Japan and US Hold Talks On TPP
Talks were held between Japan and the US on 9 and 10 April 2014 to consider the remaining issues relating to the terms of the planned Trans-Pacific Partnership (TPP) trade agreement. The main problems between the US and Japan concern Japan’s
See MoreUS Prepares To Enforce 45 FATCA Pacts
The US has announced that the agreements signed by foreign countries with the US in respect of the implementation of the FATCA legislation will be regarded as in effect until the end of 2014. The agreements are intended to ease compliance by
See MoreIreland Launches Tax Relief Review
As part of a review of tax relief the Irish Government has launched public consultations on certain tax relief. The reviews of these tax breaks are to be completed by May 2014 and the findings of the reviews will be taken into consideration by the
See MoreFrance- President Promises to Push Through Tax Cuts
The French President has pledge to put the economy on firmer ground by reducing taxes for households and businesses, with the aim of increasing the consumers’ net income and purchasing power. The President has promised to reduce labor costs for
See MoreEgypt to announce second stimulus package
The Egyptian finance minister has said the government will announce within days details of its second stimulus package to boost Egypt’s rapid growth and to reassure
See MoreEgypt aims to unveil new fiscal incentive package
The Egyptian Finance Minister has announced that the Government aims to unveil details of a new fiscal stimulus package shortly. The Government adopted its first stimulus package in the second half of 2013. The Finance Minister indicated that the
See MoreUnited Kingdom – Councils to Retain Tax Revenues from Shale Gas Developments
On 13 January 2014, the UK Prime Minister announced that the local councils in the U.K. that approve shale gas developments will be able to retain 100 percent of business rates collected from local shale gas sites, doubling the current 50 percent
See MoreItaly Allows Taxpayers to Regularize Undeclared Foreign Capital
Recently the Italian Government approved a new decree to constitute a legal framework to allow for the regularization of undeclared capital held abroad by Italian residents. The new decree allows for favorable treatment, including penalty
See MoreNetherlands Eyes Key Changes To Financial Market Rules In 2014
The Dutch Finance Ministry has announced that a number of key changes to financial market laws and regulations are due to enter into force in the Netherlands from January 1, 2014. The most important legislative changes include plans to impose a
See MorePhilippines: Tax Exemptions for Haiyan Relief Goods
The Commissioner of the Bureau of Internal Revenue of Philippines has ensured that foreign donations and relief goods arriving for the victims of the Haiyan super typhoon in the Philippines will not be taxed, if their arrival is correlated with
See MoreNetherlands Hails Tax Amnesty A Success
On 13 November 2013 it was reported that the Dutch Financial State Secretary has hailed the Government's temporary relaxed voluntary disclosure scheme as a success. The State Secretary emphasized the fact that since its introduction, almost 500
See MoreCanada will balance budget in 2015 without raising taxes
The Finance Minister of Canada released economic and fiscal projections annual update on that reports that the government is on the right track to balance the budget in 2015 without raising taxes. The government desires to balance the budget without
See MoreKazakhstan to Exempt EXPO-2017 Facilities from Tax
The Economy and Budget Planning Minister said that facilities for EXPO-2017 held in Astana city will be free from tax. The Minister declared that the tax Code is being amended regarding not the liability of national companies from corporate income,
See MoreItaly: The confirmation of reduced tax burden in Budget
The Italian Minister of Finance and the Economy has felt to counter some comments being made in criticism on the 2014 proposed Budget by the government Budget and has re-assured that the budget has been planned to reduce tax burdens. The Minister
See MoreFrance – Update on proposed tax legislation
The proposed tax changes contained in the legislation are expecting to execute the package of Finance Bill 2014 of France. According to the proposed legislation pending before the French Parliament the surcharge on corporate income tax would be
See MoreFrance to Renegotiate HGV “Eco Tax” Contract
The French Finance Minister has announced plans to renegotiate the contract concluded with the Italian-led consortium Ecomouv. The contract is charged with implementation of the country’s controversial heavy goods vehicle (HGV) eco tax, to
See MoreNetherlands Reveals 2013 Tax Take Figures
The Dutch Finance Ministry has announced that state revenue and expenditure levels for 2013 are in line with the prognosis contained in the 2014 Budget. Confirming that total income from taxes and contributions will amount to around EUR225.8bn this
See MoreFrance -Presents Finance Bill 2014
The French Finance Minister and Budget Minister presented the country’s 2014 finance bill to the Council of Ministers on 29 September 2013, providing for a number of tax measures designed to increase employment and to modernize and preserve
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