Kenya: Budget for 2015-16
The Finance Bill for 2015-16 was passed as the Finance Act on 15 September 2015 in Kenya. The following changes were made to the main Budget measures prior to enactment: The corporate tax rate for a special economic zone enterprise, developer or
See MoreFrance: Draft Finance Bill 2016
The draft Finance Bill for 2016 has been presented in France. According to the proposals the income tax-exempt threshold will be increased to EUR9,700 (USD10,840). For income above this threshold the income tax rates will be reduced. The tax rates
See MoreDenmark publishes information on the Budget for 2016
The Danish government published information on the Budget for 2016 on 29 September 2015. The tax measures set out in the Budget, which will be presented to the parliament on 8 October 2015, include some important changes as summarized below: -
See MoreUruguay-Proposed Budget Bill for 2015-19
Uruguay’s government has submitted to the Congress the Bill of the National Budget for the years 2015 up to 2019 on 31 August 2015. If enacted the bill would make significant changes to the tax laws. According to the proposal, income derived from
See MoreNetherlands-Publish Budget Proposal for 2016
The Dutch Ministry of Finance published its budget proposals for fiscal year 2016 on 15 September 2015. The budget proposals cover several tax law changes, including the application of the recent modifications of the European Union (EU)
See MoreLatvia: Government approves draft budget for 2016
The Latvian government has agreed on a number of tax measures within the framework of the draft Budget for 2016. The most significant matters regarding next year's budget are to increase the minimum wage to EUR 370, to implement the differentiated
See MorePakistan: Budget for 2015/16
The Budget for the fiscal year 2015/16 (tax year 2016) was presented on 5 June 2015. The Budget proposals will basically take effect from 1 July. The proposed measures are summarized below: Corporate Tax: The corporate income tax rate is to be
See MoreKenya: Finance Bill for 2015
The Finance Bill 2015 was presented to the National Assembly on 11 June 2015. The Bill contains far reaching improvements to different laws and regulations as well as introducing new tax laws. Corporate taxation The corporate tax rate for a
See MoreUK: New budget announcements for 2015/16
On 8 July 2015 the UK government announced a further set of budget proposals for 2015/16. This summer budget 2015 follows the general election and contains revisions and additions to the original budget proposals presented in March
See MoreBangladesh: New Tax Provisions in Finance Bill 2015 Passed by Parliament
The Bangladesh Parliament passed the Finance Bill 2015 on June 29, 2015 with some changes in the tax provisions. The Finance Minister has increased the minimum amount of income tax for individuals residing in Dhaka and Chittagong. This year the
See MoreUganda: Budget for 2015
Uganda’s Finance Minister has presented the Budget for 2015. The Budget proposes raising the presumptive tax threshold from UGX 50 million to UGX150 million to develop tax compliance and increase tax certainty among small businesses. Thin
See MoreNew Zealand: Minister of Finance presents the Budget for 2015/2016
The Minister of Finance presented the Budget for 2015/2016 to Parliament on 21 May 2015. The Budget 2015/2016 deals only with domestic tax issues. The Budget contains the following proposals: Strengthening the tax rules applicable to property
See MoreUK government considers changes to taxation of non-domiciled individuals
The second UK budget for 2015 planned for 8 July 2015 could include changes to the UK tax rules for non-domiciled individuals. Non-domiciled individuals can elect to pay UK income tax on the remittance basis so that UK tax is only paid on foreign
See MoreUK: Government to deliver second budget for 2015
The UK government has indicated that a second set of budget proposals will be announced on 8 July 2015. This follows the recent election of 7 May 2015. The budget would clarify the expected government expenditure reductions and how they are to be
See MoreAustralia: Budget for 2015-2016 Includes BEPS Measures and Exposure Drafts for a New Targeted Anti-Avoidance Rule
The Government of Australia announced the 2015-2016 fiscal budget on May 12, 2015. Australia has included in the budget a country-by-country reporting requirement following the recommendation in the OECD/G20 action plan on base erosion and profit
See MoreCanada: Tax proposals in Manitoba budget 2015
The Ministry of Finance in Manitoba has delivered the province's budget for the year 2015. The budget does not propose any corporate or individual tax rate changes. The province budget 2015 proposals include: The Manitoba's budget increases the
See MoreNigeria: Budget proposal 2015 passed by parliament
The parliament has passed 2015 Budget proposal on 28th April 2015. There was a proposal in Budget to raise VAT rate but the rate is still 5%. Future information on this topic will be reported
See MoreAustria: First Details of Tax Reform
The Ministry of Finance published the first details of the planned Tax Reform on 20 March 2015. The amendments will generally be applicable with effect from 1 January 2016. Main changes of the reform are as follows: Individual tax: Reduction of
See More