Green Light For German Govt To Purchase Data Disc, by Ulrika Lomas, Tax-News.com, Brussels
Last updated 13 hours ago | Monday, February 08, 2010
German Chancellor Angela Merkel has defended the government’s highly controversial
decision to purchase the stolen data disc, containing the names of around 1,500
Germans believed to hold bank accounts illegally in Switzerland. [
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US Senators Seek Wall Street Bonus Tax, by Leroy Baker, Tax-News.com, New York
Last updated 12 hours ago | Monday, February 08, 2010
US Senators Barbara Boxer and Jim Webb (pictured) have proposed legislation that would impose a tax on large bonuses paid by Wall Street banks and other firms that benefited from billions of dollars of taxpayer assistance in 2009.
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China Complains To WTO On EU Shoe Tariffs, by Mary Swire, Tax-News.com, Hong Kong
Last updated 8 hours ago | Monday, February 08, 2010
China has followed through on its threat last December to lodge a formal complaint against the European Union with the World Trade Organisation about the extension of anti-dumping duties on Chinese made shoes.
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Nevis Ready To Become Major Player In Financial Services, by Phillip Morton, Investors Offshore.com
Last updated 8 hours ago | Monday, February 08, 2010
Speaking recently, Nevis’s Finance Minister Laurie Lawrence reiterated the government’s
commitment to establishing the territory as a major international player in
the world of financial services.
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Germany's Rüttgers Rebels Against Govt Tax Cut Plans, by Ulrika Lomas, Tax-News.com, Brussels
Last updated 10 hours ago | Monday, February 08, 2010
North Rhine-Westphalia’s Prime Minister, Jürgen Rüttgers, has
expressed his fierce opposition to the tax cut plans of the German coalition government,
three months ahead of the state elections.
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China To Enforce Tax And Registration System For E-Commerce,
by Mary Swire, Tax-News.com, Hong Kong
Last updated 9 hours ago | Monday, February 08, 2010
In accordance with 'Internet Information Services' (State Council Order No. 292), the Beijing Bureau of Industry and Commerce, responsible for business registration and regulation in China, said it wishes to revive 2008 plans to register and tax e-commerce in order to 'standardize its regulation and combat illegal Internet activities, promoting the integrity of the system'.
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ANZO Points To Investor Concerns On Proposed NZ Property Taxes,
by Mary Swire, Tax-News.com, Hong Kong
Last updated 9 hours ago | Monday, February 08, 2010
The management board of AMP NZ Office Trust, New Zealand’s largest
listed investor in prime commercial office property, while announcing its interim
results, has expressed concerns about the impact of two of recommendations included
in the recent report by New Zealand’s Tax Working Group.
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DTA Between IOM And Malta To Enter Into Force,
by Amanda Banks, Tax-News.com, London
Last updated 9 hours ago | Monday, February 08, 2010
The Isle of Man government has announced the imminent entry into force of a
comprehensive double tax agreement signed with Malta on October 23, 2009.
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Ireland Meets Minimum International Transfer Pricing Standards,
by Robin Pilgrim, LawAndTax-News.com, London
Last updated 9 hours ago | Monday, February 08, 2010
Irish Minister for Finance Brian Lenihan has included in his 2010 Finance Bill measures to regulate transfer pricing, bringing it into line with 1995 OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations, and updated to include revisions such as the those on intangible assets.
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Taiwan's President Wants FTA With Japan This Year,
by Mary Swire, Tax-News.com, Hong Kong
Last updated 9 hours ago | Monday, February 08, 2010
At a meeting with the new Japanese representative to Taiwan, President Ma Ying-jeou
said that, together with a further strengthening of bilateral ties in a number
of fields, he hopes Taiwan and Japan can conclude a free trade agreement this year.
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Interest Free Loan In Breach Of Arms Length Principle, Says Indian Tribunal,
by Mary Swire, Tax-News.com, Hong Kong
Last updated 9 hours ago | Monday, February 08, 2010
The Delhi Income Tax Appellate has decided in the case of Perot Systems TSI (India) Ltd. that an interest-free loan to associated enterprises would not be consistent with the arm’s length principle of the transfer pricing provisions and a notional arm’s length interest can be imputed on the loan and taxed.
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Pakistan Hopes To Obtain EU GSP+ Tariff Concessions,
by Mary Swire, Tax-News.com, Hong Kong
Last updated 9 hours ago | Monday, February 08, 2010
Zafar Mehmood, Federal Secretary for Commerce, at a meeting with the Karachi Chamber
of Commerce and Industry, has disclosed that Pakistan is to apply to the European
Union for tariff concessions for its goods exports under the Generalised
System of Preferences Plus arrangements.
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Lenihan Outlines Raft Of Tax Changes In Irish Finance Bill,
by Amanda Banks, Tax-News.com, London
Last updated 15 hours ago | Monday, February 08, 2010
Irish Finance Minister, Brian Lenihan has published the Finance Bill 2010,
which gives effect to numerous taxation measures announced in last December’s
budget, including a 0.5% cut in value-added tax and the introduction of a 'domicile levy'.
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Deutsche Bank To Pay UK GBP200m In Bonus Tax,
by Robert Lee, Tax-News.com, London
Last updated 15 hours ago | Monday, February 08, 2010
German banking group Deutsche Bank has announced that it intends to pay around GBP200m (EUR225m) to the British government as a result of the new bank payroll tax.
