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Stories that are tagged 'tax thresholds'

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.
South Africa Consults On Retirement Savings Incentives
5/15/2012
Following the Minister of Finance Pravin Gordhan’s announcement in his 2012 Budget in February that the South African government is looking to provide incentives for savings and the reform of the retirement industry, the National Treasury has now published an overview consultation paper.
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.
Indonesia Promises Tax Threshold Increase
5/2/2012
Despite the government’s failure earlier this year to reduce fuel subsidies, and thereby restrict Indonesia’s fiscal deficit, President Susilo Bambang Yudhoyono has announced that the country’s individual income tax threshold will be increased.
Hong Kong Gazettes Budget Measures
4/30/2012
The Inland Revenue (Amendment) Bill 2012, which aims to implement the concessionary revenue measures proposed in the 2012-13 Budget, has been gazetted in Hong Kong.
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.
UK Opposition Attacks New Tax Year Changes
4/10/2012
The Labour party's Ed Balls has slammed the latest round of tax and benefit changes to hit UK taxpayers, arguing that families with children are set to lose over GBP500 a year.
UK Taxpayers Educated On Working Tax Credit Changes
4/9/2012
The Low Incomes Tax Reform Group in the United Kingdom has warned a number of groups of tax credit claimants that they need to contact the UK tax authority, HM Revenue and Customs, if they want to continue to receive working tax credits, following the enactment of Budget provisions.
UK Legislates For Budget Tax Measures
4/2/2012
The UK government has published Finance Bill 2012, which legislates for tax measures included in both the 2012 and 2011 Budgets.
HMRC Readies Businesses For Online VAT Returns
3/27/2012
HM Revenue and Customs has warned of big changes ahead, as it prepares businesses for the e-payment of value-added tax returns.
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.
Deputy PM Backs UK 'Tycoon Tax'
3/13/2012
The UK's Deputy Prime Minister Nick Clegg has voiced his support for a 'tycoon tax', with a minimum tax rate enshrined in legislation to make sure everyone pays a 'fair share'.
Coalition In Talks To Scrap UK's Top Tax Rate
3/8/2012
There is a 'very broad understanding' within the coalition that the UK's top rate of income tax will be scrapped, the Business Secretary has confirmed. His hopes to see a mansion tax introduced may however be hit by new research showing that the case for the levy is far weaker than it at first appears.
Brazil Introduces New IOF Tax Changes
3/6/2012
Brazil announced its decision on March 1, to expand the scope of its financial transactions tax, IOF, on short-term loans and bonds.
'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.
South African Budget Unveiled
2/24/2012
Despite the concerns previously expressed over prospective South African public sector debt levels, Minister of Finance Pravin Gordhan’s 2012 Budget confounded expectations by looking for reduced fiscal deficits, rather than increases, in the next three years, despite tax relief measures and significant increases in government spending.
UK Inheritance Tax Changes To Hit More People
2/17/2012
Changes to the UK's inheritance tax threshold could see more people becoming liable for the levy, chartered accountancy firm Midgley Snelling has warned.
Ireland To Improve Tax Relief For Approved Donations
2/14/2012
Minister for Finance, Michael Noonan, has announced his intention to bring forward amendments to the charitable donations scheme, which will take effect from January next year.
German Bundesrat Rejects Tax Cut Plans
2/14/2012
Germany’s black-yellow coalition government has failed to receive support for its tax cut plans in the German Bundesrat, or upper house of parliament, when a bill providing for tax cut measures of around EUR6.1bn (USD8bn) was rejected in a first reading.
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.
Clegg Rocks Coalition Boat On Taxes
1/31/2012
The UK's tax system cannot go on as it is, the Deputy Prime Minister Nick Clegg has said, reiterating his commitment to a mansion tax and calling on the Chancellor to accelerate plans to raise the tax free threshold.
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.
Call For Clarity Over Irish Pension Tax Debacle
1/10/2012
The fallout from the Irish Revenue's disclosure that thousands of pensioners will receive an unexpected tax hit continues, with the agency forced to re-open customer enquiry lines and facing calls for a public information campaign.
UK's Families Hardest Hit By Tax, Benefit Changes
1/6/2012
Families with children are set to lose more through tax and benefit changes than pensioners or adults without children, according to new research from the Institute for Fiscal Studies.
Irish Pensioners Facing Tax Hit
1/9/2012
115,000 Irish pensioners are to be hit by unexpected tax charges after new information came to light regarding inaccuracies in figures held across different government departments.
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.
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.
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'.
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.
BA Slams UK Travel Duty Hike
12/12/2011
Further rises in the UK's air passenger duty are completely at odds with the government’s declared aim of creating the foundations for growth, British Airways has said.
