Stories that are tagged 'tax credits'

	Democrats Introduce In-Sourcing Bill Into US Congress 5/15/2012 Democrats in the Senate and House of Representatives have introduced into the United States Congress the main tax measure out of President Barack Obama’s recently-announced “To Do List”, to provide a tax credit for companies over the cost of moving operations back to the country.
	US Congress Investigates Tax Fraud 5/10/2012 The House of Representatives Ways and Means Committee’s Oversight Subcommittee Chairman Charles Boustany and its Social Security Subcommittee Chairman Sam Johnson (pictured) have held a joint hearing on tax fraud involving identity theft in the United States.
	Obama Presents Tax 'To Do List' To Congress 5/10/2012 President Barack Obama has used remarks at the State University of New York in Albany to present a ‘To Do List’ of tax measures that, in his opinion, the United States Congress should pass to increase employment and economic growth.
	Singapore Consults On Parent Care Tax Relief 4/26/2012 Singapore's government is considering whether to allow sharing of a tax relief for caring for parents and elderly relatives among claimants in such proportion as they may agree, and the Inland Revenue Authority of Singapore has issued a consultation paper setting out the options which it may adopt.
	US Congress Looks At Retirement Account Tax Reform 4/20/2012 The United States House of Representatives Ways and Means Committee has held a hearing on possible modifications to tax-favoured retirement savings plans, including employer-sponsored defined contribution plans and individual retirement accounts, which might be considered as part of comprehensive tax reform.
	IRS Reminds Taxpayers Of College Tax Benefits 4/13/2012 The United States Internal Revenue Service has reminded parents and students, looking to meet this year’s April 17 filing deadline, to check out several college-related tax benefits before filing their 2011 tax returns.
	UK Taxpayers Educated On Working Tax Credit Changes 4/9/2012 The Low Incomes Tax Reform Group in the United Kingdom has warned a number of groups of tax credit claimants that they need to contact the UK tax authority, HM Revenue and Customs, if they want to continue to receive working tax credits, following the enactment of Budget provisions.
	UK Opposition Attacks New Tax Year Changes 4/10/2012 The Labour party's Ed Balls has slammed the latest round of tax and benefit changes to hit UK taxpayers, arguing that families with children are set to lose over GBP500 a year.
	OECD Urges Tax Reform In Poland 4/5/2012 The Organisation for Economic Cooperation and Development has presented a report recommending that Poland implement specific measures to improve the nation's tax regime and meet deficit reduction targets at a faster pace.
	French Research Credit Key For Foreign Investors 4/3/2012 A recent report on 2011 foreign investment in France, published by the French agency for international investment, has shown that France remains an attractive destination for foreign investors, mainly attributable to the availability of the popular consolidated research tax credit.
	Help Provided For Singapore's SMEs 3/29/2012 At Singapore’s Enterprise Development Centre Conference held recently, it was described how with the assistance of the Inland Revenue Authority of Singapore, small and medium-sized enterprises can be helped to understand the government’s Productivity Innovation Credit programme.
	US Senate Bill To Repeal 'Big Oil' Tax Breaks 3/29/2012 The Democrat-led United States Senate has voted to allow a debate on the Repeal Big Oil Tax Subsidies Act, which would end certain tax breaks for the largest oil companies, and use the tax saved to extend, for one year, expiring energy tax provisions and reduce the country’s fiscal deficit.
	UK Budget Delivers Tax Cuts 3/23/2012 George Osborne has delivered a Budget that ‘unashamedly backs business’, slashing the top rate of personal income tax and accelerating corporate tax cuts.
	NZ Pushes Tax Credits For 'Payroll Giving' 3/15/2012 New Zealand's Revenue Minister Peter Dunne has praised the creation of a new website which offers information for employers seeking to establish Payroll Giving schemes in their workplaces.
	Families To Lose Most From UK Tax Changes 3/15/2012 Households with children are set to lose the most from the UK's forthcoming tax and benefit changes, the Institute for Fiscal Studies has said.
