tax reform 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

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

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

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

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