tax reform News

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

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

OECD Receives Backing For Historic International Tax Overhaul

by Ulrika Lomas, Tax-News.com, Brussels

Friday, August 6, 2021

The OECD has said 131 countries and jurisdictions have put their name to an international agreement on an overhaul to tax rules for the digitalized economy and for large multinational businesses. Read Full Story

Hong Kong Issues 2020-21 Tax Returns

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

Tuesday, April 6, 2021

On April 1, 2021, the Hong Kong Inland Revenue Department began issuing profits tax, property tax, and employer's returns for the year of assessment 2020-21. Read Full Story

Hong Kong Adopts Law To Cut Stamp Duty Rates

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

Friday, March 19, 2021

Hong Kong has passed legislation to abolish the doubled ad valorem stamp duty rates applicable to non-residential property transactions with effect from November 26, 2020. Read Full Story

EU Committed To Boosting Tax Take From Digital Economy

by Ulrika Lomas, Tax-News.com, Brussels

Friday, March 19, 2021

The EU is willing to move ahead with its own proposals on taxing the digital economy if an agreement is not reached at an international level, according to the current EU Council presidency. Read Full Story

Hong Kong Announces Tax Relief In 2021-22 Budget

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

Wednesday, March 3, 2021

Hong Kong will grant taxpayers a waiver of up to HKD10,000 (USD1,290) of profits tax, salaries tax, and tax under personal assessment, the territory announced in its 2021-22 Budget. Read Full Story

Irish VAT Rate Cut To Be Reversed In March

by Jason Gorringe, Tax-News.com, London

Monday, February 15, 2021

The Irish headline rate of VAT will return to 23 percent from March, having been temporarily reduced in response to the COVID-19 pandemic. Read Full Story

MEPs Call For EU Carbon Border Adjustment Mechanism

by Ulrika Lomas, Tax-News.com, Brussels

Monday, February 15, 2021

Lawmakers sitting on an EU parliament climate committee have called for the introduction of a carbon border adjustment mechanism. Read Full Story

Hong Kong Provides Tax Concessions For Carried Interest

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

Wednesday, March 3, 2021

The Hong Kong Government has gazetted legislation to provide tax concessions for carried interest distributed by eligible private equity funds operating in Hong Kong. Read Full Story

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