Stories that are tagged 'tax rates'

	Italian Property Tax Slammed As 'Odious And Inequitable' 5/16/2012 Niccoló Rinaldi, head of the Italian opposition party, Italia dei Valori, in the European Parliament, has described the new Italian tax on the value of overseas properties and financial assets as only the latest in a long line of attacks on the finances of Italian expatriates.
	St Lucia Eyes Income Tax Cuts, After VAT Implementation 5/16/2012 The government of Saint Lucia has outlined new tax measures in its latest Budget to shift the tax burden from direct to indirect taxes.
	Belgian Residents Stifled By Hollande's Tax Plans 5/15/2012 Over 100,000 Belgians will be affected by French President-elect François Hollande’s plans to increase the taxation of secondary residences in France, according to Belgian newspaper La Libre.
	South Korea To Cut Property CGT 5/14/2012 The South Korean government has disclosed that it will try to boost the local housing market by relaxing restrictions on property transactions and cutting property transfer tax rates.
	Hungary To Abolish Bank Tax 5/11/2012 The Hungarian government has announced plans to halve the country’s bank tax in 2013, before subsequently abolishing the levy in 2014.
	Parliamentary Committee Approves Philippines 'Sin Tax' Reform 5/11/2012 The Ways and Means Committee of the Philippines House of Representatives has approved an amended version of the bill to reform the existing ‘sin taxes’ on alcohol and cigarette products.
	Spain 'Confident' 2012 Budget Plans Will Spark Growth 5/10/2012 Spain’s Secretary of State responsible for Budget and Expenditure Marta Fernandez Curraz has recently defended the country’s budgets for 2012, insisting that they are based on discipline and fiscal consolidation, to enable the government to confidently overcome the crisis.
	Australian Budget Scraps Planned Business Tax Cuts 5/10/2012 A planned cut to business tax rates will not go ahead in Australia, as the government seeks to redirect projected mining tax revenue to help families and small businesses in the face of ongoing disputes with opposition parties.
	Indonesia Imposes Export Tax, Restrictions On Mineral Ore Exports 5/7/2012 The Indonesian government is to place a tax on the export of certain raw minerals, as well as banning their export by mining companies that have not agreed plans for local processing in the country.
	Hong Kong Vows To Maintain Stable Property Market 5/8/2012 In a speech to the Oxford and Cambridge Society of Hong Kong, the Financial Secretary John C Tsang said that the government's initiatives to maintain a stable property market have been fairly effective, but that it would have “no hesitation in applying further measures,” if necessary.
	China Introduces CorporateTax Breaks For IT 5/7/2012 To encourage innovation in information technology and industrial technical upgrading, China’s State Administration of Taxation has announced preferential corporate income taxes for producers of software and integrated circuits.
	Merkel Set For Battle On Tax Cut Plans 5/8/2012 Ahead of a crucial vote in the Bundesrat, Germany’s upper house of parliament, German Chancellor Angela Merkel has warned the federal states not to block the government’s EUR6bn (USD8bn) tax cut plans, aimed at combating fiscal drift in the country’s income tax law.
	France Begins Examination Of Hollande's Election Tax Package 5/8/2012 Following the upcoming legislative elections in June, French lawmakers are to convene during an extraordinary session in July to examine a bill containing the fiscal pledges outlined by President-elect François Hollande during his election campaign, expected to increase the fiscal burden on households in France to the tune of around EUR14bn (USD18.26bn).
	Tax Guidance Issued For Foreign Ships Visiting Australia 5/4/2012 The Australian Taxation Office has recently issued guidance on the tax requirements that must be met by foreign-based ship owners and charterers carrying passengers, livestock, mail or goods shipped in Australia.
	Russia Hikes Gas Tax, Rethinks Luxury Tax 5/4/2012 The Russian government has confirmed proposals to hike the tax paid by natural gas extractors, hitting both the majority state-owned Gazprom as well as private ventures.
