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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.
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Vietnam's SMEs Get VAT Boost 5/16/2012 Vietnam’s Ministry of Finance has announced an extension to value added
tax payment deadlines, so as to provide financial assistance, in particular,
to small and medium-sized enterprises.
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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.
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HMRC Increases Use Of Asset Seizure Powers 5/7/2012 The UK tax authority, HM Revenue and Customs is increasingly using its powers
to seize businesses assets in order to recover unpaid value-added tax bills, new statistics
show.
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HMRC Warned Of RTI Impact On Small Firms 5/1/2012 The Low Incomes Tax Reform Group has said that the UK tax
authority, HM Revenue and Customs, has underestimated the impact of Real Time Information
on small employers.
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Australian Inspector-General Reviews SME Compliance 4/26/2012 The Australian Taxation Office could improve its compliance approaches to small- and medium-sized enterprises and high wealth individuals in a number of areas, according to a new report.
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EU Parliament Backs Mandatory CCCTB 4/26/2012 The European Parliament has voted in favour of making mandatory the implementation of a Common Consolidated Corporate Tax Base among European Union member states despite sustained opposition from some nations.
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US, Tunisia Hold Talks Under Bilateral TIFA 4/18/2012 A delegation from the Office of the United States Trade Representative has recently met with the Tunisian government, under the auspices of the US-Tunisia
Trade and Investment Framework Agreement Council, which was re-launched
late last year.
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Singapore Eases Small Business Tax Compliance 4/3/2012 At the annual Budget Seminar organized by the Tax Academy of Singapore, Moses
Lee, the Commissioner of Inland Revenue, has disclosed that the Inland Revenue
Authority of Singapore is to introduce a further simplification of tax
filing for small companies.
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Help Provided For Singapore's SMEs 3/29/2012 At Singapore’s Enterprise Development Centre Conference held recently,
it was described how with the assistance of the Inland Revenue Authority of Singapore, small and medium-sized enterprises can be helped to understand the
government’s Productivity Innovation Credit programme.
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Ireland Appoints 'Start-Up Ambassador' In China 3/30/2012 Enterprise Ireland has appointed an 'International Start-up Ambassador' in China as part of the government's Action Plan for Jobs 2012.
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Brazil Hikes Financial Tax Again 3/15/2012 The Brazilian government has stepped up its campaign to weaken the nation's currency,
the Real, with the extension of the 6% financial operations tax, known as IOF,
to foreign loans and bonds maturing within five years.
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US Lawmakers Mull Small Business Tax Reforms 3/13/2012 The House of Representatives Committee on Ways and Means has held a hearing to
examine how the United States tax code affects closely-held businesses, and how and under which sets of rules
such firms should be taxed within any future tax reform.
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UK Panel Recommends Small Business Tax Reforms 3/8/2012 Practical changes to the UK's tax system will help ease the burdens imposed on small businesses, the Office of Tax Simplification has said.
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VAT Hike Hits Ireland's Retail Sales 3/5/2012 Irish retail sales fell by 3.7% in the wake of January's value-added-tax hike, prompting small business leaders to call on the government to re-think its strategy.
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'Cut 50% Tax Rate', SMEs Tell UK Chancellor 3/6/2012 The sooner the UK's top rate of income tax is scrapped, the better, a group of small and medium-sized enterprise leaders have told the Chancellor of the Exchequer.
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Belgium Urged To Extend Venture Capital Tax Break 3/5/2012 The European Commission has officially asked Belgium to amend its legislation
on tax credits for investing in venture capital.
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HMRC Responds To Transparency Concerns 3/5/2012 The UK tax authority HM Revenue and Customs claims that new governance arrangements will bring greater transparency, scrutiny and accountability to significant tax disputes.
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Tax Breaks Can Boost SME Funding, Says CBI 2/23/2012 The UK's small and medium-sized enterprises need improved access to more varied sources of finance, the Confederation of British Industry has said, suggesting the government introduce new tax incentives.
