Stories that are tagged 'sales tax'

	GST Will Make India More Competitive, FinMin Says 5/27/2012 The introduction of an Indian goods and services tax will remove the hidden costs causing a lack of competitiveness, Finance Minister Pranab Mukherjee has said, arguing that the new tax will provide a more stable source of revenue, helping create a common market across India.
	Brazil Provides New Fiscal Stimulus 5/24/2012 The Brazilian government has announced a package of tax measures worth around USD1bn to stimulate growth in key economic sectors, to ensure the nation meets this year's growth target of 4.5%.
	BC Unveils New Sales Tax Law 5/16/2012 Kevin Falcon, the Finance Minister of the Canadian province of British Columbia, has introduced legislation to meet government's commitment to return to the Provincial Sales Tax on April 1, 2013.
	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.
	China Confirms Slowdown In Tax Revenue Growth 4/26/2012 The Ministry of Finance has announced final figures showing that China's tax revenues increased substantially by 10.3% in the first quarter of 2012, much less than the increase of 32.4% experienced in the first quarter of last year, and the slowest growth rate in three years.
	Austria's Tax Revenues Rise 4/26/2012 The Austrian finance ministry has recently published details of its tax revenue figures for the first quarter of the year, showing total income from January to March 2012 of around EUR16.2bn (USD21.4bn), up by approximately EUR600m or 3.8% from the first quarter of 2011.
	Canadian Budget Tax Legislation Tabled 4/24/2012 Canada's Finance Minister Jim Flaherty has tabled legislation which will implement certain tax provisions of his 2012 Budget, including reforms to tax shelters and minor changes to the sales tax system.
	Canadian Province To Introduce HST 4/23/2012 The Canadian province of Prince Edward Island will move to a harmonized sales tax system from April next year, with the government expected to table a package of legislative reforms later this year.
	China's Tax Revenue Growth Slows 4/17/2012 The Ministry of Finance has announced that China's national fiscal revenue increased substantially by 14.7% in the first quarter of 2012, marginally higher than the 13.1% rise seen in the first two months of this year, but much less than the increase of 33.1% experienced in the first quarter of 2011.
	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.
	Study Points Out Differences In US State Sales Taxes 4/16/2012 The Tax Foundation has pointed out that sales taxes in the United States, which are levied not only by state governments but also by city, county, Native American and special district governments, can have a profound impact on the total rate that consumers see at the check-out register.
	US Congress Agrees Short-Term Highways Funding Fix 4/3/2012 On March 30, the day before funding for the infrastructural programmes of the United States Federal Highway Trust Fund ran out on April 1, President Barack Obama announced that he had signed into law the Surface Transportation Extension Act of 2012, which provides a three-month extension until June 30, 2012.
	BC Panel Seeking Views On Business Taxation 3/26/2012 British Columbia’s Expert Panel on Business Taxation is seeking submissions to inform its work on business tax competitiveness.
	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.
	US Senate Passes Highways Tax Bill 3/16/2012 On March 14, the United States Senate passed, on a bipartisan basis, a bill to provide for an extension of highway-related taxes and the funding of infrastructural spending by the Federal Highway Trust Fund, which included an anti-tax haven amendment.
	India's Indirect Tax Revenues On The Up 3/13/2012 India's indirect tax revenue rose 9.6% in February, with the government having now collected 88.7% of its revenue target for the fiscal year to date.
	IMF Spells Out San Marino's Fiscal Challenges 3/8/2012 With San Marino adopting tax transparency, the territory now faces significant challenges in stabilizing the country's banking system and implementing structural tax reforms to provide stable tax revenues, the International Monetary Fund says.
	Noda Hopes To Deal With Opposition On Tax Hike 3/8/2012 The Japanese Prime Minister Yoshihiko Noda has confirmed, in a news conference with foreign journalists, that he still hopes to have fruitful discussions with the parliamentary opposition, led by the Liberal Democratic Party, on the government’s plan to raise the country's consumption tax from 2014.