	Britons Will Overpay GBP12.6bn In Tax This Year 3/12/2012 UK taxpayers will overpay an average of GBP421 in tax this year, with 85% failing to act on reducing their tax bill, according to new figures.
	OECD Report Tackles Aggressive Tax Planning 3/8/2012 The Organisation for Economic Cooperation and Development has announced the launch of its latest publication, aimed at aiding governments to tackle the use of aggressive tax planning.
	Belgium Urged To Extend Venture Capital Tax Break 3/5/2012 The European Commission has officially asked Belgium to amend its legislation on tax credits for investing in venture capital.
	IRS Homebuyer Credit Oversight Criticised Again 3/5/2012 According to a report by the Treasury Inspector General for Tax Administration, the United States Internal Revenue Service has disallowed nearly USD1.6bn in erroneous First-Time Homebuyer Credits, but could have identified even more.
	US Announces USD3.6bn In Tax Credit Awards 2/28/2012 The United States Treasury Department has announced the award of USD3.6bn in New Markets Tax Credits, which permit individual and corporate taxpayers to receive a credit against federal income taxes for making equity investments in vehicles known as Community Development Entities.
	BC Corporate Tax Hike Possible 2/27/2012 British Columbia could hike the standard rate of corporate tax if the fiscal situation does not improve, the Finance Minister has warned in his 2012 Budget.
	Canada Launches Caregiver Tax Credit 2/24/2012 Canada's Finance Minister Jim Flaherty has been promoting a series of tax reliefs aimed at helping caregivers and those with disabilities, including a new tax credit.
	Romney Proposes Across-The-Board Tax Cuts 2/24/2012 Following President Obama’s corporate tax reform proposals, Mitt Romney, one of the leading Republican presidential candidates, issued his own proposals to kick-start United States economic growth by cutting tax rates, broadening the tax base and providing for tax simplification.
	IRS Has USD1bn In Unclaimed Refunds 2/27/2012 The United States Internal Revenue Service has announced that refunds totalling more than USD1bn may be waiting for one million people who did not file a federal income tax return for 2008.
	Canada Highlights Family Tax Credit 2/22/2012 The Canadian government has highlighted a new tax credit that, according to the minister in charge, will help Canadian families encourage children's artistic development.
	IRS Proposes Budget Based On Achieving Tax Compliance 2/16/2012 The requested budget for the Internal Revenue Service, in the fiscal year beginning October 1, 2013, is around USD12.8bn, and is designed to provide the resources necessary to administer and enforce, and implement recent changes to, the United States tax code, and to serve the American taxpayer in a timely manner.
	Obama Produces Election Budget 2/15/2012 United States President Barack Obama has announced his proposed budget for the next fiscal year beginning on October 1, which, with over USD1.5bn in net new revenue from taxes on the wealthy and more spending on job creation and education, will provide his platform for re-election.
	IRS Gives Guidance On Veterans Tax Credit 2/13/2012 The United States Internal Revenue Service has released the guidance and forms that employers can use to claim the newly-expanded tax credit for hiring veterans.
	IRS Discloses Identity Fraud Crackdown 2/2/2012 The United States Internal Revenue Service and Justice Department have announced the results of a national sweep cracking down on suspected identity theft perpetrators, as part of a stepped-up effort against refund fraud and identity theft.
	US Senate Studies Options On 'Tax Extenders' 2/2/2012 During a recent hearing, the United States Senate Committee on Finance looked at the group of tax provisions requiring frequent annual renewal, commonly called the 'tax extenders', in the context of seeking longer term solutions and, thereby, providing tax certainty.
	Canada Highlights Firefighter Tax Credit 1/30/2012 Canada's Revenue Minister has been promoting a new non-refundable tax credit for volunteer firefighters which will help reduce income tax bills by nearly CAD500.
	AEI Produces US Tax Reform Plan 1/24/2012 Within what is called a 'pro-growth, progressive, and practical proposal to cut business tax rates', the American Enterprise Institute has also included some provisions to reform individual income taxes in the United States.
