Australian Treasurer Scott Morrison has said that the Labor Party would introduce uncompetitive tax rates that would increase the annual tax burden on the economy by AUD31bn (USD24.5bn).
In an address to a Bloomberg event in Sydney, Morrison said: "You don't grow the economy by taxing Australia out of business. You don't support Australian households by taxing Australians out of [a] job."
"You grow the economy by pursuing the economics of opportunity, not the politics of envy. By making it easier for businesses to invest, grow, and create jobs."
According to Morrison, had Labor won the last election and implemented the tax policies in its manifesto, taxes as a share of GDP would have risen to 25.7 percent. The Coalition has set a tax-to-GDP cap of 23.9 percent over the medium term.
Morrison argued that Labor's proposals would result in the introduction of six new taxes.
Morrison said that the abolition of negative gearing would equate to a housing tax, while an increase in capital gains tax would represent an investment tax. Reversing the Coalition's tax cuts and concessions for businesses with annual turnover of up to AUD50m would amount to an SME tax, and increasing the tax on distributions on family trusts would be a "family business tax."
Finally, Morrison described Labor's plan to increase to the tax on superannuation contributions as a "savings tax," and its proposed increase to the top marginal income tax rate as a "higher wage tax."
Morrison estimated that these measures would cost more than AUD150bn over ten years and would mean "gluing the Australian economy to some of the most uncompetitive taxes in the OECD."
Hungary and Kyrgystan have begun DTA negotiations, the Hungarian Ministry of Foreign Affairs and Trade announced on February 28, 2018.
Morocco and Cape Verde will begin DTA negotiations in March 2018, Morocco's Tax Agency announced.
The DTA signed between Mexico and Saudi Arabia entered into force on March 1, 2018, following the publication in Mexico's official Gazette of a law ratifying the agreement on February 26, 2018.
Bangladesh and Morocco signed a DTA on March 1, 2018.
Meeting over two days ending February 28, 2018, representatives from Pakistan and the Philippines agreed to renegotiate their DTA.
The UK and Mauritius signed a DTA on February 28, 2018.
Singapore signed a DTA with Tunisia on February 27, 2018.
Bahrain's King, Hamad bin Isa Al Khalifa, has approved a law ratifying the DTA Protocol signed with the Philippines, state media reported on February 20, 2018.
The Luxembourg Government on February 23, 2018, reported it is pushing for the negotiation of an amended DTA with Oman.
According to a monthly update from the Mexican Government, Mexico's DTA with Jamaica entered into force on February 24, 2018.
According to preliminary media reports, Switzerland's upper house of parliament of February 26, 2018, approved laws to ratify the DTAs signed with Kosovo and Pakistan and a Protocol with Latvia.
The Luxembourg Government announced that it is engaged in DTA negotiations with 15 countries, in a January 29, 2018, update, including newly DTA negotiations with the UK.
Ireland and Ghana signed a DTA on February 7, 2018.
According to a statement from the President's office, Iran's Cabinet on February 18, 2018, approved the signing of DTAs with Sweden, Lithuania, and Japan.
On February 19, 2018, the Philippines Senate adopted three resolutions ratifying agreements for the avoidance of double taxation with Mexico, Thailand, and Sri Lanka.
Japan and Spain have agreed a DTA in principle, to replace their existing pact, the Japanese Ministry of Foreign Affairs announced February 21, 2018.
The Armenian Ministry of Finance said February 22, 2018, that a DTA had been initialed after four days of negotiations with Iraq.
India's Ministry of Finance on February 22, 2018, revealed that an updated DTA between India and Kenya had been published in the Official Gazette, to replace the agreement in place between the two countries since 1985.
South Africa's DTA Protocol with Brazil entered into force on February 10, 2018.
Moldova's Cabinet on January 31, 2018, approved a law to ratify the DTA signed with Georgia in November 2017.
According to preliminary media reports, Kazakhstan's Senate on February 15, 2018, approved a law to ratify a Protocol to the DTA with Azerbaijan.
Poland published an order in its Official Gazette on February 8, 2018, to bring the DTA signed with Ethiopia in 2015 into force. The agreement entered into force on February 14, 2018.
Paraguay's Government on February 11, 2018, announced the signing of a DTA with Qatar.
Guernsey's TIEA with Portugal will enter into force March 15, 2018, according to a February 20, 2018, update from the Guernsey Government.
The Botswana Government has announced that the country will sign a DTA Protocol with Zimbabwe by the end of the year.