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Latest News

South African Budget Lines Up Tax Hikes

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, February 24, 2017

South Africa's 2017-18 Budget, announced by Minister of Finance Pravin Gordhan on February 22, has had to resort to tax hikes, particularly on the wealthy, in order to stabilize the country's fiscal position. Read Full Story

 

US Tax Reform Only After Obamacare Repeal: Trump

by Mike Godfrey, Tax-News.com, Washington

Friday, February 24, 2017

US President Donald Trump has pointed out that legislation to repeal the Affordable Care Act and its taxes will need to be passed in the US Congress before a tax reform bill can be presented. Read Full Story

 

 

EU Concerned By Ireland's Narrow Tax Base

by Ulrika Lomas, Tax-News.com, Brussels

Friday, February 24, 2017

The European Commission has expressed concerns about Ireland's narrow tax base and its reliance on corporate tax receipts. Read Full Story

 

Philippines Hopes To Have Overhauled Tax Code By 2018

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

Friday, February 24, 2017

The Filipino Government is optimistic that it can overhaul the Philippines' tax regime by 2018 through a two-step approach. Read Full Story

 

 

Czech Ruling Party Proposes Progressive Taxes

by Ulrika Lomas, Tax-News.com, Brussels

Friday, February 24, 2017

Czech Prime Minister Bohuslav Sobotka has announced plans for more progressive corporate and personal income taxes if his party wins this year's parliamentary elections. Read Full Story

 

Macron Sets Out Tax Policies For France

by Ulrika Lomas, Tax-News.com, Brussels

Friday, February 24, 2017

Emmanuel Macron has said that if elected President of France he will cut corporate tax beyond reductions already planned by the current Socialist Government and reform France's wealth tax. Read Full Story

 

 

IRS Makes Charity Information Available Online

by Leroy Baker, Tax-News.com, Washington

Friday, February 24, 2017

The US Internal Revenue Service has for the first time placed information online from applications from charities for tax-exempt status. Read Full Story


USITC Stops Dispute Over Imported Chinese Tires

by Glen Shapiro, Tax-News.com, New York

Friday, February 24, 2017

On February 22, the US International Trade Commission decided that the US industry is not being materially injured, or threatened with material injury, by reason of imports of truck and bus tires from China. Read Full Story

 

 

Lobby Groups Seek Rational UK Alcohol Tax Regime

by Jason Gorringe, Tax-News.com, London

Friday, February 24, 2017

The UK Chancellor is coming under pressure to use the upcoming Budget to hike duty on cheap, high strength alcohol. Read Full Story

 

Hong Kong Confirms Tax Breaks For Electronic Vehicles

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

Friday, February 24, 2017

On February 22, Hong Kong's Environment Bureau announced the details of the first registration tax concessions for different classes of electric vehicles for the period from April 1, 2017, to March 31, 2018. Read Full Story

 

 

WTO's Trade Facilitation Agreement Enters Into Force

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, February 23, 2017

The European Union has welcomed the entry into force of the WTO Trade Facilitation Agreement, which aims to modernize and simplify customs and border procedures. Read Full Story

 

Hong Kong's Budget Provides Tax Relief

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

Thursday, February 23, 2017

Hong Kong's Financial Secretary, Paul Chan, has announced measures to boost the territory's economy in his 2017-2018 Budget. Read Full Story

 

 

Switzerland To Draw Up New Corporate Tax Plan

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, February 23, 2017

The Swiss Federal Council has asked the Finance Department to draw up new proposals for corporation tax reform by mid-2017 at the latest, following its recent referendum defeat. Read Full Story

 

More Criticism Of Proposed US Border Adjustment Tax

by Scott Hamilton, Tax-News.com, Washington

Thursday, February 23, 2017

Americans for Affordable Products, a business coalition that opposes the proposed border adjustment tax, has responded to the February 21 letter to leading US lawmakers from the American Made Coalition supporting border adjustability. Read Full Story

 

China 'Would Respond' To Any US Border Tax

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

Thursday, February 23, 2017

At a press briefing on February 21, China's Minister of Commerce, Gao Hucheng, indicated that his country would react were the US to impose a border adjustment tax. Read Full Story

 

Macao Urged To Hike Individual Taxes

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

Thursday, February 23, 2017

Macao may need to significantly reduce its already low income tax rates to attract foreign investors and professionals as revenues from its gaming industry fall, the International Monetary Fund (IMF) has said. Read Full Story

 

Noonan Provides Update On Irish Voluntary Disclosures

by Jason Gorringe, Tax-News.com, London

Thursday, February 23, 2017

Irish Finance Minister Michael Noonan has confirmed that 13 voluntary disclosures relating to offshore matters have been made since the Budget announcement that the regime would change from May 2017. Read Full Story

 

Laos Must Broaden Tax Base, Strengthen Administration: IMF

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

Thursday, February 23, 2017

Laos should increase its revenues by broadening the tax base, reducing exemptions, and strengthening tax administration, the International Monetary Fund said in its Article IV Report for the country. Read Full Story

 

Australian Tax Agency Explains Spouse Tax Offset Change

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

Thursday, February 23, 2017

The Australian Taxation Office has issued guidance on changes to the spouse tax offset that will enter into force on July 1. Read Full Story

 

UAE Signs Double Taxation Agreement With Burundi

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, February 23, 2017

The UAE and Burundi have signed two agreements to avoid double taxation and promote investments between the countries. Read Full Story

 

Scottish Parliament Agrees New Income Tax Settings

by Jason Gorringe, Tax-News.com, London

Wednesday, February 22, 2017

Scottish lawmakers have approved plans for the structure of the nation's new individual income tax regime, following the tax devolution agreement with the UK. Read Full Story

 

EU Reaches Agreement On Tackling Hybrid Mismatches

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, February 22, 2017

On February 21, 2017, the European Council reached a compromise on a new Directive aimed at closing down hybrid mismatches between EU tax systems and those of non-EU countries. Read Full Story

 

BCA Opposes Changes To Aus Petroleum Resource Rent Tax

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

Wednesday, February 22, 2017

In its submission to the Petroleum Resource Rent Tax review, the Business Council of Australia has said that the Government should not pursue changes to the regime unless there are clear benefits from doing so. Read Full Story

 

Northern Irish Gov't Mulling 10 Percent CIT Rate

by Jason Gorringe, Tax-News.com, London

Wednesday, February 22, 2017

Arlene Foster, Northern Ireland's First Minister, has said her Democratic Unionist Party – the territory's largest political party – would support a cut in the corporate income tax rate to 10 percent if her government is reelected. Read Full Story

 

Italy Looking For Avenues To Increase Tax Revenues

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, February 22, 2017

It still remains uncertain as to how Italy's additional 2017 fiscal adjustment required by the European Commission will be funded, but a major part could involve cuts to individual income tax deductions. Read Full Story