	UK Author Calls For Tax Breaks To Help New Writers 1/20/2012 A tax incentive would help give new writers a head start in publishing, one of the UK's leading authors has said.
	Canadian Revenue Highlights Arts Tax Credit 1/19/2012 Canada's Revenue Minister has been highlighting the benefits of a new tax credit for parents, designed to promote the involvement of children in the arts.
	UK Mulls Tax Breaks For Employee Ownership 1/19/2012 Continuing his attack on 'irresponsible capitalism' the UK's Deputy Prime Minister Nick Clegg has said that he wants to cut red tape and reform the tax system to encourage employee ownership.
	Canada Releases Tax Expenditures Report 1/16/2012 The Canadian Department of Finance has released its 2011 Tax Expenditures and Evaluations report detailing the revenue impacts of federal tax measures.
	Sarkozy's Rival Seeks To Modify Family Tax Break 1/12/2012 In yet another clear signal of disorder within the ranks of his own socialist party, French presidential candidate François Hollande recently made clear that he had absolutely no intention of abolishing the income tax break currently benefiting families in France (le quotient familial).
	PwC Warns Of UK PAYE Overhaul 'Perfect Storm' 1/11/2012 While reform of the UK's pay-as-you-earn tax system is in itself a good thing, a tight timescale for completion could create major issues for employers, PwC has warned.
	Singapore Issues Revised E-Guide On Tax Treatment Of Trusts 1/9/2012 The Inland Revenue Authority of Singapore has published a revised version of its e-guide on the income tax treatment of trusts, following the several new provisions included in the Income Tax Act after the publication of its first e-guide on this topic in 2006.
	UK's Families Hardest Hit By Tax, Benefit Changes 1/6/2012 Families with children are set to lose more through tax and benefit changes than pensioners or adults without children, according to new research from the Institute for Fiscal Studies.
	BC Amends Homeowner Grant Scheme 1/4/2012 In an effort to accommodate rising property values, the Canadian province of British Columbia has increased the threshold for the homeowners' grant, a scheme which helps the province's residents with property taxes.
	IRS Tightens Tax Credit Regulations 12/22/2011 The United States Internal Revenue Service has issued final regulations requiring paid tax return preparers to file a due diligence checklist with any federal return claiming the Earned Income Tax Credit.
	IRS Pushes Tax Credits For Retirement Accounts 12/20/2011 The United States Internal Revenue Service is encouraging low- and moderate-income workers to take steps to save for retirement and earn a special tax credit in 2011 and the years ahead.
	USD1bn Claimed In UK Film Tax Relief 12/19/2011 HM Revenue and Customs has released a summary of film tax credit take-up, showing that claims worth GBP645m (USD1bn) have been made since the scheme was introduced.
	Virginia Proposes Tax Credits For Space 'Burials' 12/14/2011 A bill has been introduced in Virginia’s state legislature to provide for an individual income tax deduction for those taxpayers who agree to be cremated and then have their remains sent into space.
	Singapore 'Growth Dividends' Deadline Nears 12/7/2011 Singapore’s residents, aged 21 and above, who have yet to sign up to receive their 2011 ‘Growth Dividends’, were reminded that they should do so by December 31, 2011.
	Noonan Delivers Tax Changes In Irish Budget 12/8/2011 Irish Finance Minister Michael Noonan has delivered a comprehensive austerity budget comprised largely of tax measures designed to raise almost EUR2bn (USD2.7bn) in additional revenue.
	UK To Launch Another Tax Amnesty 12/6/2011 Following on from compliance campaigns targetting certain 'high risk' professions and trades, the UK tax authority, HM Revenue and Customs, has announced another partial tax amenesty, this time focussing on unpaid tax owed by electricians.
	Singapore To Dish Out Cash Bonus Payments 12/2/2011 By December 1, lower-income Singaporeans will have received the second instalment of their Workfare Special Bonus payment which is part of the SGD3.2bn ‘Grow & Share’ package of measures announced by the government in its 2011 budget.
	IRS Seeks to Return Undelivered Refunds 12/2/2011 In an annual reminder to taxpayers, the United States Internal Revenue Service has announced that it is looking to return USD153.3m in undelivered tax refund cheques.
