Stories that are tagged 'real-estate'

	Italy Explains New Local Property Tax 5/24/2012 The Italian Treasury has issued a circular which attempts to explain the complex regulations surrounding the introduction of IMU, the new unified local property tax, which formed the major revenue-raising measure within the government’s ‘Save Italy’ budget finalized in December last year.
	Italian Property Tax Slammed As 'Odious And Inequitable' 5/17/2012 Niccoló Rinaldi, head of the Italian opposition party, Italia dei Valori, in the European Parliament, has described the new Italian tax on the value of overseas properties and financial assets as only the latest in a long line of attacks on the finances of Italian expatriates.
	South Korea To Cut Property CGT 5/14/2012 The South Korean government has disclosed that it will try to boost the local housing market by relaxing restrictions on property transactions and cutting property transfer tax rates.
	IMF Identifies Risks In Swiss Banking Sector 5/11/2012 The International Monetary Fund has said in its latest Article IV consultation with Switzerland that, while the fiscal position is healthy, there remain a number of risks to the country's financial services sector, amid the possibility of a real estate bubble.
	Hong Kong Vows To Maintain Stable Property Market 5/8/2012 In a speech to the Oxford and Cambridge Society of Hong Kong, the Financial Secretary John C Tsang said that the government's initiatives to maintain a stable property market have been fairly effective, but that it would have “no hesitation in applying further measures,” if necessary.
	Russia Hikes Gas Tax, Rethinks Luxury Tax 5/4/2012 The Russian government has confirmed proposals to hike the tax paid by natural gas extractors, hitting both the majority state-owned Gazprom as well as private ventures.
	Dutch Lawmakers Unite On Austerity Budget 5/1/2012 Despite the recent collapse of Mark Rutte's minority coalition government and ensuing panic on the already anxious markets, the Dutch parliament has finally adopted the country’s budget package, designed to reduce the budget deficit to 3% of gross domestic product in 2013, and providing for savings of around EUR12bn (USD15.9bn) next year.
	Italy Has No Plans For Wealth Tax 4/25/2012 In his testimony to the Italian Chamber of Deputies’ economic and finance committee, the Deputy Economy Minister Vittorio Grilli confirmed that the government has no plans to introduce a wealth tax, or any other new taxation, in a further budget.
	Maltese Developers Cry Foul On Property Tax Valuations 4/19/2012 The Malta Developers Association has called on the government to rethink the valuation of island property for the purposes of levying the 12% withholding tax on property sales, to take into account the falling price of real estate.
	Ireland Urged To Ease Property Tax For Low-Paid 4/19/2012 The Irish government's planned property tax could be fairer than the current interim household charge, the Economic and Social Research Institute has said, warning that the current system hits lowest earners hardest.
	China's Overseas Investment Soars, As Incoming FDI Falls 4/18/2012 The Ministry of Commerce has disclosed that, at the same time as China's overseas direct investment was rapidly increasing in the first quarter of this year, foreign direct investment into China fell for the fifth month in a row in March.
	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 Property Prices Show Fall After Tax Hike 4/6/2012 Following the government’s announcement in December last year of an Additional Buyer’s Stamp Duty, the Urban Development Authority has disclosed that Singapore’s estimated private residential property price index fell in the first quarter of 2012.
	Ireland Faces Household Charge Backlash 4/3/2012 Action against Ireland's household tax continues apace, with only 61% of liable households expected to pay the tax and over 5,000 people marching through the streets of the capital in protest.
	Jersey Assesses UK Stamp Duty Measures 3/29/2012 Jersey Finance, the agency responsible for the promoting the island's finance industry, has responded to measures in the UK budget which seek to prevent stamp duty tax avoidance on the purchase of high-value property in the UK via offshore company structures.
	China To Extend Property Tax Later This Year 3/27/2012 The National Development and Reform Commission has confirmed that the pilot property tax presently operating in Shanghai and Chongqing will be extended to other cities in China later this year.
