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.
The government received the tax review at the end of last year, and said that it would consider the review for release early in 2010, along with an initial official response. The review, it had said, would lay the foundations for a 10-year plan for reform. Its release has also been widely anticipated as it has caused uncertainty in some areas, particularly in the mineral resources sector where there has been speculation of an increase in mining taxation.
However, earlier this month, following the announcement of the government’s far-reaching health and hospital reforms, the Prime Minister, Kevin Rudd, was reported as saying that he was now too involved and busy also to complete the details of the government’s reaction to the tax review, and that there was no target date for its release.
Various parties, however, continued to call for its early release, if only to allay the speculation about its contents and about which of its recommendations will eventually be taken up by the government. It seems that, under pressure, the government has had to react.
In fact, in a radio interview, Wayne Swan confirmed that, while the government was still pursuing its evaluation process, the tax review and the government’s initial response would be published “in plenty of time for a full public discussion about all of the issues raised.”
On being pressed on timing, he added that: “There will be plenty of time to discuss the review of the independent tax committee. There will be a full public debate in this country before the election.”.
Switzerland and the United Kingdom signed a DTA Protocol on November 30, 2017.
According to an update from the Liechtenstein Government, the new DTA with the United Arab Emirates will become effective from January 1, 2018.
According to preliminary media reports, the Netherlands and Liechtenstein held a first round of DTA negotiations over three days ending November 17, 2017.
Saudi Arabia's Cabinet on November 28, 2017, authorized the signing of a DTA with Bulgaria.
Bahrain's Cabinet has approved the signing of a new DTA with Hong Kong, the state news agency said November 13, 2017.
Hong Kong announced on November 24, 2017, that its DTAs with Pakistan and Latvia had entered into force.
Finland on November 2, 2017, confirmed that a new DTA signed with Germany will be effective from January 1, 2018.
The DTA between Cyprus and Iran will become effective from January 1, 2018.
India ratified a third Protocol to its DTA with New Zealand on November 2, 2017, publishing a Notice in its Official Gazette.
Gibraltar and the United Kingdom are considering launching negotiations towards a DTA, according to recent comments from the UK's Economic Secretary to the Treasury.
Barbados and Italy have exchanged instruments of ratification in respect of a DTA, which will now become effective from January 1, 2018.
Switzerland's Government on October 25, 2017, adopted a dispatch on the DTA concluded with Pakistan, enabling its ratification.
Spain and Portugal signed a DTA on October 18, 2017.
Pakistan and Latvia initialed a DTA on October 25, 2017.
Spain and Romania signed a DTA on October 18, 2017.
Denmark and Japan signed a DTA Protocol on October 11, 2017.
The Bahamas and Finland signed a Protocol to amend their TIEA on October 19, 2017.
The Dutch lower house of parliament on October 24, 2017, approved the ratification of a DTA signed with Zambia.
Cyprus and Mauritius signed a DTA Protocol on October 23, 2017.
According to preliminary media reports, Armenia and Iran are to enter into negotiations to revise their DTA.
The United Kingdom and Ukraine signed a DTA Protocol on October 9, 2017.
According to preliminary media reports, Spain's Cabinet on October 6, 2017, approved the signing of a DTA and accompanying Protocol with Finland.
Russia and Japan signed a DTA on September 7, 2017.
A new TIEA between the Isle of Man and Turkey entered into force on October 7, 2017.
The United Kingdom and Belarus signed a DTA on September 26, 2017.