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Latest News

Hong Kong Urged To Improve PE Fund Tax Exemption

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

Last updated 10 hours ago | Thursday, July 27, 2017

Hong Kong's Financial Services Development Council has proposed that the Offshore Private Equity Fund Tax Exemption should be extended to certain Hong Kong portfolio companies to boost the development of the industry. Read Full Story

 

Turkey Tops New Tax Complexity Index

by Ulrika Lomas, Tax-News.com, Brussels

Last updated 10 hours ago | Thursday, July 27, 2017

Turkey is the jurisdiction with the world's most complex tax and accounting requirements, according to a new report by TMF Group. Read Full Story

 

 

EU Requires Belgium, France To End Port Tax Breaks

by Ulrika Lomas, Tax-News.com, Brussels

Last updated 10 hours ago | Thursday, July 27, 2017

Belgium and France must abolish corporate tax exemptions granted to their ports so as to align their tax regimes with European Union state aid rules, the European Commission has said. Read Full Story

 

UK Considers Tax On Freeplay Gambling

by Amanda Banks, Tax-News.com, London

Last updated 10 hours ago | Thursday, July 27, 2017

HM Revenue and Customs is set to introduce a tax on the free bets and discounts that are offered by gambling companies. Read Full Story

 

 

Irish Bookies Urge Caution On Betting Tax

by Jason Gorringe, Tax-news.com, London

Last updated 10 hours ago | Thursday, July 27, 2017

The Irish Bookmakers Association has submitted its recommendations to the Government's review of the betting duty regime, and said that the tax system must be fair to the domestic retail sector and internationally competitive. Read Full Story

 

Dublin Chamber Calls For Tax Breaks For Share Schemes

by Jason Gorringe, Tax-news.com, London

Last updated 10 hours ago | Thursday, July 27, 2017

The Dublin Chamber of Commerce has called on the Irish Government to introduce a tax-efficient share-based remuneration scheme for SMEs and improve the capital gains tax regime. Read Full Story

 

 

Colombia's Inland Revenue Warns Of Fraudulent Emails

by Glen Shapiro, Tax-News.com, Washington

Last updated 10 hours ago | Thursday, July 27, 2017

Colombia's Inland Revenue has warned that fraudulent emails are being sent out impersonating the agency. Read Full Story


Mighty Corporation Settles Tax Dispute With Filipino Government

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

Last updated 10 hours ago | Thursday, July 27, 2017

President of the Philippines Rodrigo Duterte revealed during his recent State of the Nation address that tobacco firm Mighty Corporation had agreed to settle three cases of tax evasion with the Filipino government. Read Full Story

 

 

Brexit Hitting Irish SME Confidence

by Jason Gorringe, Tax-news.com, London

Last updated 10 hours ago | Thursday, July 27, 2017

Business group ISME has said that confidence has fallen among Ireland's small firms, 55 percent of whom expect Brexit to have a negative impact on their bottom line. Read Full Story

 

India To Stop Businesses From Profiting From GST

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

Last updated 34 hours ago | Wednesday, July 26, 2017

It was announced on July 25 that India's GST Council has formed a selection committee to recommend appointees for a new national anti-profiteering authority. Read Full Story

 

 

MEPs Pushing For Progress On Brexit Talks

by Ulrika Lomas, Tax-news.com, Brussels

Last updated 34 hours ago | Wednesday, July 26, 2017

The European Parliament's Brexit Steering Group has stressed that discussions on a new EU-UK relationship can only begin once sufficient progress has been made on key issues involving the withdrawal process. Read Full Story

 

UK, Netherlands Biggest 'Conduits' For Offshore Investment

by Amanda Banks, Tax-News.com, London

Last updated 34 hours ago | Wednesday, July 26, 2017

Researchers at the University of Amsterdam have looked at how corporations make use of particular countries and jurisdictions to minimize their tax liabilities. Read Full Story

 

 