	Spanish U-Turn Sees VAT Rise In 2013 5/4/2012 Marking a dramatic about-turn, the Spanish government has confirmed plans to introduce a ‘notable’ rise in value-added tax and to increase special taxes imposed on alcohol and tobacco next year.
	Dutch PM Confirms Bank Tax Rise 5/2/2012 The caretaker Prime Minister of the Netherlands Mark Rutte has confirmed that the country's proposed bank tax will be increased as part of the government's latest budget agreement, designed to reduce the deficit to 3% of gross domestic product next year.
	Dutch Lawmakers Unite On Austerity Budget 5/1/2012 Despite the recent collapse of Mark Rutte's minority coalition government and ensuing panic on the already anxious markets, the Dutch parliament has finally adopted the country’s budget package, designed to reduce the budget deficit to 3% of gross domestic product in 2013, and providing for savings of around EUR12bn (USD15.9bn) next year.
	Taiwan's Cabinet Tweaks Final CGT Structure 4/30/2012 Taiwan’s Finance Minister Christina Liu has confirmed the government has agreed the final structure of the new capital gains tax, that it intends to impose on profits made from trading in shares and bonds.
	Greek Conservatives Pledge Sweeping Tax Cuts 4/27/2012 Unveiling details of his economic programme in Athens recently, ahead of the May 6 elections, Greece’s New Democracy conservative leader Antonis Samaras pledged to reduce taxes and to increase spending on low pensions, while at the same time ensuring that the ambitious deficit reduction targets agreed with international moneylenders are met.
	Swiss Parliament Adopts Tax Deal With Austria 4/25/2012 Switzerland’s Federal Council has recently adopted the text of the withholding tax agreement with Austria.
	Committee Scrutinizes UK Top Tax Rate Cut 4/23/2012 The UK tax authority, HM Revenue and Customs, should publish a new assessment on the likely impact of lowering the UK's top rate of income tax, a group of lawmakers has said, warning that the costs and benefits of the measure are both highly uncertain.
	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.
	USVI, Puerto Rico Look For Rum 'Cover Over' Extension 4/24/2012 Legislation has been introduced into both the United States Senate and the House of Representatives to extend the 'cover over' of the excise tax on rum for Puerto Rico and the US Virgin Islands.
	Taiwan Mulls Reduced Tax Rate For Expatriates 4/20/2012 It is likely that the government will propose measures to attract foreign professionals and other white-collar managers to Taiwan, on the instigation of the Taiwanese Premier Sean Chen.
	China Replaces Airport Tax With New Fee 4/18/2012 China’s Ministry of Finance has issued a notice confirming that, while the previous airport tax has been abolished, air passengers will now have to pay an equivalent fee to finance a newly-constituted Civil Aviation Development Fund.
	Hong Kong, Indonesia DTA Comes Into Force 4/17/2012 It has been announced that the agreement for the avoidance of double taxation, signed between Hong Kong and Indonesia on March 23, 2010, came into force on March 28 this year, after the completion of ratification procedures on both sides.
	Obama's Buffett Tax Fails To Pass Through US Senate 4/18/2012 Despite pressure from President Barack Obama, the Democrat Party-led United States Senate has been unable to advance his proposed ‘Buffett Rule’ tax measure in the face of Republican Party opposition.
	South Africa Consults On Long-Term Insurers' CGT 4/18/2012 With regard to the proposals announced in the South African 2012/13 Budget in February this year, the National Treasury has released for public comment details on how increased capital gains tax rates will be applied to long-term insurers.
	Swiss Bankers Welcome Tax Deal With Austria 4/18/2012 The Swiss Bankers Association has recently taken note of the signing of the bilateral tax agreement between Switzerland and Austria, and has welcomed the fact that the Confederation’s strategy for tax conformity, defined over two years ago, has now been substantiated with a third European country following the agreements signed with the UK and with Germany.
