Latest Tax News

Swan Unveils Australian Tax System Overhaul
16/05/2013

Australia is facing its second largest revenue write-down since the Great Depression, Treasurer Wayne Swan has said, announcing a raft of new tax measures in his latest Budget.

Tunisia Embarks On Comprehensive Tax Reform
16/05/2013

Tunisian Finance Minister Elyes Fakhfakh has announced that the Government has now launched its planned reform of the country's tax system.

Jersey Tightens Money Laundering Law
15/05/2013

Jersey's Financial Services Commission has released the results of an industry consultation on proposed revisions to the Money Laundering (Jersey) Order 2008.

Guernsey Expands Tax Cooperation Network
15/05/2013

Guernsey has confirmed the signing of its seventh double tax agreement since the beginning of 2012, with Luxembourg, adding to its network of agreements with provisions for the exchange of information on request in line with international best standards.

Liechtenstein Set For Talks On Automatic Information Exchange
15/05/2013

Underlining the commitment of the new Liechtenstein Government to pursuing a white money strategy, Prime Minister Adrian Hasler made it clear that the Principality is "open" to the idea of an automatic exchange of information and is willing to enter into talks.

Hungary Ready To Raise Taxes
15/05/2013

Hungary's Minister of National Economy, Mihály Varga, has indicated that the Government is prepared to raise special taxes on banks, the tax paid by energy suppliers, and the financial transactions tax, should other measures to ensure the lifting of the European Commission's excessive deficit procedure prove insufficient.

Belgium's Geens Eyes End To Savings Tax Perk
15/05/2013

Provoking fierce opposition from both the Flemish Liberals and Socialists, Belgium's Finance Minister Koen Geens has called for an end to a highly popular savings tax break.

Antigua Reins In Budget Deficit
14/05/2013

The International Monetary Fund has praised the significant progress achieved by authorities in Antigua and Barbuda in implementing broad fiscal reforms and slashing the territory's sizable deficit.

Québec Unveils Mining Tax Regime
14/05/2013

The Québec Government has unveiled its plans for a new mining tax system as part of a wider initiative to make the Canadian provinces "one of the most prosperous places in the world."

Luxembourg Abandons 'Unrealistic' Withholding Tax Model
14/05/2013

Luxembourg's Finance Minister Luc Frieden has made clear that the withholding tax model "has no future," as an instrument under the Savings Tax Directive with which to combat tax evasion and ensure tax compliance.

British Bankers' Association Slams FTT
14/05/2013

The chairman of the British Bankers’ Association, Sir Nigel Wicks, has written to the Governor of the Bank of England warning that the European Commission has “seriously underestimated the cascading effect” of a planned Financial Transaction Tax in part of the European Union, and urging the Bank “to consider whether there may be broader threats to monetary policy, financial stability and the wider economic interests of the EU arising from the introduction of this tax as currently devised.”

NZ Consults On GST Treatment Of Bodies Corporate
13/05/2013

The New Zealand Inland Revenue Department is seeking feedback on the goods and services tax treatment of bodies corporate.

Zurich Divided Over 'Fat Cat Tax' Initiative
13/05/2013

Opponents of the Young Socialists' "fat cat tax" initiative have warned that the levy will not only affect a small group of multimillionaires, but will also penalize savers, pensioners, and businesses in the Swiss canton of Zurich, if adopted in the upcoming vote.

Barroso Calls For Progress On Anti-Evasion Initiatives
13/05/2013

The European Commission is to present legislative proposals for extending the scope of automatic exchange of information, Jose Manuel Barroso has confirmed.

France, Germany Renew Joint Tax Drive
13/05/2013

Following a recent gathering of the Franco-German Economic and Financial Council in Berlin, German Finance Minister Wolfgang Schäuble and his French counterpart Pierre Moscovici issued a joint declaration, underlining their commitment to increased cooperation between the two countries, particularly in the area of tax harmonization and combating international tax evasion.

South Korea To Provide Tax Incentives For Start-Ups
10/05/2013

South Korea's Minister of Strategy and Finance Hyun Oh-seok has promised that the Government will introduce a range of measures, including tax incentives, to encourage and help the start-up businesses that, it is hoped, will provide good jobs and be an engine for future growth in the economy.

Andorra Unveils First Indirect Tax Revenue Figures
10/05/2013

Andorran Finance Minister Jordi Cinca has recently presented to the Council of Ministers a preliminary assessment of revenues collected from the country's General Indirect Tax, for the first quarter of 2013.

Austria Eyes US FATCA Deal
10/05/2013

Austrian Chancellor Werner Faymann has announced plans to enter into talks with the US and with the Organization for Economic Cooperation and Development, aimed at combating tax fraud and tax evasion.