JULY 10, 2012 | having difficulty Viewing this email? view THE online version

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Latest Tax News

 

France Eyes 75% Tax In 2013

French Budget Minister Jérôme Cahuzac has recently confirmed that the government is currently considering its plans for a 75% tax imposed on income in excess of EUR1m (USD1.3m), emphasizing that the measure will be in force in 2013.
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France, Luxembourg Challenged On Digital Book Tax Break

The European Commission has recently launched an infringement procedure against France and Luxembourg, highlighting the fact that the reduced value-added tax rates currently applied to digital books are potentially incompatible with European Union law.
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South Africa Introduces Tax Amendment Bills

The South African National Treasury has released, for public comment prior to their formal introduction in parliament, the draft 2012 Taxation Laws Amendment Bills which give effect to most of the 2012 Budget's tax proposals.
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Obama Repeats Call For Only Middle-Class Tax Cuts

United States President Barack Obama has repeated his call for the Bush tax cuts to be renewed only for 'middle class' Americans, and raised the expected chorus of protests from his Republican opponents.
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Luxembourg Withstanding Economic Crisis

Luxembourg's international financial centre has demonstrated resilience to the economic financial crisis and the nation can now boast a fiscal deficit substantially lower than its European peers, the International Monetary Fund has reported in its latest Article IV consultation.
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