Kazakhstan: Draft amendments in the Tax Code
The website of the Senate of the Republic of Kazakhstan posted a draft of amendments to the Tax Code of the Republic of Kazakhstan for 2024. Some of the amendments are traditionally retrospective and enacted from past periods. Here are some of the
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OECD: Taxation of Labour vs Capital Income – Focus on Higher Earners
An OECD Tax Working Paper published on 28 August 2023 looked at the different tax treatment of labour and capital income, examining especially the position of higher earners. A number of governments tax labour and capital income in different
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UK: Policy Paper on Tax Implications of Hybrid and Distance Working
On 20 December 2022 the UK’s Office of Tax Simplification (OTS) issued a policy paper on the tax implications of hybrid and distance working. This follows a call for evidence earlier in 2022 and consideration of the comments received from
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IMF Report Considers Romania’s Economic Situation
On 10 June 2022 the IMF published a report following discussions with Romania under Article IV of the IMF’s articles of agreement. Romania’s economy recovered well after the pandemic; but is now facing strong challenges. The GDP
See MoreOECD: Taxing Wages 2022
On 24 May 2022 the OECD published the latest issue of the annual publication Taxing Wages 2022. This sets out details of taxes paid on wages in OECD countries, covering personal income taxes and social security contributions paid by employees;
See MoreZambia: Government implements budget tax changes for 2022
Recently, the Zambian Government has published Practice Note No. 1/2022 which provides an overview of the various 2022 tax changes implemented through the Budget 2022 Amendment Acts. The most important changes are summarized below: Corporate
See MoreIMF: Tax Policy and Gender Equality
On 22 April 2022, as part of the Spring Meetings of the IMF and World Bank, there was a video presentation on gender and taxation by Maria Coelho of the Fiscal Affairs department of the IMF. The speaker noted that laws that once existed legally
See MoreUK: Consultation on Corporate Redomiciliation
The UK budget announcements on 27 October 2021 included a proposed consultation on introducing a UK corporate re-domiciliation regime, to allow companies to re-domicile and therefore facilitate relocation to the UK. The consultation document was
See MoreKazakhstan: State Revenue Committee announces some amendments in tax code
On 28 July 2021, the State Revenue Committee announced amendments that have been made to Tax Code. The changes were introduced by Law No. 52-VII of 24 June 2021 and, unless otherwise specified, generally apply from 1 January 2022. The Tax Code of
See MoreUK: Survey Indicates Support for Change of Tax Year End
A recent survey conducted by BDO in the UK revealed that more than 90% of the businesses surveyed were in favour of a change to the tax year end to 31 December. The survey included 500 UK companies whose annual revenue is between GBP 10 million and
See MoreAustralia: Federal Court rules on tax position of UK citizen in Australia with a Working Holiday Visa
In a judgment of 6 August 2020 the Australian Federal Court ruled in favour of the Commissioner of Taxation in a case involving the residency test for a UK citizen staying in Australia on a Working Holiday Visa (WHV). The Court found that the UK
See MoreIMF: Aging Economies May Benefit Less from Fiscal Stimulus
An IMF blog posted to its website on 7 August 2020 suggests that economies with a higher proportion of older people may gain less momentum from a fiscal stimulus compared to countries with a younger demographic. The blog is based on research from
See MoreOECD: Tax issues for cross border workers during the COVID-19 crisis
On 7 April 2020 the OECD published on its website guidance on tax issues relating to cross-border workers during the crisis. As a result of travel restrictions and quarantine requirements many cross-border workers cannot go to the country where
See MoreEcuador: President announces tax relief measures during COVID-19 pandemic
On 27 March 2020, the President announced a series of measures due to coronavirus outbreak. The key measures are given below: Payment of corporate income tax for fiscal year 2019 for the months of April, May, and June 2020 can be deferred and
See MoreUK: Changes to IR35 Rules
On 27 February 2020 HM Treasury confirmed that the planned changes to the IR35 rules will be implemented from 6 April 2020. The IR35 off-payroll labour rules were introduced in response to perceived tax avoidance by individuals providing services
See MorePakistan presents Budget for FY 2019-20
On 11 June 2019, the Finance Minister has presented the budget for the financial year (FY)2019/2020 to the parliament. The finance minister said that the total federal revenue was estimated at Rp6.717 trillion, 19% more than the previous year's
See MoreOECD: Taxing Wages 2019
On 11 April 2019 the OECD released Taxing Wages 2019 analysing developments relating to taxation and social security contributions for workers across the OECD countries in 2018. The general conclusion of the report is that there was a slight
See MoreHungary: Parliament approves new tax measures
On 14 November 2017, the Hungarian Parliament approved a package of tax which includes measures related to the tax procedural rules and also some other provisions that will affect corporate and individual taxpayers. The new tax legislative package
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