Politics & Economics News

US Senators Urge 'Fairness' Change To Capital Gains Tax Calculations

by Mike Godfrey, Tax-News.com, Washington

Thursday, August 8, 2019

A group of 21 Republican members of the US Senate have signed a letter to the Treasury Secretary urging him to amend how capital gains tax liability is calculated. Read Full Story

Hungarian Lawmakers To Decide On Tax Cuts Plan

by Ulrika Lomas, Tax-News.com, Brussels

Friday, July 5, 2019

Hungary's 2020 Budget law is before parliament for approval. Most tax-related proposals would become effective from the start of 2020. Read Full Story

Hungary Announces Tax Cut Plan

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, June 5, 2019

On May 31, 2019, the Hungarian Ministry of Finance announced numerous tax cuts as part of an economic growth plan. Read Full Story

South African Carbon Tax Introduced On June 1

by Lorys Charalambous, Tax-News.com, Cyprus

Wednesday, June 5, 2019

On May 26, 2019, South African President Cyril Ramaphosa signed into law the Carbon Tax Act No 15 of 2019, which came into effect on June 1, 2019, as announced by the Minister of Finance in the 2019 Budget. Read Full Story

IMF Advises Luxembourg On Coping With International Tax Changes

by Ulrika Lomas, Tax-News.com, Brussels

Friday, May 31, 2019

The IMF has welcomed Luxembourg's efforts to meet international tax standards but cautioned that international tax reform could hit the country's tax base. Read Full Story

France To Flesh Out Tax Cut Plans In June

by Ulrika Lomas, Tax-News.com, Brussels

Friday, May 10, 2019

French Prime Minister Edouard Philippe announced on April 30, 2019, that plans for reductions in personal and corporate income tax will be released by the Government in June 2019. Read Full Story

France May Cut Tax In Response To Protests

by Ulrika Lomas, Tax-News.com, Brussels

Monday, April 15, 2019

French Prime Minister Edouard Philippe has said that France should prioritize tax cuts following the conclusion of a three-month national consultation on the Government's economic and tax policies. Read Full Story

FASB Issues New Accounting Rules For Audiovisual Content Producers

by Mike Godfrey, Tax-News.com, Washington

Thursday, March 14, 2019

On March 6, 2019, the Financial Accounting Standards Board issued an Accounting Standards Update that is intended to help organizations align their accounting for production costs for films and episodic content produced for television and streaming services. Read Full Story

Brexit Withdrawal Agreement Put To UK Lawmakers

by Jason Gorringe, Tax-News.com, London

Friday, November 23, 2018

An agreement has been reached between the European Union and the United Kingdom on Brexit, which, if approved by UK lawmakers, would establish a transition period, until the end of 2020, during which EU law would continue to apply to the UK. Read Full Story

EU Tells Italy To Revise 2019 Budget Plan

by Ulrika Lomas, Tax-News.com, Brussels

Friday, October 26, 2018

On October 23, 2018, the European Commission issued a request to the Italian Government that it revise its draft budgetary plan for 2019 because it breaches European Union fiscal rules. Read Full Story

OECD Releases Mining Sector BEPS Guidance For Developing States

by Ulrika Lomas, Tax-News.com, Brussels

Friday, October 26, 2018

The OECD and the Intergovernmental Forum on Mining, Minerals, Metals, and Sustainable Development have finalized three practice notes intended to support resource-rich developing countries to protect their tax bases from erosion and profit shifting. Read Full Story

Spain To Press Ahead With Digital Tax

by Ulrika Lomas, Tax-News.com, Brussels

Friday, October 12, 2018

The Spanish Government will proceed with a proposal to introduce a digital services tax along similar lines to the European Commission's proposed interim digital tax. Read Full Story