Portugal Expands Tax Treaty Remit

24/6/2011

Portugal is to add to its collection of tax treaties still further, with the announcement that negotiations have been concluded with two key countries, and that a new tax information exchange agreement has been signed.

NZ Emissions 'Tax' Attacked

15/3/2010

The ACT New Zealand Party, a member of the country’s present coalition government, has continued its opposition to New Zealand’s new carbon emissions trading scheme, calling it a tax that will increase inflation in the economy.

Hong Kong Property Taxes Reviewed

16/3/2010

Hong Kong’s Financial Secretary, John C Tsang, made the traditional post-budget speech at the Joint Business Community Luncheon on March 12 and, in particular, reviewed the tax measures taken to increase the transaction cost of property speculation so as to reduce the risk of a property bubble being created.

Switzerland, Slovakia Initial Revised DTA

12/3/2010

It has recently emerged that Switzerland and Slovakia have initialled a revised bilateral double taxation agreement, containing the Organization for Economic Cooperation and Development’s standard on tax information exchange.

UK Budget To Hit The Rich

12/3/2010

Wealthy individuals may have less than two weeks to put plans in place to reduce the tax impact of the Chancellor’s pre-election Budget, warns PKF Accountants and business advisers.

Orascom Loses Algerian Tax Appeal

12/3/2010

Egyptian telecom company, Orascom Telecom, has announced that its Algerian subsidiary, Orascom Telecom Algérie, has received a rejection to its appeal, made in December last year, against the notice for taxes and penalties it had received from the Algerian tax authorities the month previously.

Australia Promised Full Debate On Tax Review

15/3/2010

Following indications that the Australian government was thinking of a delay to the release of the Henry tax review, the Treasurer, Wayne Swan, has now confirmed that it will be issued in good time for a full debate on any proposed tax changes.

Malaysia Not Cancelling GST

12/3/2010

After a government meeting, Malaysia’s Second Finance Minister, Datuk Seri Ahmad Husni Hanadzlah, has rejected any suggestion that the proposed introduction of a goods and services tax has been cancelled.

BVI To Review Taxes And Fees

15/3/2010

British Virgin Islands Prime Minister, Ralph O’Neal has said that the territory will run a budget surplus during 2010, although the government still intends to review indirect taxes and fees on financial services.

Germany Approves Liechtenstein TIEA

15/3/2010

Germany’s Cabinet has recently approved a bill pertaining to the bilateral tax information exchange agreement with Liechtenstein.

UAE Completes VAT Study

12/3/2010

Authorities in the United Arab Emirates are inching closer to the introduction of a value-added tax.

IRS Offers Help To Struggling Taxpayers

14/3/2010

The US Internal Revenue Service has announced several additional steps it is taking this tax season to help people having difficulties meeting their tax obligations because of unemployment or other financial problems.

Baucus Seeks Trade Preference Reform

15/3/2010

Senate Finance Committee Chairman Max Baucus is leading efforts for reform of US trade preference programs accorded to developing countries.

Jersey Riding Out Onshore Storm

15/3/2010

Jersey will overcome the evolving challenges being faced by offshore international financial centres, Geoff Cook, Chief Executive of Jersey Finance, told participants at a Breakfast Briefing in London.

OECD Urges Fiscal Policy Shift

12/3/2010

Governments must now gear their economies towards jobs, international competitiveness and increasing the tax-take, the Organization for Economic Cooperation and Development has said in its latest ‘Going for Growth’ report, analyzing the next step for recovering economies.

Tax Relief For California Storm Victims

11/3/2010

The State of California’s Franchise Tax Board on March 9 announced special tax relief for California taxpayers affected by the recent severe winter storms that started in January.

Belgium's Kilometer Tax Opposed

11/3/2010

The Humanist group cdH of the Walloon parliament in Belgium has rejected the idea of a road tax levied per kilometre travelled, advocating instead the introduction of an inclusive road tax disc, which could then be modified to take certain environmental criteria into account.

Bahamas Achieves White-Listing

12/3/2010

The Bahamas has achieved a place on the Organization for Economic Cooperation and Development's ‘white list’ following the signing of Tax Information Exchange Agreements with the seven Nordic economies of Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden, on March 10.

Amazon Retaliates Against Colorado

11/3/2010

Amazon.com cut ties with its Colorado affiliate marketers on March 8 after the US state forged ahead with its plan to introduce a mandatory Internet sales tax on e-businesses with an annual turnover exceeding USD100,000.

Norway Urged To Revise Fiscal Policy

11/3/2010

The Organization for Economic Cooperation and Development has called on Norwegian authorities to revise fiscal policy in light of the nation’s recovering economy.

US Senate Approves Tax Extenders Bill

12/3/2010

US Senate Finance Committee Chairman Max Baucus has applauded the Senate’s passage of legislation to extend tax cuts, unemployment insurance benefits and eligibility for unemployment benefits and health care for unemployed workers through the end of 2010.

MEPs Push EU Tobin Tax

12/3/2010

In a recently adopted resolution, the European Parliament has emphasized the need to develop plans for a global tax to discourage excessive risk-taking by financial institutions and to ensure that the financial industry pays for damage caused by the financial crisis.

Bahrain And UK Sign DTA

11/3/2010

The Kingdom of Bahrain’s Minister of Finance, Shaikh Ahmed bin Mohammed Al Khalifa, and UK ambassador, Jamie Bowden, signed a comprehensive double taxation agreement between the two countries in Manama on March 10.

Australia And Chile Sign DTA

11/3/2010

Australia’s Assistant Treasurer, Nick Sherry, has announced that Australia and Chile have signed a comprehensive bilateral double taxation agreement – the second such agreement between Australia and a South American country.

Swiss-German Tax Talks Resume

12/3/2010

During a recent visit to Berlin, Switzerland’s State Secretary Michael Ambühl, Head of the State Secretariat for International Financial Matters in the Federal Department of Finance, met with representatives of Germany's Federal Ministry of Finance and Federal Chancellery to exchange ideas on current financial and tax policy issues.