German Cabinet Unites On Tax Cut Bill
12/12/2011
The German cabinet has now adopted the long-awaited bill providing for an increase in the personal tax allowance and tax brackets in Germany to compensate for the effects of inflation (fiscal drift).
UK Tax 'Drives Away Wealth Creators'
11/28/2011
The UK faces a lost generation of wealth creators, with the 50% top rate of income tax set to push them away and cost the economy billions, a new report has said.
Business Heads Urge UK To Cut Tax
11/14/2011
While simple solutions do not exist for stimulating growth in the UK's economy, measures including the scrapping of the 50% rate of tax would have a disproportionately positive impact, a group of prominent businessmen has said.
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.
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.
Diageo Boss Decries UK 50% Tax
10/25/2011
Chief executive of Diageo, Paul Walsh, has criticized the UK's 50% income tax rate on top earners, stating that the rate was detrimental to Britain’s economy and indicating that his company may relocate to a jurisdiction with less severe taxation.
German State Seeks Higher VAT Share
10/11/2011
Baden-Württemberg’s Finance and Economy Minister Nils Schmid has recently urged the coalition government to allocate a greater portion of its value-added tax revenues to the federal states to enable them to adhere to the debt brake rule.
Greece Unveils Further Austerity Initiatives
9/23/2011
The Greek government has unveiled details of a fresh wave of austerity measures, including key fiscal initiatives, aimed at appeasing international moneylenders as the country battles to secure release of a further tranche of aid to avoid imminent default and to endeavour to secure its future within the eurozone.
UK Lib Dems Talk Tough On Tax
9/21/2011
Senior Liberal Democrats in the UK coalition government have made it clear that theirs is not a party willing to cut the tax burden on the UK's wealthiest, stressing that their priority in government is to secure such treatment for those on low and middle incomes.
Switzerland Adjusts Tax Thresholds
9/15/2011
Determined to compensate for the effects of fiscal drift, Switzerland’s Federal Department of Finance has adjusted the Confederation’s direct federal tax rates and deductions for the 2012 tax year.
Germany's SPD Split On Top Rate Of Income Tax
9/15/2011
Just as the Social Democrats finally united on their tax plans, the party’s radical left wing raised its head above the parapet, calling for even greater tax rises for the country’s wealthiest, demanding notably the introduction of a 52% top rate of income tax.
UK Continues To Debate 50% Tax
9/13/2011
The UK's politicians and economists continue to be at loggerheads over the merits of the top rate of tax, with an ex-Chancellor, a Liberal Democrat minister and a leading businessman the latest to add their conflicting views to the debate.
Germany's SPD Seeks Massive Tax Rises
9/9/2011
Ahead of the forthcoming elections in Germany in 2013, the Social Democrats recently unveiled details of their fiscal concept, in which the party pledges to dramatically increase taxation in order to reduce new debt, and, most notably, to significantly increase the fiscal burden on the rich.
France Unites On Controversial Tax Measures
9/9/2011
The French National Assembly has united on plans to tax overnight stays in luxury hotels in France, as well as on plans to amend the taxation of capital gains derived from the sale of real estate, according to the president of the Union for a Popular Movement parliamentary group, Christian Jacob.
Jamaica To Forge Ahead With Tax Reform
9/2/2011
Jamaica has a good chance of successfully reforming its tax system, the country's Inter-American Development Bank representative has said.
China's Personal Income Tax Changes Take Effect
9/1/2011
The increase in the personal income tax threshold, approved earlier this year by the Standing Committee of China’s National People's Congress, went into effect on September 1.
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.
Irish Economic Reforms Praised By Euro Chief
8/31/2011
Ireland's international creditors are 'very pleased' with the country's economic progress, with the head of the eurogroup glad to see it bucking the trend of continual bad news in the eurozone.
Ryanair Boss Threatens To Leave Ireland Over Tax
8/25/2011
Michael O'Leary, the head of Irish airline Ryanair, has said that while he has 'no problem' paying income tax at 50%, rates over that threshold would simply drive him to leave Ireland.
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.
Canada Presses Forward With Budget Implementation
8/18/2011
The Canadian government has released its proposals for the introduction of a raft of new tax credits, many of which formed part of the Conservative party's election manifesto and the subsequent Budget introduced in June.
Coalition Rift Grows On UK Top Tax Rate
8/17/2011
Tax cuts designed to benefit those on lower and middle incomes must take precedence over abolishing the top rate of income tax, the UK's Deputy Prime Minister Nick Clegg has said, a statement which exposes a growing rift between the coalition parties on tax policy.