	Indonesia Mulls Tax Breaks For 'Green' Car Makers 3/6/2012 Indonesia’s Minister of Finance, Agus D.W. Martowardojo, has disclosed that his ministry is looking at the granting of tax incentives to encourage the production of environmentally-friendly vehicles in the country.
	China To Expand VAT Pilot To Beijing 3/5/2012 Following the beginning of China’s pilot scheme to replace the existing business tax on the country’s service sector with value-added tax in Shanghai on January 1 this year, it has been confirmed that it will be extended to Beijing, commencing on July 1.
	Canada's Tax Revenues On The Up 3/1/2012 Canadian tax revenues were up 6.8% in December, with revenue from the first eight months of the fiscal year increasing by 4.2%.
	India Prepares For 'Paradigm Shift' With GST 2/29/2012 The implementation of a Goods and Services Tax in India will bring about a 'paradigm shift' in the area of indirect taxation in the country, Finance Minister Pranab Mukherjee has said.
	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 To Pursue Tax Reforms 2/20/2012 According to a statement by China’s State Council, after a meeting chaired by Premier Wen Jiabao, the government promised to push forward its structural reform programmes, including tax measures, to improve the country’s economic development and improve people’s living standards.
	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.
	Putin Eyes New Wealth Taxes 2/10/2012 Russian presidential candidate and current Prime Minister Vladimir Putin has announced that, if elected, his government would increase taxes on luxury items as part of a larger reform of the tax system to reduce the country's over-dependence on oil revenues and fund ballooning government expenditure.
	Germany's FDP Eyes Saver Tax Relief 2/8/2012 Germany’s ruling Free Democratic Party has recently put forward the idea of raising the savers' tax-free allowance to compensate for a tax imposed on financial transactions.
	Tax Stymies Indian Aviation Sector 2/2/2012 Changes to India's tax policy on the aviation sector are paramount to securing the massive investment required to establish India as one of the top five civil aviation markets in the world, which is the government's goal.
	Sales Tax Rise 'Will Not Solve Japan's Fiscal Problems' 1/27/2012 In a study of fiscal trends in the country, the Cabinet Office has disclosed that the Japanese government would still not achieve its longer-term deficit reduction targets, even if its proposed consumption tax increases are able to be put into effect.
	Essar Oil Dealt Tax Blow By Indian Court 1/23/2012 The Supreme Court in India has set aside the judgement of the Gujarat High Court which ruled in favour of Essar Oil's claim to benefits under a sales tax deferment scheme in the state of Gujarat.
	Rösler Eyes Stock Market Tax As EU Option 1/23/2012 German Economy Minister and leader of the ruling Free Democratic Party Philipp Rösler has recently put forward the idea of introducing a European Union stock market sales tax, based on the existing UK model, as an alternative to the controversial financial transactions tax, currently dividing opinion within the coalition, and indeed within Europe.
	'No Elections Before Sales Tax Hike Agreement', Noda Repeats 1/20/2012 Following the recent cabinet reshuffle which saw the appointment of Katsuya Okada as deputy prime minister with responsibility for negotiating social security and tax reform with the parliamentary opposition, Japan’s Prime Minister Yoshihiko Noda has re-emphasized that he does not intend to call for elections before the approval of consumption tax increases.
	BC Government Appoints Tax Panel 1/17/2012 The British Columbian government has appointed an Expert Panel on Tax to provide recommendations on business tax competitiveness and improvements to sales tax administration.
	Noda Reshuffles Cabinet To Gain Sales Tax Support 1/16/2012 In a move designed to defuse fractious relations with opposition parties, Japanese Prime Minister Yoshihiko Noda has significantly reshuffled his cabinet to promote discussion on the prospect of doubling the nation's consumption tax.
