Pakistan: Tax law changes enacted in Finance Act 2013
Pakistan’s Finance Act 2013 implements the tax changes proposed in the budget for 2013. The changes came into force from 1 July 2013. The Finance Act 2013 includes following tax provisions: Change the rules on the taxation of property income,
See MoreUruguay: National Assembly presents Budget Bill 2012
The government of Uruguay presented a Bill to the National Assembly on 30 June 2013 that reviews the 2012 Budget. Capital gains on bearer shares have become subject to individual income tax (IRPF) and non-resident income tax (IRNR) unless particular
See MoreSouth Africa Consults On Budget Tax Reform Bill
On 4 July 2013 the National Treasury published the 2013 draft Taxation Laws Amendment Bill (TLAB) and the Tax Administration Laws Amendment Bill for public comment. The draft legislation would give effect to most of the tax proposals announced in
See MoreSlovenia: revised budget approved
The Government of the Republic of Slovenia approved the draft revised budget for 2013 on 20 June 2013. The main reason for drafting a revised budget for 2013 was the waning macro-economic forecasts in comparison with the forecasts relevant when the
See MoreIsrael: Budget for the FY 2013-2014
Israeli cabinet has approved the Budget for fiscal year 2013-2014. The VAT rate has been raised to 18% as from June 1, 2013 (previously 17%). The corporate income tax rate has been increased to 26% from 25% and the personal income tax rate will be
See MoreTanzania: Tax proposals for 2013 budget
The Tanzanian Budget for 2013 was presented to the National Assembly by the Minister of Finance and key changes made by the Budget proposals are summarized below: Reduction of the minimum tax rate for individuals from 14% to 13%. Abolition of a
See MoreKenya: Tax proposals in the 2013/14 budget
The National Assembly by the Cabinet Secretary to the National Treasury was presented the Budget for 2013-14 on 13 June 2013 . Capital gains tax has been re-introduced and applies to real estate, marketable securities and other saleable assets.
See MoreAustralia: Budget 2013
The Australian government released its budget for 2013 on May 2013. It includes plans for a number of revenue / tax expenditure changes including measures to combat profit shifting. According to the budget, business entities will be eligible for
See MoreSweden: tax proposals in 2013 spring budget
The government of Sweden submitted to Parliament a budget bill on 15 April 2013 that proposes domestic tax changes. The measures include improving incentives to work, strengthening the income tax credit further and increasing the lower threshold for
See MoreIreland: Finance Act 2013
The Irish Finance Bill 2013, which was published on 13 February 2013, was enacted on 27 March 2013 as the Finance Act 2013. Modifications have been made to the tax regime for start-up companies. These companies currently are not required to pay
See MoreUK Finance Bill 2013 published
Following the Budget announcements on 20 March, the UK published the Finance Bill 2013 on 28 March 2013. The Bill includes a reduction in the main rate of corporation tax to 21% in 2014 and to 20% in 2015. Explanatory Notes to the Finance Bill have
See MoreCanada – 2013 budget announcements
The Canadian budget proposals for 2013 were announced on March 21, 2013. The proposals include measures to combat tax evasion and to provide some help for companies in the manufacturing and mining sectors. There is no change to the corporate tax
See MoreUK-Budget announcements for 2013
The Chancellor of the Exchequer presented the 2013 Budget to Parliament on 20 March, 2013. The draft Finance Bill is to be published on 28 March. As previously announced, the main rate of corporation tax will be reduced from 23% in April 2013 to 21%
See MoreSingapore: Budget for 2013
The Budget for 2013 was presented to Parliament by the Finance Minister on 25 February 2012. The Budget aims at increasing productivity and growth. Major changes include income tax rebates and restructuring of the Progressive Property Tax Regime
See MoreNamibia: Budget for 2013-14
The Minister of Finance of Namibia presented its Budget for 2013-14 to the National Assembly on 26 February 2013. Details of the Budget, which unless otherwise indicated will apply from 1 March 2013. In the Budget 2013-14 it has been proposed for
See MoreIndia: Budget for 2013
According to the Indian Budget 2013, the Government is considering for following major tax initiatives: the introduction of a Direct Tax Code (DTC), a goods and services tax (GST) and General Anti-Avoidance Rules (GAAR). The main changes are
See MoreMalaysia has passed the budget for 2013
The Government of Malaysia has passed the Budget for 2013, on 10 January as the Finance Act
See MoreSpain’s Budget for 2013
The Spanish Government approved the Budget for 2013 as law 17/2012 on 28 December 2012. The Law generally applies from 1 January 2013. Key points of the budget are summarized below: Corporate taxation For capital gains the indexation percentage
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