International Tax News OECD's Action 5 BEPS Work Producing 'Tangible Results'
Countries have made substantial progress in ensuring that their preferential tax regimes do not give rise to base erosion and profit shifting issues, according to the OECD's new peer review report under Action 5 of the BEPS Action Plan. African Countries' Tax Bases Expanding, New Report Says
African countries are steadily improving their tax revenue collections, according to Revenue Statistics in Africa 2017, a new report released recently at a meeting of tax and finance officials from 21 African countries. UK Should Require More Tax From Self-Employed: OECD
The UK Government should revive its abandoned plan to increase National Insurance contributions (social security tax) for the self-employed, says the OECD in a new report. New Zealand Releases GST Zero Rate Guide
New Zealand's Inland Revenue has released guidance on zero-rated treatment under the goods and services tax (GST) regime, explaining what goods and services should be subject to a zero rate, how to account for and report such transactions, and special rules. Portugal Plans Tax On Salty Foods
Portugal has announced plans to introduce a tax on salty foods to raise funds for health-related spending. A Steady Income Taxed Less In Canada
A new report has claimed that Canadians whose incomes are irregular or fluctuate year-by-year face a greater tax burden than those with steady incomes. Australia Clarifies Tax Rules For Passive Investment Companies
The Australian Government has introduced legislation that will clarify that passive investment companies cannot qualify for the small business company tax rate. Brazil's Rio De Janeiro To Levy 'Netflix Tax'
Brazilian city Rio De Janeiro is planning to introduce tax on online streaming services such as Netflix and Spotify. Grenada Gears Up For FATCA
Grenada's Inland Revenue Division has completed a series of training exercises for its staff and the island's financial institutions in preparation for the start of reporting under the US Financial Account Tax Compliance Act. Canadian Gov't Commits To SME Tax Cut
The Canadian Government has announced plans to lower the small business tax rate and has signalled its intention to amend its controversial reforms to tax planning rules. OECD's Gurria Calls For Collective Action On Digital Taxation
OECD Secretary-General Angel Gurria has called for a collective effort on the design of temporary, short-term measures to tackle the international tax challenges of the digital economy. UK Firms Respond To UK's Post-Brexit Trade Strategy
The British Chamber of Commerce has responded to the release of two new white papers from the UK Government on trade, tax, and customs after Brexit. Malta Levels Tax On Debt, Equity Financing
Malta has enacted rules removing the bias in favor of debt financing by creating a notional interest deduction for equity financing. UK Government Considering Age-Linked Tax Breaks
The UK Government is considering lowering the tax burden on younger taxpayers, in a move seen as being to boost the Conservative Party's popularity among younger voters. Portugal To Increase Car Tax
Portugal's Government has announced an increase in taxes for motor vehicle use and ownership from 2018. New Zealand Issues Guidance On Biannual GST Filing
New Zealand's Inland Revenue Department has published a practice statement explaining in which cases the Commissioner will exercise the discretion to allow registered persons to remain or become six-monthly return filers for goods and services tax purposes. IRS Budget Cuts Have Hit Enforcement Work: TIGTA
To cut costs, the Internal Revenue Service has significantly curtailed the Automated Substitute for Return Program (ASFR), used to address taxpayers who have failed to file a tax return, the Treasury watchdog has said. Aus Gov't Hails Success Of Asset Write Off Program
Nearly 300,000 Australian small businesses have taken advantage of the Government's instant asset write-off scheme, according to Small Business Minister Michael McCormack. UK Tax Professionals Call For Trusts Register Delay
The Association of Taxation Technicians in the UK has called for an extension to the trust register deadline. Norway's Budget Cuts Income Tax
The Norwegian Government has said the Budget for 2018 meets its election commitment to encourage higher investment, job creation, and economic growth, including through an income tax cut. BEPS Webcast Scheduled For October 17
Registration is open for the OECD's upcoming webcast that will provide an overview of the latest developments in the field of international tax law. IRS Extends Relief To California Fire Victims
The Internal Revenue Service has extended tax deadlines for individuals and businesses affected by the wildfires raging across California. Switzerland Consults On New AEOI Agreements
The Swiss Federal Council has opened consultations on the implementation of new automatic tax information exchange agreements with Hong Kong and Singapore. BCA: Aus Company Tax Rate Damaging Competitiveness
Australia could soon have the third highest company tax rate in the developed world, the Business Council of Australia has said. New Japan-Denmark DTA To Waive Cross-Border Tax
The Japanese and Danish governments announced on October 11 that they had signed a new agreement for the avoidance of double taxation in Tokyo. HMRC Wins Over Tax Scheme Promoter That Dodged DOTAS
HM Revenue and Customs has won a landmark case against a tax avoidance scheme promoter that could lead to the recovery of GBP110m (USD146m). Irish Farmers Criticize Stamp Duty Change
The Irish Government's plan to increase stamp duty on non-residential property transactions has been criticized by farmers' associations. IMF Recommends Higher Income Taxes For Wealthy
Governments should consider effective fiscal policies to address wealth imbalances, the IMF says, noting in a new report how the top personal income tax rates in OECD countries have declined from an average of 62 percent in 1981 to 35 percent in 2015. Luxembourg's 2018 Budget Presented
A number of minor tax measures were included in Luxembourg's 2018 Budget, tabled in the Chamber of Deputies by Minister of Finance Pierre Gramegna on October 11. Donohoe Says Irish Tax Income Tax Rates Unsustainable
Irish Finance Minister Paschal Donohoe has described Ireland's high marginal tax rates as "unsustainable" and "unfair," and said that progress must be made in addressing the issue.
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