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Insurance News

Singapore Urged To Enhance Tax Offering

by Mary Swire,, Hong Kong

Friday, January 5, 2018

Ernst and Young Solutions LLP, Singapore, has released its wish list for the Singapore Budget 2018, calling for reforms to sharpen the territory's competitiveness. Read Full Story


India Signs Three Further APAs During December

by Mary Swire,, Hong Kong

Tuesday, January 2, 2018

India entered into three more advance pricing agreements in December, with two unilateral agreements and a bilateral APA concluded with authorities in the United Kingdom. Read Full Story


New Zealand Finalizes Plans For Tax Advisory Panel

by Mary Swire,, Hong Kong

Wednesday, December 27, 2017

The New Zealand Government's new Tax Working Group will begin to meet starting next month, Revenue Minister Stuart Nash and Finance Minister Grant Robertson said December 20, 2017, announcing the appointment of members. Read Full Story


US Achieves Landmark Comprehensive Tax Reform

by Mike Godfrey,, Washington

Tuesday, December 26, 2017

US President Donald Trump has signed the Tax Cuts and Jobs Act into law. The bill will bring about sweeping changes to the US tax code for the first time in 30 years and slash the high corporate income tax rate to a competitive 21 percent. Read Full Story


US Congress Approves Tax Reform Bill

by Mike Godfrey,, Washington

Thursday, December 21, 2017

The United States House of Representatives has approved the final version of the Tax Cuts and Jobs Act, paving the way for President Trump to sign the changes into law, although this final act may be delayed until the New Year. Read Full Story


ING Group Loses 'Banking Services' VAT Appeal

by Jason Gorringe,, London

Tuesday, December 19, 2017

The UK Court of Appeal has dismissed an appeal brought by ING Group against rulings from the Upper Tribunal and the First-Tier Tribunal concerning the group's inability to recover VAT incurred on costs associated with providing what it considered was limited to a deposit-taking business for no consideration, which would fall outside the scope of VAT, and the UK tax authority, HM Revenue and Customs, instead arguing, successfully, that it was supplying exempt banking services, against which the taxpayer could not recover output tax. Read Full Story


Tax Experts Concerned By More Scottish Tax Divergence

by Jason Gorringe,, London

Monday, December 18, 2017

The Association of Taxation Technicians has expressed concern at new measures introduced in the draft Scottish Budget for 2018-19, warning lawmakers that it could introduce further complexity to already challenging income tax computations for Scottish taxpayers. Read Full Story


Contribution Of UK's 100 Largest Firms Grows

by Jason Gorringe,, London

Wednesday, December 6, 2017

The 100 largest UK companies – the so-called 100 Group – contributed GBP83.9bn (USD112.2bn) in tax to the UK economy in 2017 and supported around 6,800 UK suppliers, according to a new report prepared with their input. Read Full Story


Saudi Releases VAT Guide On Insurance

by Lorys Charalambous,, Cyprus

Thursday, November 30, 2017

Ahead of the implementation of value-added tax from January 1, 2018, Saudi Arabia has released guidance on rules relevant for the insurance sector. Read Full Story


HMRC Confirms Pension Fund VAT Change From 2019

by Jason Gorringe,, London

Wednesday, November 29, 2017

The UK tax authority has announced that planned changes to the way the UK taxes pension fund management services provided by regulated insurance companies will now take effect from April 1, 2019, having earlier confirmed there would be a delay. Read Full Story



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