International News
White House Defends Tax Policies
Friday, 27 August 2010A speech in Cleveland by the Republican minority leader in the United States House of Representatives, John Boehner, attacking the Obama administration’s tax policies, provoked an immediate response from the White House and Vice-President Joe Biden.
Read full storyEU To Improve Trade With China
Thursday, 02 September 2010European Tax Commissioner, Algirdas Šemeta, will open an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU.
Read full storyUK VAT Hike To Have 'Minimal' Impact On Retailers
Monday, 30 August 2010New research has suggested that the 2.5% rise in UK value-added tax, scheduled for next January, will have 'minimal impact' on the health of the retail sector.
Read full storyASEAN Ministers Review Free Trade Progress
Monday, 30 August 2010The meeting of the Association of Southeast Asian Nations Economic Ministers, held on August 24-25, 2010, in Da Nang, Vietnam, reaffirmed their resolve to ensure the realization of the ASEAN Economic Community in 2015.
Read full storyIslands Seek Leadership For Brussels Office
Tuesday, 31 August 2010The Channel Islands, Guernsey and Jersey, have announced that they are seeking to recruit high-calibre representatives for the roles of 'Director of European Affairs' and 'European Affairs Adviser' for the soon-to-be-opened Channel Islands’ Brussels office.
Read full storyIRS Issues Guidance On FATCA
Thursday, 02 September 2010The United States Treasury and the Internal Revenue Service have stated their intent to issue guidance on the reporting requirements imposed on foreign financial institutions by the enactment of the Foreign Account Tax Compliance Act on March 18, 2010 within the Hiring Incentives to Restore Employment Act.
Read full storyUK Businesses Dissatisfied with HMRC
Friday, 27 August 2010A report compiled on behalf of HM Revenue and Customs has revealed that 64% of large businesses have grown more despondent over the UK tax system during the last 12 months, leading to around 20% considering relocating abroad.
Read full storyTax Changes To Boost Turkish Derivatives Trade
Monday, 30 August 2010Çetin Ali Dönmez, chief executive of TurkDex, Turkey’s derivatives exchange, expects turnover on the exchange to rise significantly after the banking and insurance transaction tax and withholding tax on derivative products are scrapped this fall.
Read full storySpanish Tax Office VAT Assessments 'Unlawful'
Tuesday, 31 August 2010VAT assessment practices of the Spanish Tax Agency have been found unlawful by an administrative court.
Read full storyUS Home Sales Plunge After Tax Credit Expiry
Friday, 27 August 2010Existing home sales in the US were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of Realtors.
Read full storyNZ Legislates For GST, Pension Withdrawal Changes
Friday, 27 August 2010New Zealand’s Revenue Minister, Peter Dunne, has tabled legislative amendments to cut compliance costs before the upcoming increase to 15% in the goods and services tax rate on October 1 and the repeal of fund withdrawal tax.
Read full storyThailand Proposes Tax Breaks For Foreign Films
Monday, 30 August 2010To promote the increased use of Thailand as a site for international film-making, and support movie production in the country, the government has proposed tax incentives for foreign actors and filmmakers.
Read full storySouth Korea, Peru Finalise FTA Talks
Thursday, 02 September 2010It has been announced that South Korea and Peru have concluded negotiations on a free trade agreement that, it is hoped, will provide a boost to commercial ties between the two countries.
Read full storyCanada Proposes HST Relief For Status Indians
Thursday, 02 September 2010The Canadian Department of Finance has released proposed draft regulations necessary to facilitate, as agreed in June 2010, tax relief for status Indians in Ontario equivalent to the provincial portion of the Harmonized Sales Tax.
Read full storySAIPA Calls For South African Tax Ombudsman
Wednesday, 01 September 2010The South African Institute of Professional Accountants has suggested that the government should accelerate its consideration of whether to establish a tax ombudsman to adjudicate on public complaints about the South African Revenue Service.
Read full storyBIR Files USD120m Case Against Philippine Businessman
Tuesday, 31 August 2010As part of the Philippine government’s continuing attempt to improve tax collection to reach its revenue targets, the Bureau of Internal Revenue has filed charges against a local businessman for non-payment of PHP5.5bn in taxes.
Read full storyHK Changes Tax Practice On Prepayments
Friday, 27 August 2010Hong Kong’s Inland Revenue Department has issued a new amendment to its practice notes to clarify, in the situation where a profits tax return is filed by a foreign company, what accounting standards are acceptable for the preparation of financial statements.
Read full storyGermany Opposes EU Raw Materials Tax
Friday, 27 August 2010Germany’s Economics Minister Rainer Brüderle has categorically rejected a proposal put forward recently by the European Commission to introduce a tax on raw materials, emphasizing the need for a comprehensive strategy instead.
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