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Stories that are tagged 'fees'

HKMC Improves SME Financing Guarantee Scheme
5/25/2012
The Hong Kong Mortgage Corporation Limited has announced that with the government’s support, it will introduce a new 80% loan guarantee product under the SME Financing Guarantee Scheme, from May 31, 2012 and for a period of nine months.
South African Treasury Attacks E-Tolls Delay
5/21/2012
In his National Treasury Budget Vote speech, the South African Finance Minister Pravin Gordhan, has branded as 'unhelpful' the delay in the implementation of road tolls for the Gauteng Freeway Improvement Project, as it could adversely affect other infrastructure projects in the country.
St Lucia Eyes Income Tax Cuts, After VAT Implementation
5/16/2012
The government of Saint Lucia has outlined new tax measures in its latest Budget to shift the tax burden from direct to indirect taxes.
Hong Kong Abolishes Corporate Capital Duty
5/15/2012
The Registrar of Companies, Ada L L Chung, has announced that the capital duty currently levied on Hong Kong companies will be abolished from June 1, 2012.
China Plugs Its Tax Help For SMEs
5/14/2012
China’s Minister of Finance Xie Xuren, at a seminar, has emphasized the support that should be given by pro-active fiscal policies to the development of small and medium-sized enterprises in the country.
South African Government Sets Up Gauteng E-Tolls Committee
5/7/2012
Following the recent decision in the South African High Court against the levying of e-tolls, originally planned for the end of last month, on the Gauteng Freeway Improvement Project, the government has appointed a review committee to look at all aspects of financing the project.
Tax Guidance Issued For Foreign Ships Visiting Australia
5/4/2012
The Australian Taxation Office has recently issued guidance on the tax requirements that must be met by foreign-based ship owners and charterers carrying passengers, livestock, mail or goods shipped in Australia.
Court Rules Against South Africa In Road Tolls Case
4/30/2012
Shortly after the South African Department of Transport announced that the implementation of the Gauteng Freeway e-tolls had been postponed for a month, it found out that, in fact, levying of the tolls has been halted for a much longer time following a decision in the High Court.
Hong Kong Signs DTA With Malaysia
4/27/2012
On April 25, in Kuala Lumpur, Hong Kong’s Financial Secretary, John C Tsang, and the Malaysian Minister of Finance, Ahmad Husni Hanadzlah, signed a comprehensive double taxation agreement between Hong Kong and Malaysia.
Austria's SPÖ Rejects 'Education Tax'
4/25/2012
Austria’s Social Democrats have recently ruled out the idea of introducing a new ‘education tax’ in Austria, insisting that access to higher education must remain free.
Hong Kong Confirms Business Registration Fee Waiver
4/25/2012
The Revenue (Reduction of Business Registration Fees) Order 2012, which waives Hong Kong’s business registration fees for one year, came into effect on April 1, 2012, the territory's Inland Revenue Department has confirmed.
South African Government Joins Road Tolls Case
4/24/2012
South Africa’s National Treasury has applied for leave to intervene in the application currently before the North Gauteng High Court for an interdict against the levying and collection of tolls on the improved Gauteng Freeway system.
Hong Kong To Halve Import, Export Charges
4/20/2012
To boost Hong Kong's external trade by lowering transaction costs and thereby benefiting the import-export sector, the Commerce and Economic Development Bureau has proposed halving import and export declaration charges.
Legatum Chooses DIFC For Global HQ
4/16/2012
Private investment group Legatum has made a substantial investment in acquiring Precinct Building 6 within the Dubai International Financial Centre tax-free zone, which will serve as the firm's global headquarters.
Study Sresses Tax Contribution Of US Auto Industry
4/17/2012
A study from the Center for Automotive Research has highlighted the 'significant' contribution that the auto industry now provides to state and federal tax revenues, as it makes a recovery from the recent economic recession.
World Bank Looks For Chinese Tax Cuts
4/16/2012
In its new China Quarterly Update, the World Bank sees a probable need to facilitate a soft landing for the Chinese economy, with any policy response falling in the first instance on fiscal policy, particularly tax measures supporting consumption.
