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International Tax »

China Confirms Electric Car Purchase Tax Exemption

A statement from the Ministry of Industry and Information Technology and State Administration of Taxation has confirmed that China has introduced an exemption from the present 10 percent purchase tax for electric vehicles, with effect from September 1, 2104. Continue Reading »

International Law »

Companies Bidding For UK Gov't Contracts 'Are Tax Compliant'

A review of the UK Government's Tax and Procurement policy has revealed that those wishing to bid for relevant contracts are "very mindful" of the need to be tax compliant. Continue Reading »

Politics & Economics »

Canada Posts Surplus As Tax-Take Improves

A 3.8 percent increase in tax revenues helped the Canadian Government post a budgetary surplus of CAD400m (USDD368m) for the first three months of the financial year. Continue Reading »

Offshore »

Hong Kong Relaxes Restrictions For REITs

The Securities and Futures Commission has announced that Hong Kong's revised Code on Real Estate Investment Trusts was gazetted on August 29, 2014, taking immediate effect. Continue Reading »

Business »

Shanghai FTZ Issues Further Development Plans

It has been announced by Shanghai's municipal government that, as part of the liberalization of services and trade within China's first pilot free-trade zone in the city, eight more international commodity trading exchanges will be established by 2015, while the policy of allowing for wholly foreign-owned international ship management companies is already bearing fruit. Continue Reading »

E-Commerce »

South Korea Plans Overhaul Of Taxes On Corporates

South Korea's Ministry of Strategy and Finance has announced its tax revision proposals for this year, confirming that it plans to introduce a tax on companies' additional cash reserves. Continue Reading »

Aviation »

Taiwanese Special Scheme For Foreign Firms Time Limited

The Ministry of Finance has reminded foreign companies engaged in certain industries in Taiwan that there is a time limit on the availability of the percentage expenses deduction allowed under Article 25 of the country's Income Tax Act. Continue Reading »

Marine »

HMRC Withdraws Fuel Duty Exemption

HM Revenue and Customs has announced the end of an exemption from fuel duty for the transport of staff members or business clients by corporate jet, helicopter or marine vessel, following the outcome of two cases at the European Court of Justice. Continue Reading »

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