	Hong Kong, Spain DTA Enters Into Force 4/16/2012 The agreement for the avoidance of double taxation, signed between Hong Kong and Spain on April 1 last year, came into force on April 13, after the completion of ratification procedures on both sides.
	Details Provided Of Taiwan's Proposed CGT 4/17/2012 Taiwan's Finance Minister Christina Liu has announced the structure of the new capital gains tax that the government will impose on profits made from trading in shares, bonds and derivative products, such as futures and options.
	Study Points Out Differences In US State Sales Taxes 4/16/2012 The Tax Foundation has pointed out that sales taxes in the United States, which are levied not only by state governments but also by city, county, Native American and special district governments, can have a profound impact on the total rate that consumers see at the check-out register.
	Full Steam Ahead For Swiss-Austrian Tax Deal 4/13/2012 Austria’s Finance Minister Maria Fekter is due to meet her Swiss counterpart Eveline Widmer-Schlumpf in Bern on April 13, to sign a bilateral tax agreement between the two countries aimed at resolving the outstanding issue of undeclared Austrian money held in the Confederation’s banks, according to the Swiss Finance Ministry.
	Czech Cabinet Unites On Austerity Package 4/13/2012 Following months of internal conflict, the Czech cabinet has finally adopted the comprehensive savings programme agreed by the coalition parties, containing a raft of savings measures and planned tax rises aimed at consolidating the country’s finances.
	Sarkozy Outlines Ambitious Campaign Tax Plans 4/13/2012 France’s outgoing President Nicolas Sarkozy has recently unveiled details of his election proposals aimed at creating ‘a strong France’, and containing a raft of tax measures, intended to attract voters.
	Osborne 'Shocked' By UK Tax Dodging 4/13/2012 George Osborne has admitted to being 'shocked' by high levels of tax avoidance amongst the UK's wealthiest people, hinting at his support for a so-called 'tycoon tax'.
	Germany's SPD Rejects Revised Swiss Tax Deal 4/12/2012 Sigmar Gabriel, leader of Germany’s Social Democrats, has once again reiterated his party’s intention ‘to stop’ the Swiss tax deal in the Bundesrat, where the coalition lacks the necessary majority, despite the recent signing of a Supplementary Protocol to the agreement, aimed at appeasing both the German opposition parties and the federal states, as well as the European Commission.
	Committee To Review Indian E-Refund Proposals 4/11/2012 A committee is to review India's e-refund system for the reimbursement of tax paid on taxable services used for the export of goods.
	HMRC Could Investigate Apple's UK Tax Affairs 4/11/2012 Just days after it emerged that Amazon was under investigation by the UK taxman, Apple has come under fire for its payment of just GBP10m in UK corporate tax.
	Taiwan's CGT Unlikely To Affect Small Retail Investors 4/12/2012 Following a further meeting of the government’s tax reform committee, Taiwan’s Minister of Finance Christina Liu has indicated that the proposal on a new capital gains tax on stock exchange profits is likely to be presented to the Executive Yuan shortly, but would also then need to be passed through the Legislative Yuan.
	CIOT Expects UK-Swiss Tax Deal Re-Write 4/11/2012 Changes to the Swiss-German tax treaty could lead to higher charges for UK holders of undeclared Swiss bank accounts, the Chartered Institute of Taxation has warned.
	France's Hollande Unveils 'Vast' Tax Reform Plans 4/11/2012 Bernard Cazeneuve, spokesman for the French Socialist presidential candidate François Hollande, has recently unveiled details of Hollande’s tax reform plans, designed to simplify and to make more transparent the current tax system, and to create greater fiscal justice in France, reflecting true Republican values.
	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.
	Hong Kong-Japan DTA Comes Into Effect 4/6/2012 The governments of Japan and Hong Kong have exchanged notes and agreed that the double taxation agreement between the two countries entered into force on April 1, 2012.