	Taiwan Could Repeal Luxury Tax In Reform Package 3/26/2012 In a parliamentary reply, Taiwan’s Finance Minister Christina Liu confirmed that, while luxury taxes will be eliminated at some point, it will only happen after permanent property taxes have been introduced within future tax reforms.
	Belgium Told To Revise Taxation Of Property Income 3/26/2012 The European Commission has officially asked Belgium to revise its taxation of property income from sources outside Belgium.
	UK Budget Delivers Tax Cuts 3/23/2012 George Osborne has delivered a Budget that ‘unashamedly backs business’, slashing the top rate of personal income tax and accelerating corporate tax cuts.
	Sarkozy Pledges To Halve Property Transfer Tax 3/21/2012 French President Nicolas Sarkozy has recently announced plans to significantly reduce the transfer tax imposed on individuals when moving house.
	US Taxpayer Makes USD25bn Profit From MBS Investments 3/21/2012 The United States Treasury has announced the completion of the orderly wind down of its agency-guaranteed mortgage-backed securities portfolio, which it acquired as part of its response to the financial crisis, at an overall profit for taxpayers of USD25bn.
	Hong Kong's Insurance Business Continues Growth 3/19/2012 Total gross premiums of Hong Kong’s insurance industry grew by 9% last year to HKD225.8bn, the Office of the Commissioner of Insurance has announced.
	Tax Ruling Boosts UK Holiday Let Owners 3/9/2012 HM Revenue and Customs has lost another key court case, with the passage of a tribunal decision that will permit holiday let owners across the UK to claim Business Property Relief for inheritance tax purposes.
	IRS Homebuyer Credit Oversight Criticised Again 3/5/2012 According to a report by the Treasury Inspector General for Tax Administration, the United States Internal Revenue Service has disallowed nearly USD1.6bn in erroneous First-Time Homebuyer Credits, but could have identified even more.
	Philippines Issues New VAT Rules 3/1/2012 The Philippines Bureau of Internal Revenue has recently issued revenue regulations which affect the payment of value-added tax on the import of oil products and the sale or leasing of property.
	Hong Kong Lauds Effectiveness Of Special Stamp Duty 3/2/2012 Hong Kong’s Secretary for Transport and Housing, Eva Cheng, has said that the special stamp duty, which was introduced in November 2010, has been effective in curbing short-term property speculative activities.
	Canada, BC, Release Sales Tax Transition Rules 2/21/2012 British Columbia will cease to operate a Harmonised Sales Tax system on April 1, 2013 after transitional proposals were released and relief measures outlined.
	China's Tax Revenues Rise 22.6% in 2011 2/16/2012 Recently-released final figures from China’s Ministry of Finance show that, in 2011, its tax revenue reached a total of RMB8.97 trillion, an increase of more than RMB1.65 trillion or 22.6% over the previous year.
	Taiwan Looks At A Windfall Tax 2/6/2012 Christina Liu, who will be Taiwan’s Minister of Finance in the cabinet reshuffle after the last month’s elections, has disclosed that she intends to appoint a committee to look at the government’s tax reform options, including a possible windfall tax.
	Ireland Creates Expert Panel For Property Tax Plans 2/3/2012 The Irish government is pushing forward with its plans for a property tax, appointing an expert panel to consider proposals.
	French Wealth Tax Yields Surprising Revenues 1/26/2012 France’s solidarity tax on wealth, which was radically reformed by the government in June last year, has served to yield much greater fiscal revenues for the state than initially predicted.
	Barbados Modernizes Land Tax Administration 1/26/2012 Barbados has announced that it will soon roll out its online portal for taxpayers to view and pay their land tax bills online, although the system is not yet available for foreign property owners.
	Ireland Launches Immigrant Investor Programme 1/26/2012 The Irish government is to introduce two major new immigration initiatives aimed at encouraging non-European migrant entrepreneurs and investors.
	Cable Keeps UK Mansion Tax On The Agenda 1/24/2012 A mansion tax is a 'very good idea', the UK Business Secretary Vince Cable has said, calling for the levy to be introduced in the upcoming Budget.
