Stories that are tagged 'goods and services tax (GST)'

	BC Unveils New Sales Tax Law 5/16/2012 Kevin Falcon, the Finance Minister of the Canadian province of British Columbia, has introduced legislation to meet government's commitment to return to the Provincial Sales Tax on April 1, 2013.
	Canadian Budget Tax Legislation Tabled 4/24/2012 Canada's Finance Minister Jim Flaherty has tabled legislation which will implement certain tax provisions of his 2012 Budget, including reforms to tax shelters and minor changes to the sales tax system.
	Canadian Province To Introduce HST 4/23/2012 The Canadian province of Prince Edward Island will move to a harmonized sales tax system from April next year, with the government expected to table a package of legislative reforms later this year.
	Singapore Introduces Added Tranche Of GST Compliance Initiative 4/4/2012 The Inland Revenue Authority of Singapore is providing a second SGD5m tranche of co-funding of the fees incurred by businesses registered for goods and services tax and undertaking the Assisted Compliance Assurance Programme.
	BC Loan Repayment Boosts Canadian Finances 4/2/2012 British Columbia's repayment of sales tax transition loans helped the federal Canadian government to its first monthly budgetary surplus in nearly three years.
	Singapore To Cash In On Gold Rush With Tax Break 3/20/2012 International Enterprise Singapore, the trade development agency, has confirmed that Singapore plans to increase significantly its share of global trading in precious metals, as a result of exempting gold and other precious metals from goods and services tax.
	Indian Budget Signals Further Reform Delays 3/20/2012 India’s 2012 Budget has been unveiled, including a raft of tax measures designed to signal progress in the implementation of a direct tax code and a goods and services tax regime.
	New Zealand Tax Revenues Below Target 3/12/2012 New Zealand's lower than forecast tax revenue reinforces the need for the government to responsibly manage its spending, Finance Minister Bill English has said.
	Canada's Tax Revenues On The Up 3/1/2012 Canadian tax revenues were up 6.8% in December, with revenue from the first eight months of the fiscal year increasing by 4.2%.
	India Prepares For 'Paradigm Shift' With GST 2/29/2012 The implementation of a Goods and Services Tax in India will bring about a 'paradigm shift' in the area of indirect taxation in the country, Finance Minister Pranab Mukherjee has said.
	Canada, BC, Release Sales Tax Transition Rules 2/21/2012 British Columbia will cease to operate a Harmonised Sales Tax system on April 1, 2013 after transitional proposals were released and relief measures outlined.
	Singapore's Tax System To Remain Progressive 1/24/2012 Prior to his presentation of the 2012 Budget on February 17, Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance and Manpower has looked at how Singapore’s progressive tax policies are building 'a fair and inclusive society', during his remarks to an Institute of Policy Studies conference.
	Canada, BC Agree Terms Of HST Repayment 1/13/2012 British Columbia has finally agreed a repayment schedule for the federally-backed funding the province received for its failed transition to a harmonised sales tax regime.
	Singapore To Pay Last GST-Offset Subsidy 1/2/2012 Singapore’s Ministry of Finance has announced that about 800,000 Housing and Development Board (HDB) households can expect to receive SGD40m in Utilities-Save goods and services tax rebates in January 2012.
	Canadian Budget Deficit Shrinking 12/29/2011 The Canadian monthly budgetary deficit has fallen markedly year-on-year, to CAD2.2bn (USD2.15bn) in October, down from CAD4.1bn reported during the same month a year earlier, according to the latest Fiscal Monitor published by the Canadian Ministry of Finance.
	New HST Deal On The Cards For BC 12/21/2011 British Columbia may get a better deal on repaying its harmonized sales tax loans as ministers discuss extending the time limit by which the province has to return the funds.
	Anguilla Faces Economic Challenges 12/19/2011 The International Monetary Fund has warned authorities in Anguilla that urgent action is needed to improve the health of the financial sector, to stabilize public finances, and to increase the potential for long-run economic growth.
	New Zealand First Promises To Cut GST 11/7/2011 New Zealand First Leader, Winston Peters, promises to reduce Goods and Services Tax back to 12.5% and lower personal, savings and company tax across the board.