	German Lawmakers Adopt Updated DTA With Turkey 4/5/2012 The German Bundestag, or lower house of parliament, has recently adopted the federal government’s bill pertaining to the bilateral double taxation agreement with Turkey, signed in Berlin by German Finance Minister Wolfgang Schäuble and his Turkish counterpart Mehmet Simsek on September 19, 2011.
	US Now Has OECD's Highest Corporate Tax Rate 4/3/2012 On April 1, the long-awaited day arrived when, following a marginal net corporate tax reduction by Japan, it could be said that the United States has the highest corporate tax rate amongst the countries in the Organization for Economic Co-operation and Development.
	Ireland Faces Household Charge Backlash 4/3/2012 Action against Ireland's household tax continues apace, with only 61% of liable households expected to pay the tax and over 5,000 people marching through the streets of the capital in protest.
	Slovakia's Fico Eyes End To Popular Flat Tax 3/30/2012 Tasked by Slovak President Ivan Gasparovic with the role of forming a new government, Slovakia’s recent election victor Robert Fico has announced plans to abolish the country’s flat tax and to reintroduce a progressive system of taxation.
	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.
	Cantor Proposes US Small Business Tax Cut 3/23/2012 The United States House of Representatives Majority Leader Eric Cantor has introduced the Small Business Tax Cut Act of 2012, aimed at helping small businesses to grow and to hire new workers.
	Australian Parliament Passes Mining Tax 3/23/2012 Australia’s controversial Minerals Resource Rent Tax has made it through parliament after a long battle with the opposition.
	GOP Budget Provides US Tax Cuts 3/22/2012 The Republican Party’s 2013 budget, proposed by the House of Representatives Budget Paul Ryan (R – Wisconsin), which reduces government spending to curb its fiscal deficit and debt levels, also includes the framework for a revenue-neutral reform of the United States tax code.
	Philippines Will Not Cancel VAT On Oil 3/19/2012 Despite political and transport industry pressure following further increases to the domestic price of oil products, the Philippines government has insisted that the 12% rate of value-added tax on oil products will remain.
	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.
	Thailand Shelves VAT Hike 3/16/2012 Thailand’s Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong has said that the government has no intention of increasing the country’s value added tax rate.
	Chile Looks To Raise Corporate Tax 3/16/2012 Chile is to make permanent next year the 20% corporate income tax rate which was temporarily imposed last year but reduced to 18.5% this year, as part of a comprehensive tax reform package, due to be outlined in April.
	Ireland To Extend Betting Tax To Online Bookies 3/15/2012 Ireland's online bookmakers will soon be liable to a transactions tax, bringing the country's internet gambling regime in line with that imposed on high-street shops.
	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.
	Swiss 'Flat Taxes' Under Attack 3/14/2012 During recent federal and cantonal votes, the Swiss canton of Appenzell Ausserrhoden in the north of Switzerland voted in favour of abolishing the flat rate of tax currently benefiting wealthy foreigners.
	Germany Defends VAT Rules For Art 3/14/2012 Germany’s State Minister for Culture Bernd Neumann has recently underlined his grave concerns regarding the European Commission’s request that Germany apply the full rate of value-added tax to the supply of works of art and collectors’ items.
	Sarkozy, Hollande Lock Horns On Taxation 3/14/2012 With just a month and a half to go before the start of the elections, French presidential candidates Nicolas Sarkozy and his Socialist rival François Holland have once again crossed swords on the key battleground issue of taxation.
	Deputy PM Backs UK 'Tycoon Tax' 3/13/2012 The UK's Deputy Prime Minister Nick Clegg has voiced his support for a 'tycoon tax', with a minimum tax rate enshrined in legislation to make sure everyone pays a 'fair share'.
	US Lawmakers Mull Small Business Tax Reforms 3/13/2012 The House of Representatives Committee on Ways and Means has held a hearing to examine how the United States tax code affects closely-held businesses, and how and under which sets of rules such firms should be taxed within any future tax reform.
