Latest News
BVI To Launch New Tax Administration Platform
by Jason Gorringe, Tax-News.com, London
Wednesday, June 22, 2022
The British Virgin Islands' Inland Revenue Department is to introduce a new platform from early next year to automate the administration of all taxes and licenses. Read Full Story
Switzerland To Share Tax Data With 12 More States
by Lorys Charalambous, Tax-News.com, Cyprus
Wednesday, June 22, 2022
At its meeting on May 18, 2022, the Swiss Federal Council approved the dispatch on the introduction of the automatic exchange of information on financial accounts (AEOI) with 12 other partner countries. Read Full Story
Guernsey To Delay Tax Reform Debate To Explore Corporate Tax Options
by Jason Gorringe, Tax-News.com, London
Friday, April 29, 2022
The Guernsey Government on April 26, 2022, announced that a parliamentary debate on tax reform, scheduled for July, will now be delayed until the end of the year, to allow time for consideration of corporate tax options. Earlier, Guernsey's Policy and Resources Committee proposed that the territory could implement a goods and services tax to buoy the territory's finances. Read Full Story
Bermuda Legislates For Budget 2022's Payroll Tax Changes
by Jason Gorringe, Tax-News.com, London
Monday, March 21, 2022
Bermuda has tabled the Payroll Tax Amendment and Validation Bill 2022, to give effect to the payroll tax measures announced in the territory's recent Budget. Read Full Story
Cambodia Again Delays Capital Gains Tax Plans
by Mary Swire, Tax-News.com, Hong Kong
Monday, March 21, 2022
Authorities in Cambodia have announced a further two-year delay to the implementation of a capital gains tax. Read Full Story
OECD Releases E-Commerce VAT Toolkit For Asia-Pac States
by Ulrika Lomas, Tax-News.com, Brussels
Monday, March 21, 2022
On March 10, the OECD released a new VAT Digital Toolkit for Asia-Pacific (APAC) nations. The toolkit is intended to support local tax authorities to better collect value-added tax on e-commerce activities. Read Full Story
Singapore Adds To Guidance On ICAP Participation
by Mary Swire, Tax-News.com, Hong Kong
Monday, March 21, 2022
The Inland Revenue Authority of Singapore (IRAS) has issued guidance for taxpayers on accessing the International Compliance Assurance Programme, a voluntary risk assessment and assurance program. Read Full Story
Singapore Targets A More Progressive Tax Regime In 2022 Budget
by Mary Swire, Tax-News.com, Hong Kong
Monday, March 21, 2022
Singapore has announced personal income tax hikes and higher wealth taxes on the territory's wealthiest individuals, as well as plans to ramp up the territory's carbon tax, in its newly released Budget. Read Full Story
Cyprus Receives EU Approval For Angel Investor Tax Breaks
by Jason Gorringe, Tax-News.com, London
Wednesday, February 16, 2022
The European Commission has approved a Cypriot scheme involving the grant of tax breaks to private investors – both natural persons and corporate investors – who invest into early-stage, innovative SMEs. Read Full Story
US IRS To Pause Some Tax Enforcement Proceedings
by Mike Godfrey, Tax-News.com, Washington
Wednesday, February 16, 2022
The US Internal Revenue Service (IRS) has suspended the use of more than a dozen additional letters, including the mailing of automated collection notices, normally issued when a taxpayer owes additional tax and the IRS has no record of a taxpayer filing a tax return. Read Full Story
Costa Rica Launches New Tax Advice Callback Service
by Mike Godfrey, Tax-News.com, Washington
Wednesday, February 16, 2022
On February 1, 2022, Costa Rica's federal tax authority launched a new callback service for taxpayers seeking guidance. Read Full Story
Turkey Cuts CIT For Manufacturing Firms, Exporters
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, February 16, 2022
The Turkish Government has recently enacted Law No. 7,351, which provides corporate tax reliefs for exporters and manufacturing businesses. Read Full Story
OECD Reports Solid Progress On BEPS Action 5 And 14
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, February 16, 2022
The OECD/G20 Inclusive Framework on BEPS has published the outcome of more reviews into territories' preferential tax regimes and on tax dispute resolution through the Mutual Agreement Procedure. Read Full Story
UK Delays Overhaul To Tax Non-Compliance Penalties
by Jason Gorringe, Tax-News.com, London
Thursday, January 20, 2022
HM Revenue and Customs is reforming late-filing and payment penalties to make them fairer and more consistent across taxes. The first stage of these reforms was set to come into effect early this year. However, on January 13, 2022, HMRC postponed the effective dates by nine months to one year. Read Full Story