	Expiry Of State Sales Tax Deduction Impacts On US Taxpayers 1/17/2012 As the United States Congress debates whether to continue allowing taxpayers to deduct the amount they pay in state sales taxes from their federal income tax returns, an analysis from the Tax Foundation has found that states vary widely in the number of individuals taking the deduction.
	Canada, BC Agree Terms Of HST Repayment 1/13/2012 British Columbia has finally agreed a repayment schedule for the federally-backed funding the province received for its failed transition to a harmonised sales tax regime.
	Indiana Reaches Sales Tax Agreement With Amazon 1/10/2012 Mitch Daniels, Governor of the US state of Indiana, has announced that the state has reached an agreement with Indiana’s largest online retailer, Amazon.com, Inc., to begin collecting Indiana sales tax on internet purchases - the fourth state to reach such an agreement with the online retail giant.
	Noda Reiterates Need For Tax Hike 1/4/2012 Japanese Prime Minister Yoshihiko Noda used his first news conference of the year on Wednesday to try to bring home to a sceptical parliament and electorate the need for a consumption tax hike to shore up the country's ballooning social security budget.
	Canadian Government Commended For Tax Court Proposals 1/2/2012 Plans to overhaul the running of Canada's Tax Court have been endorsed by the Tax Executives Institute but they could be improved, the association has said.
	Latest Canadian Automobile Deduction Limits Announced 1/2/2012 The Canadian government has released its automobile expense deduction limits and the prescribed rates for the automobile operating expense benefit that will apply in 2012.
	Canada Examines Its FTZ Policies 12/30/2011 Canada is to consult on its foreign trade zone-like policies and programmes in an effort to ensure their international competitiveness.
	New Year Tax Misery In Canada 1/2/2012 There will be winners and losers when the new year brings in major payroll and pension tax changes in Canada, the Canadian Taxpayers Federation has said.
	Japan's Government Agrees Plan For Consumption Tax Hikes 1/2/2012 Japan’s Prime Minister Yoshihiko Noda has been able to fulfil his government’s target to produce, before the end of this year, a detailed plan for future consumption tax rises, but only after his personal intervention at a meeting of the ruling Democratic Party of Japan.
	Japanese Government Issues 2012 Budget 12/28/2011 Prime Minister Yoshihiko Noda’s government has approved and submitted a JPY90.3 trillion budget for the next fiscal year, beginning on April 1, 2012, which points out, in particular, the difficulties the government has experienced in restricting its general spending and the issuance of further public debt.
	Japan's Rating Cut On Fiscal Concerns 12/26/2011 Rating and Investment Information, Inc., the Japanese credit rating agency, has cut Japan's sovereign long-term debt rating to AA+, from AAA, due to concerns over its existing level of public debt, and doubts whether the government can raise sufficient tax revenue to halt the continual increase in borrowings in the foreseeable future.
	New HST Deal On The Cards For BC 12/21/2011 British Columbia may get a better deal on repaying its harmonized sales tax loans as ministers discuss extending the time limit by which the province has to return the funds.
	Japan Agrees On 2012 Tax Proposals 12/13/2011 After reaching an agreement with its colleagues in the ruling Democratic Party of Japan, the Japanese government is readying its tax proposals for the next fiscal year from April 2012.
	India Tackles Aviation Taxes 12/7/2011 The high level of tax on jet fuel has once again come to the top of the political agenda in India as the country's aviation industry battles against increasing operating costs and rising losses.
	Cyprus Agrees Deficit-Busting Tax Measures 12/7/2011 The Cypriot government has said there is multi-party consensus towards tax hikes and retrenchment to rapidly reduce the nation's deficit to below 3% of gross domestic product by 2012, to allay fears that the nation will require a bailout.
	US Congress Grapples With Online Sales Tax Quandary 12/2/2011 The United States House of Representative Committee on the Judiciary held a hearing on November 30 on the limitations on states’ authority to collect sales taxes on e-commerce, and received conflicting advice from such internet businesses as Amazon.com and eBay Inc.