Singapore Introduces Added Tranche Of GST Compliance Initiative
4/4/2012
The Inland Revenue Authority of Singapore is providing a second SGD5m tranche of co-funding of the fees incurred by businesses registered for goods and services tax and undertaking the Assisted Compliance Assurance Programme.
China To Reduce Tariffs To Boost Imports
4/2/2012
Premier Wen Jiabao chaired a Chinese State Council meeting on the March 28, at which it was decided that, in order to achieve a sustainable balance of foreign trade between exports and imports, and to optimize its mix of imports, China should selectively reduce its import tariffs.
Bermuda Slashes Fees For Special Purpose Insurers
3/30/2012
The Bermuda Monetary Authority has announced its decision to almost halve registration fees for Bermuda Special Purpose Insurers.
Australian Financial Advice Bill Passed
3/29/2012
Australia’s House of Representatives has passed the government’s Future of Financial Advice reforms, designed to deliver a growth strategy for the industry.
Hong Kong's SFC Waives Annual Fees
3/27/2012
Hong Kong’s Securities and Futures Commission has announced that the payment of annual licensing fees will be waived for a two-year period, effective from April 1, 2012.
Turks And Caicos On The Mend After Fiscal Reform
3/23/2012
The Chief Financial Officer of the Turks and Caicos Islands interim government, Hugh McGarel-Groves, has reported significant progress towards correcting the territory's deficit after a raft of measures introduced last year.
Australia Delays Financial Advice Reforms
3/26/2012
The Australian government has announced that its Future of Financial Advice reforms will not become mandatory until July, 2013, stressing that this will benefit the wealth management industry.
Moroccan Lawmakers Examine 2012 Finance Law
3/19/2012
The Moroccan finance ministry has announced that the country’s 2012 finance bill, providing for a number of key fiscal measures, has recently been submitted to the two chambers of parliament for examination in plenary session.
Philippines Will Not Cancel VAT On Oil
3/19/2012
Despite political and transport industry pressure following further increases to the domestic price of oil products, the Philippines government has insisted that the 12% rate of value-added tax on oil products will remain.
Vietnam To Introduce Road Use Fees
3/16/2012
On behalf of the Vietnamese government, Prime Minister Nguyen Tan Dung has issued a decree on the establishment, management and use of a VND6 trillion (USD287.4m) annual road maintenance fund, which will be financed from a new road user charge.
Taxes, Red Tape 'Stifling US Aviation'
3/15/2012
The United States government should ease the tax and regulatory burden on the the nation's aviation industry to improve the sector's competitiveness and boost the economy as a whole, the International Air Transport Association has said.
Philippines Delays Hike In Mining Taxes
3/13/2012
Following concerted opposition from within the sector, the proposed executive order to increase the Philippine government’s revenues from mining contracts, which was to have been issued by President Benigno Aquino last month, has been delayed.
Bermuda Announces 2012 Budget
3/5/2012
Bermuda's Finance Minister Paula Cox has released the territory's budget for 2012, containing a number of tax measures to boost tax revenues and employment.
Philippines Advised To Scrap Airline Taxes
3/2/2012
Following a study by Oxford Economics, the International Air Transportation Association has pointed out the benefits that would accrue to the Philippines economy, if the government was to remove taxes imposed on foreign airlines.
SEC Tightens Rules on Investment Advisers' Performance Fees
2/21/2012
The United States Securities and Exchange Commission has announced a tightening of its rules on investment advisory performance fees, raising the net worth requirement for investors who pay them.
Pokerstars Receives Malta License
2/17/2012
PokerStars has launched Pokerstars.eu under the group’s new license granted by the Malta Lotteries and Gaming Commission, which the company says will provide players with all the benefits of a European Union-issued license.
Thailand Increases Bank Tax
2/16/2012
From July 31, 2012, all banks in Thailand will have to pay an increased levy to help fund the public debt that arose out of financing their rescue during the 1997 Asian financial crisis.
