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Hong Kong's Tax Revenue Dipped In 2015-16

by Mary Swire,, Hong Kong

Wednesday, May 4, 2016

Hong Kong's Commissioner of Inland Revenue, Wong Kuen-fai, has reported that total tax revenue collected in Hong Kong in the 2015-16 fiscal year, which ended on March 31, was HKD291.3bn, a drop of HKD10.6bn compared with the previous year. Read Full Story


US Bill Would Guarantee Small Businesses Equivalent Tax Cuts

by Mike Godfrey,, Washington

Thursday, April 28, 2016

Vern Buchanan, a senior member of the House of Representatives Ways and Means Committee, has introduced the Main Street Fairness Act to ensure that small businesses receive an equivalent tax rate cut in any future reform of corporate taxation. Read Full Story


US Accountants Urge Preservation Of Cash Accounting

by Mike Godfrey,, Washington

Wednesday, April 27, 2016

On April 26, the American Institute of Certified Public Accountants encouraged the US Senate Finance Committee, which was holding a hearing on business tax reform, to preserve the use of the cash method of accounting for tax purposes. Read Full Story


US Pass-Throughs Set Out Tax Reform Wish List

by Mike Godfrey,, Washington

Monday, March 21, 2016

The Parity for Main Street Employers business coalition has issued a new letter that calls on the US Congress to enact tax reform "that is comprehensive, restores tax rate parity for all businesses, and reduces or eliminates the double tax on corporate income by integrating the corporate and individual tax codes." Read Full Story


UK Landlords To Launch Legal Challenge Against New Taxes

by Robert Lee,, London

Tuesday, December 29, 2015

A group representing 250 UK landlords has announced that it will seek a Judicial Review of the Government's planned reform of buy-to-let tax reliefs. Read Full Story


Irish FinMin To Examine Tax Burden On Self-Employed

by Jason Gorringe,, London

Friday, August 21, 2015

Ireland's Finance Department is to undertake a review of the taxation of entrepreneurs and the self-employed, Fine Gael Member of Parliament Ray Butler has said. Read Full Story


IRS Reminds Firms Of Transaction Disclosure Rules

by Mike Godfrey,, Washington

Tuesday, May 26, 2015

The US Internal Revenue Service has reminded businesses in US territories, including individuals who are sole proprietors, that they must report cash transactions of more than USD10,000 received in a trade or business. Read Full Story


Hong Kong Filing Deadline Approaching

by Mary Swire,, Hong Kong

Wednesday, May 6, 2015

Hong Kong's Commissioner of Inland Revenue, Wong Kuen-fai, has reminded individual taxpayers to file their 2014/15 returns on time by June 4. Read Full Story


Chief Worry For US Small Business Is Tax Administration

by Mike Godfrey,, Washington

Wednesday, May 6, 2015

Small businesses' prime concerns about the US tax code are the challenges of achieving compliance, its complexity, and uncertainty, a Senate Small Business and Entrepreneur Committee field hearing heard on May 4. Read Full Story


Stamp Duty Boosts Hong Kong's Tax Revenue

by Mary Swire,, Hong Kong

Tuesday, May 5, 2015

The Inland Revenue Department set another annual record for tax collections in 2014-15, with receipts of HKD301.9bn up 24 percent compared with a year earlier. Read Full Story



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