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.
Jamaican Tax Review Slated For September
8/15/2011
A review of Jamaica's planned tax reforms is to get under way in September, and will scrutinize the government's proposals for creating an efficient, simple and fair tax system.
China To Experience Slower Tax Revenue Growth
8/15/2011
At the same time as announcing an annual rise of more than 30% in tax revenues in the first seven months, China’s Ministry of Finance warned that revenue growth will slow down slightly during the second half of this year.
Too Much Confusion Over Canadian Tax Free Savings Accounts
8/10/2011
Canadian taxpayers have fallen foul of the rules surrounding Tax Free Savings Accounts, with the Canadian Revenue Agency failing to actively inform the public of the tax consequences involved, according to a new report.
Two More Years Of Tax Hikes For Ireland
8/3/2011
While the country is on track to meet and even exceed its bailout commitments for this year, Irish Finance Minister Michael Noonan has outlined the plans he intends to implement over the next two years to cut the deficit and satisfy Ireland's creditors.
No Benefit For Expats In China's Income Tax Changes
8/2/2011
Immediately following news that the personal income tax threshold was to be raised in China, it was also confirmed that expatriates working in the country will not obtain any benefit from it.
London Mayor Attacks UK Tax System
7/29/2011
The row over the UK's top rate of personal income tax has ignited trouble within the Conservative party, with the London mayor Boris Johnson attacking the government's strategy and calling for rate changes, in response to the latest poor GDP growth figures.
Jamaican Tax Reforms Under Review
7/15/2011
A parliamentary committee is to review the Jamaican government's proposals for a major overhaul of the country's tax system, which are due to be introduced in stages, beginning in January, 2012.
Gibraltar Cuts Income Tax
7/11/2011
Peter Caruana, Gibraltar's Chief Minister, has released his budget for the fiscal year 2011/12, which introduces a number of rate and threshold changes to the personal income tax system, among other changes.
Switzerland To Reform Lump Sum Taxation
7/7/2011
Switzerland’s Federal Council has announced plans to reform the lump sum taxation of wealthy foreigners in the Confederation, in a bid to strengthen fiscal equity as well as to improve acceptance of the system, while at the same time endeavouring to preserve the attractiveness of Switzerland as a location.
China To Increase Income Tax Threshold
7/4/2011
The Standing Committee of China’s National People's Congress has agreed to raise the personal income tax threshold by more than previously proposed by the government, but not by as much as had been expected after the comments received in a public consultation.
Greek Austerity Package Clears Hurdle
7/4/2011
Following a heated and tense debate, much as expected, the Greek parliament voted to adopt the government’s second bill implementing its new economic recovery plan, providing for dramatic tax rises, deep cuts in spending and rapid privatisation measures.
Greek Lawmakers Adopt Austerity Package
7/1/2011
Amid violent protests, and at the insistence of the European Union and the International Monetary Fund, the Greek parliament has adopted the government’s highly unpopular austerity package, vital to securing international aid and to averting sovereign debt default.
China Discloses Public Opinion On Income Tax Thresholds
6/20/2011
The Standing Committee of China's National People's Congress, prior to its reconsideration of the government’s proposed amendments to personal income tax thresholds, has released details of the feedback it has received from the public.
Jamaica Publishes Tax Reform Paper
5/17/2011
A major overhaul of Jamaica's tax system has been proposed by the government, with reduced consumption and corporate tax rates, coupled with a rise in income tax thresholds, intended to provide economic growth and generate competitiveness.
Jamaican Budget Launches Tax Reform
5/4/2011
With a Budget speech stressing the need to "kick-start growth in a big way", Jamaica's Finance Minister announced his intention to bring about fundamental change in the country's tax culture, with reforms designed to broaden the tax base, improve compliance, growth and competitiveness, and maintain economic stability.
City Bonuses Fall But Remuneration Culture Remains
5/3/2011
According to new research, City of London bonus payments fell during the 2010/11 financial year, and, while uncertainty over the UK's tax regime is not expected to inflict much harm in the medium-term, complacency and excessive regulation ought to be avoided.
BP Calculates Q1 Tax Costs
5/2/2011
Oil giant BP has released its first quarter results, which show decreased year on year profits, and which count the tax costs the company is likely to face during the coming months.
Brits Waste Billions In Unnecessary Tax Payments
4/22/2011
With total UK tax wastage expected to come in at GBP13.5bn in 2011, a new report has shown that poor inheritance tax planning will contribute nearly GBP1.3bn to this figure, an amount that is only likely to increase in future years.
