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India's Finance Minister, Arun Jaitley, says that India is likely to have its Goods and Services Tax regime in place by July, after approval from the GST Council of federal-level legislation. Read Full Story
The Indian Government needs more time to reach a consensus on remaining goods and services tax issues and put in place the necessary frameworks for the regime to succeed, Arun Jaitley, the Finance Minister, has said, pushing forward implementation to July.Read Full Story
In an effort to "guide reasonable consumption and promote energy conservation," China's State Council has approved a consumption tax on the retail value of ultra-luxury imported cars, such as Ferrari and Rolls-Royce cars. Read Full Story
To boost domestic sales and economic growth, China's State Council has approved the elimination or reduction of consumption tax on cosmetic products. Read Full Story
With the Constitutional Amendment Bill to introduce goods and services tax now ratified, the Indian Government has announced the formation of the GST Council, which will meet for the first time on September 22. Read Full Story
Taiwan's luxury tax on the sale of properties, which is to be replaced by a new property capital gains tax from January 1, 2016, has failed to yield the expected revenue since it was imposed in June 2011. Read Full Story
India should aim for a 20 percent corporate tax rate, strengthen dispute resolution mechanisms, and issue more guidance on the proposed goods and services tax, the Confederation of Indian Industry has said. Read Full Story
Taiwan's National Taxation Bureau has confirmed that the present luxury tax on the sale of properties will be cancelled on the same date as a new property capital gains tax comes into operation. Read Full Story
The Government of Vietnam has announced a new tax policy designed to encourage more sales of vehicles with small engines, while increasing the cost of gas-guzzling larger cars. Read Full Story
Greek lawmakers and European Union finance ministers have signed off on a third bailout deal, including a diverse range of tax increases and commitments to curtail spending. Read Full Story
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