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UK Accredits New Lenders For SME Financing Scheme 2/22/2012 The UK government has approved the participation of four new lenders in its Enterprise Finance Guarantee, which provides help to small and medium-sized enterprises.
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EU Adopts 'Think Small First' Regulation Agenda 2/22/2012 At its meeting on February 20-21, the European Council adopted conclusions on
a future smart regulation agenda with a strong end-user focus, in that it will
seek wherever possible to exempt small businesses from European Union legislation,
or to introduce special regimes so as to minimise the regulatory burden on them.
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Consultation Launched Into European Company Law 2/22/2012 The European Commission has launched an in-depth consultation on the future
of European company law, to ascertain whether Europe’s needs are still met
by the existing legal framework.
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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.
|
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UK Tax Amnesty Targets Electricians 2/15/2012 HM Revenue and Customs has unveiled its newest tax amnesty scheme, offering electricians the opportunity to pay the taxes they owe with lower penalties.
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UK Offers Online Seminars To Taxpayers 2/14/2012 The UK tax authority HM Revenue and Customs has launched a 'webinar' programme, offering online tax help to businesses and the self-employed.
|
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Croatia Eyes March VAT Rise 2/13/2012 During a recent sitting in Zagreb, the Croatian government united on plans to
increase the standard rate of value-added tax from 23% currently to 25%
from March 1, while at the same time adopting other fiscal measures designed
to redress the public finances.
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Korean Opposition Promises To Axe KORUS FTA 2/13/2012 South Korea’s main opposition Democratic Party has confirmed that it
would cancel the free trade agreement with the United States if it became
the majority party in parliamentary elections due in April this year.
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HMRC Revamps UK Business Record Checks 2/9/2012 The UK tax authority HM Revenue and Customs is to take a fresh approach to its business records checks programme in the coming financial year. The move comes following a review of the programme, and the revamped approach will be launched early in the 2012/13 financial year.
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French Start-Ups Hindered By Red Tape 2/8/2012 The general council responsible for industry, energy and technology in France has recently published a report on the development of start-up businesses,
reviewing support networks, the fiscal and social environment as well as the conditions
for accessing finance, and has put forward a series of recommendations.
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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.
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Irish Revenue Brief On USC Released 2/6/2012 Ireland's Revenue agency has published an e-brief detailing the application by employers of the Universal Social Charge to social welfare-type payments.
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Sarkozy's Presidential Rival Outlines Fiscal Pledges 2/2/2012 French Socialist candidate for the Elysée, François Hollande,
has recently unveiled details of his presidential election programme, containing
a raft of fiscal measures, designed to stimulate the economy, to support small- and medium-sized companies in France, and to
reduce the public deficit to 3% of gross domestic product in 2013.
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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.
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US, Egypt Agree To Develop Trade 1/27/2012 At a recent meeting, the United States Trade Representative Ron Kirk and Egyptian
Minister for Industry and Foreign Trade Mahmoud Eisa agreed to develop an Action
Plan designed to enhance further the already strong bilateral trade and investment
relationship.
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Vietnam Extends Corporate Tax Payment Dates 1/25/2012 Vietnamese Prime Minister Nguyen Tan Dung has signed a Decision which approves
an additional delay to the tax payments of small and medium-sized enterprises
and those businesses employing a significant number of workers in certain labour-intensive
sectors.
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InvestHK Assists Record Number Of Companies 1/23/2012 Invest Hong Kong has announced that it assisted 303 overseas and mainland
Chinese companies to set up or expand in Hong Kong in 2011 - the 11th consecutive
year that it has beaten its annual target for the number of completed projects.
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Obama's Job Council Recommends Tax Reform 1/20/2012 President Barack Obama's Council on Jobs and Competitiveness, set up a year
ago, has presented its 72-page report, including recommendations to create a
simpler, more efficient tax system that 'levels the playing field for
businesses and makes the US more competitive internationally'.
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Hong Kong To Relax Listing Rules For Chinese Firms 1/19/2012 At the Asian Financial Forum, held in Hong Kong, the vice-chairman of the China
Securities Regulatory Commission, Yao Gang, has indicated that overseas
listing rules will be relaxed this year.
