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Business News




Hong Kong Ranked As Freest Economy For 22nd Year

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

Friday, February 17, 2017

For the 22nd consecutive year, Hong Kong has maintained its position as the world's freest economy in the 2017 Index of Economic Freedom from the Heritage Foundation. Read Full Story

 

UK VAT Flat Rate Scheme Changes Too Far-reaching, Warn Tax Experts

by Jason Gorringe, Tax-News.com, London

Friday, February 17, 2017

HM Revenue and Customs's new measure to crackdown on abuse of a VAT simplification scheme for small businesses may be ineffective and have unwelcome consequences for tax-compliant businesses, the Chartered Institute of Taxation has said. Read Full Story

 

 

US Retailers Talk Tax Reform With Trump

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

Thursday, February 16, 2017

The Retail Industry Leaders Association and CEOs of several large US retail companies met President Donald Trump on February 15 to discuss US tax reform, and to express their opposition to the proposal for border adjustability. Read Full Story

 

UK Chamber Calls For Property Tax Reform

by Jason Gorringe, Tax-News.com, London

Thursday, February 16, 2017

The UK Government should reform the business rates (commercial property tax) system in the upcoming Budget to support long-term business investment, the British Chambers of Commerce has said. Read Full Story

 

 

Spanish Penalties On Overseas Undeclared Assets Challenged

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, February 16, 2017

The European Commission has called on Spain to lower the penalties it applies to taxpayers who fail to report assets held abroad. Read Full Story

 

South Africa Consults On Diesel Fuel Tax Refund Overhaul

Lorys Charalambous, Tax-News.com, Cyprus

Thursday, February 16, 2017

The South African National Treasury has issued a discussion paper on a new diesel tax refund system, reviewing its administration and addressing anomalies related to its qualifying activities and beneficiaries. Read Full Story