Bahamas Achieves Deficit Reduction
2/13/2012
The Bahamas Central Bank, publishing latest revenue statistics, said the government achieved a 20% reduction in the territory's fiscal deficit during the first five months of the 2011/12 fiscal year.
USPTO Consults On New Fee Structure
2/10/2012
Under the America Invents Act, the United States Patent and Trademark Office, for the first time in its history, was given the authority to work with intellectual property stakeholders to set fees through the regulatory process.
Hong Kong Further Improves SME Financing Guarantee Scheme
2/8/2012
To support small- and medium-sized enterprises during the global economic slowdown, Hong Kong’s Secretary for Commerce & Economic Development, Gregory So, has proposed further concessionary measures under the SME Financing Guarantee Scheme within the first half of this year.
Jersey Mulls Fees Hike On Fund Sector
2/8/2012
Jersey's Financial Services Commission has launched a consultation on proposals to increase the fees paid by Collective Investment Funds and Fund Services Businesses.
Hong Kong To Set Up Insurance Fund
2/2/2012
Hong Kong’s government has announced the consultation conclusions and final proposals on the proposed establishment of an insurance policyholders' protection fund.
Hong Kong Reduces Taxes To Support Growth
2/2/2012
Hong Kong’s Financial Secretary, John C Tsang, has unveiled a 2012/13 Budget which proposes a wide range of tax concessions aimed at supporting businesses and individuals, who face a possible global economic slowdown.
USPTO Proposes New Patent Re-Examination Rules
2/1/2012
The United States Patent and Trademark Office is proposing rules of practice in patent cases to implement the supplemental examination provisions of the Leahy-Smith America Invents Act of 2011.
Taiwan Eases Expat Worker Rules
1/25/2012
A revision to the Employment Services Act passed by Taiwan’s parliament has not only extended the maximum number of years that foreigners may work in Taiwan from nine to twelve years, but also lowered the fine for late payment of their employment stabilization fees.
SEC Announces 2012 Securities Transaction Fees
1/24/2012
The United States Securities and Exchange Commission has issued the revised fee rates applicable to most securities transactions, in accordance with the amendments to the Exchange Act of 1934 made by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
Hong Kong Consults On Waste Disposal Charges
1/16/2012
On January 10, 2012, Hong Kong’s Environmental Protection Department announced the launching of a consultation on whether or not the government should introduce charging for the disposal of municipal solid waste, in an effort to reduce its generation.
Uncertain Tax Positions Rule Gets Thumbs Up
1/13/2012
A 2006 accounting standards interpretation intended to increase relevance and comparability in reporting information about income tax uncertainties generally achieves that purpose, although some stakeholders believe the standard could be improved.
UK Financial Sector Growth Increases
1/11/2012
Growth continues apace in the UK financial services industry but continued wider economic issues are a cause for concern, according to a new survey.
Bermuda Responds To UK's OT Review
1/11/2012
Bermuda has raised a number of issues for discussion with the United Kingdom as part of a consultation raised by the UK government on strengthening its relationship with its Overseas Territories, providing insight into Bermuda's policy trajectory for coming years.
Hong Kong Company Registrations Hit New Record
1/10/2012
The number of local companies newly registered with the Hong Kong Companies Registry in 2011 hit a record high of 148,329, an increase of 6.31% from 2010, as business owners rushed to take advantage of a registration fee waiver scheme which expired in August.
Guernsey To Levy Immigrant Fees
1/4/2012
Fees are to be introduced by Guernsey for citizens from non-EU countries wishing to stay permanently or on a temporary basis from February 2012, in line with fees in place in other territories such as the UK.
IRD Warns On Consequences Of Delaying Hong Kong Tax Payments
12/29/2011
Hong Kong’s Inland Revenue Department has advised taxpayers to pay promptly their tax assessed for the 2010/11 fiscal year, which is generally falling due in the coming January.
Bermuda Publishes Pre-Budget Report
12/19/2011
The Bermuda government is considering a number of tax measures for the 2012 Budget, to continue to consolidate the territory's fiscal finances, and reinvigorate economic growth and encourage job creation, according to a pre-budget report from the island's Finance Minister, Paula Cox.