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UK Tackles Abuse Of Post-Cessation Trade Relief 1/16/2012 The UK government has announced that it is to introduce new legislation to block
a tax avoidance scheme involving post-cessation trade relief.
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DIFC Courts Resolve First Non-DIFC Case 1/12/2012 The Dubai International Financial Centre Courts, the English language, common law judicial system based in Dubai, has reported that its first non-DIFC related case has been heard and resolved.
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Tax Disputes Service Launched For UK SMEs 1/10/2012 The UK's small and medium-sized businesses will benefit from the introduction of a new dispute resolution service, with the launch of a pilot scheme underway.
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French SME Body Welcomes 'Social VAT' 1/10/2012 Underlining the need to reduce the cost of labour in France and to widen the base
for financing welfare, the French industry body representing small- and medium-sized
companies, CGPME, has called for a rise in value-added tax and for
a rise in the general social contribution in return for lower employer contributions.
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PwC Warns Of UK PAYE Overhaul 'Perfect Storm' 1/11/2012 While reform of the UK's pay-as-you-earn tax system is in itself a good thing, a tight timescale for completion could create major issues for employers, PwC has warned.
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UK Opposition Attack NI Holiday As A 'Flop' 1/5/2012 The UK government's flagship national insurance holiday scheme has been a 'total flop', the opposition Labour party has said, as figures reveal the scheme has supported a fraction of the businesses it was intended to help.
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UK Issues Warning On Olympics Labour Taxes 12/21/2011 Employers taking on more staff ahead of the London Olympics must carry out checks to ensure their labour suppliers are paying the correct taxes, HM Revenue and Customs has said.
|
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Canadian Corporate Tax Filing Rules Amended 12/19/2011 Canada's corporate partnership tax deferral rules are to be amended to extend the time available to companies to file an alignment election.
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Hong Kong Discusses Tax Support For SMEs 12/16/2011 In his reply to a question in the Legislative Council, Hong Kong’s Secretary
for Commerce and Economic Development, Gregory So, confirmed that the government
would, in formulating the 2012-13 Budget, consider whether further measures were required
to help small and medium-sized enterprises to overcome the challenges faced
in the current economic environment.
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IRS Told To Improve Its Auditing Of Small Corporations 12/8/2011 The United States Internal Revenue Service should continue to improve the
quality of its audits of small corporations, according to a report released by
the Treasury Inspector General for Tax Administration.
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Semeta Outlines Future Of VAT In Europe 12/8/2011 European Union Commissioner for Taxation Algirdas Semeta has outlined details
of the Commission’s strategy for the reform of value-added tax in
the European Union, which aims to simplify the system, to make it more
effective and robust, as well as fraud-proof, to the benefit of businesses and
the Internal Market.
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Canadian SMEs To Benefit From EU FTA 12/2/2011 A free trade agreement with the European Union will create jobs and economic growth for all regions of Canada, the minister in charge has said, welcoming a report from small and medium-sized enterprises endorsing the negotiations.
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EU Looks To Reduce Regulatory Burden On Small Businesses 11/25/2011 The European Commission is proposing a new approach which will seek wherever
possible to exempt small businesses from European Union legislation, or to
introduce special regimes so as to minimise the regulatory burden on them.
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UK Launches New Court Service To Enforce SME IP Rights 11/18/2011 The UK's small and medium-sized businesses will now find it easier to protect their copyrights, trade marks and designs, with a new small claims service to be introduced at the Patents County Court.
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CBI Recommends UK Fiscal 'Plan A Plus' 11/14/2011 The UK government needs to consider enhancing current deficit reduction plans, the Confederation of British Industry has said, stressing the need for reform of the country's tax credit regime.
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Reding Pushes EU Optional Contract 11/14/2011 During her speech at a conference on European contract law in Warsaw, the Vice-President
of the European Commission, and European Union Justice Commissioner,
Viviane Reding, pointed to the proposed optional Common European Sales Law as
a means of energizing cross-border trade and contributing to economic growth.