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Australian Government Refuses To Release Henry Tax Review,
by Mary Swire, Tax-News.com, Hong Kong
Last updated 15 hours ago | Monday, February 08, 2010
Australia’s Assistant Treasurer, Nick Sherry, has made a statement to parliament
confirming that the government has no intention of releasing the report of the
Henry tax review at this stage.
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Irish Tax Receipts Down 17%,
by Amanda Banks, Tax-News.com, London
Friday, February 05, 2010
With the dawn of a new year, the Irish government was hoping that the
January 2010 tax take figures would spark murmurs of hope for the Republic's
financial situation. The recently released figures, however, merely show that tax revenues were considerably lower than in 2009.
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Singapore And Japan Add TIEA Protocol To DTA,
by Mary Swire, Tax-News.com, Hong Kong
Friday, February 05, 2010
Singapore and Japan have signed a protocol to incorporate into their existing
double taxation agreement the new internationally-agreed Organization for
Economic Cooperation and Development standard for the exchange of information
for tax purposes.
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Ireland Leading Europe As An Innovation Hub, Survey Suggests,
by Jason Gorringe, Tax-News.com, London
Friday, February 05, 2010
A new pan-European business survey, released on February
1, 2010, has shown that the Ireland continues to lead the way in Europe
as a hub for private and family-owned enterprises involved in investing in
innovation, and in developing new products.
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Think Tank Rubbishes UK Patent Box Plans,
by Robin Pilgrim, LawAndTax-News.com, London
Friday, February 05, 2010
Despite being welcomed by Britain's creative and research-intensive industries, a leading think thank has argued that the government's proposed 'patent box' regime will fail to encourage innovation.
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St Vincent And The Grenadines 2010 Budget Presented,
by Phillip Morton, Investors Offshore.com
Last updated 15 hours ago | Monday, February 08, 2010
The Prime Minister and Finance Minister of St Vincent and the Grenadines, Ralph
Gonzalez, delivered his ninth budget speech this month.
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Australia's DTA With Austria To Be Updated,
by Mary Swire, Tax-News.com, Hong Kong
Friday, February 05, 2010
Australia’s Assistant Treasurer, Nick Sherry, has announced that negotiations
to update Australia's double taxation agreement with Austria will take place
in March 2010.
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Russian Ministry Of Finance Considers New Oil Tax Regime,
by Tatiana Smolenskaya, Tax-News.com, Moscow
Friday, February 05, 2010
Faced with a budget deficit rising from 5.9% to 6.8% of GDP in 2010, the Russian Ministry of Finance has set up a working group to report by March 1 on the affordability of zero export duties on oil from East Siberia and other means of incentivising development in the East.
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US Congress Debates Internet Sales Tax Question,
by Mike Godfrey, Tax-News.com, Washington
Last updated 15 hours ago | Monday, February 08, 2010
The US House Judiciary Subcommittee on Commercial and Administrative Law has sat to discuss 'State Taxation: The Role of Congress in Defining Nexus.' The Tax Foundation advocated a physical presence standard in written testimony, especially in an age of e-commerce.
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Mexican Water Boss Proposes Green Tax On Water,
by Mike Godfrey, Tax-News.com, Washington
Friday, February 05, 2010
Jose Luis Luege Tamargo, director of the National Water Commission (Conagua), has joined the debate on tax reform and recommended a tax on drinking water of about 1%, with revenues to be diverted to environmental projects, such as the re-forestation of upper watersheds.
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French Tax On Bankers' Bonuses To Support SMEs,
by Ulrika Lomas, Tax-News.com, Brussels
Friday, February 05, 2010
Estimated at around EUR360m, the product of the windfall tax levied on bonuses,
issued by France to market operators, is to be transferred in its entirety to
Oséo, the public bank working to support small- and medium-sized enterprises, under an amendment put forward by French Finance Minister Christine Lagarde.
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More Ambition Needed To Repair UK Public Finances, Study Suggests,
by Robert Lee, Tax-News.com, London
Friday, February 05, 2010
Whoever forms the government after the forthcoming general election in the UK should put in place a fiscal tightening more ambitious over the next Parliament than that set out in last month's pre-budget report, but without putting the recovery at undue risk with significant extra tax increases or public spending cuts in the coming year, researchers from the Institute for Fiscal Studies have argued.
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Shakeup May Involve Tax Increases, Warns Jersey,
by Amanda Banks, Tax-News.com, London
Friday, February 05, 2010
The Jersey government has warned that tax increases will likely be
an inevitable feature of government proposals to save GBP50m each year, starting
in 2011.
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UK Govt Revises Down 50% Tax Revenue Estimate,
by Robert Lee, Tax-News.com, London
Thursday, February 04, 2010
UK Treasury minister Lord Myners has said that the government expects revenues from the new 50% top rate of income tax will be much lower than expected as taxpayers arrange their affairs to avoid paying it.
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EU Approves Greek Stability Programme,
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, February 04, 2010
The European Commission has assessed Greece's
Stability Programme, and has approved the ambitious budget-deficit reduction
targets outlined, as well as the fiscal measures and structural reforms contained
in the programme.
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Recent UK Tax Changes Spark New Interest In VCTs,
by Robin Pilgrim, LawAndTax-News.com, London
Friday, February 05, 2010
With the end of tax year approaching, commentators are predicting a bumper year for UK Venture Capital Trusts in light of the forthcoming increase in the top rate of income tax in the UK, as well as the reduction in pensions tax relief for higher earners. In fact one commentator predicts demand to surge by 70% on the previous year.
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