Switzerland Publishes Review Of 2021 Tax Progress
Thursday, January 20, 2022
As part of its commitment to fighting cross-border tax evasion and profit shifting, Switzerland sent information on over 3m financial accounts in 2021, according to a new review of the Swiss financial center by the State Secretariat for International Financial Matters. Read Full Story
Singapore Expected To Hike Carbon Tax In 2022 Budget
by Mary Swire, Tax-News.com, Hong Kong
Thursday, January 20, 2022
Singapore's Minister of Finance has said Singapore will set out plans to hike its carbon tax in the 2022 Budget. Read Full Story
Hong Kong Reviewing Tax-Privileged Retirement Products
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, January 5, 2022
Authorities in Hong Kong have launched a review into two tax-deductible retirement savings products: Qualifying Deferred Annuity Policies (QDAP) and Mandatory Provident Fund (MPF) Tax-Deductible Voluntary Contributions (TVC). Read Full Story
IRAS Updates GST Guidance On Impending Media Sales Changes
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, January 5, 2022
The Inland Revenue Authority of Singapore has released an update to its goods and services tax guide for the advertising industry. Read Full Story
Ecuador Introduces Amnesty And Taxes On Assets
by Mike Godfrey, Tax-News.com, Washington
Wednesday, January 5, 2022
Legislation has been enacted in Ecuador to introduce new taxes on companies and wealthy individuals, to fund government efforts during the COVID-19 pandemic. Read Full Story
EU Finance Ministers Agree Landmark VAT Rate Rule Changes
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, January 5, 2022
EU finance ministers have agreed an update to the rules governing value-added tax rates for goods and services. Read Full Story
Philippines DOF Says Wealth Tax Plan Would Be Self-Defeating
by Mary Swire, Tax-News.com, Hong Kong
Monday, December 6, 2021
The Philippines Department of Finance has issued a statement warning against the introduction of a new tax on the super wealthy. Read Full Story
Indonesia Clarifies Tax Measures In Tax Reform Law
by Mary Swire, Tax-News.com, Hong Kong
Monday, December 6, 2021
The Indonesian Government has detailed its plans for a new carbon tax mechanism and a new tax amnesty scheme. Read Full Story
Singapore Gazettes Legislation For 2021 Budget Changes
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, November 23, 2021
The Income Tax (Amendment) Bill 2021 was published in Singapore's Official Gazette on November 16, 2021, following approval earlier by Singapore's President. Read Full Story
UK Announces Tax Breaks For Businesses In 2022 Budget
by Jason Gorringe, Tax-News.com, London
Monday, November 1, 2021
With the UK corporate tax rate set to rise 25 percent from April 2023, the UK Government has announced various tax proposals that are intended to support businesses and the UK economy, in the newly released 2022 Budget. Read Full Story
- 19/10/2021 Indonesian Lawmakers Approve Tax Reform Plans »
- 14/10/2021 Singapore To Implement Budget 2021 GST Reforms Unchanged »
- 07/10/2021 Hong Kong To Amend Tax Rules For Foreign-Source Passive Income »
- 01/10/2021 EU Seeks Input On New Withholding Tax Directive »
- 27/09/2021 Belt And Road Forum Agrees Digital Tax Admin Agenda »
- 23/09/2021 Netherlands Announces 'Modest' 2022 Budget »
- 13/09/2021 Singapore To Allow Taxpayers Longer To Report TP Adjustments »
- 07/09/2021 EU To Table A Digital Tax Proposal In October »
- 02/09/2021 China's New Urban Maintenance And Construction Tax Law In Force »
- 25/08/2021 Colombia Enacts Decree To Support Struggling Firms »
- 19/08/2021 Hong Kong Discusses US Termination Of Shipping Tax Pact »
- 13/08/2021 US Lawmakers Approve New Cryptoassets Reporting Rules »
- 09/08/2021 Indonesia To Shoulder Retailers' VAT On Rental Costs »
- 05/08/2021 Mexico Publishes Second Report On Industry-Average Tax Burdens »
- 28/07/2021 Wyden Takes Aim At US Pass-Through Income Tax Break »
- 22/07/2021 Asia-Pac's Tax Take Dropped, Even Before COVID-19: Report »
- 16/07/2021 Hong Kong Sets Out Response To Int'l Tax Reform Plans »
- 09/07/2021 Thailand Explains New VAT Rules For B2C Electronic Services »
- 06/07/2021 OECD Receives Backing For Historic International Tax Overhaul »
- 28/06/2021 Firms Given More Time To Seek New Zealand's R And D Tax Perks »
- 28/06/2021 BVI Says New Global Tax Rules Should Appreciate Offshore IFCs »
- 21/06/2021 Hong Kong Explains COVID-19 Reliefs For Tax Debtors »
- 15/06/2021 Hong Kong, Georgia Tax Deal To Enter Into Force »
- 15/06/2021 Mauritius Announces New Tax Reliefs In 2021-22 Budget »
- 09/06/2021 EFTA States' Tax Rulings Receive The All-Clear »
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