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International Tax »

Canadian Tax Revenues Up

The Canadian Government has said that it remains on track to balance the budget in 2015, after the latest Fiscal Monitor showed that revenues increased by 3.8 percent and the deficit fell by CAD1.6bn (USD1.5bn) in the first two months of the fiscal year. Continue Reading »

International Law »

Freeport Reaches Mineral Export Tax Deal With Indonesia

Freeport-McMoRan has announced that, following a revision by the Indonesian Government of the January 2014 regulations regarding export duties, its Indonesian subsidiary has reached an agreement whereby it will resume full operations immediately, and recommence exports of copper concentrates, expected from August 2014. Continue Reading »

Politics & Economics »

Pressure Builds On Philippines To Raise Income Bonus Cap

The parliamentary pressure on the Philippine Government to raise the income tax exemption cap on an individual's 13th-month pay and other benefits, such as productivity incentives and Christmas bonuses, has ramped up another notch with the introduction in the House of Representatives of another bill. Continue Reading »

Offshore »

Isle Of Man Releases 2014 Budget

The Isle of Man's Finance Minister, Eddie Teare, has reported that the island is on track to rebalance its finances by the tax year 2015/16, and has proposed mainly compliance-related measures in this year's budget. Continue Reading »

Business »

Australian Winemakers Call For Action On New Zealand Tax Loophole

The Australian government is being pressured to close a tax loophole that allows winemakers in New Zealand to take advantage of a tax rebate intended to support domestic producers. Continue Reading »

E-Commerce »

US Senate Bill Lumps Online Sales Tax With Internet Moratorium

With the United States House of Representatives having recently passed the Permanent Internet Tax Freedom Act that would permanently extend a moratorium on internet access taxation, but with the more controversial Marketplace Fairness Act, which would allow states to impose sales taxes on online purchases, stuck in its Judiciary Committee, certain lawmakers have had the idea of linking the two into one bill in the Senate. Continue Reading »

Aviation »

Egypt Confirms USD25 Airport Departure Tax

Egypt has confirmed that it is adding a USD25 airport departure tax to flight fares to boost revenue for the cash-strapped state. Continue Reading »

Marine »

Philippine Bill Extends Shipping Income Tax Exemption

With the Philippine Overseas Shipping Development Act expiring this year, a bill has been introduced into the House of Representatives, seeking to extend the expiring income tax exemption granted to the country's shipping industry. Continue Reading »

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