Vietnam Clarifies Tax Reductions for SMEs
On 6 August 2012 it was published that, in a decree to take effect on September 20, 2012, the Vietnamese government has confirmed that small and medium-sized enterprises (SMEs) will be given a 30% reduction in corporate income tax (CIT) this
See MoreUK Budget Delivers Tax Cuts
The UK has delivered a Budget that unashamedly backs businesses, slashing the top rate of personal income tax and accelerating corporate tax cuts. Currently charged at 50% on all income over GBP150, 000, from April, 2013 the rate will drop to
See MoreAnnulment of contractors’ tax by US
The United States Congress has finally approved a legislation to repeal the 3% withholding tax on payments made to contractors providing services to government entities. The bill was passed in the House of Representatives on a bipartisan vote. When
See MoreCorporate Tax Cut in Thailand
To cope with the higher costs arising from its policy of increasing the country’s national daily minimum wage the new government of Thailand has re-confirmed its intention to reduce the rate of corporate income tax. The government expressed
See MoreSwitzerland Amends Bond Withholding Tax
On 29 August 2011 it was reported that changes in withholding tax should allow Swiss companies to issue their bonds under competitive conditions in Switzerland, according to the Swiss federal government, which said that the changes would also apply
See MoreLower Corporate Taxes Committed by the South Korean Government
The Finance Ministry of South Korea agreed to the government’s long-standing plan to reduce corporate taxes from next year. The government is expected to lower the rate of corporate tax on businesses from the current 22% to 20% for a taxable
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