Austria's Coalition Mulls 'Uni Tax'
12/15/2011
Marking a dramatic about-turn, Austria’s ruling Social Democrats are now open to the idea of a graduate tax to support universities in Austria.
Cayman To Target Reinsurance Business
12/15/2011
Cayman Islands Premier McKeeva Bush has outlined plans to introduce a streamlined work permit regime to encourage reinsurance business to the islands.
Bermuda Amends Insurance Regime
12/13/2011
Bermuda's House of Assembly has passed amendments to the island's legislative regime for the insurance industry, and set fee levels for 2012.
Bermuda Lays Down Welcome Mat For Investors
12/12/2011
Bermuda's Premier, Paula Cox, has outlined details of the government's Incentive for Job Makers Act 2011, which will ease work permit and residency restrictions for senior management and wealthy investors, a move which is expected to boost Bermuda's appeal as an international financial centre.
Hong Kong Looks At Narrow Tax Base
11/29/2011
In his written response to a question in the Legislative Council, the Secretary for Financial Services and the Treasury, Professor K C Chan, confirmed that the government is building reserves to cater for the longer term needs that could arise from Hong Kong’s ageing population, taking into account the SAR's narrow tax base.
TCI Interim Government Announces Fresh Tax Hikes
11/25/2011
The Turks and Caicos Islands interim government has announced new tax hikes aimed at reducing the budget deficit, which has increased on the back of the territory's political and economic problems.
EU Makes Antitrust Commitments From S&P Binding
11/22/2011
The European Commission has made legally binding the commitments offered by Standard and Poor's to counteract antitrust concerns that the latter was overcharging for the use of International Securities Identification Numbers by information service providers and banks in Europe.
NetJets Sues IRS Over Ticket Tax Assessments
11/22/2011
Four subsidiaries in the NetJets group - NetJets Large Aircraft, NetJets International, NetJets Aviation and Executive Jet Management – have introduced an action in the Ohio Southern District Court, Columbus Office, to retrieve almost USD643m in back taxes from the Internal Revenue Service.
Gibraltar's Tax Sovereignty 'Unaffected' By EU Ruling
11/21/2011
A recent ruling from the European Court of Justice has been welcomed by the Gibraltar government as confirming the territory's right to have a tax regime different from that of the United Kingdom's.
UK Drops In Tax Competitiveness Index
11/17/2011
While the UK has a competitive tax system it risks being overtaken by other economies easing tax burdens for businesses, according to a new report from PwC.
Jersey's 2012 Budget Approved
11/11/2011

Jersey's legislature, the States Assembly, has approved the 2012 Budget, which contains a number of measures to boost the island's economy as well as providing tax relief to lower-wage earners.

Asian Airlines Lash Out At Western Tax Policy
11/8/2011
The Association of Asia Pacific Airlines has spoken out against the 'ineffective regulation and excessive taxes and charges' of Europe and the United States, which it said are unnecessarily constraining the growth of the industry globally.
US House Passes Five-Year Ban On New Wireless Taxes
11/7/2011
The United States House of Representatives has passed the Wireless Tax Fairness Act of 2011, which looks to put a five-year restriction on any state or local jurisdiction from imposing a new discriminatory tax on mobile phone services or their providers.
Labuan Gives Tax Incentives For Oil And Gas Trading
11/2/2011
At the launch of the Global Incentives for Trading programme and the newly-formed Labuan International Trading Commodity Company, the Director-General of Labuan Financial Services Authority Encik Ahmad Hizzad Baharuddin announced that a range of incentives have been initiated to attract oil and gas traders to Malaysia.
Foreign Airlines Push For Philippines Tax Exemptions
10/26/2011
The Philippines’ Department of Finance is being put under pressure from foreign airlines to reduce the 2.5% Gross Philippine Billings Tax and the 3% Common Carrier’s Tax to which they are subjected.
