In a recent meeting with the Organization for Economic Cooperation and Development Center for Tax Policy, the Labuan International Business and Financial
Center confirmed that it remains committed to upholding its legal
framework in line with internationally-agreed tax standards and best practices.
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’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.
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.
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.
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.
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.
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.
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.
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 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
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.
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’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.
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.
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.
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.
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.