	Businesses Sceptical After Australian Tax Forum 10/6/2011 The Australian two-day Tax Forum, organized by the government, has now ended, with the majority of delegates going home in agreement that the country’s tax system is unsatisfactory and needs a lot of changes to improve it.
	Singapore Reports On GST Consultation 10/3/2011 Singapore’s Ministry of Finance has accepted for implementation 11 of the 22 suggestions on the draft Goods and Services Tax (Amendment) Bill 2011, which were received during a public consultation exercise held during July this year.
	Quebec Sales Tax Deal Imminent 9/30/2011 After 'significant progress' was made in recent talks between Quebec and the federal Canadian government, the province is expected to receive its long-awaited compensation package for the implementation of a harmonized sales tax regime.
	Australian Industry Group Calls For GST Increase 9/30/2011 It looks as if business organizations are going to ignore the rules set down by the Australian government for the upcoming Tax Forum to be held in Canberra on October 4 and 5 by calling for an increase in the goods and services tax rate to allow other more inefficient taxes to be removed.
	Australia To Change GST Treatment of New Homes 9/27/2011 Previously announced changes to the application of goods and services tax to newly constructed residential premises will not apply prior to January 27, 2011, Australian Assistant Treasurer Bill Shorten has clarified.
	Jersey Considering Cut-Back Proposals 9/19/2011 The Jersey government has submitted the 2012 draft Annual Business Plan to the island's legislative assembly, the States of Jersey, to be finalized and adopted. The Plan focuses on 3 areas: cutting government expenditure; generating economic growth; and ensuring a competitive tax regime, which is flexible to public finance needs.
	HST Vote Gives BC A Fiscal Headache 9/15/2011 British Columbia’s decision to scrap its harmonized sales tax system will hit the province’s revenues, raise the deficit and result in higher debt levels, the Ministry of Finance has said.
	Jersey Chamber Questions States Fiscal Plan 9/14/2011 The Jersey Chamber of Commerce, representing island businesses, has questioned elements of the States Business Plan, which outlines measures for economic growth, public sector retrenchment, and discusses tax policy in coming years.
	Australian Retail Inquiry Focusses On GST 9/8/2011 The public hearings of the Australian Productivity Commission’s inquiry into the future of the Australian retail industry continued this week, with bricks and mortar retailers feeling strongly about internet retailers benefiting from the the low value threshold for goods and services tax purposes.
	Henry Review Author Urges Higher Australian GST 9/2/2011 Increasing the Goods and Services Tax from 10% to 15% is necessary for the financial future of Australian States, according to Greg Smith, former Treasury official and one of the authors of the Henry Tax Review.
	Business Braced For Sales Tax Chaos In BC 9/5/2011 British Columbia's decision to scrap the harmonized sales tax system has provoked a mixed reaction from the business community, but opinion is largely unanimous that businesses and the government alike must think about making the transition back to the provincial and general sales tax regime as smooth as possible.
	New Zealand Consults On Cross-Border GST Issues 8/25/2011 A discussion document released by the New Zealand government for public consultation seeks feedback on options for addressing issues relating to goods and services tax as it applies to businesses trading with each other across borders.
	Australia To Harmonize Indirect Tax Assessment 8/24/2011 In January the Australian Assistant Treasurer released for public consultation exposure draft legislation to simplify the tax system, and in response to submissions, the government has now released revised exposure draft legislation for further public consultation.
	Paddy Power Secures Tax Rebate From ATO 8/22/2011 Betting giant Paddy Power is in line for a substantial tax gain from the Australian Tax Office (ATO), worth EUR26m.
	New Zealanders Back 'No GST On Food' Campaign 8/18/2011 New Zealanders came out in force on Tuesday, August 16, to demonstrate their strength of feeling about Goods and Services Tax on food, and presented Parliament with a petition signed by 40,000 people asking for it to be removed.
	British Columbia Faces Sales Tax Dilemma 8/17/2011 More than a third of British Columbia's electors turned out to vote on the future of the province's sales tax regime, but that future looks potentially more uncertain in the wake of comments made by Canada's federal finance minister Jim Flaherty.
	Indian Trade Body Backs GST 8/12/2011 A national Goods and Services Tax could increase economic growth in India by 1.4% to 1.7% with an annual revenue increase of INR1.2 trillion (USD26bn) for the government, according to Indian trade body the Associated Chambers of Commerce and Industry of India.