	Austrian Chancellor Stands Firm On Wealth Tax 1/11/2012 Following the first ministerial council meeting of 2012, Austria’s Chancellor and leader of the Social Democrats Werner Faymann underlined the importance of a stable eurozone and of generating new revenues in Austria as part of the government’s planned national consolidation package.
	Guernsey Structure Employed In UK Mortgage Scheme 1/12/2012 Guernsey’s Protected Cell Company legislation will be used to create an insurance company which will underpin a new scheme being introduced in the United Kingdom to allow lenders to offer larger mortgages to home buyers.
	Hong Kong Property Deals Down Sharply 1/12/2012 The Land Registry of Hong Kong has announced that it recorded 108,814 sale and purchase agreements for all building units for 2011, down 33.1% year on year and down 18.8% when compared with 2009.
	BC Amends Homeowner Grant Scheme 1/4/2012 In an effort to accommodate rising property values, the Canadian province of British Columbia has increased the threshold for the homeowners' grant, a scheme which helps the province's residents with property taxes.
	US Still Top Destination For Real Estate Investment 1/5/2012 According to the 2012 annual survey of the members of the Association of Foreign Investors in Real Estate, the United States remains the country offering the best option for real estate investments, but the repeal of the Foreign Investment in Real Property Tax Act would have a strongly positive impact on their investment decisions.
	Singapore To Pay Last GST-Offset Subsidy 1/2/2012 Singapore’s Ministry of Finance has announced that about 800,000 Housing and Development Board (HDB) households can expect to receive SGD40m in Utilities-Save goods and services tax rebates in January 2012.
	Saint Kitts Set To Launch Super Yacht Marina 12/28/2011 Caribbean territory Saint Kitts and Nevis has announced that new construction projects, to build a mega-yacht marina, and a world-class private jet terminal, will be concluded during 2012 alongside other projects to market the islands to high-net-worth visitors and holidaymakers.
	Ireland To Bring Forward Property Tax 12/22/2011 Facing a possible boycott of the new Household Charge, the Irish government looks set to replace it sooner than anticipated with a full property tax, a year earlier than originally planned.
	Australia Proceeds With Fund Manager Tax Reforms 12/21/2011 The Australian government has announced plans to implement the third and final element of an investment management regime, which, according to Minister for Financial Services Bill Shorten, will provide certainty of tax treatment for the funds management sector.
	Irish Lawmakers To Boycott Household Tax 12/19/2011 Nine rebel members of the Irish parliament have said that they will not pay the controversial household tax when it is introduced in January.
	Taiwan Takes First Step To Property Tax Changes 12/15/2011 Taiwan’s Legislative Yuan has passed amendments to the law governing the registration of real estate sale prices, which might represent the first step in changing the basis of calculation of property taxes.
	Monti Agrees Changes To Italian Budget Measures 12/16/2011 While Prime Minister Mario Monti had previously stressed that there was little room for changes to Italy’s latest budget, the final version of the bill currently going through parliament does include modifications agreed by the government, which are said to make it more 'equitable'.
	Tokyo Tops Cost League For Expat Workers 12/15/2011 Tokyo remains the most expensive city in the world for international assignees as the rising value of the yen continues to put upward pressure on the cost of living in the country, according to a new report.
	Isle Of Man Ditches Rent-A-Room Tax Relief Proposals 12/12/2011 The Isle of Man Treasury has announced that it will not pursue tax relief proposed for room rentals following responses received in response to a consultation launched in September 2011.
	Hong Kong's Inward FDI Soars 12/13/2011 Recently released figures show that, at the end of last year, the stock of Hong Kong's inward foreign direct investment increased by 16.7% from a year earlier, to almost HKD8.5 trillion (USD1.09 trillion) at market value.
	Singapore Hikes Property Taxes 12/12/2011 Singapore’s government has announced an Additional Buyer’s Stamp Duty to be imposed on certain categories of residential property purchases, in addition to the current buyer’s stamp duty.
	South Korea To Ease Capital Gains Tax On Property 12/8/2011 With the South Korean property market having seen only a sluggish recovery this year, the government has decided to remove permanently the threat of an additional capital gains tax on owners of more than one property.