	Austerity Continues For UK 12/1/2011 It may prove hard to avoid recession in the UK, the Chancellor of the Exchequer George Osborne has said, unveiling a package designed to ensure the government meets its fiscal targets in spite of seemingly gloomy economic prospects.
	Multitude Of US Tax Measures To Renew By Year-End 11/30/2011 The Committee for a Responsible Federal Budget has recently noted that the United States Congress has an extensive policy list to take care of before the end of this year, including many expiring tax provisions.
	UK Voluntary Grant Scheme Generates More Tax 11/22/2011 The UK's coffers benefited from a GBP16.8m (USD26.3m) tax boost last year generated as a result of a grant scheme organized by HM Revenue and Customs.
	US Repeals Contractors Tax 11/21/2011 With the passage of the Senate-amended bill through the House of Representatives on a bipartisan vote, the United States Congress has finally approved legislation to repeal the 3% withholding tax on payments made to contractors providing services to government entities.
	IRS Chief Looks For Tax Simplicity 11/18/2011 In his remarks to the Harvey Kennedy School in Cambridge, Massachusetts, the United States Inland Revenue Service Commissioner Douglas H. Shulman said that one of the greatest impediments to effective tax policy implementation is complexity, and that, above all, most taxpayers want tax code simplicity.
	CBI Recommends UK Fiscal 'Plan A Plus' 11/14/2011 The UK government needs to consider enhancing current deficit reduction plans, the Confederation of British Industry has said, stressing the need for reform of the country's tax credit regime.
	UK Film Tax Relief Extended 11/14/2011 The UK's film industry will be able to benefit from a targeted tax break until the end of 2015, under a scheme worth nearly GBP1bn (USD1.6bn) a year, Prime Minister David Cameron has announced.
	Canada Consults On Income And Sales Tax Changes 11/3/2011 The Canadian government has unveiled a package of draft legislative proposals relating to income and sales tax regulations.
	IRS 2011 Filing Season Performance Praised 11/3/2011 The United States Internal Revenue Service timely processed the majority of individual tax returns during the 2011 filing season, according to a report on its performance from the Treasury Inspector General for Tax Administration.
	CBI Calls For Tax Incentives 11/1/2011 The Confederation of British Industry has called on the government to introduce a new tax incentive to encourage companies to take on young unemployed people, as part of a package of measures aimed at boosting employment across the UK.
	Singapore Includes Cloud Computing In Tax Incentives 10/26/2011 At a recent forum, Singapore’s Infocomm Development Authority confirmed that businesses will, through the inclusion of related costs under the Productivity and Innovation Credit scheme, be able to obtain significant tax benefits for cloud computing.
	Canada Consults On Disability Saving Plan Regulations 10/25/2011 The Canadian government is reviewing the Registered Disability Savings Plan, designed to help ensure the long-term financial security of children with severe disabilities.
	Chevron CEO Slams Obama's Proposed Energy Tax Reforms 10/24/2011 During a speech at the Peterson Institute for International Economics, John S. Watson, Chairman and CEO of Chevron Corporation, has warned that the tax reforms being proposed by President Obama would risk making United States energy more scarce and expensive.
	US Education Tax Credits Overclaimed 10/21/2011 According to a new report from the United States Treasury Inspector General for Tax Administration, an estimated 2.1m taxpayers may have received USD3.2bn in erroneous education tax credits.
	US Congress Studies Charitable Giving Tax Incentives 10/20/2011 The United States Senate Committee on Finance held a hearing on October 18 to consider the various proposals that have been made to alter the income tax treatment of charitable giving by individual donors, to ensure that such donations are encouraged in the most efficient way possible.
	Panel Urges Canada To Simplify Research Tax Credit 10/20/2011 With CAD5bn (USD4.95bn) offered at a federal level in research and development funding each year, Canada's government must implement a simplified and more focused approach to the aid, according to a new report that also argues changes to the tax credit system are needed.
