Mexico Praised For Tax Transparency
Mexico was the only country to be rated fully compliant with international tax transparency standards out of ten jurisdictions that were issued ratings by the Organisation for Economic Cooperation and Development on August 8, 2014.
OECD Releases New Peer Review Reports
On August 4, 2014, the Organization for Economic Cooperation and Development's Global Forum on Transparency and Exchange of Information for Tax Purpose published peer review reports and compliance ratings for a new batch of jurisdictions.
Hollande Praises Andorran Tax And Economic Reforms
French President and Co-Prince of Andorra François Hollande praised
the Andorran Government's decision to open up the nation's economy
and reform the tax system in the wake of the financial crisis during a recent
visit to the Principality.
Andorra Credit Outlook Negative Despite Fiscal Reforms
Despite an ongoing reform of the Andorran tax structure and efforts to diversify the economy, international ratings agency Standard and Poor's
has attached a negative outlook to Andorra's A-/A-2 long- and short-term
sovereign credit ratings.
Andorra Firms Up IRPF Income Tax Plans
Andorran Finance Minister Jordi Cinca has provided further clarification on provisions
contained in the Government's bill, providing for the introduction of a
tax on individual income in Andorra.
Andorra, EU Initiate Savings Tax Talks
Andorran Prime Minister Antoni Marti has held talks with European Tax Commissioner
Algirdas Šemeta, with the discussions focusing on the adopted mandate of the
European Council of Ministers regarding negotiations with third countries on
extending the savings tax directive, to close loopholes.
France, Andorra May Reach Comprehensive DTA
A meeting between French President François Hollande, President of the Andorran parliament Vicenç Mateu Zamora and Head of the Andorran Government Antoni Marti at the Elysée Palace in Paris, discussed a new comprehensive DTA between France and Andorra.
Colombia, Portugal Sign DTA
A double taxation agreement signed between Colombia and Portugal adds to those already concluded by Colombia with Spain, Switzerland, Chile, Canada, Mexico and South Korea.
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.
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.
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.
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.
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.
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