Kazakhstan-Amendment of excise tax
The president of Kazakhstan has signed Law No. 210-V due to amend the excise tax rules on June 18, 2014 and this law will be effective from January 1, 2015. Excise taxes are levied at rates applicable during import if excisable goods are both
See MoreBrazil: The financial transactions tax on cross-border loans
The governments released a Decree no. 8,26314 on June 2014, for the purpose to assigns new maturity term for cross-border transaction. Financial transactions tax on cross-border loans to be allocated at 0% rate which was previously 6% IOF rate.
See MoreBrazil: Tax Break for Automobile and Furniture Industries
On June 30, 2014 the Finance Minister has announced to extend a tax break for the car and furniture industries until the 31 December 2014, in order to help boost sales depressed by a slowing economy. The taxes for new cars are in between 3% to 10%
See MoreMexico: Tobacco tax rate increase rejected
The health secretary has rejected the tax proposal to increase tax on tobacco and it has been decided that tax will remain same as previous years. In the Special Tax on Production and Services (IEPS) a pack of 20 cigarettes is taxed at 160% of
See MoreBrazil: Reduces Different Import Tax Rates
The Foreign Trade Chamber (CAMEX) of Brazil has declared that the 10% import duty will be cut from wheat, capital and electronic goods till 15 August 2014, and this decision came into effect from 24 June 2014. CAMEX also introduced, 2 Resolutions-
See MoreFrance Reveals Revised HGV Tax
The French Ministry of Ecology has announced that the plans for a heavy goods vehicle (HGV) "eco" tax will be abandoned. Instead of this a truck transit toll will be imposed from 1 January 2015. The charge will be applied to all HGVs over 3.5
See MoreCzech Republic: Announcement of new anti-tax evasion force
The Ministry of Interior has declared the a new anti-tax evasion unit, naming "Cobra" regarding the sign of a protocol agreement on exchange information for customs, tax, and police chiefs and promised results by the end of the year. Finance
See MorePeru: New tax stability contracts for large scale mining projects
The government of Peru has proposed a new tax stability contract for large scale mining projects. The tax stability contract would try to keep the taxation rates on investments of at least $500m unchanged for a period of 15 years. The proposal also
See MoreUS Treasury fact sheet to support Education Tax Credit Claims
In order to raise the awareness of students and their families, the US Treasury Department has published a fact sheet to educate colleges and universities, tax preparers, software providers and other stakeholders, on the complex rules addressing
See MoreRomania plans to cut social security contributions
The Romanian Government is planning to cut social security tax paid by the employers by five percentage points though the plan has not been approved by the International Monetary Fund (IMF). Romania's Prime Minister, Victor Ponta, has confirmed this
See MoreEgypt: Imposes exit tax on tourists
Egypt is now introducing USD25 airport departure tax to flight fares to boost revenue for the cash-strapped state. The charge, which was announced, is in addition to the cost of an entry visa. It is be afraid of that the levy will be a further
See MoreCanada: Mining tax changes in Quebec budget
According to the 2014-15 Quebec budget, Quebec has declared several measures that will impact on the mining industry and it proposes to deduct tax credits and confirms that the mining tax regime would be effective from January 1, 2014. The budget
See MorePakistan: Budget 2014/15 introduces GST and excise changes
With the Budget 2014/15 Pakistan is introducing a number of minor changes to the Goods & Services Tax (GST) and Excise Duty regimes from July 2014. Following changes will take place: Simplified GST regime introduced for the retail
See MoreVenezuela – Regulations regarding commercial property leases
A new legislative decree has published in late May 2014 including changes to the rules regarding commercial property leases in Venezuela. As determined by the tax authorities, the decree also establishes the invoice provided by the landlord to the
See MoreOECD: Lower Labor Taxes Would Benefit Germany
In a published survey on Germany the OECD has suggested that the tax on labor could be cut while social security contributions could also be decreased for those on low incomes. This could promote growth, but currently Germany is too reliant on taxes
See MoreFrance- Lawmakers Seek Simpler Tax Regularization Scheme
French members of parliament have indicated that offering taxpayers a chance for tax regularization through a lump sum 10 percent tax on assets repatriated would raise revenue for the government of around EUR 10 billion. Around half of this sum
See MoreEuropean Inheritance Tax Burdens Compared
A recent examination of inheritance tax systems in European countries suggests that there is no consistency in the way that the taxes are applied to family business transfers. The way the tax operates is greatly influenced by the tax relief that can
See MoreBrazil – Tax Hike on Drinks Postponed
Brazil is delaying until September 2014 a proposed rise in indirect tax on certain types of drink. The original proposal was that the tax on energy drinks, beer and some fruit juice would increase by around 1.5 percent on average from 1 June 2014.
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