	Rehn Praises Italy's Fiscal Reforms 12/2/2011 A broadly favourable report has been given to the Italian government’s existing deficit-reducing measures by a review team led by Olli Rehn, the member of the European Commission responsible for Economic and Monetary Affairs.
	Brazil Urged To Reform Taxes 11/28/2011 Credit rating agency Standard and Poor's has attributed its upgrade of Brazil's sovereign credit rating to the government's handling of the economic crisis, in maintaining robust growth and moderating double-digit inflation. However, the agency has suggested that enhancements to the nation's fiscal regime are critical to future upgrades of Brazil's newly-awarded triple-B rating.
	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.
	Japan Looks Again At Future Consumption Tax Rises 11/23/2011 Following parliamentary approval for the third and largest reconstruction budget on November 21, political discussion in Japan has returned to Prime Minister Yoshihiko Noda’s intentions regarding the proposed increases to the rate of consumption tax.
	China Confirms VAT Pilot In Shanghai 11/23/2011 China’s Ministry of Finance and the State Administration of Taxation have confirmed that, from January 1, 2012, the pilot scheme to replace the existing business tax on the country’s service sector with value added tax will start in Shanghai.
	Alberta Government Commits To 'No PST' 11/18/2011 While there will be no provincial sales tax introduced in Alberta, the government will consider spending its money more efficiently to ensure the better delivery of healthcare and education, the Finance Minister has said.
	Canada To Simplify Tax Court Rules 11/14/2011 The Canadian government has launched a consultation on proposals designed to improve the caseload management of the Tax Court of Canada.
	IMF Recommends Bahamas Consumption Tax 11/9/2011 The International Monetary Fund has published its Article IV consultation with the Bahamas, which contains recommendations for the government to introduce a broad-based consumption tax to aid debt reduction efforts amid a continued contraction in the islands' financial services and construction sectors.
	Japanese Car Makers Look For Lower Car Taxes 11/8/2011 The Japan Automobile Manufacturers Association organized a press conference recently, together with automobile manufacturers, trade unions and dealer representatives, to request the government to come to the industry’s aid by reducing car taxation in the country.
	US Senators Seek To Protect Online Retailers 11/8/2011 A bipartisan 'Sense of the Senate' Resolution has been introduced in an attempt to counteract efforts within the United States Congress, and by some states, to impose sales taxes on out-of-state online retailers.
	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.
	Canada Consults On Income And Sales Tax Changes 11/3/2011 The Canadian government has unveiled a package of draft legislative proposals relating to income and sales tax regulations.
	China Raises Tax Threshholds For Small Businesses 11/3/2011 In a statement, China's Ministry of Finance has announced that it has increased, with effect from November 1, the minimum thresholds for business tax, in order to provide some tax relief for the country’s smallest companies.
	US States Extend Higher Tax Rates On 'Fat Taxes' 11/3/2011 A new study by the Tax Foundation has found that US states are increasingly extending higher tax rates to products like candy and soda, ostensibly to fight obesity, and that this is creating a complex and confusing classification system to divide the ‘good’ food and drink products from the allegedly ‘bad’ ones.
	China Pilots Change From Business Tax To VAT 10/28/2011 An executive committee meeting of China’s State Council has announced the approval of a pilot scheme to replace the existing business tax on the country’s service sector with the value added tax which is currently imposed on manufacturing companies.
	South Korea To Provide Electric Car Tax Breaks 10/14/2011 South Korea’s Ministry of Knowledge Economy has stated that the government intends to offer tax incentives for buyers of electric cars, in an attempt to increase further the country’s market for energy-efficient motor vehicles.
	Canada Tops Forbes Business Rankings 10/12/2011 Canada is the 'best country for business', according to a new Forbes report, with its improved tax standing accounting for its high ranking. On the other hand, the high tax burden faced by US citizens means that country has slipped down to tenth position.
