IMF Report Recommends Policy Changes for Germany
On 23 May 2022 the IMF published a report following discussions with Germany under Article IV of the IMF’s articles of agreement. Germany’s economic recovery was gathering strength before the Ukraine war began, but the war has impacted the
See MoreIMF Report Considers the Economic Situation in Italy
On 19 May 2022 the IMF issued a concluding statement following discussions with Italy under Article IV of the IMF’s articles of agreement. By the end of 2021 Italy’s economy had recovered to a level close to its pre-pandemic output,
See MoreOECD: Use of Energy Taxes to Strengthen Developing Country Finances
On 25 January 2021 the OECD issued a document entitled Taxing Energy Use for Sustainable Development: Opportunities for energy tax and subsidy reforms in selected developing and emerging economies. The report looks at energy taxation in a sample
See MoreCzech Republic: The Chamber of Deputies passes anti-crisis tax package for second time
On 16 June 2020, the Chamber of Deputies passed the anti-crisis tax package for the second time aimed at mitigating the adverse economic effects of the pandemic on entrepreneurs and companies. The package is set to be signed by the president and
See MoreArgentina: Treasury Minister announces tax reform plan
The Treasury Minister, Nicolas Dujovne, on October 31, 2017, announced a tax reform plan. This proposed tax reform includes tax procedure law, corporate income tax reduction, criminal law, individual income tax, social security contributions,
See MoreTanzania: 2017 Budget effective from July 1, 2017
The Minister for Finance and Planning (MoFP) on 8 June 2017, issued to the National Assembly the estimates of government revenue and expenditure for 2017. The government plans to organise and spend TZS 31,712.0 billion in the 2017/18 budget. The
See MoreBulgaria: Amendments to Excise Duties and Tax Warehouses Act gazetted
The amendments to the Excise Duties and Tax Warehouses Act (EDTWA) have been gazetted on 6th December 2016. An overview of the amendments is given below: Administrative simplifications of various procedures Starting from 1st January 2017, a
See MoreBulgaria: Amendments to Local Taxes and Duties Act gazetted
The amendments to the Local Taxes and Excise Duties Act have been gazetted on 6th December 2016 in the Official Gazette. The proposal of a tax bill has been submitted to the National Assembly on 17th October 2016 to amend various tax
See MoreBulgaria: Tax bill submitted to parliament
The Council of Ministers has submitted a proposal on 17th October 2016 to the National Assembly to amend various tax acts. The amendments are about cash payment changes, excise duty changes, local tax changes and changes to the accountant act that
See MoreBulgaria: Budget for 2016 published
The Finance Ministry (MoF) has published the Budget for 2016 on 26th October 2015. The MoF included the following measures in this budget: The income tax rate, withholding tax rate, and VAT rate will remain unchanged for 2016 through
See MoreCzech Republic – Excise duty on diesel and VAT on electronic services
Changes to the tax procedure and rules income tax law have passed through the first reading. At the third reading, the Chamber of Deputies has approved the following things: By re-initiating “green” diesel oil, an amendment has used to the
See MoreUkraine: Certain corporate income tax incentives to be abolished
The Ukraine parliament adopted the Law No.4309A, on 31 July 2014 which was issued on 21 July 2014, with eliminating certain corporate income tax incentives. The main abolished incentives are summarized below: limiting privileged corporate income
See MorePhilippines Business Requests Elimination of Aviation Fuel Tax
The Joint Foreign Chambers of the Philippines (JFC) have requested that the Government cuts the excise tax on aviation fuel for international carriers, after a Supreme Court (SC) decision to cancel refunds had effectively imposed higher taxation. In
See MoreCroatia: New excise duty imposed on energy products
Croatia has recently passed a number of new laws and regulations in connection with its entry to the European Union (EU). On 23 July 2013, the Ordinance regulating excise duty on energy products entered into force in Croatia. With its entry to the
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