	Indian Ruling Undermines Mauritian DTA 8/11/2011 A ruling from the Mumbai High Court has cast into doubt the use of structures in Mauritius to mitigate tax paid in India.
	Report Examines GST Exemption On Australian Imports 8/5/2011 The Australian Productivity Commission’s draft report, on the structure and performance of the country's retail industry has just been published, and examines the current exemption from GST and duty for imports valued below AUD1,000 (USD1,046).
	BC Finance Minister Defends HST 8/1/2011 With British Columbia in the midst of a referendum on the future of its sales tax regime, the province's Finance Minister has outlined his reasons why electors should vote to keep the current harmonized sales tax in place.
	Indian GST Takes Step Forward 7/22/2011 The Indian government has appointed Sushil Modi, a senior member of the Bharatiya Janata Party, to head a panel to look at implementing the single goods and services tax (GST).
	BC Extends HST Referendum Deadline 7/5/2011 To deal with the effects of a nationwide postal strike, British Columbia has extended the voting deadline in a crucial referendum that will determine the future of the province's sales tax regime.
	Indian GST Faces Further Delay 7/4/2011 The Indian authorities could miss the April 2012 deadline for the implementation of the long-awaited national goods and services tax, which could now be delayed until June 2012 as the central and state governments continue trying to resolve their differences, according to Sumit D Majumdar, chairman of the Central Board of Excise and Customs.
	Elements Of Canadian Budget Pass Legislative Hurdle 6/30/2011 A key part of Canada's Budget, aimed at assisting senior citizens, has passed through parliament, resulting in the restructuring of a series of benefits, and the introduction of tax credit and relief measures, Finance Minister Jim Flaherty has announced.
	Canadian Budget Enters Legislative Process 6/16/2011 As part of the Budget process, the Canadian Finance Minister Jim Flaherty has introduced legislation which will implement key elements of the programme, aimed at assisting senior citizens.
	BC Opposition Launches Anti-HST Campaign 6/8/2011 Ahead of a crucial referendum on the future of the province's harmonized sales tax, British Columbia's official opposition party has launched its 'yes' campaign, designed to persuade voters to scrap the tax in favour of a return to the previous regime.
	Australia Consults On GST Break For Small Firms 6/7/2011 Australia’s Treasury has announced a consultation on the government’s 2011-12 Budget proposal to extend the current goods and services tax instalment system to allow access for small businesses that are in a net refund position.
	Flaherty Resubmits Canadian Budget 6/8/2011 Canada's Minister of Finance, Jim Flaherty has reintroduced Budget 2011, which failed to be adopted prior to the dissolution of parliament on March 26, 2011.
	Jersey's Ozouf Rejects Zero-Rate For Food 5/18/2011 Jersey Treasury Minister, Phillip Ozouf, has rejected a proposal to exclude food and fuel from Jersey's goods and services tax in the interests of retaining a broad-based, simple tax, which is easily managed and encourages prompt, accurate payments.
	Australia Readies Marine Industry Tax Boost 5/17/2011 The Australian government is to amend goods and services tax legislation to help Australian recreational boat builders compete with international manufacturers.
	Singapore's GST 'Not To Be Raised For At Least Five Years' 4/26/2011 Singapore’s Minister for Finance, Tharman Shanmugaratnam, has confirmed that goods and services tax will not be increased for at least five years.
	Australia To Simplify GST 4/22/2011 As part of the Australian government's ongoing efforts to simplify Australia's tax laws, the Assistant Treasurer, Bill Shorten, is proposing new regulations to specify which taxes, fees and charges will still be subject to the Goods and Services Tax.
	Call For Lowering Of Tax On Food Processing In India 4/19/2011 Goods and Services Tax on the food processing industry should be at minimum level to ensure its future growth, said Harish Rawat, Indian Minister for Agriculture and Food Processing Industries, at a conference organized by the PHD Chamber of Commerce and Industry in New Delhi.
	Australian Retailers Waiting for Answers From Customs 4/7/2011 The Australian Fair Imports Alliance has called on the country’s customs management to 'come clean' and provide crucial importation data to industry, business and the Productivity Commission inquiry into the future of retail.
