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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

 


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

 


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

 


Indonesian Lawmakers Approve Tax Reform Plans

by Mary Swire, Tax-News.com, Hong Kong

Monday, October 18, 2021

Indonesia's lower house of parliament has signed off on a bill that provides for a two-stage hike to the headline value-added tax rate, the cancellation of a planned corporate tax cut, and the introduction of a new top rate of personal income tax. Read Full Story

 


Singapore To Implement Budget 2021 GST Reforms Unchanged

by Mary Swire, Tax-News.com, Hong Kong

Monday, November 1, 2021

Following a consultation exercise, the Inland Revenue Authority of Singapore has said the territory intends to go ahead with various important goods and services tax regime changes without accepting amendments proposed by stakeholders. Read Full Story

 


Hong Kong To Amend Tax Rules For Foreign-Source Passive Income

by Jason Gorringe, Tax-News.com, London

Monday, November 1, 2021

The Hong Kong Government has issued a statement committing to amend its tax law with regards the tax exemption for foreign source passive income from 2023, to ensure the territory does not end up placed on the EU's tax blacklist of non-cooperative territories. Read Full Story

 


Netherlands Announces 'Modest' 2022 Budget

by Ulrika Lomas, Tax-News.com, Brussels

Monday, October 4, 2021

The Dutch Government has announced changes aimed at improving the tax system in its 2022 Tax Plan, released on September 21. Read Full Story

 


Hong Kong Discusses US Termination Of Shipping Tax Pact

by Mary Swire, Tax-News.com, Hong Kong

Wednesday, August 25, 2021

The Hong Kong Government has said it is looking at potential measures to support the shipping industry following the decision by the US Government to terminate the two territories' agreement that exempted shipping industry income from tax. Read Full Story

 


Indonesia To Shoulder Retailers' VAT On Rental Costs

by Mary Swire, Tax-News.com, Hong Kong

Tuesday, August 10, 2021

The Indonesian Government has legislated to shoulder the value-added tax liability of retail businesses on rent and service charges due between August and October 2021. Read Full Story

 


Mexico Publishes Second Report On Industry-Average Tax Burdens

by Mike Godfrey, Tax-News.com, Washington

Friday, August 6, 2021

On August 1, 2021, Mexico's federal tax authority released a second report on the effective corporate tax paid by large businesses in various economic sectors. Read Full Story

 

 

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