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Tax-News.com carries topical headlines and features on international tax, legal, economics, business and investment issues.

 

 

Latest Tax-News Special Feature

 

Cyprus Shipping Review 2012/13

The Cypriot shipping industry has experienced strong growth since the creation of the shipping registry in 1963 and several ingredients have combined to make Cyprus one of the most important locations for a variety of maritime-related activities, including a benign tax regime, modern financial and legal infrastructure, low operating costs and geographical location at the junction of three continents.

 

As one of only two 'open' registries in the European Union (EU), it is estimated that the Cypriot fleet accounts for a quarter of all the ships registered in the EU; and the Cyprus shipping registry is the tenth-largest in the world. As a result, the sector makes a substantial contribution to the Cypriot economy, with recent figures indicating that shipping accounts for about 5% of gross domestic product.

 

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Latest Tax News

 

Tax Case Prompts Review Of India's Investment Agreements

The government of India is delaying entering into talks on foreign investment protection with other countries, due to Vodafone's plans to launch international arbitration proceedings over the country's intention to tax the company retrospectively.
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Tanzania Increases Tax Take From Gold Mining

The Tanzanian government has been urged to adhere to existing agreements with gold mining companies operating in the country rather than implement the measures included in mining legislation passed in 2010.
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Latvia May Unflatten Personal Income Tax

The President of Latvia, Andris Berzins, has expressed his support for a progressive personal income tax, although he also warned that an excessive rate might discourage people from working. He also expressed opposition to progressive changes in the estate tax.
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Caribbean Urged To Stand Ground Over Tax, Regulation

At a two day international conference on the financial services sector in St. John's, Antigua, a leading international expert has urged Caribbean nations to stand their ground over mounting international pressure in the area of tax and regulation.
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Hungary Defends Tax Strategy

Hungary's Economy Minister has confirmed that consumption taxes will rise and income tax will decrease, as part of a strategy to keep the state budget deficit below 3% of gross domestic product.
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