	IMF Backs Australian Tax Policy 10/10/2011 The International Monetary Fund has endorsed the Australian government's tax policies in its latest review of the country's economy.
	Japanese Government Puts Forward Huge Reconstruction Budget 10/11/2011 The Japanese government has agreed a further JPY12 trillion budget, including proposals for taxation increases, to be presented to opposition parties and parliament for the financing of reconstruction costs in the earthquake and tsunami-hit north-east of Japan.
	Quebec, Canada Sign Sales Tax Agreement 10/3/2011 After a fifteen year wait, Quebec is to receive compensation for the harmonization of its sales tax regime, after ministers hammered out a deal with the federal government, Prime Minister Stephen Harper has confirmed.
	Quebec Sales Tax Deal Imminent 9/30/2011 After 'significant progress' was made in recent talks between Quebec and the federal Canadian government, the province is expected to receive its long-awaited compensation package for the implementation of a harmonized sales tax regime.
	Japanese Tax Panel Finalises Tax Package 9/29/2011 The tax committee of the ruling Democratic Party of Japan has, after a prolonged discussion, agreed its proposals for taxation increases, to be presented to the opposition parties and then parliament, for the financing of reconstruction costs in the earthquake and tsunami-hit north-east of Japan.
	FBR Bureaucracy Angers Pakistan's Tax Practitioners 9/27/2011 The Pakistan Federal Board of Revenue has faced the wrath of the Lahore Tax Bar Association which has announced that the filing of sales tax and federal excise returns has now become a 'herculean task' due to the 'whimsical procedures' of the tax office.
	Curacao And St Maarten Face Fiscal Challenges 9/26/2011 In its first report since the break up of the Netherlands Antilles, the International Monetary Fund has noted that Curacao and Sint Maarten face several hurdles ahead in the short- and medium-term to restore economic growth, establish supportive tax regimes, and boost international competitiveness.
	German Towns Poised To Impose 'Bed Taxes' 9/23/2011 Provoking outrage among hoteliers, an increasing number of large towns in the German state of North Rhine-Westphalia have elected to impose a levy on overnight hotel accommodation.
	Japanese Panel Gives Three Tax Options For Reconstruction Budget 9/20/2011 A tax panel, appointed by Prime Minister Yoshihiko Noda’s new government, has recommended three options for funding reconstruction in the earthquake and tsunami-hit north-east of Japan, each of which involves tax increases.
	Progress Made In Quebec Sales Tax Talks 9/16/2011 Quebec and Canada are working to hammer out a deal on sales tax harmonisation in the province, with both sides confident that talks will lead to an agreement.
	HST Vote Gives BC A Fiscal Headache 9/15/2011 British Columbia’s decision to scrap its harmonized sales tax system will hit the province’s revenues, raise the deficit and result in higher debt levels, the Ministry of Finance has said.
	Portuguese Austerity Wins IMF Backing 9/14/2011 The International Monetary Fund has welcomed Portuguese authorities' efforts to consolidate the nation's budget in the first review of the country's progress under a three-year financial assistance package.
	Pakistan Revenue Agency To Review Tax System 9/13/2011 The Pakistan Federal Board of Revenue is currently conducting a review of the country’s tax system, and as part of this review has constituted five working groups under the umbrella group of the Finance Minister’s Tax Reforms Coordination Group.
	IMF Recommends Hike In Japan's Consumption Tax 9/14/2011 While Prime Minister Yoshihiko Noda’s new government seems to be looking to bind both ruling and opposition parties into a gradual tax-increasing policy, the International Monetary Fund has indicated that it believes Japan’s economy could absorb more substantial consumption tax hikes.
	Amazon Barters To Delay California's Online Sales Tax 9/7/2011 Following the entry into force on July 1 this year of California's online sales tax, and the company’s attempt to arrange a referendum in the state for its repeal, Amazon has made a further move to obtain a reprieve from the new tax for a period of three years.
