Canada: Federal budget 2019
On 19 March 2019, Finance Minister Bill Morneau tabled in the House of Commons the Liberal Government’s Budget 2019. This budget focuses on continued economic growth, job creation, support for first-time home buyers, investments in cleaning up
See MoreUK: Spring Statement 2019
The Chancellor delivered the Spring Statement on 13 March 2019. There were no major tax announcements owing to the uncertainty currently surrounding the UK’s withdrawal from the European Union. UK economic growth is to fall to 1.2% for 2019,
See MoreHong Kong: Financial Secretary presents 2019/2020 Budget
On 27 February 2019, the Financial Secretary has presented the 2019-20 budget to the Legislative Council. The Budget measures includes the following: -Reducing profits tax by 75% for 2018/19, subject to a ceiling of HKD20,000, effectively giving
See MoreUK: Consultation on Plastic Packaging Tax
On 17 February 2019 the UK government issued a consultation document on the introduction of a plastic packaging tax, inviting comments from interested parties by 12 May 2019. This consultation follows a call for evidence in March 2018 which
See MoreUK: Finance Act 2019 receives Royal Assent
The UK Finance Act 2019 received the Royal Assent on 12 February 2019. The Act includes some of the measures announced by the Chancellor in the Autumn Budget in October 2018. Annual Investment Allowance The Annual Investment Allowance (AIA) is being
See MoreSingapore presents Budget for 2019
On 18 February 2019, the Finance Minister of Singapore delivered the Budget for 2019. The main tax-related measures are summarized below: To maintain support to companies in their automation, productivity and scale-up efforts, the 100%
See MorePortugal legislates the Budget Law for 2019
On December 31, 2018, Portugal published 2019 budget law (No.71/2018) in the official gazette and generally applies as from 1 January 2019. The budget law includes changes to income tax law and other taxes. The budget law include the following
See MoreUK: Date of Spring Statement Announced
The Spring Statement is to be announced on 13 March 2019. The Spring Statement is a response by the UK government to the economic forecast by the Office for Budget Responsibility and gives the government a chance to comment on the direction of the
See MoreIndia: Finance Minister presents Budget for 2019-20
On 1 February 2019, Finance minister Piyush Goyal presented the much awaited Union Budget in Lok Sabha. Goyal was appointed interim finance minister on January 23 with Arun Jaitley undergoing treatment in the United States. Some of the main measures
See MoreIreland: President Signs Finance Act 2018
Ireland has published the Finance Act 2018 (Act 30 of 2018), which was approved by parliament and signed into law by the president on 19 December 2018. The Act mainly provides for the implementation of measures announced as part of the 2019 Budget.
See MoreNetherlands gazettes Budget for 2019
The Netherlands’s Budget for 2019 was published in the Official Gazette of 28 December 2018. On 18 September 2018, the Minister of Finance of Netherlands presented the 2019 Budget proposals to the House of Representatives and it was adopted on 15
See MoreMalaysia: Corporate tax proposals under budget 2019
On 2 November 2018, the Malaysian Finance Minister presented his budget proposals for 2019. Summary of the main corporate tax proposals: Introduction of a Special Voluntary Disclosure Program for taxpayers to voluntarily declare any unreported
See MoreUK: Call for evidence on amendments to tax returns
On 7 November 2018 the UK government issued a call for evidence on the amendment of tax returns. The closing date for receipt of comments is 6 February 2019. An amendment is any change made by a taxpayer to a tax return that has already been
See MoreUK: Consultation on the Corporate Capital Loss Restriction
On 29 October 2018 the government published a consultation document in relation to a restriction on the offset of corporate capital losses. The government is inviting comments from companies likely to be affected by the capital loss restriction and
See MoreUK: Consultation on Consideration Rules for Stamp Taxes on Shares
On 7 November 2018 the UK government published a consultation paper entitled Stamp Taxes on Shares: Consideration Rules requesting comments from interested parties on changes to the Stamp Duty and Stamp Duty Reserve Tax (SDRT) consideration rules.
See MoreUK: Finance (No 3) Bill 2018 published
The Finance (No 3) Bill 2018 was published on 7 November 2018. The second reading of the Bill in Parliament took place on 12 November 2018. When it has completed its passage through Parliament the Bill will become the Finance Act 2019 . The Bill
See MoreUK: Summary of responses on consultation on public sector licensing
On 7 November 2018 the UK government published a summary of responses to the consultation entitled Tackling the hidden economy: public sector licensing, launched in December 2017. Consultation document The original consultation document examined
See MoreUK: Responses to consultation on ensuring tax compliance by users of online platforms
On 7 November 2018 the UK government published a summary of responses to a consultation on the role of online platforms in ensuring tax compliance by their users. The government received 41 written responses with comments from online platforms,
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