	IRS Has Problems With First-Time Homebuyer Credit Repayments 10/18/2011 The United States Internal Revenue Service is having difficulty determining which taxpayers have to repay the First-Time Homebuyer Credit, according to a report by the Treasury Inspector General for Tax Administration.
	Benefits Remain Available To US Taxpayers 10/14/2011 The United States Internal Revenue Service has urged taxpayers, whose tax-filing extensions run out soon, to double check their returns for expanded individual and business tax benefits.
	US Senate Stops Obama's Jobs Act 10/13/2011 Republican Senators have blocked the passage of President Barack Obama’s American Jobs Act as, although it received a slim 50-49 majority in the Democrat-led United States Senate, it failed to achieve the 60 votes needed to proceed.
	Economy-Boosting Bill Introduced In Canada 10/7/2011 As part of the ongoing Budget implementation process, the Canadian Finance Minister has introduced legislation designed to generate job creation and stimulate economic growth, with measures including a series of key new tax credits.
	Japanese Tax Panel Proposes Disaster Tax Relief 10/10/2011 A government tax panel has proposed new measures to provide tax relief for individuals and companies that were affected by the earthquake and tsunami in north-east Japan earlier this year, as well as for those that create jobs or make investments in the region.
	IRS Tightens Tax Credit Compliance Checks 10/7/2011 The United States Internal Revenue Service has announced that it is issuing proposed regulations that would require paid tax return preparers, beginning in 2012, to file a due diligence checklist with any federal return claiming the Earned Income Tax Credit.
	Canada To Implement 2011 Budget 10/5/2011 Canadian Minister for Finance, Jim Flaherty on October 3 tabled in the House of Commons a motion to implement Budget 2011 tax measures.
	Republicans Target Healthcare Tax Code Reform 9/30/2011 During a recent speech at Stanford University’s Hoover Institution in California, Paul Ryan, the Republican Chairman of the House of Representatives Budget Committee, put forward proposals for fundamental change of direction in the current United States health care tax code.
	IRS Praised For Tax Oversight Of Health Care Law 9/28/2011 The division of the United States Internal Revenue Service responsible for tax oversight of tax-exempt organizations has made effective plans for the implementation of the new health care law, according to a report from the Treasury Inspector General for Tax Administration.
	BC Expands Innovation Tax Credit Schemes 9/26/2011 British Columbia's Premier has unveiled plans for a series of tax credit extensions, as part of a broader scheme for the support of small business innovation and entrepreneurship.
	Luxembourg Unveils Energy Efficiency Tax Credits 9/21/2011 Luxembourg’s Finance Minister Luc Frieden and Housing Minister Marco Schank recently unveiled key details of different fiscal measures designed to encourage energy efficiency improvements in properties in Luxembourg.
	Obama Completes His Plan For Growth And Deficit Reduction 9/21/2011 Building on the payroll tax reductions, additional tax credits and reduced tax expenditures already contained in the draft American Jobs Act, President Barack Obama has announced further measures to complete a package targeted at economic growth and deficit reduction in the United States.
	US Senate Considers Retirement Savings In Future Tax Reform 9/21/2011 The United States Senate Committee on Finance has held a hearing on the further encouragement of retirement savings within any future reform to the country’s tax code.
	Boehner Rejects Tax Hikes 9/20/2011 As a warning to President Barack Obama in his formulation of further proposals to reduce the United States fiscal deficit, the Speaker of the House of Representatives, John Boehner, reiterated that the Republican Party would not countenance any more increases to taxation.
	New Zealand To Simplify Tax Filing Requirements 9/15/2011 New Zealand Revenue Minister Peter Dunne says a new tax bill tabled on September 14 will simplify tax filing requirements for individuals and support businesses in handling their tax obligations electronically.
	Obama Targets Tax Breaks To Pay For Jobs Programme 9/14/2011 The bill which President Barack Obama has sent to the United States Congress, giving effect to his USD447bn package of tax cuts and federal infrastructure spending, includes tax break reductions and an offset trigger for the Joint Select Committee on Deficit Reduction.
