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Latest News

US 2018 Budget Says Tax Reform To Be Deficit-Neutral

by Mike Godfrey, Tax-News.com, Washington

Last updated 14 hours ago | Monday, May 29, 2017

The Trump Administration's first full budget reaffirms the tax reform proposals put forward by the President's team last month and indicates that a reform package will be deficit-neutral. Read Full Story

 

New Zealand Budget To Cut Tax On Lower Earners

by Mary Swire, Tax-News.com, Hong Kong

Last updated 14 hours ago | Monday, May 29, 2017

New Zealand's Parliament has passed legislation to increase income tax thresholds for lower- and middle-income earners. Read Full Story

 

 

Hong Kong Lawmakers Pass Budget Tax Measures

by Mike Godfrey, Tax-News.com, Washington

Last updated 14 hours ago | Monday, May 29, 2017

Lawmakers in Hong Kong on May 25 passed the numerous tax changes that were announced in the 2017-18 Budget. Read Full Story

 

Confidence Among Irish SMEs Shaky

by Jason Gorringe, Tax-news.com, London

Last updated 14 hours ago | Monday, May 29, 2017

Confidence among Ireland's small businesses has improved over the past six months but remains below pre-Brexit levels, with the Small Firms Association calling on the Government to support the sector by improving the tax system. Read Full Story

 

 

Firms In High-Tax EU States Support Single EU-Wide Rate

by Ulrika Lomas, Tax-News.com, Brussels

Last updated 14 hours ago | Monday, May 29, 2017

Most European businesses (53 percent) support the creation of a single EU-wide corporate tax rate, according to a survey by Grant Thornton. Read Full Story

 

Australian Miners Hail Peru Trade Talks

by Mary Swire, Tax-news.com, Hong Kong

Saturday, May 27, 2017

The Minerals Council of Australia has said that the country's mining sector will benefit from the proposed new free trade agreement with Peru. Read Full Story

 

 

India Launches 'Project Clean Money' Portal

by Mary Swire, Tax-News.com, Hong Kong

Last updated 14 hours ago | Monday, May 29, 2017

The Indian tax authority has launched the Operation Clean Money portal, which is intended to support its efforts to challenge potentially non-compliant taxpayers who may have failed to declare income deposited in bank accounts. Read Full Story


Americans For Tax Reform Backs Simple Tax Form For Seniors

by Mike Godfrey, Tax-News.com, Washington

Last updated 14 hours ago | Monday, May 29, 2017

Americans for Tax Reform has urged all members of Congress to support a bill aimed at simplifying tax filing for American seniors. Read Full Story

 

 

Scotland Appoints President To New Tax Tribunal

by Jason Gorringe, Tax-News.com, London

Last updated 14 hours ago | Monday, May 29, 2017

Scotland has announced the appointment of a Tax Chamber President for its First-Tier Tribunal, which became operational from April 24, 2017. Read Full Story

 

WTO Reviews Trade Policies In Switzerland, Liechtenstein

by Ulrika Lomas, Tax-news.com, Brussels

Saturday, May 27, 2017

The WTO has published its fifth review of the trade policies and practices of Switzerland and Liechtenstein, in which it noted that the trade regimes in both countries remain generally open. Read Full Story

 

 

EU To Continue With Common Corporate Tax Base Talks

by Ulrika Lomas, Tax-news.com, Brussels

Wednesday, May 24, 2017

EU Vice-President Valdis Dombrovskis has said there is a broad consensus among European finance ministers on the principle of greater tax harmonization, and that talks will continue on the proposed common corporate tax base. Read Full Story

 

Malmstrom: EU, US Need More Time On Trade Deal

by Ulrika Lomas, Tax-news.com, Brussels

Wednesday, May 24, 2017

EU Trade Commissioner Cecilia Malmstrom has said that the case remains for an ambitious trade agreement with the US, but that both sides "need a bit more time." Read Full Story