UK Details VAT Changes
4/18/2011
The UK's revenue agency, HM Revenue and Customs, has outlined details of the key changes to the value-added tax system brought in by the recent Budget. They include an increase in the taxable turnover threshold, an alteration in fuel scale charges, and compulsory online registration.
UK Could Scrap 50% Tax Rate Within Two Years
4/14/2011
The UK looks set to see its controversial 50% top rate of personal income tax lowered in 2013, according to fresh speculation fuelled by the acknowledged distaste for the measure within the government.
Osborne Unveils Pro-Business UK Budget
3/25/2011
Chancellor of the Exchequer George Osborne has delivered a Budget of surprises and reforms, designed to accelerate the process of reforming the UK economy, and achieve a new model of sustainable and balanced growth, with a renewed emphasis on enterprise.
Isle Of Man Budget Announced
2/21/2011
Isle of Man Treasury Minister Anne Craine has released the Island's 2011/12 Budget, containing numerous measures to eliminate tax reliefs, and the Attribution Regime for Individuals, whilst maintaining all headline rates.
HMRC Amends VAT Payment On Account Thresholds
2/1/2011
HM Revenue and Customs has announced the adoption of The Value-Added Tax (Payments on Account) (Amendment) Order 2011, provisions of which will enter into force in June and in December 2011.
NZ's Key Slam's Labour's 'Fantasy' Tax Plans
1/26/2011
The New Zealand National government has slammed Labour leader Phil Goff's proposed tax package, with the Prime Minister John Key, pictured, saying Goff was in 'fantasyland.'
Payroll Tax Hikes Hit Canadians' Pockets
1/4/2011
The Canadian Taxpayers' Federation has warned, in a study published on December 28, that changes to the federal payroll tax system, and provinces' individual changes to their personal income tax regimes, will substantially hit the pockets of Canadian taxpayers regardless of their income.
IRS Calculates 2011 Tax Benefits
12/27/2010
The United States’ Internal Revenue Service has announced that, in 2011, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation.
China Plans Income Tax Reforms
12/14/2010
It has been disclosed that China’s Ministry of Finance and the State Administration of Taxation have a plan to reduce the incidence of individual income tax on low to middle incomes, sometime during next year.
Additional 700,000 To Pay Higher Rate Tax In UK
12/8/2010
In the UK, the Treasury has confirmed that it is to lower the threshold at which it levies its 40% income tax rate.
ECJ Backs Austria In Tax Case
11/1/2010
The European Court of Justice has decided that, in certain circumstances, the 'need to guarantee the effectiveness of fiscal supervision constitutes an overriding reason in the public interest capable of justifying a restriction on the exercise of the [EU guaranteed] freedoms of movement.'
UK Budget Said To Be Regressive
8/26/2010
The Institute of Fiscal Studies has announced the results of new research which concludes that the coalition government's emergency budget measures will hit the poorest taxpayers the hardest, contrary to the claims of Chancellor George Osborne.
Republicans Fail To Kill US Death Tax
7/23/2010
The latest attempt by Republican Senator Jim DeMin in the US Congress to permanently repeal estate tax, which is due to kick back in at pre-2001 levels next year, has stalled in the Senate.
Luxembourg Adopts Anti-Crisis Bill
7/16/2010
During a recent meeting, Luxembourg’s governing council adopted the draft law introducing tax measures relating to the financial and economic crisis.
Argentina Raises Tax Threshold By 20%
7/12/2010
Argentine finance minister, Amado Boudou, has announced that the minimum threshold for paying income tax will be increased by 20%.
UK Finance Bill Published
7/5/2010
The UK coalition government has published the first tranche of the 2010 Finance Bill, which implements key measures at the heart of last month's emergency budget.
Spanish Dividend Tax 'Discriminatory'
6/8/2010
The European Court of Justice has upheld the European Commission's contention that Spain's treatment of domestic and foreign shareholders under its participation exemption regime contravenes article 56 of the EC Treaty on the free movement of capital.
Lib Dems Unveil 'Radical' UK Tax Plan
4/12/2010
The UK Liberal Democrat Party has proposed raising the income tax threshold to GBP10,000 as part of a tax plan described by the party leadership as 'the biggest tax switch in generations.'
FBR Calls For Pakistan Tax Reform
4/7/2010
An article within the latest quarterly review published by the Pakistan Federal Bureau of Revenue looks at how Pakistan’s fiscal system may be reformed and modernized to introduce more broadly-based, equitable taxes.
UK Tories Pledge To Reverse NIC Hike
3/30/2010
The UK’s Conservative Party, as part of their election campaign, have pledged to reverse, in part, the Labour Government’s plans to increase national insurance contributions by 1% in April 2011.

 

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