Switzerland, UAE Sign DTA
Switzerland and the United Arab Emirates have recently signed in Dubai a double
taxation agreement in the area of taxes on income, containing provisions
on the exchange of information in line with the internationally applicable standards.
Bangladesh, UAE Initial Investment Agreement
The United Arab Emirates Ministry of Finance has announced the initialling
of an agreement with Bangladesh for the protection and promotion of investments, to complement
the double tax agreement initialled by both parties in May 2010.
UAE, Ireland Sign DTA
Ciarán Madden, Ireland's Ambassador to the United Arab Emirates, and Younis Haji Al Khoori, Director
General of the UAE Ministry of Finance, have signed a Double Taxation Convention
on behalf of their respective countries.
UAE Expands Its Tax Treaty Network
The United Arab Emirates Ministry of Finance has announced the signing of conventions
for the avoidance of double taxation and fiscal evasion with Venezuela on June
8, and with the Netherlands on June 2. The country also initialed an additional
double tax agreement with Libya on June 10 in the second round of negotiations
with the country.
NZ Emissions 'Tax' Attacked
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
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.
Orascom Loses Algerian Tax Appeal
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.
Switzerland, Slovakia Initial Revised DTA
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
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.
Malaysia Not Cancelling GST
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.
Australia Promised Full Debate On Tax Review
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.
OECD Urges Fiscal Policy Shift
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.
BVI To Review Taxes And Fees
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.
IRS Offers Help To Struggling Taxpayers
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
Jersey Riding Out Onshore Storm
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.
Tax Relief For California Storm Victims
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
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.
Norway Urged To Revise Fiscal Policy
The Organization for Economic Cooperation and Development has called on Norwegian
authorities to revise fiscal policy in light of the nation’s recovering
Amazon Retaliates Against Colorado
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.
Bahrain And UK Sign DTA
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
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.
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