	Singapore Provides Property Tax Rebates 12/5/2011 As the Inland Revenue Authority of Singapore is to raise the annual valuations of all Housing and Development Board flats with effect from January 1, 2012, the government has decided to grant their owner-occupiers a one-off property tax rebate.
	Guernsey 2012 Budget Contains Minor Tax Hikes 11/23/2011 Guernsey's Treasury and Resources Department has published its 2012 Budget Report, proposing tax hikes on alcohol, tobacco, fuel and property.
	Monti Puts Forward Italian Tax Policy Framework 11/22/2011 Mario Monti, the new Italian Prime Minister and Economy Minister, has won confidence votes in both houses of parliament for his government’s future reform programme which, it is hoped, will strike the right tone for the financial markets, but is short of much detail.
	France To Curb 'Excessive' Rents 11/17/2011 The French National Assembly has recently adopted government plans to create a dissuasive tax on 'abusive' rent in France, within the framework of the country’s 2012 finance bill.
	Malta Cuts Tax Burden In 2012 Budget 11/17/2011 Malta's Minister of Finance, Economy and Investment Tonio Fenech has announced numerous tax measures in the territory's budget for 2012, many of which reduce the tax burden on islanders and enhance the island's appeal to international investors.
	Mauritius Unveils 2012 Budget 11/9/2011 Mauritian Finance Minister Xavier-Luc Duval has recently unveiled details of the government’s 2012 finance bill, designed to promote export and market development, and to open up the country’s economy, and providing for tax measures intended to boost growth and investment and to promote social justice.
	Philippines Increases Thresholds For VAT Exemptions 11/7/2011 The Philippines’ Bureau of Internal Revenue has released revenue regulations which increase, in line with the rise in the consumer price index, the threshold amounts for value added tax on sales and leases of residential lots and houses.
	UK Targets Foreign Property Owners 11/3/2011 The UK government is focussing on wealthy individuals with overseas property in its ongoing crackdown on tax avoidance.
	Jersey To Boost First-Time Homebuyer Tax Relief 11/3/2011 Jersey's Treasury Minister, Phillip Ozouf has proposed that relief on Stamp Duty and Land Transactions Tax afforded to first-time homebuyers should be increased in line with current house prices.
	FASB Consults On Investment Property Reporting Rules 10/26/2011 The US accounting standards setter, the Financial Accounting Standards Board has issued a proposed Accounting Standard Update intended to develop accounting guidance for investment property entities.
	UK To Scrap REIT Levy 10/21/2011 Following an informal consultation on proposed changes to the UK's Real Estate Investment Trust regime, the government has agreed that the a levy payable by companies which convert into REITS should be scrapped.
	IRS Has Problems With First-Time Homebuyer Credit Repayments 10/18/2011 The United States Internal Revenue Service is having difficulty determining which taxpayers have to repay the First-Time Homebuyer Credit, according to a report by the Treasury Inspector General for Tax Administration.
	Australia Offers Flood Victims CGT Relief 10/11/2011 Owners of investment properties involved in the Australian Lockyer Valley Regional Council's land swap program will be eligible for capital gains tax relief as part of the federal government's ongoing work to assist people affected by the floods last summer.
	Guernsey, Luxembourg Explore Fund Sector Synergies 10/12/2011 A team from Guernsey’s fund industry hosted an event in Luxembourg last month aimed at boosting cooperation between the two jurisdictions, discussing ways in which service providers in the two centres can work together more effectively for mutual benefit.
	Tax Incentives Feature In Malaysia's 2012 Budget 10/11/2011 In what is considered to be the last before he calls for elections, the Malaysian Prime Minister and Minister of Finance, Datuk Seri Najib Tun Abdul Razak, recently introduced a 2012 Budget that was full of tax breaks and incentives.
	Taiwan To Calculate Property Taxes On Market Value 10/6/2011 In a recent speech, Taiwan’s President Ma Ying-jeou confirmed that the government will, over time, change the basis of calculation of property taxes to actual market values.