IRS Praised For Health Law Implementation
10/26/2011
The United States Internal Revenue Service has successfully developed a plan to implement the new tax provisions included in the Affordable Care Act, according to a report released by the Treasury Inspector General for Tax Administration.
South Africa Cautions Online Gambling Remains Illegal
10/26/2011
While a decision is awaited on the recommendations of the Gambling Review Commission, the Minister of Trade and Industry Rob Davies has warned that online gambling remains illegal in South Africa.
IRS Begins PTIN Renewals For 2012 Filing Season
10/25/2011
The Internal Revenue Service has announced that the 738,000 tax return preparers in the United States who have Preparer Tax Identification Numbers can now renew them for the 2012 filing season.
Hong Kong Gazettes Aviation Fee Revisions
10/20/2011
An order to support and enable proposed revisions to Hong Kong’s aviation fees and charges is to be gazetted on October 21 and tabled in the Legislative Council on October 26.
IMF Demands Robust Fiscal Policy Response From Cyprus
10/17/2011
The significant deterioration in Cyprus's public finances requires a 'strong and immediate policy response' to restore confidence in the territory's international finance centre, according to a report from the International Monetary Fund.
Mauritian Exporters Seek Tax Incentives
10/14/2011
Hot on the heels of the Mauritius Employers’ Federation, the Mauritius Export Association has now also submitted its pre-budget memorandum to Mauritian Finance Minister Xavier-Luc Duval, in which it underlines the need to introduce fiscal incentives for investment and training in the sector to improve productivity.
China To Provide Further Support To Small Business
10/14/2011
Following a meeting of China’s State Council, chaired by Premier Wen Jiabao, financial and fiscal measures were identified to try and provide additional support to small and micro businesses.
Mauritian Business Submits Budget Wish List
10/14/2011
Ahead of the forthcoming 2012 budget presentation, the Mauritius Employers’ Federation has submitted a number of fiscal proposals to Mauritian Finance Minister Xavier-Luc Duval, aimed at addressing a number of domestic constraints on businesses in Mauritius.
EU Adopts Consumer Rights Directive
10/12/2011
The European Council has adopted the Consumer Rights Directive, that will establish new rules on consumer rights to protect online shoppers, and boost consumer confidence in buying cross-border in other European Union member states.
Economy-Boosting Bill Introduced In Canada
10/7/2011
As part of the ongoing Budget implementation process, the Canadian Finance Minister has introduced legislation designed to generate job creation and stimulate economic growth, with measures including a series of key new tax credits.
Bahamas Reports Diminishing Deficit
10/6/2011
Bahamas has begun its new financial year with a positive first month, despite the weakness of the United States economy and the domestic disruptions caused by Hurricane Irene. Tax receipts have continued to rebound strongly, and the government was able to narrow the budget deficit last month.
Hong Kong Extends Airport Charge Incentive
10/5/2011
The renewed scheme of airport charges for new routes, proposed by the Airport Authority Hong Kong (AA) and gazetted on October 7, will come into force on January 1 next year.
Singapore Extends Green Vehicle Rebates
10/4/2011
Singapore’s Ministry of Finance has announced that the green vehicle rebate scheme for new compressed natural gas and bi-fuel vehicles will be extended for another year to December 31, 2012.
IRS Instalment Agreements Processing Criticised
9/30/2011
The procedures of the United States Internal Revenue Service for processing streamlined instalment agreements have allowed for the inconsistent processing and treatment of taxpayers, according to a report released by the Treasury Inspector General for Tax Administration.
Jersey's 2012 Budget Published
9/27/2011
Jersey's 2012 Budget, published on September 23, contains numerous measures to boost tax revenues and support lower-income workers as part of the government's efforts to tackle the territory's deficit.
Aviation Industry Opposes US Security Tax Hikes
9/23/2011
On behalf of the international aviation community, the International Air Transport Association has expressed its opposition to proposals from the US government to double the 9/11 passenger security fee and then to raise it in successive years through 2017 as part of the nation’s deficit reduction plan.
New Levies Introduced In Turks And Caicos
9/23/2011
The Turks and Caicos government has confirmed that two new interim levies on financial services became effective as of September 12, 2011, ahead of the introduction of a value-added tax.