	Review of Australian GST Distribution 3/31/2011 The Gillard Government has commissioned a review of the distribution of revenue from the Goods and Services Tax to the states and territories.
	ATO Implementing Inspector-General’s Recommendations 3/24/2011 The Australian Assistant Treasurer has released a report compiled by the Inspector-General of Taxation into the Australian Taxation Office's implementation of agreed recommendations, and announced that the Tax Office has advanced the vast majority of these.
	Ozouf Defends Jersey's GST 3/14/2011 Jersey’s Minister for Finance, Phillip Ozouf has launched a staunch defence of the government’s decision not to exclude food and fuel from the island’s Goods and Services Tax, to draw a line under continual public attempts to achieve exemption.
	Indian Chamber Hopes To Convince States On GST 3/9/2011 The new President of the Federation of Indian Chambers of Commerce and Industry has said that the Federation will be actively pursuing the roll out of a Goods and Services Tax by making the States aware of the importance of its implementation in the national interest.
	Singapore Will Not Reduce GST 3/4/2011 Singapore’s Minister for Finance, Tharman Shanmugaratnam, in his speech to parliament rounding up the debate on the 2011 Budget, confirmed that the government had no intention of reducing the rate of goods and services tax from 7% to 5%, as had been suggested to reduce the effects of inflation in the economy.
	Australian Retailers Want Say In Customs Reforms 3/2/2011 The Fair Imports Alliance, the coalition of retailer and wholesaler associations, has said that although it has consistently supported the customs compliance campaign, it has growing concerns about the lack of industry consultation regarding process, focus and timelines.
	Mukherjee Presents Indian Budget 3/2/2011 Indian Finance Minister Pranab Mukherjee presented the country’s annual budget on February 28, which contained measures to ease the tax burden on investment as well as changes to indirect taxes, proposals to tackle 'black money' and a commitment to move forward with the new Direct Taxes Code.
	Australian GST Administration Performance Published 2/24/2011 The Australian Government has published its GST administration mid-year performance, which shows that GST revenue collection at December 31, 2010 was around 4% lower than the Budget 2010–11 forecast and 2.6% below the mid-year economic fiscal outlook.
	Polish Ports To Receive Preferential VAT Rate 2/18/2011 Polish Deputy Economy Minister, Waldemar Pawlak has been successful in lobbying to restore the competitiveness of Polish ports, through a Bill that proposes the introduction of a preferential rate of Value Added Tax on their services, which are currently subject to a 23% rate.
	English Justifies Recent NZ Tax Changes 2/18/2011 In a speech this week to the Auckland Chamber of Commerce and Massey University, Bill English, New Zealand Finance Minister, said he was satisfied that the Government had got the balance right with tackling the economy and introducing new tax packages.
	No New Taxes For Belize, PM Says 2/18/2011 Discussing fiscal policy ahead of the Budget, scheduled for March 11, Belize Prime Minister, Dean Barrow, said the government is planning no new taxes in the coming fiscal year as tax revenues rebound.
	States Continue To Block Indian GST 2/15/2011 Indian Finance Minister Pranab Mukherjee is persevering with his plans to introduce a bill to amend the Constitution in order to be able to roll out the Goods and Services Tax despite resistance from many states.
	Australia Announces Tax Break For Boat Buyers 2/3/2011 Australian boat manufacturers and coastal tourism operators will benefit from proposed changes to the goods and services tax allowing boat buyers to sail new, Australian-made recreational boats in Australian waters for up to 12 months without paying GST on the sale price.
	HK's Accountants Propose Budgetary Tax Incentives 2/1/2011 The Hong Kong Institute of Certified Public Accountants has released its proposals for Hong Kong’s 2011/12 Budget, concentrating on certain adjustments to the tax system and on a broadening of the tax base.
	Clarifying GST Rules Around Residential Property 1/31/2011 The Australian Government has moved quickly to clarify how residential property is treated under the Goods and Services Tax, following a Full Federal Court decision last year that found GST was not payable on the full value-added to premises by developers in some circumstances.
	IMF To Raise Pressure On Pakistan Over GST 1/25/2011 Following the failure of the Pakistan government to gain support for the imposition of Reformed General Sales Tax, an International Monetary Fund team, scheduled to visit the country at the end of January, will be talking to political parties.