	Property Tax Extended In China 9/30/2011 From October 1, in addition to those purchasing properties, existing owners of luxury residential properties in Chongqing will also be required to pay the property tax applicable to their value.
	Greek Lawmakers Pass Unpopular Property Tax 9/29/2011 Overcoming a significant hurdle, the Greek parliament has narrowly adopted by 154 votes to 142 the government’s highly controversial and hugely unpopular new property tax.
	Australia To Change GST Treatment of New Homes 9/27/2011 Previously announced changes to the application of goods and services tax to newly constructed residential premises will not apply prior to January 27, 2011, Australian Assistant Treasurer Bill Shorten has clarified.
	German Energy-Saving Tax Breaks In The Balance 9/26/2011 The Green party (die Grünen) recently failed in its application in the German Bundestag, or lower house of parliament, for a mediation committee to be convened to resolve the ongoing tax dispute between the federal government and the federal states regarding fiscal incentives to promote energy efficiency in the home.
	France's 2011 Budget Published In Official Journal 9/23/2011 The French government’s second 2011 finance bill, designed to reduce the public deficit, has recently been published in the country’s official journal.
	Bermuda To Target Aerospace Companies 9/20/2011 In meetings with members of the financial community with investments in the space sector, Bermuda's Minister of Environment, Planning and Infrastructure Strategy, Walter Roban, announced that the government is seeking to reform the investment climate for the sector, to establish Bermuda as an attractive, tax-efficient territory in which to base operations.
	French Local Tax Rises Decelerate 9/19/2011 A recent publication, drafted by the forum responsible for the management of towns and local authorities in France, indicates that although local tax rises in large cities in France are continuing, the pace of the increase has undoubtedly slowed down.
	IOM Consults On Room Rental Tax Incentives 9/16/2011 The Isle of Man government is proposing to introduce tax advantages for taxpayers who rent out a room within their home, similar to schemes already in place in the United Kingdom and Ireland.
	Greece Unveils Property Tax 9/13/2011 Determined to appease international moneylenders, and to secure release of an EUR8bn tranche of its EUR110bn bailout agreement, the Greek government recently announced plans to introduce a new property tax in Greece, for immediate application.
	First Incorporated Limited Partnership Formed In Jersey 9/9/2011 Ogier Jersey has acted as advisor in relation to the establishment of the first incorporated limited partnership in Jersey, Invescap (Villette) ILP, which invests in UK commercial real estate.
	US Recovers Three-Quarters Of MBS Investment 9/6/2011 The United States Treasury has provided an update on the continued orderly wind down of its agency-guaranteed mortgage-backed securities portfolio acquired during the recent financial crisis, which shows that it has now recovered more than 76% of its original capital investment.
	US Sues Banks Over MBS Quality Misrepresentation 9/6/2011 The United States Federal Housing Finance Agency, as conservator for Fannie Mae and Freddie Mac, has filed lawsuits against 17 financial institutions, alleging violations of federal securities laws in the sale of residential mortgage-backed securities, and seeking compensatory damages for negligent misrepresentation.
	Renewed Calls For New Zealand Earthquake Tax 9/1/2011 The New Zealand government must consider new taxes to help address the skyrocketing costs of the Canterbury earthquakes, say opposition party leaders.
	Singapore Increases Land Development Tax 9/2/2011 Following the usual half-yearly official review, and to reflect higher property values, Singapore’s Ministry of National Development has revised the land development charge rates for the period from September 1, 2011 to February 29, 2012.
	UK Lib Dems To Debate Land Tax Proposals 8/30/2011 The rift over tax policy in the UK's coalition government looks set to be highlighted at the Liberal Democrat's upcoming party conference, where members will debate proposals to make a new system of land taxation into party policy.
	Spain Considering Taxing Wealth 8/30/2011 Spain's Minister for Finance, Elena Salgado has announced that the government is considering reinstating an inheritance tax on high income earners, rescinded at the beginning of the economic downturn, in a move to regain the EUR2bn it generated annually.
	Spain Cuts VAT On New Houses 8/24/2011 In an effort to revive the country's stagnant housing market and support the construction industry, the Spanish government has announced that it will reduce the rate at which sales tax is applied to the sale of new housing.
