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International Tax »

OECD Releases New Tax Info Exchange Standard

The Organisation for Economic Cooperation and Development on July 21, 2014, released its new global Standard for Automatic Exchange of Financial Account Information in Tax Matters, hailing the move as another important step towards greater tax transparency and the end of banking secrecy. Continue Reading »

International Law »

Macedonia Plans Free Zone For Professional Services

Macedonia is planning special economic zones with considerable tax breaks, but there has been suspicion about the benefits of such a move with concerns locally that they might attract criminal activity. Continue Reading »

Politics & Economics »

Jersey Presents 2015 Budget

Jersey has announced conservative measures intended to maintain a stable tax system and a low rate on personal income in its draft 2015 fiscal budget. Continue Reading »

Offshore »

US Treasury Wants Immediate Anti-Inversion Legislation

With reports of more American companies looking to use the opportunity to move their headquarters abroad when bidding for overseas companies, the United States Treasury Secretary Jack Lew has written to Congressional leaders urging immediate action to pass legislation to prevent such corporate inversions. Continue Reading »

Business »

Philippine Bill Extends Shipping Income Tax Exemption

With the Philippine Overseas Shipping Development Act expiring this year, a bill has been introduced into the House of Representatives, seeking to extend the expiring income tax exemption granted to the country's shipping industry. Continue Reading »

E-Commerce »

House Passes Permanent US Internet Tax Moratorium

On July 15, by a voice vote, the United States House of Representatives passed the Permanent Internet Tax Freedom Act, which would permanently extend the Internet Tax Freedom Act and avert a possible tax increase on internet access later this year. Continue Reading »

Aviation »

Egypt Confirms USD25 Airport Departure Tax

Egypt has confirmed that it is adding a USD25 airport departure tax to flight fares to boost revenue for the cash-strapped state. Continue Reading »

Marine »

EC Questions Tax Perks For Dutch, Other EU Ports

The European Commission has opened an in-depth investigation into Dutch corporate tax exemptions granted to public companies, including port operators. Continue Reading »

World Budget News and Information


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