Preliminary Results From US 2011 Offshore Disclosure Initiative
9/19/2011
The United States Internal Revenue Service has disclosed that the recently-completed offshore voluntary offshore initiative has pushed the total number of voluntary disclosures up to 30,000 since 2009.
Malaysia Delays Increased Passenger Tax
9/15/2011
Malaysia Airports has been advised by the Ministry of Transport that increases to the international passenger service charge and aircraft landing and parking charges, which the government had previously approved, have been put on hold, pending further review.
New Zealand To Simplify Tax Filing Requirements
9/15/2011
New Zealand Revenue Minister Peter Dunne says a new tax bill tabled on September 14 will simplify tax filing requirements for individuals and support businesses in handling their tax obligations electronically.
Congress Halts US Tax Strategy Patents
9/14/2011
The United States Senate has passed the America Invents Act, which was previously approved by the House of Representatives in June this year, and which will make the first significant changes to the US patent system in 60 years; it also contains a provision that would curtail patents on tax strategies.
Bermuda Reminds Insurers Of Reclassification Requirement
9/5/2011
Following guidance released previously, the Bermuda Monetary Authority has reminded those companies operating as Long-Term Insurers to comply with the requirements of the Insurance Amendment (No. 3) Act of 2010 by submitting paperwork to be reclassified.
India Signs Tax Agreement With Georgia
9/2/2011
The Indian government has signed an agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital with the government of Georgia.
SVG Looks To Maintain Competitiveness
9/1/2011
Following economic contraction in 2010, the government of Saint Vincent and the Grenadines plans to implement reforms to enhance the territory's attractiveness to international investors to combat its deficit, adding to tax reforms announced earlier in the year.
Texas Supreme Court Supports Strip Club Tax
8/31/2011
The Supreme Court of Texas has ruled that the fee levied on strip club customers by the state’s Sexually Oriented Business Fee Act of 2007 does not violate the United States Constitution.
Algeria Finance Law Supports Entrepreneurs
8/19/2011
Algeria’s 2011 supplementary finance law, containing a raft of tax measures designed to support employment and to boost the creation of small businesses, has now been published in the country’s official journal.
Canada Presses Forward With Budget Implementation
8/18/2011
The Canadian government has released its proposals for the introduction of a raft of new tax credits, many of which formed part of the Conservative party's election manifesto and the subsequent Budget introduced in June.
Guernsey Consults On Fees
8/10/2011
The Guernsey Financial Services Commission has released a consultation paper on fees for financial services companies for 2012.
Jersey To Review ISE Regime
8/11/2011
In a public consultation released on August 5, the Jersey government has sought the views of businesses on the International Services Entities regime.
India, Lithuania Sign DTA
7/28/2011
The Indian government has announced the signing of an agreement and protocol for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital, with Lithuania.
Brokers 'Breakaway' In Record Numbers
7/26/2011
TD Ameritrade Institutional attracted a record 260 'breakaway' brokers in the first three quarters of fiscal 2011 as more brokers choose to become independent registered investment advisors ahead of a wave of regulatory changes likely to impact the brokerage industry in the US.
EC Probes Aviation Taxes, Subsidies
7/19/2011
The European Commission has opened three separate in-depth state aid investigations regarding the Marseille and Frankfurt Hahn airports as well as lower taxes for air passengers in Ireland that benefit almost exclusively domestic flights.
IoM Reviews Financial Services Legislation
7/7/2011
The Isle of Man Financial Services Commission has announced several new proposed amendments to the legislation governing certain regulatory requirements placed on licenceholders.
Caymans To Introduce Hedge Fund Levy
6/14/2011
The Cayman Islands is to regulate and tax certain types of hedge funds for the first time, under a new measure brought in by the Budget.
Flaherty Resubmits Canadian Budget
6/8/2011
Canada's Minister of Finance, Jim Flaherty has reintroduced Budget 2011, which failed to be adopted prior to the dissolution of parliament on March 26, 2011.

 

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