	Conservative Minister Dismisses UK Mansion Tax 8/23/2011 The tone of the UK’s ongoing row over income tax rates has changed from one concerned with the country’s competitiveness to one focused on the merits of taxing the ‘middle-class’ fairly.
	Barbados Budget Unveiled 8/23/2011 'Uncertain economic times' have led the Barbadian Finance Minister to introduce a Budget full of new tax measures, as part of a plan to drive down the deficit and stimulate economic growth.
	Guernsey Housing In High Demand 8/17/2011 Average property prices in Guernsey rose by 7.7% in the second quarter of 2011, compared to the same quarter in 2010, according to data released this week by the States of Guernsey.
	Cyprus Plans Property Tax Hike 8/17/2011 Cyprus plans to increase the taxation of immovable property as part of an austerity package which hikes value-added tax, personal income tax and withholding tax on savings interest.
	Debate On UK's Top Tax Rate Rumbles On 8/16/2011 The UK's top rate of personal income tax will not be a permanent fixture, according to the Chancellor, who has said that the country needs its taxes to be competitive.
	Australia To Remove Disability Trust Barriers 8/2/2011 Australian citizens with severe disability and their carers are being asked to comment on draft legislation that will remove income tax barriers to make it easier for people to contribute to a Special Disability Trust.
	Philippines Issues REIT Revenue Regulations 8/1/2011 The Bureau of Internal Revenue has issued its much-delayed revenue regulation governing the tax incentives to be granted to real estate investment trusts in the Philippines.
	German States Hike Land Transfer Taxes 7/29/2011 During a second reading, North Rhine-Westphalia’s state parliament accepted and adopted a bill providing for an increase in the rate of land transfer tax imposed on purchases in the German state from October 1, 2011. The move follows similar tax increases in several other German states.
	Hong Kong Issues Special Stamp Duty Guidance 7/27/2011 For the information of duty payers and their tax representatives, Hong Kong’s Inland Revenue Department has issued interpretation and practice notes concerning the special stamp duty, that was introduced by the government in November last year.
	Canada Amends 'Tax Fairness' Law 7/22/2011 The Canadian government is to amend its income tax legislation to bring in changes to the tax treatment of specified investment flow-through entities, real estate investment trusts and publicly-traded corporations. The changes were announced on July 20.
	Hong Kong Continues To Grow Its Fund Management Business 7/22/2011 The Securities and Futures Commission, in its annual survey of fund management activities, confirmed that such business in Hong Kong reached over HKD10 trillion last year, up 18.6% compared to 2009.
	Luxembourg Redefines Home Energy Tax Credits 7/20/2011 During a recent meeting chaired by Prime Minister Jean-Claude Juncker, Luxembourg’s governing Council approved the bill providing for different fiscal measures designed to encourage energy efficiency improvements in properties.
	New Zealand Labour Party Reveals Tax Plans 7/18/2011 New Zealand opposition leader Phil Goff has revealed the Labour Party's plans for the country’s economy, including introducing a capital gains tax and an increase in the top tax rate. The plans were unsurprisingly met with scorn by the government.
	US Government's MBS Investment Below USD100m 7/12/2011 The United States Treasury has provided an update on the continued orderly wind down of its agency-guaranteed mortgage-backed securities portfolio acquired during the recent financial crisis, in which it shows that the remaining amount of principal outstanding is now under USD100bn.
	Philippines REIT Tax Regulations Approved 7/12/2011 It is expected that the much-delayed publication by the Bureau of Internal Revenue of the proposed tax incentives for real estate investment trusts in the Philippines will be published shortly.
	Dutch Banks Outraged Over Tax Plans 7/11/2011 Outraged by the blatant volte-face of the government, the Dutch Banking Association NVB has fiercely criticized plans to introduce a new tax on Dutch banks from next year, warning that such a move would merely serve to reduce scope for credit and mortgage offers, thereby damaging the country’s economy.

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Stories that are tagged 'real-estate'

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