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Investor Dispute Clause Holds Up KORUS FTA 11/3/2011 While South Korea’s main opposition Democratic Party is still blocking
the passage of the South Korea–United States free trade agreement in a parliamentary committee, opposition is now centred on the agreement’s
investor-state dispute settlement clause.
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Ireland Launches International Start-Up Fund 11/2/2011 The Irish government has launched a EUR10m International Start-Up Fund, aimed at encouraging overseas entrepreneurs to locate start-up businesses in Ireland.
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CBI Calls For Tax Incentives 11/1/2011 The Confederation of British Industry has called on the government to introduce a new tax incentive to encourage companies to take on young unemployed people, as part of a package of measures aimed at boosting employment across the UK.
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UK To 'Liberate' Small Business 10/27/2011 The UK's coalition government is reviewing regulation and encouraging changes to tax compliance rules in a bid to 'liberate' small businesses from onerous tax rules and red tape, according to Deputy Prime Minster Nick Clegg.
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EU To Modify Transparency Directive 10/28/2011 The European Commission is proposing to modify notification requirements
for acquirers when they reach a certain stake in a listed company, reduce burdensome
reporting obligations for all listed companies, and simplify accounting rules
for small- and medium-sized enterprises, to produce further cost savings
for businesses.
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Singapore Includes Cloud Computing In Tax Incentives 10/26/2011 At a recent forum, Singapore’s Infocomm Development Authority confirmed
that businesses will, through the inclusion of related costs under the Productivity
and Innovation Credit scheme, be able to obtain significant tax benefits
for cloud computing.
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UK, Mexico Sign IP Agreement 10/27/2011 A Memorandum of Understanding, to improve international cooperation between
the two nations on issues involving copyright, patents, trademarks and designs,
has been signed between the United Kingdom Intellectual Property Office and the Mexican Institute of Industrial Property.
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New Zealand To Tighten Company Rules 10/17/2011 A bill that tightens rules around company directors and company registration has been introduced to the New Zealand Parliament by Commerce Minister Simon Power.
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Hong Kong Improves SME Financing Guarantee Scheme 10/13/2011 The Hong Kong Mortgage Corporation Limited has announced a number of enhancements
to the SME Financing Guarantee Scheme, in an attempt to encourage banks
to be more responsive in meeting the financing needs of small and medium-sized
enterprises.
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FAF Rejects 'Little GAAP' For US Private Companies 10/7/2011 A new body, with the authority to identify standards that require modification
and to vote on specific proposed exceptions or modifications to United States
Generally Accepted Accounting Principles for private companies, is the
centrepiece of a plan released for public comment by the Financial Accounting
Foundation.
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Spain's Rubalcaba Eyes Further Tax Rises 10/4/2011 Spain’s Socialist candidate in the forthcoming November 20 elections,
Alfredo Perez Rubalcaba, has recently announced plans to increase by 10% the
tax levied on alcohol, excluding wine and beer, and on tobacco as part of efforts
to finance and to safeguard the country’s current healthcare system.
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UK SME Investors Secure GBP100m In Tax Breaks 9/28/2011 Investors in the UK's small and medium size enterprises are set to benefit from tax breaks worth GBP100m (USD156m), after the European Commission gave the go-ahead for the government's plans to stimulate growth and job creation.
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UK To Step Up Business Record Checks 9/26/2011 Following on from a pilot scheme, the UK's revenue agency is to extend its Business Records Checks programme, with plans to complete 12,000 such checks by the end of the current financial year.
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SEC To Form Advisory Committee on Small and Emerging Companies 9/19/2011 The United States’ Securities and Exchange Commission has announced
the formation of an Advisory Committee on Small and Emerging Companies,
which will focus on the interests and priorities of small businesses and smaller
public companies.
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South Korea Unveils Tax Revisions Bill 9/8/2011 South Korea’s Ministry of Strategy and Finance has unveiled its tax revision
bill, which will form the basis of the government’s policies and budget
for the next year, but, at the same time, has had to renounce a planned reduction
in income and corporate taxes.