	China Adds Tax Incentives For 'Green' Vehicles, Ships 3/9/2012 China’s State Administration of Taxation and the Ministry of Finance have jointly disclosed that tax rates will be cut to encourage further energy conservation and environmental protection through the increased use of vehicles and ships with low emissions or those utilizing green energy resources.
	Swiss Lawmakers Raise Foreigners' Flat Tax 3/9/2012 The Swiss Council of States has recently voted by a large majority in favour of plans to increase the flat rate of tax currently benefiting wealthy foreigners in Switzerland.
	German Hotel Industry Defends Reduced VAT 3/8/2012 The German hotel industry has recently vehemently defended the reduced 7% rate of value-added tax accorded to overnight services in the sector.
	Germany 'Modifies' EU-Contested Swiss Tax Deal 3/9/2012 Germany and the European Commission have reportedly resolved their differences over the bilateral German-Swiss withholding tax deal aimed at preventing tax evasion.
	Coalition In Talks To Scrap UK's Top Tax Rate 3/8/2012 There is a 'very broad understanding' within the coalition that the UK's top rate of income tax will be scrapped, the Business Secretary has confirmed. His hopes to see a mansion tax introduced may however be hit by new research showing that the case for the levy is far weaker than it at first appears.
	IMF Spells Out San Marino's Fiscal Challenges 3/8/2012 With San Marino adopting tax transparency, the territory now faces significant challenges in stabilizing the country's banking system and implementing structural tax reforms to provide stable tax revenues, the International Monetary Fund says.
	Noda Hopes To Deal With Opposition On Tax Hike 3/8/2012 The Japanese Prime Minister Yoshihiko Noda has confirmed, in a news conference with foreign journalists, that he still hopes to have fruitful discussions with the parliamentary opposition, led by the Liberal Democratic Party, on the government’s plan to raise the country's consumption tax from 2014.
	Australian Govt Introduces New Superannuation Reforms 3/8/2012 New legislation amending Australia's superannuation tax rules will make the system simpler and fairer, the minister in charge has said.
	CII Calls On India To Cut Coal Duty 3/6/2012 The Indian government should consider a reduction in customs duty on non-coking coal, the Confederation of Indian Industry has said.
	Cypriot VAT Hike Takes Effect 3/5/2012 An increase to Cyprus's value-added tax rate came into effect on March 1, 2012, as part of a package adopted in December to speed progress towards European Union fiscal retrenchment targets.
	Brazil Introduces New IOF Tax Changes 3/6/2012 Brazil announced its decision on March 1, to expand the scope of its financial transactions tax, IOF, on short-term loans and bonds.
	'Cut 50% Tax Rate', SMEs Tell UK Chancellor 3/6/2012 The sooner the UK's top rate of income tax is scrapped, the better, a group of small and medium-sized enterprise leaders have told the Chancellor of the Exchequer.
	Bermuda Announces 2012 Budget 3/5/2012 Bermuda's Finance Minister Paula Cox has released the territory's budget for 2012, containing a number of tax measures to boost tax revenues and employment.
	Philippines Advised To Scrap Airline Taxes 3/2/2012 Following a study by Oxford Economics, the International Air Transportation Association has pointed out the benefits that would accrue to the Philippines economy, if the government was to remove taxes imposed on foreign airlines.
	China To Expand VAT Pilot To Beijing 3/5/2012 Following the beginning of China’s pilot scheme to replace the existing business tax on the country’s service sector with value-added tax in Shanghai on January 1 this year, it has been confirmed that it will be extended to Beijing, commencing on July 1.
	French Lawmakers Pass 2012 Collective Budget 3/2/2012 The French National Assembly has definitively adopted during a new reading the government’s 2012 supplementary finance bill, a text which had previously been rejected by the Senate, and providing notably for a rise in the standard rate of value-added tax and for the introduction of a financial transactions tax in France.
