tax News

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

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