Ireland 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 MoreAustria: Research Institute Calls for Symbolic Cut in Taxes on Labor
The President of the Austrian Institute of Economic Research has urged the Government to launch its offensive on reducing the fiscal burden on labor in Austria as early as next year, starting with a symbolic first step. He proposed that the
See MoreNetherlands – Dividend withholding tax when companies located in Curaçao
The Advocate General of the Court of Justice of the European Union (CJEU) issued an opinion in two joined cases that involve profit distributions made by Dutch companies to their parent companies that are residents of Curaçao. The opinion of the
See MoreWTO panel mediates US-Korea Trade Dispute
One of the important functions of the World Trade Organization (WTO) is to provide a means of settling trade disputes between its member states. The Dispute Settlement Body of the WTO established a panel on January 22, 2014 to mediate in a dispute
See MoreUS: Public comments requested on withholding certificates for foreign persons
The US Internal Revenue Service (IRS) and the US Treasury Department have issued a notice requesting comments on various IRS forms that are used as withholding certificates for foreign persons (i.e. certificates to claim reduced or zero withholding
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 MoreEU Discloses Climate Change Plan
The European Commission has proposed the establishment of a market stability reserve at the beginning of the next Emissions Trading Scheme (ETS) trading period. The ETS was designed to deliver emissions reduction goals in a harmonized and
See MoreArgentina: Highest tax to GDP in Latin America is reported
According to the Economic Commission for Latin America and the Caribbean (ECLAC), tax revenue in Argentina is the the largest and fastest growing among this region. The latest tax revenue-to-GDP data of Argentina was 37.3 percent, which put the
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 MoreMorocco: International Tax Dialogue To Making Fiscal Reorganization Work
A meeting of tax administrators from more than 95 countries throughout the world has been discussing the distribution of taxing powers between different levels of government. The global conference of the International Tax Dialogue in Marrakech,
See MoreCanada has perfectly managed Liechtenstein’s tax information
The Canada Revenue Agency (CRA) managing this data was reviewed as part of the Auditor General's fall 2013 report. The office has examined whether the agency perfectly conducted compliance activities for those listed under the Liechtenstein bank,
See MoreUS hopeful of resolution over issue of Chinese VAT on Shipping
A bilateral consultation was held with China over the impact on international shipping firms of the extension of Chinese value added tax to cover shipping services on August 1, 2013, on the basis of Circular 37/2013. Commissioner William Doyle of
See MoreFrench and Italian FTT has been challenged by the German banks
The financial transactions tax (FTT) presently levied by France and Italy on trading in French and Italian securities need to be banned by the European Commission which is urged by the Leading associations from the German finance industry. They
See MoreCzech Republic: Corporate tax liability is affected by regional aid rules
An essential fact that may impact indirectly the tax liability of Czech companies is the end of the seven-year (2007-2013) period for taking regional aid via EU programs and the starting of a new one, which will be related to new rules in this area
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