	Hong Kong Lauds Effectiveness Of Special Stamp Duty 3/2/2012 Hong Kong’s Secretary for Transport and Housing, Eva Cheng, has said that the special stamp duty, which was introduced in November 2010, has been effective in curbing short-term property speculative activities.
	France's Hollande Eyes 75% Tax Rate 3/1/2012 French Socialist candidate for the Elysée François Hollande has recently announced plans if elected to introduce a top rate of income tax in France of 75%, imposed on income in excess of EUR1m (USD1.3m) a year.
	Fiji's Tax Cuts Under IMF Microscope 2/28/2012 The International Monetary Fund warned that while Fiji's recent budget was particularly growth-friendly, the tax changes could threaten the revenue base and therefore further offsetting measures may be required to ensure deficit targets are met going forward.
	US Slaps Duties On Korean Power Transformers 2/28/2012 The US Department of Commerce has announced the introduction of anti-dumping duties following an investigation into South Korean large power transformers.
	UK Tax Revenues Below Expectations 2/28/2012 Growth in the UK's tax revenues was significantly lower than forecast, largely due to a fall in value added tax and weak self-assessment receipts.
	French Senate Rejects 2012 Finance Bill 2/27/2012 The French Senate has recently rejected the country’s 2012 supplementary finance bill, a text adopted by the French National Assembly during its first reading on February 21.
	EU Opens FTA Talks With Armenia 2/27/2012 The European Union has confirmed its decision to launch negotiations with Armenia towards a deep and comprehensive free trade area to boost bilateral trade and investment ties.
	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.
	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.
	French Unions Up The Ante On Internet Tax 2/23/2012 The French union of national daily newspapers has called for a tax to be imposed on stakeholders in the digital economy, notably Internet service providers, search engines, portals, and manufacturers, and for the product of the tax to be redistributed among editors of the written press.
	China To Reinstate Export Tax Rebates 2/24/2012 Zhong Shan, Deputy Commerce Minister, at the recent 2012 China Imports and Exports Work Conference held in Nanchang, disclosed that China will use export value-added tax rebates to counteract any decrease in exports arising out of the European debt crisis.
	Vietnam Cuts Fuel Import Taxes 2/23/2012 On February 21, with immediate effect, Vietnam’s Ministry of Finance issued a circular which cuts import tax on gasoline, solvents, aviation fuel, diesel and kerosene.
	Obama Proposes Corporate Tax Cut 2/24/2012 The United States Treasury has issued a report presenting President Barack Obama’s revenue-neutral proposals for corporate tax reform, cutting the tax rate to 28% from the current 35% rate, but also closing loopholes used by corporations to reduce their tax burdens.
	Isle Of Man Lures Another Gaming Company 2/23/2012 The Isle of Man government has welcomed the successful application of TWLV for a license to operate a new online bingo site from the island.
	UK, Singapore Ink DTA Protocol 2/22/2012 The UK and Singapore have signed a second protocol to their existing Double Taxation Agreement, amending withholding tax rates.
	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.
	Paying Taxes Survey Unveiled By PwC 2/20/2012 60% of world economies have made paying taxes easier over the past seven years, a new study has shown, with total tax rates falling by an average of 8.5%.
	OECD Urges Norway To Rethink Capital Taxes 2/20/2012 The Organisation for Economic Cooperation and Development, in a recent report on Norway's fiscal policy, has recommended a comprehensive review of the Norwegian tax regime with respect to capital taxation and its wealth tax.
	US Congress Passes Payroll Tax Extension 2/21/2012 As was expected, and just in time before the short Congressional recess, an extension of the United States payroll tax cuts and unemployment benefits, from the end of this month to the end of the year, passed through both the House of Representatives and Senate with varying degrees of bipartisan support.
	Brazil Rethinks Vehicle Import Tax Hike 2/20/2012 The Brazilian government has confirmed its intention to soften its controversial protectionist tax hike on vehicles comprised mainly of foreign components, in place since November 15, 2011.

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