UK: Spring Statement to be announced on 23 March
The Chancellor of the Exchequer will deliver the Spring Statement on 23 March 2022. The Spring Statement is normally a relatively low-key summary of the state of the UK economy; but owing to various adverse economic circumstances the 2022 Spring
See MoreOECD: Taxation of Part Time Work
On 14 March 2022 the OECD published on their website a working paper entitled Taxation of Part-time Work in the OECD. The working paper sets out a summary, with detailed data, of the taxation of part-time work in OECD countries, including
See MoreWorld Bank Economic Memorandum on Albania
On 11 February 2022 the World Bank published a document entitled: Albania Country Economic Memorandum: Strengthening the Sustainability of Albania’s Growth Model. The document looks at Albania’s economic challenges, examines progress with
See MoreUK: Employee Share Scheme Statistics for 2019/20
On 24 June 2021 the UK published the 2019/2020 statistics on employee share schemes. Employee Share Schemes (ESS) are available to companies that want to award shares directly to their employees or to grant them options to buy shares. There
See MoreOECD: Taxing Wages 2021
On 29 April 2021 the OECD issued the annual publication Taxing Wages 2021. This publication sets out details of taxes paid on wages in the OECD countries, covering personal income taxes and social security contributions paid by employees; social
See MoreMongolia: Parliament approves State Budget Law for 2021
The State Budget Bill for the fiscal year of 2021 was adopted at the State Great Khural’s plenary session of 13 November 2020 along with its appropriation bills. On 25 November 2020, the President of Mongolia, Battulga, refused 2021 State Budget
See MoreSweden: Parliament approved Budget for 2021
On 17 December 2020, the Swedish Parliament (Riksdag) has approved Budget for fiscal year 2021. The Budget includes the following key tax measures: Temporary tax reduction of 3.9% of the acquisition value of machinery and equipment
See MoreBulgaria: Cabinet approves draft Budget Bill 2021
On 28 October 2020, the Bulgarian Cabinet approved the 2021 Budget bill drafted by the Finance Ministry at a Cabinet meeting. The President made clear that this is not an electoral Budget. This is a Budget for after the elections, so that there are
See MoreOECD: Ageing and Fiscal Challenges Across Levels of Government
A paper contributing to OECD Fiscal Federalism Studies published on 27 October 2020 looks at the fiscal challenges across levels of government resulting from an ageing population. Personal Tax Revenue and an Ageing Population Some tax systems
See MoreCanada: CRA extends payment deadline of income tax return
On 27 July 2020, the Canada Revenue Agency (CRA) announced that payment deadline for the year 2020 of the income tax returns, including installments for legal entities, trust, and individual is to be extended from 1 September 2020 to 30 September
See MoreTanzania: Budget 2020 proposes tax relief to employees
On 11 June 2020, the Finance Minister proposed amendments in the Income Tax Act, while tabling the budget 2020/2021 in the Parliament. The Minister is proposed to increase the salary of the employee that will increase the income threshold from
See MoreOECD: Taxing Wages 2020
On 30 April 2020 the OECD issued the annual publication Taxing Wages 2020. This publication sets out details of taxes paid on wages in the OECD countries, covering personal income taxes and social security contributions paid by employees; social
See MoreFrance: Tax authority announces exceptional measures to support businesses during COVID-19
On 6 April 2020, the French tax authorities announced exceptional tax measures in response to coronavirus outbreak. These are: The corporate income tax installment payment of March 15 could be delayed until 15 June for all companies. Companies
See MoreCOVID-19: US passes Coronavirus Aid, Relief, and Economic Security (CARES) Act
On 19 March 2020, the US Senate Finance Committee submitted proposals for the third round of legislative measures in response to the economic impact of the coronavirus disease (COVID-19) pandemic. The Coronavirus Aid, Relief, and Economic Security
See MoreDenmark: Government announces a package of tax measures due to COVID-19 impact
On 10 March 2020, the Government announced some tax measures to assist companies in situation of Coronavirus impact. These are given below: Companies with supplies more DKK 50 million are subject to monthly VAT payment. But the
See MoreFrance: President announces to postpone the deadline for payment of taxes
On 12 March 2020, the President, Emmanuel Macron, announced that the deadline for the payment of taxes and social security contributions will be postponed from during March 2020 for all companies due to coronavirus outbreak. Also, the President
See MoreUK: Budget Announcements for 2020
The UK Budget for 2020/21 was announced on 11 March 2020. Coronavirus - Emergency relief measures As a temporary measure to help business during the COVID-19 outbreak the statutory sick pay (SSP) will be extended to those advised to
See MoreUK: Tax Tribunal Rules in Favour of HMRC on IR35 Rules
A tax tribunal ruling issued on 4 March 2020 concerned the IR35 rules as they apply to an individual operating through a service company providing services to a client. Under the IR35 intermediaries legislation the decision as to whether the
See More