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UK Publishes Draft Tax Framework For Business
23 February 2010
The UK government published on February 22 a draft Tax Framework for business, intended to provide greater certainty for large businesses about the government's approach to the development of tax policy.
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Brussels Advocates Introduction Of Financial Transactions Tax
25 February 2010
In its latest economic strategy document, the European Commission has urged European Union member states to consider the introduction of taxes levied on financial transactions in order to increase their revenue.
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Hong Kong Budget Includes Increased Property Taxes
25 February 2010
Hong Kong’s Financial Secretary, John C Tsang, has delivered a budget for the 2010-11 fiscal year that includes a relief package to build on the economic recovery, additional taxes to reduce volatility in the property market, and further measures to strengthen the competitiveness of the asset management industry.
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Greece: Eurogroup May Demand Additional Fiscal Measures
23 February 2010
Greece is to implement additional budgetary measures and to introduce new taxes if the government’s recently announced austerity programme proves insufficient in combating the country’s economic crisis, European Union finance ministers have warned.
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Guernsey Moves To Protect QROPS Investors
19 February 2010
Qualifying Registered Offshore Retirement Schemes regulation in Guernsey looks set to be tightened up in order to give greater protection to investors from unregulated advisors.
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Austria Gives Go-Ahead To Bank Tax
24 February 2010
Following the recent banking summit, and despite bitter opposition from its banks, the Austrian government has announced its decision to introduce a bank tax in Austria.
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Irish Business Tax Proposals No Silver Bullet, Says CPA Ireland
22 February 2010
The Institute of Certified Public Accountants in Ireland has questioned the wisdom of the report published by the Public Accounts Committee on February 17, which calls for a change in company law to make company directors personally liable for the non-payment of certain types of taxes.
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UK Tories Attack Government 'Death Tax' Proposal
19 February 2010
The UK's main opposition party, the Conservatives, has claimed that inheritance tax proposals put forward by the Labour government to fund elderly care would hit 70% of the country's population.
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PM Denounces St Kitts' Inclusion On French Blacklist
22 February 2010
St Kitts and Nevis Prime Minister, Denzil Douglas, has denounced the Federation’s placement on France’s new blacklist of non-cooperative territories, saying that efforts to meet international compliance standards is like "working towards a moving target".
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Singapore's Budget To Raise Productivity With Tax Incentives
23 February 2010
Singapore’s 2010 budget, presented by the Finance Minister, Tharman Shanmugaratnam, looked to increase productivity in the economy by tax incentives to both companies and individuals, while providing additional protection for lower and middle income groups.
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US Senators Unveil Job Creation Tax Cut Bill
12 February 2010
A bipartisan measure has been introduced in the United States Senate to provide a payroll tax cut for business that hire individuals who have been unemployed for more than 60 days.
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Liechtenstein Pledges Swift Implementation Of Proposed Tax Reform
16 February 2010
At this year’s opening of Parliament, Hereditary Prince Alois von und zu Liechtenstein outlined future challenges facing the principality, notably the transformation of the country’s financial center through negotiation and implementation of international tax agreements, and through overhauling the existing tax system.
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No Increase In Net Taxation In South African Budget
19 February 2010
South Africa’s Finance Minister, Pravin Gordhan, in his budget speech for the 2010/11 fiscal year, warned that taxes may have to be raised in the future to fund the country’s public spending commitments, but the government does not propose to raise the overall tax burden this year.
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ATO Concentrates On Tax Payments By Larger Companies
22 February 2010
In a speech to the Seventh Annual Corporate Tax Summit, Jim Killaly, a Deputy Commissioner of the Australian Taxation Office, outlined its perspectives on the large business sector in Australia that, with around 1,100 corporate groups having a turnover of more than AUD250m, accounts for 36% of total tax revenue.
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China To Enforce Tax And Registration System For E-Commerce
09 February 2010
In accordance with 'Internet Information Services' (State Council Order No. 292), the Beijing Bureau of Industry and Commerce, responsible for business registration and regulation in China, said it wishes to revive 2008 plans to register and tax e-commerce in order to 'standardize its regulation and combat illegal Internet activities, promoting the integrity of the system'.
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Russia Explores More Private Sector Incentives
17 February 2010
Russian Vice-Premier and Minister of Finance, Alexei Kudrin, has supported President Dmitry Medvedev's call for more innovation in the Russian private sector with further fiscal proposals to act as incentives. Medvedev had asked private companies to present proposals on innovative breakthroughs within two months.
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OECD Releases Draft Documentation For Cross-Border Tax Claims
12 February 2010
The Organisation for Economic Co-operation and Development has released for public comment draft documentation and an implementation package for implementing a streamlined procedure for portfolio investors to claim reductions in withholding rates pursuant to tax treaties or domestic law in the source country.
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