OECD: Latin American Revenue Statistics
The OECD has published the revenue statistics for Latin American and Caribbean countries. The report entitled Revenue Statistics in Latin America and the Caribbean was produced by the Inter-American Centre of Tax Administration (CIAT), the Economic
See MoreEuropean Commission and IMF discuss revenue mobilization
Representatives of the European Commission and the international Monetary Fund (IMF) met on 14 March 2016 to discuss strengthening their partnership in areas such as mobilizing domestic revenue. In the next few months the two organizations are
See MoreUK: Corporation tax and large companies
A report published by a UK accounting firm indicates that 85 of the companies in the FTSE 350 index paid corporation tax at a rate of less than 5% on their accounting profits; a further 8 companies paid less than 10% of their profits in corporation
See MoreUK: Research into motivators and incentives for voluntary disclosure
HMRC has published a report on the findings of a research project on drivers for taxpayer participation in voluntary disclosure opportunities. The project involved 38 interviews with taxpayers who had either disclosed voluntarily; been investigated
See MoreIMF: Fair Taxation in the Middle East and North Africa
The IMF published Staff Discussion Note 15/16 on 2 September 2015 dealing with the subject of fair taxation in the Middle East and North Africa (MENA). The notes look at how tax systems can contribute to meeting demands for greater fairness in the
See MoreGhana: IMF supports fiscal reforms
The IMF has approved a USD918 million loan in support of Ghana’s economic reform program. Ghana is described as one of Africa’s frontier emerging markets, with a trade in commodities that allowed it to weather the storms resulting from the
See MoreTurkey: Blacklist of taxpayers has published
The Finance Ministry in Turkey has published on its website the blacklist of taxpayers with unpaid tax and fines that exceeds TRL 100 million on 27th December 2014. The list contains both individual and corporate taxpayers. It also includes some
See MoreSlovenia: Plans to Increase Tax Collection
Slovenia's new government plans to improve tax collection and reduce public spending in a bid to cut its budget deficit. Following the parliamentary vote of confidence for his government, Prime Minister said "Our fiscal policy will be restrictive;
See MoreBulgaria: Ministry of Finance warns on Budget
Recently, Interim Finance Minister has said that a revised budget in Bulgaria is unavoidable following an under performance in revenue collection, and that efforts would be prepared to increase revenue from VAT and excise duty. The Finance
See MoreIMF Suggests Revenue Enhancing Tax Reforms for Uganda
The International Monetary Fund (IMF) has suggested that tax changes should be put through in Uganda to deal with the problems with government finances. The tax base has to be broadened to counteract the effect of the large shortfall in tax revenue
See MoreLithuania: IMF Looks At New Revenue Sources
Lithuania’s tax revenue as a percentage of GDP is currently one of the lowest in Europe. The IMF considers that Lithuania could increase government revenues by making improvements to tax on wealth and capital and by broadening the scope of value
See MoreIreland Reports Resurgent Tax Receipts
Revenue collections to the end of April have risen by comparison to the same period in the previous year. The increased tax collection has helped to reduce Ireland’s fiscal deficit. The income tax collection has increased in 2014, mainly as a
See MoreHong Kong Ensures Low-Tax Policies
The Financial Secretary has said that spending will be limited to 20 percent of the GDP so that the low tax regime may be retained without problems in balancing the budget. The Working Group on Long Term Fiscal Planning which was set up in June 2013
See MoreUkraine Unveils IMF-Backed Fiscal Reforms
A raft of economic reforms has been published by Ukraine including some tax measures. Government revenue is to be increased by combating direct tax evasion and tightening the value added tax system to reduce the amount of avoidance and fraud. The
See MoreLuxembourg set for bigger losses on 2015 EU electronic VAT rule change
Luxembourg considers that it could lose €800 million per year as a result of the change in the rules used to determine the place of supply of consumer electronic services. This change in the EU VAT regulations is due to take effect from 1 January
See MoreSouth Africa – The 2013/14 Revenue Exceeds Expectations
The South African Revenue Service (SARS) published information on 1 April 2014 in respect of the outcome of tax collection for the fiscal year 2013/14. This indicates that ZAR 899.7 billion was collected, an increase on the year before. Although the
See MoreChina: Tax Revenues grew in 2013
Total tax revenue in China increased by 9.8% in 2013; VAT revenue rose by 9% to nearly RMB2.9 trillion, while corporate income tax revenue grew by 14% to RMB2.2 trillion. Total tax revenue was just over USD1.8 trillion; however rate pf increase
See MoreUS: Moneyed Households Pay over 100 Percent of Income Tax
Based on a report of Distribution of Household Income and Federal Tax for 2010, Congressional Budget Office (CBO) pointed out that the share of taxes paid by higher-income households in the United States significantly exceeded their share of
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