Sweden: Presents Budget for 2017
The Budget for 2017 was presented to the parliament on 20 September 2016. The Budget, measures will apply from 1 January 2017. The following measures relate to corporate tax: -The deductibility of representation expenses (relating to lunch, dinner,
See MoreMauritius: Budget for 2016-2017 with respect to tax management
The Minister of Finance delivered the Budget speech for 2016-17 to the parliament on 29 July 2016. The most important measures with respect to tax management are summarized below. –The Mauritius Revenue Authority (MRA) Act will be amended so that
See MoreFinland: Ministry of Finance published budget proposal for 2017
The Ministry of Finance published its proposal for Budget 2017 on 12 August 2016. The tax measures will be discussed by the government on 31 August and 1 September 2016. Details of the tax measures are summarized below. The possibility for setting
See MoreIsrael: Tax provisions in proposed budget plan for 2017-2018
The budget plan proposal for 2017-2018 announces significant changes in accordance with international taxation, and would be appropriate for individuals, multinational corporations operating in Israel and Israeli corporations operating abroad. The
See MoreMauritius: Publishes Budget for 2016-2017
The budget for 2016 - 2017 was provided on 29 July 2016 to the National Assembly by the Minister of Finance and Economic Development. The main proposals of the Budget on income taxes are summarized below: -Tax holidays for companies holding licences
See MoreIsrael: Tax benefits in draft Budget Law
The Finance Ministry has declared a draft proposals as part of the proposed Economic Arrangements Law 2017–2018 on 31st July 2016 that includes an expansion of tax benefits for hi-tech companies, at the same time further aligning Israel's tax
See MorePakistan: Government has decides to apply 0% sales tax on five export sectors
The government has decided to zero-rate for the local suppliers of textile, leather, carpets, surgical and sports sectors from 2016-17. According to the meeting between textile sector and Finance Minister, Five Export Sectors'' Associations,
See MoreBangladesh: Budget measures for FY 2016-17
The Budget for fiscal year 2016-2017 was presented on 2 June 2016. Budget measures relating to corporate taxation, once adopted, will take effect from 1 July 2016. Some of the proposed measures are following: the minimum tax rates will be
See MorePakistan: Publishes Budget for 2016/17
The Minister of Finance has published the tax proposals on 3 June 2016 in the Finance Bill 2016 as part of the annual budget for fiscal year 2016/17. The main details of the Budget on income taxes are summarized below: The following measures
See MoreTanzania: Budget 2016/17 regarding direct taxation
The Finance and Planning Minister has presented the Budget for 2016/17 to the National Assembly on 8th June 2016. The proposed measures related to direct taxation are summarized below: Corporate taxation Withholding tax on payments made to
See MoreUK: Proposed tax on sugary drinks criticized by pressure group
As part of the budget proposals for 2016 the UK announced a proposal to impose a tax on sugary drinks with effect from April 2018. This would apply to soft drinks with sugar content above a certain level and would be imposed on the manufacturers of
See MorePortugal: State Budget 2016 approved
On 30 March 2016, the State Budget 2016 (Law 7-A/2016) of Portugal has been promulgated by the President of the Portuguese Republic and published in the official journal Diário da República. Additionally, on 5 February 2016, further budget
See MoreCanada: First reading of federal budget bill 2016 received
Federal budget bill 2016, Bill C-15, has received first reading on 20th April 2016 that contains some of the proposals announced by the 2016 federal budget. It also includes several measures, such as changes affecting the inter-corporate dividend
See MoreSingapore: Finance Minister presents the 2016 budget to Parliament
The Budget for 2016 was presented to Parliament by the Finance Minister on 24 March 2016. A summary of the Budget with regard to corporate taxation is set out below: Tax incentives: -Under the Productivity and Innovation (PIC) Scheme the cash
See MoreUK: Finance Bill 2016 Published
The UK Finance Bill for 2016 was published on 24 March 2016. The Bill contains tax measures announced in the Budget proposals on 16 March. Individual income tax As announced in the Budget the annual exempt amount for individual income tax is to
See MoreCanada: Proposal regarding CbC reporting in Budget 2016
Canadian Budget for 2016 proposes new legislation to strengthen transfer pricing documentation by introducing country-by-country reporting for large MNEs. The new transfer pricing documentation rules will follow the base erosion and profit shifting
See MoreUK budget announcements 2016
The UK budget announcements for 2016/17 were delivered on 16 March 2016. The Chancellor announced a business tax road map that is intended to support investment while continuing to crack down on avoidance and aggressive tax planning. Corporation
See MoreUK: Budget to be announced this week
The UK budget for 2016/17 is to be announced on 16 March 2016. As the UK’s economic outlook is not as favorable as outlined at the time of the Autumn Statement this year’s budget announcements are expected to contain some revenue-raising
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