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Dubai Courts Fast Track Employment Claims 9/9/2011 The DIFC Courts, the Dubai International Financial Centre’s independent, common law judicial system, has announced that the financial limit on employment cases that can be heard by the small claims tribunal has been increased.
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Mexico Boosts State Guarantees For SME Financing 8/18/2011 Mexico’s Secretary of Finance, Ernesto Cordero Arroyo, has led a presentation
of the federal government’s funding strategy for small and medium-sized
enterprises, and additional resources were announced for its guarantee programme.
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Canada's Tax System 'Too Complex' Say Accountants 8/12/2011 Canada's 'overly complex' tax system imposes unnecessary and significant hidden costs on businesses and consumers, the Certified General Accountants Association of Canada has said, calling for the launch of a debate on tax simplification.
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UK Consults On Mandatory Online VAT Returns 8/11/2011 The UK is pressing forward with the digitization of its tax system, with HM Revenue and Customs announcing plans to make online value-added tax filing, payment and registration mandatory in the coming year.
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Spanish Opposition Eyes Corporate Tax Cut For SMEs 8/9/2011 Spanish opposition party leader, Mariano Rajoy, has remained largely tight-lipped
over the policies his People's Party will implement should it be elected in
the forthcoming elections, recently brought forward four months to November
2011.
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Thailand's SMEs Unaffected By New Policies 8/4/2011 Thailand’s Office of Small and Medium Enterprises Promotion has
expressed the opinion that small and medium enterprises in the country
would not be much affected by the policies of the new government to increase the
minimum wage and reduce corporate income tax.
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UK Implements New Prospectus Directive Rules 8/3/2011 The UK has accelerated its implementation of key new European Union deregulatory measures with the hope of helping small businesses access equity finance more cheaply and effectively.
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UK Invites Comment On Small Business Tax Reforms 8/1/2011 As part of its review of small business taxation, the UK's Office of Tax Simplification has published two consultation papers, outlining potential tax reliefs for disincorporation and a simpler income tax system for the smallest companies.
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UK Reforms Rules To Boost SME Investment 7/8/2011 In an effort to encourage more equity financing of small and start-up businesses in the UK, the government has launched a consultation on proposals for reforms to the Enterprise Investment Scheme and Venture Capital Trusts.
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Ambitous Bangladesh Budget Announced 6/14/2011 Bangladesh’s 2011-12 Budget, introduced to parliament by Abul Maal Abdul
Muhith, the Minister of Finance, totals a record BDT1.64 trillion (USD21.7bn),
supported by tax revenues which are expected to increase by over 20%.
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French Assembly Rejects 'Google Tax' 6/15/2011 Within the framework of the examination of the country’s collective budget,
the French National Assembly voted recently to abolish the proposed tax on the
purchase of online advertising space in France.
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OECD Surveys Transfer Pricing Regimes 6/15/2011 The Organization for Economic Cooperation and Development has conducted a major new survey on the simplification of transfer pricing regimes, and found that over 80% of respondents have simplification procedures in place.
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MEPs Support Optional EU Contract 6/10/2011 The European Justice Commissioner, Vice-President Viviane Reding, has welcomed
the overwhelming majority vote in the European Parliament backing optional
European Union rules for the conclusion of contracts in the Single Market.
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EU Consults On Cloud Computing 5/18/2011 The European Commission has launched a public consultation on how the European
Union may fully benefit from 'cloud computing'.
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Mexico Urged To Bolster Tax Take 5/18/2011 Despite having weathered the global recession comparatively well, Mexico requires an extensive remodelling of key elements of its tax system, designed to strengthen low revenue levels by reducing reliance on volatile oil markets, broadening the tax base, and tackling tax evasion, the Organization for Economic Co-operation and Development has concluded.
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Irish Report Questions CCCTB's Legality 5/17/2011 Proposals for a European-wide Common Consolidated Corporate Tax Base fail to comply with key European Union treaty requirements, according to an Irish parliamentary committee report, which, if accepted by parliament, could cause further problems for a government pursuing a reduction in the country's bailout loan rates.
