Netherlands: The new Dutch Government publishes Policy Paper
The new Dutch government published its Policy Paper on 10th October 2017. The paper highlights the policy of the new Dutch government for the next four years. The new four-party coalition government was formed after extensive negotiations after the
See MoreIreland: Budget for 2018
On 10 October 2017, the Irish government presented details of the Budget 2018. This budget delivers the Government’s long standing target of balancing the books in structural terms next year by reaching the Medium Term Budgetary Objective better
See MoreVenezuela: New reduced VAT rate for electronic purchases
The National Integrated Service of Customs and Tax Administration (SENIAT) declared that as of September 27, 2017, the standard value added tax (VAT) rate in case of electronic purchases will be reduced by 3% or 5%. In the General Assembly of
See MoreUAE: President issues VAT Decree Law
The President of the United Arab Emirates, Shaikh Khalifa Bin Zayed Al Nahyan, issued Federal Decree-Law No. 8 of 2017 for Value-Added Tax (VAT) on August 28, 2017. This is a primary step for implementing VAT in the UAE as of January 2018. The
See MoreOECD: Revenue Statistics in Asian Countries
On 20 July 2017 the OECD published the latest edition of its publication Revenue Statistics in Asian Countries. This covers trends of revenue statistics in Indonesia, Japan, Kazakhstan, Korea (Rep), Malaysia, Philippines and Singapore between 1990
See MoreBangladesh: Parliament passes Budget for 2017-18
On 29 June 2017, the parliament of Bangladesh has passed a Tk 4,00,266 crore national budget with some changes to the excise duty on bank accounts and Value Added Tax (VAT) proposals for the fiscal year 2017-18. On 1 June 2017, the Finance
See MoreTanzania: 2017 Budget effective from July 1, 2017
The Minister for Finance and Planning (MoFP) on 8 June 2017, issued to the National Assembly the estimates of government revenue and expenditure for 2017. The government plans to organise and spend TZS 31,712.0 billion in the 2017/18 budget. The
See MoreHungary: Parliament approved Budget Bill for 2017/18
The Hungarian Minister of Economy presented the Budget Bill to the Parliament on 2 May 2017 which was approved on 13 June 2017 with 127 votes in favour and 62 votes against. The Budget targets a GDP growth of 4.3 percent, with 4.1 percent projected
See MoreBangladesh: Budget 2017-18
On 1 June 2017, the Finance Minister Mr. Abul Maal Abdul Muhith presented the annual national budget of an outlay of TK 4 trillion for the fiscal year 2017-18. In the proposed budget, the finance minister has targeted a GDP growth rate of 7.4 per
See MoreQatar: Cabinet approves draft law on income tax and VAT
On 3 May 2017 the Prime Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al-Thani chaired the Cabinet's ordinary meeting. During its ordinary meeting, the Cabinet approved a draft law on income tax and some of its draft executive regulations. A
See MoreUAE: Information regarding proposed VAT regime reveals
The Finance Ministry (MoF) presented a value added tax (VAT) briefing session for advisors on 21st March 2017. The session expected to send a message to the market that VAT is approaching and businesses must start to prepare immediately. The
See MoreNigeria: Proposal in tax policy measures published
The Economic Growth and Recovery Plan for 2017 to 2020 has been published on 7th March 2017 by the Ministry of Budget and Economic Planning. It made a proposal on VAT rate in case of luxury goods increases to 15% from 5% and it will effect from
See MoreCanada: New Brunswick Budget 2017 presented
The New Brunswick Province Budget 2017 was delivered on 7th February 2017 by the Finance Minister. The budget decreases the small business income tax rate from 3.5% to 3% that will be effective from 1st April
See MoreTurkey: VAT rates and stamp duty on certain goods amended
The Decree No. 2017/9759 for amending the tax rates of the special consumption tax (SCT), VAT and stamp duty on certain goods and transactions was published in the official gazette on 3rd February 2017. A zero per cent rate is set for household
See MoreArgentina: Resolution 3,982.E regarding Simplified System published
The General Resolution 3,982.E has been published in the official bulletin of 6th January 2017 and came into force on the same date. It re-categorizes all taxpayers (excluding corporations) registered in the Simplified System. If taxpayers believe
See MoreColombia increases VAT rate to 19%
Colombia is due to increase its value-added tax (VAT) rate from 16 percent to 19 percent. The measure was included in a tax reform bill that was recently approved by Congress. The increased rate would come into effect from 2017. Currently VAT
See MoreGreece: Bill amending Income Tax Code and VAT Code on electronic payments gazetted
The Bill amending the Income Tax Code, Procedural Tax Code and VAT Code on electronic payments and voluntary disclosure of undeclared income has been gazetted in the Official Government Gazette on 22nd December 2016. This draft bill regarding
See MoreGreece: Draft bill on electronic payments adopted
The draft bill regarding electric payments has been adopted by the parliament on 21st December 2016 and it was presented to the parliament for approval on 12th December 2016. On the basis of the adopted text, companies that receive transactions by
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