UK: Statistics on Venture Capital Trusts
On 21 January 2022 the UK released statistics on Venture Capital Trust (VCT) tax relief for the year 2020/2021. The annual statistics on VCT tax relief help the UK government to monitor the cost and effectiveness of the tax relief, which may be
See MoreSlovak Republic: OECD considers reforms to strengthen the recovery and future growth
On 13 January 2022 the latest OECD Economic Survey of the Slovak Republic was issued. The report notes that Slovakia’s recovery plan, supported by the EU, can give a boost to the economic recovery and growth, although there are downside
See MoreOECD: Measuring Tax Support for R&D and Innovation
On 9 December 2021 the OECD published the latest research and development (R&D) tax incentives database report. This was accompanied by the 2021 update of the R&D Tax Incentives database and a series of R&D tax incentive country
See MoreIMF Report on India’s Economy
An IMF country focus on 12 November 2021 indicates that India’s economy is preparing to rebound following the setbacks inflicted by the second wave of Covid-19 infections. India’s substantial policy responses to the pandemic, with economic
See MoreUK: New Tax Regime for Asset Holding Companies
The UK budget announcements on 27 October 2021 proposed that legislation would be included in the Finance Bill 2021/22 to set up a new tax regime for qualifying asset holding companies (QAHCs). This change is part of a broader review of the UK
See MoreUN: Tax Committee Discusses Interaction of Investment Agreements and Tax
In its meetings from 19 to 28 October 2021 the UN Committee has covered, among other issues, the interaction of tax, trade and investment agreements. A Note on the Interaction of Tax Trade and Investment Agreements was prepared by the UNDESA
See MoreTurkey: Parliament members submit a new Tax Bill to the Parliament
On 1 October 2021, Turkish Parliament members have submitted a new Tax Bill to the Parliament which includes tax filing periods, tax exemptions, and incentives. The key corporate tax measures of the Bill are: In the reduced corporate tax
See MoreUK: Patent Box Relief Statistics Updated
Under the patent box legislation in the UK companies can enjoy a lower rate of UK corporation tax on their profits earned from qualifying patented inventions and some other equivalent types of intellectual property. The patent box relief was
See MoreNorway releases proposed amendment to the petroleum taxation system
On 31 August 2021, the government of Norway has issued a release proposing amendment to the petroleum taxation system. Under the amendment, the Government is proposing to revise the special petroleum tax system as of 2022, replacing the rules on
See MoreOECD: Research and Development Tax Incentives and Effective Tax Rates
On 28 July 2021 the OECD published on its website tax working paper no 54 entitled Corporate Effective Tax Rates for R&D: The case of expenditure-based R&D tax incentives, written by Ana Cinta González Cabral, Silvia Appelt and Tibor
See MoreOECD: Remote working for tax administrations after the pandemic
On 19 July 2021 the OECD’s Forum on Tax Administration published a document entitled Tax Administration: Towards Sustainable Remote Working in a post COVID-19 Environment. During the pandemic many tax administrations needed to introduce remote
See MoreIMF: Seizing the opportunity for growth after the pandemic
On 20 July 2021 an IMF blog discussed how to seize the opportunity to achieve economic growth following the pandemic. The IMF blog notes that since March 2020 governments throughout the world have spent around USD 16 trillion to support
See MoreArmenia: Parliament extends the tax incentives for exporters
On 26 May 2021, the Parliament of Armenia has approved a bill on extending the tax incentives for exporters to 31 December 2029. The provided incentive was scheduled to 31 December 2021 for resident companies that are exclusively engaged in exports
See MoreUK: Statistics for Funds raised under EIS, SEIS and SITR
On 27 May 2021 the UK government published statistics for the Enterprise Investment Scheme (EIS), the Seed Enterprise Investment Scheme (SEIS) and Social Investment Tax Relief (SITR). The latest statistics set out the amount of funds raised by
See MoreIMF: Report looks at fiscal policy in Hungary
On 3 May 2021 the IMF issued a concluding statement following a consultation with Hungary under Article IV of the IMF’s articles of agreement. Following a 5% contraction in output during the pandemic in 2020 the economy is expected to recover
See MoreOECD: Tax Policy Reforms 2021
On 21 April 2021, the OECD published Tax Policy Reforms 2021 giving an overview of the tax policy of around 70 jurisdictions, including the OECD and G20 countries and some members of the Inclusive Framework on base erosion and profit shifting
See MoreOECD: Policies for a Climate Neutral Industry
On 15 April 2021 the OECD issued a Science, Technology and Industry Working Paper looking at lessons to be learned from the Netherlands on policies for a climate neutral industry. The approach taken by the Netherlands combines a commitment to
See MoreIMF Blog Looks at Securing a Green Recovery
In an IMF blog post of 15 April 2021 the IMF Director General looks at policies to secure a green recovery. The blog notes that following the period of disruption due to the pandemic a few economies, led by the United States and China, are
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