Nov 25, 2009
The tax burden, calculated as a ratio of tax receipts to Gross Domestic Product (GDP), faced by member countries of the Organization for Economic Cooperation and Development (OECD) fell by 0.5% in 2008. According to the OECD’s “Revenue Statistics: 2009 Edition” report, published November 24th, the tax burden by its members has fallen as the [...]
The tax burden, calculated as a ratio of tax receipts to Gross Domestic Product (GDP), faced by member countries of the Organization for Economic Cooperation and Development (OECD) fell by 0.5% in 2008.
According to the OECD's "Revenue Statistics: 2009 Edition" report, published November 24th, the tax burden by its members has fallen as the worldwide financial crisis tolls global economies. The aggregate tax receipt-to-GDP ratio across the surveyed OECD nations in both 2007 and 2006 was 35.8%. Based on current provisional ... Read More
Nov 24, 2009
The Rockefeller Institute of Government published a report on November 23rd, showing that tax revenue has fallen across most US states. According to data collected from 44 states, the total tax take in the US fell by 10.7% (or 11.3% if adjusted for inflation) in the third quarter of 2009, compared to the same quarter [...]
The Rockefeller Institute of Government published a report on November 23rd, showing that tax revenue has fallen across most US states.
According to data collected from 44 states, the total tax take in the US fell by 10.7% (or 11.3% if adjusted for inflation) in the third quarter of 2009, compared to the same quarter in 2008. In a cross-US measurement Corporate Income Tax was the most significant drop, being 19.4% less than the 2008 third quarter, Personal Income Tax fell by ... Read More
Nov 23, 2009
Transparency International, an international non-profit organization aimed at fighting corruption, has released their annual Corruption Perception Index (CPI) survey, on November 17th. The corruption study consists of a ranking of 180 countries based on a corruption score, ranging from zero to ten, with the lower representing a higher level of perceived corruption. This year, of [...]
Transparency International, an international non-profit organization aimed at fighting corruption, has released their annual Corruption Perception Index (CPI) survey, on November 17th. The corruption study consists of a ranking of 180 countries based on a corruption score, ranging from zero to ten, with the lower representing a higher level of perceived corruption.
This year, of the countries surveyed, New Zealand was found to be the least corrupt, with Denmark, Singapore, Sweden and Switzerland following. Somalia was the country perceived to have the highest ... Read More
Nov 20, 2009
The Icelandic Government gave final approval to tax reforms and announced that the implementation of the new system will begin January 1st, 2010. Initial tax reforms plans were announced on June 18th 2009, which consisted of restructuring of personal taxes from the current flat-rate to a three tier system, along with increases in capital gains, [...]
The Icelandic Government gave final approval to tax reforms and announced that the implementation of the new system will begin January 1st, 2010. Initial tax reforms plans were announced on June 18th 2009, which consisted of restructuring of personal taxes from the current flat-rate to a three tier system, along with increases in capital gains, VAT and tax-free exemptions.
Beginning in 2010 Iceland will replace its lat-rate personal tax rate of 24.1% with a three tiered system. Those earning less than ISK200,000 ... Read More