 

 

Hungary Approves Advertising Tax Hike

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, May 24, 2017

The Hungarian parliament has approved an increase to the country's advertising tax, despite concerns that the measure breaches European Union state aid rules. Read Full Story

 

UK Conservatives To Target Tax Advisory Firms

by Jason Gorringe, Tax-News.com, London

Wednesday, May 24, 2017

The UK Conservative Party has outlined plans to "legislate for tougher regulation of tax advisory firms." Read Full Story

 

Smaller Businesses Less Prepared For UAE GST

by Lorys Charalambous, Tax-News.com, Cyprus

Wednesday, May 24, 2017

According to a survey conducted earlier this month, more than half of businesses based in the United Arab Emirates do not have an implementation strategy in place for the forthcoming introduction of VAT in the territory from January 2018. Read Full Story

 

G20 Nations Should Work Together On Carbon Taxation: OECD

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, May 24, 2017

G20 countries should share experiences on taxing carbon dioxide emissions, to develop more effective regimes, a new report from the OECD says. Read Full Story

 

NZ Taxpayers Favor Increased Spending Over Tax Cuts

by Mary Swire, Tax-News.com, Hong Kong

Wednesday, May 24, 2017

New Zealanders believe that tax cuts are important but not a priority, according to research published ahead of the May 25 budget. Read Full Story

 

Canada Extends Consultation On Farming Tax Break

by Mike Godfrey, Tax-news.com, Washington

Wednesday, May 24, 2017

The Canadian Finance Department has extended to July 24 a consultation on the future of the income tax deferral available in respect of cash purchase tickets for deliveries of certain grains. Read Full Story

 

Mexican Sugar Industry Seeks Equal Border Tax On US Sugar

by Mike Godfrey, Tax-News.com, Washington

Wednesday, May 24, 2017

Mexican sugar producers are seeking the introduction of anti-dumping duties on US fructose, similar to those proposed to be introduced by the US. Read Full Story

 

Tax Foundation To Campaign Against Retroactive US Tax Law Changes

by Mike Godfrey, Tax-News.com, Washington

Tuesday, May 23, 2017

The Tax Foundation has spoken out against the United States Supreme Court's decision to refuse to hear challenges against a state-level tax law change imposed retroactively. Read Full Story

 

Australian Banks Count Cost Of New Levy

by Mary Swire, Tax-news.com, Hong Kong

Tuesday, May 23, 2017

Two more of Australia's largest banks have begun assessing the impact of the new bank levy, with NAB expecting an annual hit of AUD350m (USD262.1m) and Commonwealth Bank estimating that the tax will cost it AUD315m a year. Read Full Story

 

EU Urges Belgium To Change Inheritance Tax Rules

by Ulrika Lomas, Tax-News.com, Brussels

Tuesday, May 23, 2017

The European Commission has requested that Belgium make a change to the rules on inheritance tax in the region of Wallonia in order to bring them into line with the Treaty on the Functioning of the European Union. Read Full Story

 

Germany, France Talk Tax Harmonization

by Ulrika Lomas, Tax-News.com, Brussels

Tuesday, May 23, 2017

France and Germany may revive a plan to harmonize their corporate tax systems as they begin to explore ways to push deeper integration in the European Union. Read Full Story

 

New Zealand Firms Seek Progressive Corporate Tax

by Mary Swire, Tax-News.com, Hong Kong

Tuesday, May 23, 2017

Small and medium sized companies in New Zealand want the country to reform corporation tax in line with recent changes introduced by Australia, researchers have said. Read Full Story

 

Automatic Exchange Of Information Deadline Approaching, Says HMRC

by Jason Gorringe, Tax-News.com, London

Tuesday, May 23, 2017

UK tax authority HM Revenue and Customs has said that the deadline for submitting Automatic Exchange of Information returns for the year ended December 31, 2016, is May 31, 2017. Read Full Story