	Proposed Self-Assessment For GST In Australia 1/19/2011 As part of the Gillard Government's continuing focus on simplifying the tax system, Assistant Treasurer Bill Shorten has announced amendments to Australia's tax laws to allow taxpayers to self-assess indirect taxes such as goods and services tax and wine equalization tax.
	Australian Retail Redoubles GST Fight 1/18/2011 The Australian National Retail Association has said that recent Australian Bureau of Statistics data reflected the anaemic state of domestic retail trade throughout 2010, and debunks the notion that retailers are simply 'crying poor' about the unfair tax loophole for offshore traders.
	Seychelles Fiscal Programme Praised by IMF 1/10/2011 A substantial fiscal over-performance by the Seychelles in 2010 after two years of its stabilization programme, together with a rapidly recovering economy on the back of the tourist sector, has led to a recent International Monetary Fund staff report recommending completion of the country’s three-year funding facility.
	India Urged To Close Fiscal Gap 1/7/2011 The International Monetary Fund has published its Article IV consultation with India urging further effort towards addressing the fiscal imbalance.
	RGST In The Balance Amid Pakistan Crisis 1/5/2011 The implementation of a Reformed Goods and Service Tax in Pakistan was unsurprisingly the main topic under discussion at a recent conference of the Pakistan Institute of Development Economics, but with recent events sending the government into chaos, the chances of the tax being introduced any time soon appear remote.
	IMF Extends Deadline For Pakistan's Reformed GST 12/29/2010 The Executive Board of the International Monetary Fund has permitted – on a lapse-of-time basis – a nine-month extension of Pakistan's Stand-By Arrangement, to September 30, 2011, to allow more time for the proposed introduction of the Reformed Goods and Services Tax.
	Tax Laws Amendment Bill Introduced Into Australian Parliament 12/21/2010 The Tax Laws Amendment (2010 Measures no. 5) Bill 2010 has been introduced into the Australian parliament.
	India Delays GST 12/16/2010 Indian Finance Minister Pranab Mukherjee has indicated that the central government is prepared to delay the roll out of the much troubled national goods and services tax by another year while a consensus is sought on the issue with state-level governments.
	Australia To Simplify GST Rules On Property 12/13/2010 The Goods and Services Tax margin scheme that applies to property will be simplified as part of the Gillard government's ongoing commitment to making Australia's tax system easier to use and understand.
	Reminder To Sign Up For Singapore's GST Credits 12/8/2010 Singapore’s taxpayers, who have not signed previously, only have until December 31, 2010 to do so to receive their 2010 Goods and Services Tax Credits.
	Australian Retailer Wants Level GST Playing Field 12/7/2010 The chief executive of Australia’s biggest department store has announced that the company is planning to offer General Sales Tax-free shopping to its customers by setting up a China-based online shop.
	Canada Reports Increase In Tax Revenue 12/1/2010 Canadian Finance Minister Jim Flaherty has announced an increase in tax revenues collected in the first half of the fiscal year, and a narrowing of the government's budget deficit.
	Singapore To Introduce Electronic Tourist GST Refunds 12/1/2010 From mid-2011, the Inland Revenue Authority of Singapore is to introduce a new electronic tourist refund system that will remove form-filling by tourists at the point of purchase, and make it easy for them to claim goods and services tax refunds at Changi Airport.
	Ozouf Defends Jersey Budget 11/29/2010 Phillip Ozouf, Jersey's Treasury Minister, has criticized 12 proposed amendments to the 2011 Budget he delivered on October 22, warning that, if passed, they will put at jeopardy government efforts to balance Jersey's budgets by 2013.
	Australian Retailers Urge Action On Under-Valued Imports 11/25/2010 Retailers in Australia are urging the Customs Service to take immediate compliance action to stem the surging importation of under-valued retail imports.
	NZ Taxpayers Warned Over GST Claims 11/15/2010 New Zealand’s taxpayers are being advised by the Inland Revenue to carefully consider the goods and service tax claims they make relating to property transactions to ensure they are legitimate.
	NZ Reports Flagging Revenues 11/9/2010 New Zealand’s official statistics for the first three months of the 2010-11 fiscal year, released by the Treasury, show that the expected increased retail sales and, consequently, a boost to goods and services tax receipts, before its rate increase to 15% from 12.5% on October 1, failed to materialize.
