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In a move thought to be intended to boost state-owned oil company Aramco ahead of an Initial Public Offering, Saudi Arabia announced tax cuts for oil and hydrocarbon producers on March 27. Read Full Story
The Australian Petroleum Production & Exploration Association has said it does not believe there is a case for reforming the Petroleum Rent Resource Tax. Read Full Story
As promised in the recent elections, and despite the country's significantly increased fiscal deficit in 2016, Ghana's new Government has decided to balance its election promise of beginning a program of tax cuts to boost private sector growth, with an attack on tax non-compliance. Read Full Story
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
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
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
The Italian Minister of the Economy and Finance, Pier Carlo Padoan, sent a letter to the European Commission on February 1, confirming that Italy will introduce additional budgetary measures to reduce its forecasted fiscal deficit for this year. Read Full Story
The UK's largest companies paid a total of GBP82.3bn (USD103.2bn) in tax this year, compared with GBP80.5bn in 2015, despite a cut to the corporate tax rate, according to a report from PwC. Read Full Story
Seychelles will finalize significant reforms to its main taxes in 2017, according to the territory's newly released Budget. Read Full Story
Australia's collection of North West Shelf royalty revenue from oil and gas activities has not been sufficiently efficient or effective, according to a new report by the National Audit Office. Read Full Story
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