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Osborne Staying Course On UK Tax Reform 5/16/2011 With an unequivocally pro-business government striving to create the most competitive tax system in the G20, the UK is becoming a place for international business to flock, according to Chancellor George Osborne.
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Antigua & Barbuda Launches Business Incubation Project 5/10/2011 Antigua and Barbuda has launched a new project aimed at securing the growth and success of small and start-up businesses through the creation of "business incubators", where a range of services will provide valuable support to the sector.
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El Salvador Aims At Strengthening US Trade Ties 5/10/2011 Ministers from the US and El Salvador met last week to discuss the need for improved bilateral trade and greater competitiveness, underlining the importance of this partnership and the need to generate further commercial use of existing trade agreements.
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Moves To Strengthen SMEs In ASEAN 5/10/2011 In the run-up to the 18th Association of Southeast Asian Nations Summit
later this month in Jakarta, more than 200 participants from the
business community, government and academia, have met in a major symposium to
formulate concrete recommendations on what can be done to strengthen small and
medium-sized entities in the region.
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Tax Support For Small Businesses In Australia 5/9/2011 The Gillard Government has announced that it will provide Australian small businesses with an instant tax write-off of the first AUD5,000 (USD5,386) of any motor vehicle purchased from 2012-13.
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IDB Loan To Strengthen Argentina's Trade Policy 5/6/2011 Argentina is to receive a USD3m loan from the Inter-American Development Bank
to fund government efforts to expand its trade and investment relations with foreign countries.
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Feasibility Study Published On EU Contract 5/5/2011 An expert group of legal practitioners, former judges and academics from across
Europe, established by the European Commission in April 2010, has delivered
a feasibility study exploring ways to improve contract law in the European Union.
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APEC Business Leaders Call For Free Trade Deal 5/3/2011 The APEC Business Advisory Council, formed of business leaders from the
21 economies of the Asia-Pacific Economic Cooperation have recommended,
during a recent meeting in Seoul, that concrete steps should be taken to realise
a Free Trade Area of the Asia-Pacific.
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Harper Pledges Support For Canada's Small Businesses 5/3/2011 As Canadians prepared to go to the polls, Stephen Harper made further overtures to the Canadian business community, pledging that, if re-elected, he would introduce a series of measures targeted at boosting the success of the small-and medium-sized business sector.
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UK SMEs Eager For Accounting Switchover 4/28/2011 UK businesses strongly support the introduction of International Financial
Reporting Standards and Financial Reporting Standards for small and medium-sized
entities as a replacement for UK GAAP, believing that now is the right
time to move towards the new model of financial reporting, a new survey from
Ernst & Young shows.
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UK Accountants Support Standards Convergence 4/18/2011 A new survey shows an overwhelming majority of UK accountants favour the convergence of the Generally Accepted Accounting Practice with International Financial Reporting Standards.
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NDP Sets Out Tax Agenda For Canada 4/13/2011 The New Democratic Party, led by Jack Layton and one of Canada's main federal opposition parties, has laid out its election platform, which includes incentives for small businesses, but also, like those of its rivals, targets the middle class family vote.
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HMRC Alerts Employers On UK PAYE Changes 4/12/2011 The UK is to see a raft of changes to its Pay As You Earn regime this spring, and HM Revenue and Customs has issued an alert explaining the key alterations affecting annual returns and other forms.
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Canadian Government Launches Election Platform 4/12/2011 Canada's ousted governmental party, the Conservatives, have unveiled their election platform, which pledges to forge ahead with the recent failed Budget, reiterates the commitment to a low-tax plan, and introduces a raft of new tax breaks for businesses and families.
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Singapore Promotes Innovation Credit 4/8/2011 Small- and medium-sized enterprises in Singapore that need any help in applying
for the productivity and innovation credit will, this month, be able to
attend free clinics and obtain advice from the Enterprise Development Centres and the Inland Revenue Authority of Singapore.
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