Canada: New tax credit highlights
In the recently reintroduced 2011 federal Budget the Canadian government has announced its new children’s arts tax credit. According to that parents can claim money spent on programmes focusing on fine arts, music, performing arts, outdoor
See MoreVAT Amnesty Launched in UK
UK is continuing its concentrated efforts to solve the issue of tax evasion. In this regard, UK is launching a new campaign focusing on those trading above the current value-added tax threshold, but who have not registered themselves for the
See MoreItalian business against VAT rate hikes
Rete Imprese Italia, representing artisans, traders, the tourist sector and other services in Italy, has emphasized to stop penalizing consumer spending which is obvious in the Italian government’s proposed three-year tax reforms framework.
See MoreFrance’s Draft Finance Act with 2011 Amendments
The French government has recently published the 2011 Amended Draft Finance Act. The significant changes to the legislation that may be applicable to expatriate employees and their employers include: Increase in the wealth tax rates, A new tax
See MoreChina income tax threshold increased
The Standing Committee of China’s National People’s Congress (NPC) has agreed to raise the personal income tax threshold. With effect from September 1, 2011 the current personal income tax monthly threshold will be increased to RMB 3500
See MoreNew CFC Rules Released in UK
The UK government has published its proposals for the reform of the Controlled Foreign Company (CFC) regime through a press release on 4 July 2011. The government intends to modernize the CFC regime in 2012, which it expects will better reflect the
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