	Business Braced For Sales Tax Chaos In BC 9/5/2011 British Columbia's decision to scrap the harmonized sales tax system has provoked a mixed reaction from the business community, but opinion is largely unanimous that businesses and the government alike must think about making the transition back to the provincial and general sales tax regime as smooth as possible.
	Noda Looks For A Bipartisan Tax Consensus 9/1/2011 It appears that latest Japanesse Prime Minister Yoshihiko Noda will persist with the tax-raising stance he took when Minister of Finance in the previous Kan government, in order to resolve Japan’s reconstruction and budget deficit problems.
	Tax Revenues Reduce Canada's Deficit 8/30/2011 Canada's fiscal deficit fell year-on-year during the first three months of the 2011/12 financial year, an achievement aided by a 4.8% rise in revenues.
	Moody's Downgrades Japan Over Debt And Deficit 8/26/2011 Moody's Investors Service has reduced Japan's sovereign long-term credit rating, partly as a result of the government's ongoing inability to agree a comprehensive tax reform plan.
	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.
	British Columbia Faces Sales Tax Dilemma 8/17/2011 More than a third of British Columbia's electors turned out to vote on the future of the province's sales tax regime, but that future looks potentially more uncertain in the wake of comments made by Canada's federal finance minister Jim Flaherty.
	Rise In Indian Indirect Tax Collections 8/11/2011 India’s Central Board of Excise and Customs has just released its latest analysis of indirect tax collections in the country, showing that despite a slowdown in industrial output, there has been an increase in revenue from indirect tax.
	Future Of British Columbia's HST To Be Known Soon 8/8/2011 British Columbians could discover the fate of their controversial and unpopular sales tax regime by the end of the month, with the results of a referendum expected to be declared on August 25.
	Pakistan Tax Office Mulls Internal Reforms 8/5/2011 At a Pakistani Chief Commissioner’s Conference chaired by the Secretary of the Revenue Division on August 4, it was decided that in the current financial year the Federal Board of Revenue should start focusing on enforcement, audit and bringing new taxpayers into the tax net.
	South Africa's Loan To Swaziland Has Fiscal Strings 8/5/2011 South Africa has agreed to provide a conditional guarantee for a loan of ZAR2.4bn from the South African Reserve Bank to the Central Bank of Swaziland, one of the conditions of which is that Swaziland should implement the fiscal reforms required by the International Monetary Fund.
	Tax Revenues Rise In Canada 8/2/2011 Canada's federal deficit fell in April and May this year, assisted in part by higher tax receipts.
	BC Finance Minister Defends HST 8/1/2011 With British Columbia in the midst of a referendum on the future of its sales tax regime, the province's Finance Minister has outlined his reasons why electors should vote to keep the current harmonized sales tax in place.
	Japan Passes Second Reconstruction Budget 7/28/2011 The Japanese parliament has passed the JPY2 trillion second supplementary budget to finance immediate reconstruction needs after the earthquake and tsunami in March, with support from both the governing and opposition parties.
	Indian GST Takes Step Forward 7/22/2011 The Indian government has appointed Sushil Modi, a senior member of the Bharatiya Janata Party, to head a panel to look at implementing the single goods and services tax (GST).
	Antigua And Barbuda Unveils Stimulus Package 7/15/2011 Antigua and Barbuda's Finance Minister has launched a stimulus package which will provide a series of business incentives and tax concessions for targeted sectors and groups.
	Amazon Seeks Referendum On California's Online Sales Tax 7/14/2011 Following the entry into force on July 1 this year of California's online sales tax, Amazon is already trying to arrange a referendum for its repeal.
	Trichet Slams EU Financial Tax 7/8/2011 During a recent meeting of the European parliament’s economic and monetary affairs committee in Brussels, President of the European Central Bank Jean-Claude Trichet vehemently rejected the idea of introducing a financial transactions tax purely at European level.

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Stories that are tagged 'sales tax'

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