Portugal: Collection of Food Security Tax being enforced
The Portuguese Government is finally taking action to enforce payment of the country's food security tax from operators of large supermarket chains. Portugal's State Secretary for Food said that 107 cases are currently before the administrative and
See MoreIreland: High taxes may reduce competitiveness
The Irish Government has been warned to control further increases in personal taxes by the head of the country's largest recruitment firm. A recent survey found that almost half of all Irish job seekers are now emigrating to find work. Roughly one
See MoreSlovenia – Constitutional Court Suspends Real Estate Tax
Slovenia's Constitutional Court has suspended property tax assessments. The tax imposes a charge based on property value of between 0.15 percent for occupied residences through to 0.5 percent for empty homes and 0.75 for commercial properties.
See MoreTurkey Raises Consumer Taxes
Turkey intends to increase state revenues by raising indirect taxes, fines and fees. An announcement by the Council of Ministers of Turkey on 1 January 2014 will increase purchase taxes on cars, alcoholic beverages, cigarettes and mobile phones, as
See MoreFrance Pushes Ahead On FTT
Embarking on a lonely and uncertain course, France’s long-awaited, much debated tax on financial transactions (FTT) finally entered into force on 1 August 2012. Supposedly prefiguring the introduction of a mechanism at European level, a 0.2% tax
See MoreHong Kong: Stamp Duty Increases Affect Property Sales
Increases in the rates of existing ad valorem stamp duty for both residential and non-residential property transactions appear to have cooled the real estate market. The Government increased such taxes from February 23, 2013 for that goal and it
See MoreSouth Africa delays implementation of GST on foreign digital supplies
It has been published on 26 December 2013 that the plans to implement South African GST on digital supplies have been delayed from January 2014 until at least the start of April 2014. In a change to the Taxation Laws Amendment Act, the South African
See MoreGST in Malaysia supported by the IMF
It was reported on 19 December 2013 that the International Monetary Fund’s (IMF) Mission Chief for Malaysia said at the conclusion of discussions for the 2013 Article IV Consultation that he welcomes the country’s decision to introduce a Goods
See MoreUS States Cut Taxes in 2013
Eighteen US states have cut taxes in the 2013 legislative year, reflecting an emphasis, following the recession, on pro-growth reforms that encourage economic expansion and competition, according to a new report by the Center for State Fiscal Reform
See MoreIndia: Clarifies conditions of service tax amnesty
The Indian Finance Ministry has wanted to clarify concerns over its Service Tax Voluntary Compliance Encouragement Scheme (VCES) by commenting on issues raised by industry representatives. The Finance Minister recently settled a series of
See MoreArgentina plans to apply Luxury tax to preserve dollars
The government of Argentina is planning to increase the taxes on high-end cars and other imported luxury goods. A Bill has been sent to Congress with a view to implement this policy. The government is attempting to protect the country’s reserves
See MoreRussia-Calculate corporate property tax by using cadastral value
Russia has enacted Law No.307-FZ naming “Concerning the Use of the Cadastral Value of Real Estate for the Calculation of the Corporate Property Tax Base” that was published on November 6, 2013 and it will apply from January 1, 2014. A
See MoreAustralia: Carbon tax repeal Bill tabled
The Prime Minister of Australia on 13 November 2013 tabled a bill canceling controversial carbon tax throughout the first session of parliament. The government is hoping to repeal the carbon tax in
See MoreProperty tax cut of South Korea
The government of South Korea has decided that the tax cut on home purchases will become effective from 28 August 2013. The tax cut was previously scheduled to come into effect from 1 January 2014. The government has proposed to permanently reduce
See MoreBank of Ireland estimates cost of new levy
The presentation of an annual banking levy will cost it EUR40m (USD53.9m) a year for the following three years. This is estimation made by the Bank of Ireland Group. Provisions for the introduction of a levy on the banking sector are made in the
See MoreAustralia: E-commerce registration threshold for non-resident remain unchanged
The Australian Goods and Services Tax (GST) registration threshold for e-commerce on-line sales to consumers has been kept unchanged by the Australian government. Despite this the government intends to begin a review into the GST threshold for
See MoreItaly: Decree on Financial Transaction Tax has been issued with Amendment
A Decree has been approved by The Italian Ministry of Economy and Finance on 16 September 2013 which makes the amendment of Decree on the Italian Financial Transaction Tax (IFTT) issued in order to implement the IFTT Law adopted last year on 24
See MoreAustralia: Draft Bill to repeal carbon tax
The Australian Prime Minister and Environment Minister on 15 October 2013 announce that the government has released draft legislation to repeal the carbon tax for public consultation. As per the government, the first enactment they will table in
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