UN: Virtual Meetings of the Committee of Tax Experts
The UN Committee of Experts on International Cooperation in Tax Matters held their twentieth session in the form of a series of virtual meetings from 22 to 26 June 2020. In the meetings the Committee emphasised the need to provide guidance and
See MoreOECD: Working Paper on Effectiveness of Carbon Pricing Design
An OECD working paper entitled Carbon Pricing Design: Effectiveness, Efficiency and Feasibility was posted on the OECD website on 22 June 2020. The paper notes that carbon pricing helps countries to achieve carbon neutrality and looks at ways to
See MoreIMF comments on Austria’s tax system
On 3 March 2020 the IMF issued a report following consultations with Austria under Article IV of the IMF’s articles of agreement. The report notes that Austria’s economy has been performing well recently but the growth rate decreased in
See MoreUN: Meeting of Committee of Experts on Taxation
The nineteenth session of the United Nations Committee of Experts on International Cooperation in Tax Matters was held from 15 to 18 October 2018. Issues discussed included transfer pricing, updates to the UN Model Tax Convention, dispute
See MoreSouth Africa introduces Budget 2019 in parliament
On 20 February 2019, Tito Mboweni (South Africa’s Minister of Finance) presented the Budget 2019 in the parliament. The budget proposal would not increase taxes in any category but proposed to increase tax collection by not adjusting for inflation
See MoreSouth Africa: Finance Minister presents the Budget for 2018
On 21 February 2018, South Africa’s Minister of Finance, Malusi Gigaba, delivered the Budget for the year of 2018. The budget includes the following tax proposals: VAT rate to increase from 14% to 15%. This change is effective from 1 April
See MoreOECD: Taxing Energy Use 2018
On 14 February 2018 the OECD issued Taxing Energy Use 2018, a publication that summarises the patterns of energy taxation in 42 countries of the OECD and G20. The countries included in the publication account for around 80% of global energy use. The
See MoreSouth Africa: National Treasury issues 2nd draft of the carbon tax bill for public comment
On 14 December 2017, the National Treasury was published the 2nd draft of the Carbon Tax Bill for public comment and presented in Parliament. The version of the second draft law is generally follows the first version (published in 2015) but reflects
See MoreRussia: Government proposes to introduce an environmental tax on cigarettes
The Ministry of health of Russia proposed to introduce an environmental tax on cigarettes for manufacturers, according to a draft of the “concept of state policy on combating tobacco consumption for years 2017-2022 and beyond”. This is
See MoreIMF issues report on economic position of Vietnam
On 5 June 2017 the IMF issued a report following the completion of discussions with Vietnam under Article IV of the IMF’s articles of agreement. The report notes that Vietnam’s economy has been performing well with growth of 6.2% in 2016 and
See MoreSaudi Arabia: Tax rates changed for oil producers, hydrocarbons
The Government of Saudi Arabia has set a range of income tax rates for producers of oil and hydrocarbons, through a royal decree on 27 March 2017. According to the decree, the tax rate for investments exceeding 375 billion riyals ($99.96 billion)
See MoreCanada: Carbon levy has been implemented in Alberta
The Alberta has executed the Climate Leadership Act along with associated regulations that forces to pay a carbon levy on fuels consumed in Alberta. It is part of Alberta’s broader climate change initiatives intended to reduce greenhouse gas
See MoreColombia: Tax reform summary 2016
According to law 1819 of 2016, adopting the structural tax reform bill approved on 23 December 2016. It introduces the following major changes to the corporate income tax regime: Income tax rates As from tax year 2019, a single income tax rate of
See MoreOECD research considers the effectiveness of carbon tax and emissions trading
A report released by the OECD on 26 September 2016 entitled Effective Carbon Rates: Pricing CO2 through Taxes and Emission Trading Systems suggests that current carbon prices are not high enough to reduce greenhouse gas emissions. The research also
See MoreUK: Consultation on changes to landfill tax
On 26 May 2016 the UK published a consultation document on changes to the definition of a taxable disposal for the purposes of landfill tax. The government also wants to gather information and views on hazardous waste that comes within the scope of
See MoreWorld Bank: Emissions trading and carbon taxes
Om 8 March 2016 the World Bank held a conference with over thirty developed and developing countries on the challenges of using carbon prices to reduce emissions of greenhouse gas. World Bank initiatives such as the Carbon Pricing Leadership
See MoreOECD Working Paper looks at Environmental Taxes and Inequality in Income Sources
An OECD Working Paper published in February 2015 explores the relationship between environmentally related taxes and inequality in income sources. The paper looks at whether there is any difference between countries that have implemented
See MoreIreland Increases Carbon Tax Rates
With effect from May 1 2014 the solid fuel carbon tax is to be raised. This change will bring the tax up to a level that is equivalent to EUR20 (USD28) per tonne of CO2 emitted, in line with the tax payable in respect of other fossil fuels. This
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