	South Africa Urged To Improve IDZ Regime 9/12/2011 A paper from the South African Institute of International Affairs has suggested the government needs to consider the provision of further incentives to investors in the country’s industrial development zones to attract the necessary foreign investment.
	Obama Presents Tax Cuts Package 9/12/2011 In an address to a joint session of the United States Congress, President Barack Obama has proposed a USD447bn package of tax cuts and federal spending, with the aim of creating additional jobs in a growing economy.
	South Korea Unveils Tax Revisions Bill 9/8/2011 South Korea’s Ministry of Strategy and Finance has unveiled its tax revision bill, which will form the basis of the government’s policies and budget for the next year, but, at the same time, has had to renounce a planned reduction in income and corporate taxes.
	IRS Pushes Small Business Health Care Tax Credit 9/9/2011 United States Internal Revenue Service Commissioner Doug Shulman has announced a new round of outreach to small employers, and the professional service providers they rely on, to encourage them to review the new Small Business Health Care Tax Credit to see if they are eligible.
	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.
	Spain Cuts VAT On New Houses 8/24/2011 In an effort to revive the country's stagnant housing market and support the construction industry, the Spanish government has announced that it will reduce the rate at which sales tax is applied to the sale of new housing.
	US Taxpayers May Credit UK Non-Dom Levy 8/23/2011 The Internal Revenue Service has decided that US taxpayers resident in the UK can now offset an the UK non-dom levy against their US tax bill.
	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.
	Canada Presses Forward With Budget Implementation 8/18/2011 The Canadian government has released its proposals for the introduction of a raft of new tax credits, many of which formed part of the Conservative party's election manifesto and the subsequent Budget introduced in June.
	Sweden Suspends Income Tax Cuts 8/18/2011 In a joint press conference Swedish Prime Minister Fredrik Reinfeldt and Finance Minister Anders Borg have announced that planned tax cuts will be put on ice due to the uncertainty surrounding the eurozone.
	US Debt Ceiling Deal Includes Future Tax Hikes 8/8/2011 In a recent paper, the President of the Tax Foundation, Scott A. Hodge, points out that the latest United States debt ceiling agreement contains a built-in USD3.5 trillion revenue increase, despite all political protestations that it does not raise taxes.
	Two More Years Of Tax Hikes For Ireland 8/3/2011 While the country is on track to meet and even exceed its bailout commitments for this year, Irish Finance Minister Michael Noonan has outlined the plans he intends to implement over the next two years to cut the deficit and satisfy Ireland's creditors.
	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.
	ECJ Rejects Basque Tax Appeals 8/2/2011 The European Court of Justice has thrown out appeals regarding infringement proceedings brought against the Basque Territories, Álava, Vizcaya and Guipúzcoa of Spain for two tax measures, which allowed a reduction in the basis of assessment for corporate tax for newly-established firms and a tax credit amounting to 45% of certain investments.
	IRS Has Failed To Prevent Improper Tax Credit Claims 7/28/2011 While it has made improvements in its processing of the First-Time Homebuyer Credit, the United States Internal Revenue Service needs to take additional steps to prevent erroneous claims for the credit on amended returns, according to a new report released by the Treasury Inspector General for Tax Administration.
	HRMC Must Reduce Running Costs, Says Report 7/21/2011 HM Revenue and Customs faces a significant challenge as it attempts to improve its financial situation by simultaneously reducing running costs, finding savings and increasing revenue intake, a new report has said.
	Luxembourg Redefines Home Energy Tax Credits 7/20/2011 During a recent meeting chaired by Prime Minister Jean-Claude Juncker, Luxembourg’s governing Council approved the bill providing for different fiscal measures designed to encourage energy efficiency improvements in properties.
	Singapore, Saudia Arabia DTA Comes Into Effect 7/15/2011 The Ministry of Trade and Industry has announced that Singapore’s comprehensive double taxation agreement with the Kingdom of Saudi Arabia, which entered into force on July 1, 2011, provides a range of new tax benefits for both Saudi Arabian and Singapore businesses.

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