Romania Drops Solidarity, Turnover Tax Proposals

by Ulrika Lomas, Tax-News.com, Brussels

Last updated 34 hours ago | Wednesday, July 26, 2017

The Romanian Government has scrapped controversial plans to introduce a solidarity tax on high incomes and replace corporate income tax with a turnover tax. Read Full Story

 

Saudi Arabia Readies For Value-Added Tax

by Lorys Charalambous, Tax-News.com, Cyprus

Last updated 34 hours ago | Wednesday, July 26, 2017

Saudi Arabia has released draft regulations for the introduction of value-added tax for consultation, following recent approval of the tax framework from lawmakers. Read Full Story

 

Euro Zone Tax Policies Should Target Growth: IMF

by Ulrika Lomas, Tax-News.com, Brussels

Last updated 34 hours ago | Wednesday, July 26, 2017

Euro zone countries should lower labor taxes to boost employment and productivity and hike indirect taxes, a new report from the International Monetary Fund says. Read Full Story

 

Finland To Release Budget August 10

by Ulrika Lomas, Tax-News.com, Brussels

Last updated 34 hours ago | Wednesday, July 26, 2017

The preparation of Finland's Budget for 2018 will begin on August 8-9 with a budget session at the Ministry of Finance, the Finnish Government has announced. Read Full Story

 

Shorten Calls For Review Of 'Faults' In Aus Tax System

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

Last updated 34 hours ago | Wednesday, July 26, 2017

Australian Labor Party leader Bill Shorten has argued that Australia needs to "look at the growing and old faults lurking" in its tax system. Read Full Story

 

Jordan Planning Tax Reform This Year

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

Last updated 34 hours ago | Wednesday, July 26, 2017

Jordan is to undertake individual income tax reform this year and continue to rationalize tax breaks from 2018-19, according a report from the International Monetary Fund. Read Full Story

 

Bipartisan Support For Territorial US Tax System, BEPS Measures

by Mike Godfrey, Tax-News.com, Washington

Tuesday, July 25, 2017

Orrin Hatch (R - UT) has said that members of Congress from both parties support replacing the US worldwide tax basis system for a territorial tax system. Read Full Story

 

France Open To Negotiated Tax Settlement With Google

by Ulrika Lomas, Tax-News.com, Brussels

Tuesday, July 25, 2017

France intends to appeal against a recent court decision in favor of Google in a major tax avoidance case, but is open to settling the dispute outside of court, a government minister has said. Read Full Story

 

UK, US 'Laying Groundwork' For Future Trade Deal

by Glen Shapiro, Tax-News.com, Washington

Tuesday, July 25, 2017

US and UK officials have held their first meeting to discuss a post-Brexit free trade agreement between the countries. Read Full Story

 

Firms Withdraw Challenge To Trinidad's E-Commerce Tax

by Mike Godfrey, Tax-News.com, Washington

Tuesday, July 25, 2017

A legal challenge mounted by a number of courier companies to Trinidad and Tobago's new online purchase tax has been withdrawn. Read Full Story

 

Malaysia Hints At Sector Tax Breaks In Upcoming Budget

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

Tuesday, July 25, 2017

Malaysia is to use targeted tax breaks to support certain industries in this year's budget and in particular small and medium sized businesses, according to a government minister. Read Full Story

 

Italian Tax Police Seeks Bank Data From Credit Suisse

by Ulrika Lomas, Tax-News.com, Brussels

Tuesday, July 25, 2017

The Italian financial police, Guardia di Finanza, has requested further details on undeclared bank accounts held by Italian citizens from the Swiss authorities. Read Full Story

 

Argentina Clarifies Capital Gains Tax Liability For Foreigners

by Mike Godfrey, Tax-News.com, Washington

Tuesday, July 25, 2017

Argentina's Inland Revenue has clarified who is responsible for collecting and paying tax on the sale of shares by foreign persons and companies. Read Full Story