	ATO Investigates GST Scheme 11/4/2010 Australian Tax Commissioner Michael D’Ascenzo on October 3 said that retirement village operators' arrangements are to be investigated by the Australian Tax Office in cases where operators are selling services, such as electricity, to residents in an attempt to gain a tax advantage.
	Australia Consults On GST-Free Export Of Boats 10/21/2010 In accordance with announcements made in the 2010-11 budget, Australia’s Assistant Treasurer, Bill Shorten, has released a consultation paper recommending changes to the goods and services tax legislation to allow newly-built boats used for recreational purposes to be tax free, if the boats are exported from Australia within 12 months of supply.
	Australia Looks At Taxation Of Islamic Products 10/20/2010 The Chairman of Australia’s Board of Taxation, Dick Warburton, has released a discussion paper on the Board's review of the taxation treatment of Islamic finance, banking and insurance products.
	States Obstruct Indian GST 10/11/2010 The timetable for the introduction of India’s new goods and services tax is still under threat from continuing opposition in the states, where loss of fiscal autonomy is an issue still perceived as unresolved.
	Australia Rejects IMF's Tax Reform Ideas 10/5/2010 While welcoming the positive findings in the latest review by the International Monetary Fund of the Australian economy, Wayne Swan, Australia’s Deputy Prime Minister and Treasurer, has ruled out accepting either of its main tax recommendations.
	NZ Labour Proposes No GST On Fresh Produce 9/28/2010 While New Zealand awaits the government’s increase in the goods and services tax rate from 12.5% to 15% from October 1, the Labour party leader, Phil Goff, has announced that the opposition would remove the tax from fresh fruit and vegetables.
	Pakistan GST Reforms On Track 9/27/2010 While attending a recent meeting to discuss the need for many areas of the country to be reconstructed because of the devastating floods, Pakistan’s Finance Minister, Hafiz Sheikh, has confirmed that the reform of the existing general sales tax will be implemented on October 1.
	NZ Govt Publicizes Tax Cuts 9/22/2010 Despite the rise on the same date of the goods and services tax rate, New Zealand’s government has emphasized that personal income tax cuts on October 1 will still improve real after-tax wages for most people in the country.
	British Columbians To Vote On HST 9/21/2010 British Columbia’s Premier Gordon Campbell has announced that voters in the province will get an opportunity to accept or reject the newly-implemented Harmonized Sales Tax at a referendum next September.
	Singapore's Tax Collections Stable In 2009-10 9/7/2010 The Inland Revenue Authority of Singapore, in its annual report, said that, despite a 2% contraction in the country’s economy in 2009, a buoyant property market sustained tax revenues which, at a total of SGD29.9bn in 2009/10, were 0.2% higher than in the previous fiscal year.
	Report Casts Doubt On Jersey Fiscal Strategy 9/6/2010 A new report by Scrutiny Jersey has warned against the 50/50 balance of tax increases to spending cuts proposed under Jersey’s Comprehensive Spending Review. Discussions on the review are ongoing to achieve annual savings in government spending of GBP50m per year by 2013, and tax increases worth GBP60m per year.
	Canada Proposes HST Relief For Status Indians 9/1/2010 The Canadian Department of Finance has released proposed draft regulations necessary to facilitate, as agreed in June 2010, tax relief for status Indians in Ontario equivalent to the provincial portion of the Harmonized Sales Tax.
	Personal Tax Proposals Disliked By Jersey Businesses 8/31/2010 Those working within Jersey’s finance industry would prefer greater cuts in public spending before increases to personal taxes are considered, according to a Jersey Finance survey.
	NZ Legislates For GST, Pension Withdrawal Changes 8/26/2010 New Zealand’s Revenue Minister, Peter Dunne, has tabled legislative amendments to cut compliance costs before the upcoming increase to 15% in the goods and services tax rate on October 1 and the repeal of fund withdrawal tax.
	HST Depresses Canadian Housing Market In July 8/20/2010 It has been suggested that the introduction of harmonized sales tax in British Columbia and Ontario has contributed to a sharp fall in home sales in Canada as homebuyers brought purchases forward.

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