UK: Amendments to Securitisation Tax Regime
On 30 November 2021 the UK government published a summary of responses to the consultation on the securitisation tax regime. The consultation paper issued on 23 March 2021 contained suggestions on the reform of the taxation of securitisation
See MoreOECD: Revenue Statistics 2021
On 6 December 2021 the OECD released Revenue Statistics 2021, containing a detailed summary of internationally comparable tax data for the OECD countries. The statistics present the data for the year 2020, a year affected by the pandemic. The
See MoreOECD: Review of Property Tax Design and Reform in OECD Countries
On 30 November 2021 the OECD issued a report on property tax reform. Some detailed focus in the report is on China, which is launching pilot property tax schemes in some regions and aims to eventually introduce a wider tax on residential
See MoreIMF Report on India’s Economy
An IMF country focus on 12 November 2021 indicates that India’s economy is preparing to rebound following the setbacks inflicted by the second wave of Covid-19 infections. India’s substantial policy responses to the pandemic, with economic
See MoreIreland: Finance Department releases amendments to Finance Bill 2021
On 12 November 2021, the Finance Minister, Paschal Donohoe T.D., appreciated the approval by Government to a number of Government amendments to be put down at Committee Stage of the Finance Bill 2021. The Minster has decided not to proceed with
See MoreItaly: Council of Ministers Approves Budget for FY 2022
28 October 2021, Italian Council of Ministers has issued a release declaring its approval of the Budget for FY 2022. The key tax measures include plastic tax and sugar tax is postponed until 2023, the VAT rate on feminine hygiene products is
See MoreUN: Tax and the Sustainable Development Goals
On 19 October 2021 the discussions of the UN Tax Committee covered issues around the role of taxation in achieving the sustainable development goals (SDGs). The work of the UN Committee can help countries to achieve their commitments related to
See MoreOECD: Tax Policy and Climate Change
A report on Tax Policy and Climate Change, produced by the IMF and the OECD, was included as an attachment to the OECD report for the meeting of G20 Finance Ministers on 13 October 2021. Carbon taxes and emissions trading systems result in
See MoreOECD: Tax and Fiscal Policy after the Pandemic
The OECD prepared a separate report entitled Tax and Fiscal Policy After the COVID-19 Crisis for the meeting of G20 Finance Ministers on 13 October 2021. This report was included as an attachment to the main report to the Finance Ministers. The
See MoreOECD: Report to G20 Finance Ministers Meeting
The OECD has published its report prepared for the meeting of G20 Finance Ministers on 13 October 2021. Two Pillar Solution on Tax Challenges of the Digital Economy The report notes that the two-pillar approach to digital economy taxation
See MoreIMF Report Discusses Developments in the Netherlands
On 28 September 2021 the IMF issued a report on the Netherlands economy following consultations under Article IV of the IMF’s articles of agreement. The report notes that the Netherlands economy suffered a relatively small recession in the
See MoreUK: Soft Drinks Industry Levy Statistics
On 30 September 2021 the UK government published the latest statistics on revenue collected from the soft drinks industry levy (SDIL). The UK introduced the SDIL in April 2018 after public consultation with the industry and other interested
See MoreWorld Bank: Taxation of the Digital Sector
On 1 October 2021 the Third World Bank Tax Conference discussed the taxation of the digital sector. Value added tax collection The growth of the digital economy has changed business models and has presented new problems for tax assessment and
See MoreWorld Bank: Conference looks at implementation of new tax instruments
On 1 October 2021 the second day of the Third World Bank Tax Conference looked at the practical implementation of new tax instruments. Sugar tax in South Africa The sugar-sweetened beverage tax in South Africa was first announced in the 2016
See MoreWorld Bank: Third Tax Conference Discusses Environmental Taxes
The first day of the Third World Bank Tax Conference on 30 September 2021 included a session on environmental taxes, focusing on carbon pricing and carbon taxes. Some issues raised in the discussion are summarised below. Carbon rebate
See MoreEU: Proposed carbon border tax criticised by BRICS countries
On 27 August 2021 a virtual BRICS ministerial meeting on the environment stated its joint opposition to the EU’s proposed carbon border adjustment mechanism and referred to it as discriminatory. The BRICS countries – Brazil, Russia, India,
See MoreUK: Survey Indicates Businesses are Unprepared for Plastic Packaging Tax
A study conducted by the waste management company Veolia on preparation for the plastic packaging tax has found that more than 80% of the businesses taking part in the survey were not aware that the tax is being introduced. The plastic packaging
See MoreUK: Modernisation of Stamp Taxes on Shares
On 20 July 2021 the UK government published a summary of the responses to the consultation document on the modernisation of stamp taxes on shares. The government had issued a call for evidence on the principles and design of a new stamp duty and
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