Search Results for: tax
UK Legislates For 2016 Budget Tax Changes
March 29th, 2016
The UK Government has introduced legislation to implement a range of tax measures announced in the Budget, including changes to income tax thresholds and a corporation tax cut. Finance Bill 2016 was introduced in Parliament on March 24. It ...
HMRC investigations into underpaid ‘sin taxes’ yield £1.6 billion
March 29th, 2016
6% more than the £1.5 billion raised last year According to our research, HMRC investigations into underpayments of ‘sin taxes’ on cigarettes, alcohol yielded £1.63 billion in extra tax this year, up 6% on the £1.54 billion raised the ...
IMF and China’s State Administration of Taxation Strengthen Technical Cooperation on Tax Policy and Administration Reform in China
March 28th, 2016
China’s State Administration of Taxation (SAT) and the International Monetary Fund (IMF) signed today in Washington a Letter of Understanding (LOU) on a technical cooperation project on advancing tax policy and administration reform in China. IMF Deputy Managing Director ...
China Looks at Introducing Tax on Foreign Currency Transactions
March 24th, 2016
China is looking at introducing a tax on foreign currency transactions, among other measures, to curb speculative capital flows, even though outflows have recently slowed, a senior foreign-exchange regulatory official said Tuesday. Wang Yungui, the head of the regulation department ...
HMRC Welcomes Bank Bonus Tax Scheme Ruling
March 22nd, 2016
HM Revenue and Customs (HMRC) has welcomed a court ruling against a major tax avoidance scheme used by banking giants UBS and Deutsche Bank, in which the agency successfully argued that the scheme had been designed to avoid around ...
Drinks makers consider legal action against sugar tax
March 21st, 2016
New tax will add 24p a litre to soft drinks with the highest sugar content and cost £1bn to implement Soft drink makers are considering taking legal action against the government over its controversial sugar tax as George Osborne’s ...
Sugar tax surprise in Budget – but growth forecasts cut
March 17th, 2016
George Osborne has unveiled a tax on sugary drinks in a wide ranging Budget dominated by gloomier growth forecasts. The chancellor blamed the slowdown on a “dangerous cocktail” of global risks and said the UK had to “act now ...
Amazon’s Italy Chief Says Company Under Probe for Tax Evasion
March 16th, 2016
Amazon.com Inc. is under investigation in Italy for alleged tax evasion, Francois Nuyts, Amazon’s chief for Italy and Spain, said in an interview Tuesday. The Seattle-based online retailer is cooperating with the probe, Nuyts said. “Amazon pays all applicable ...
OECD: Greece will be on the top of countries regarding taxes withheld from salaries and pensions
March 15th, 2016
Taxes take half of high salaries The government will send Greece to the top of the chart among the countries of the eurozone and the Organization for Economic Cooperation and Development (OECD) in terms of taxes withheld from salaries ...
Kuwait approves economic reforms including the introduction of a 10 per cent Corporate tax
March 15th, 2016
Kuwait approves 10 per cent corporate tax, other reforms as deficit widens Kuwait’s cabinet has approved economic reforms including the introduction of a 10 per cent tax on corporate profits to narrow a budget deficit caused by low oil ...
