OECD: 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
See MoreSlovak Republic: Government approves draft amendments to Income Tax Act
The government approved a bill amending the Income Tax Act on August 16, 2017. A draft amendment of the income tax act highlights the existing measures for the protection against tax fraud, extended of the rules for the protection against aggressive
See MoreZambia: Budget for 2018
Finance Minister of Zambia presented the 2018 National Budget for the year 1 January 2018 to 31 December 2018 to the National Assembly on 29th September 2017. Budget for 2018, which lays out the various expenditure and revenue measures aimed at
See MoreUK: Second Finance Bill of 2017 published
On 8 September 2017 the UK government published the second Finance Bill of 2017. This second Finance Bill was necessary because not all the legislative changes announced in the autumn statement 2016 and budget proposals for 2017 could be included in
See MoreUK: Statistics on non-domiciled taxpayers
On 31 August 2017 HMRC released statistics on non-domiciled taxpayers in the UK from 2007/08 to 2014/15. This is the first time that comprehensive statistics on non-domiciled taxpayers in the UK have been published and this will now become an annual
See MoreUK: Changes to non-domiciled rules in Finance Bill (No 2) 2017
Changes to the UK non-domiciled rules that were excluded from the Finance Bill 2017 are to be included in the Finance Bill (No 2) 2017. The Bill is to be published and considered by parliament in September 2017 following the summer recess. Updated
See MoreIndia and Cyprus Income tax treaty renegotiated
The Income Tax Treaty between Cyprus and India signed on 18 November 2016, have become available the treaty’s details. Both countries generally provide for the credit method to avoid double taxation. This treaty gives the following withholding tax
See MoreCanada: Special insurance premium taxes charged
The federal government and some province governments of Canada charge a tax regarding insurance premiums. Due to risks in the province, companies in Alberta must self-assess a 50% tax on certain insurance premiums. This requirement is applicable on
See MoreAustria: Announces social security rates for 2017
The Social Security act of Austria has been amended and published in the Official Gazette on 18 January 2017. The amendment provides that the total social security rate is set at 14.12% for employees not earning more than EUR 425.70 per
See MoreHungary-Amendments to the Tax law amendments adopted by the parliament
The amendments to the Hungarian Tax Law submitted by the Minister of Economy of Hungary were accepted on 12 December 2016 without any major modifications. According to the adopted Tax Law the new tax measures are as follows: Tax
See MoreUK: deemed domicile for income tax and capital gains tax
The UK is currently conducting a consultation on measures changing the rules for non-UK domiciled individuals. The changes are to be included in the Finance Bill 2016 and are to take effect from 6 April 2017. Draft legislation has been introduced to
See MoreUK: Memorandum of Understanding on Northern Ireland Corporation Tax
A Memorandum of Understanding on the Northern Ireland Corporation Tax (NICT) was published by HMRC and the Department of Finance and Personnel for Northern Ireland (DFPNI) on 7 January 2016. The transfer to the Northern Ireland Assembly of the
See MoreSouth Africa: SARS issues revised guide on the determination of medical tax credits
The South African Revenue Service (SARS) has issued a revised Guide on the Determination of Medical Scheme Fees Tax Credits and Additional Medical Expenses Tax Credits. This guide provides general guidelines regarding the medical scheme fees tax
See MorePeru: Notice on certificates of residence for claiming Double Tax Treaty benefits
On 3 July 2015 the Tax Authority of Peru issued Notice 094-2015 specifying certificates of residence status for claiming Double Tax Treaty benefits. According to the Peruvian law withholding will be required when an expense is accrued or when a
See MoreUK: HMRC releases information on non-domiciled individuals
The UK tax authority HMRC has released some statistical information on non-domiciled individuals in response to a request made under the legislation on freedom of information. Individuals who are not domiciled in the UK may elect to pay UK tax on
See MoreCanada: Highlights of Pre-election Federal Budget 2015
The Finance Minister delivered the Government’s 2015 pre-election federal budget on 21st April 2015. The tax highlights in the 2015 budget are given below: From the beginning of 2015, the limit for annual contributions to a tax-free savings
See MoreUK: ‘Deemed Consent’ Regime To NICs has been extended by HMRC
A change of policy from HM Revenue and Customs (HMRC) will enable informal representatives of elderly and disadvantaged taxpayers like family and friends to deal with tax issues like National Insurance Contributions on their behalf under the
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