A new report on the economic condition of Spain has been released, recommending several changes to the tax system aimed at ensuring a strong and sustainable economic recovery. On December 20th the Organization for Economic Cooperation and Development (OECD) released its annual Economic Survey of Spain, which outlines the country’s economic standing and suggests several steps that could potentially improve future growth prospects. The report stated that throughout the financial crisis, Spain underwent similar economic declines as other developed nations. At the same ... Read More

The International Monetary Fund will soon launch a new project designed to greatly improve and overhaul the tax systems of selected low-wealth nations and decrease developing countries' dependency on international financial aid. Over the weekend the International Monetary Fund (IMF) held a pledging ceremony for an upcoming program aimed at providing fiscal and technical assistance for low income countries looking to improve national tax systems and administration. Explaining the need for such an initiative IMF Deputy Managing Director Murilo Portugal stated, "...robust ... Read More

The UK’s Chancellor of the Exchequer has announced that the upcoming rate increase to the national Value Added Tax will not be a temporary measure and will be maintained until the country adequately lowers its budgetary deficit. On December 16th the Chancellor of the Exchequer of the UK George Osborne announced that the upcoming rise of the national Value Added Tax (VAT) rate will be a permanent measure, and not a temporary fiscal relief strategy as indicated earlier in the year. The change ... Read More

A new study of Google’s dominance of the online advertising market in France has led the French Government to delay its upcoming online advertising tax. On December 16th the Budget Minister of France Francois Baroin announced that the country’s upcoming tax on internet advertising could be delayed. The Minister stated that the postponement will allow the greater time for the government to hold negotiations and discussions with local telecommunications providers and businesses, in regards to how the tax should be implemented and monitored. ... Read More

The results of a new survey has been revealed indicating that Australian taxpayers are unsatisfied with what they perceive to be a low level of taxation on the country’s banks, and that they believe issue of an extra bank tax has to be brought into greater discussion. On December 15th the Australia Institute, an independent national think-tank concerned with fiscal policy analysis, released the results of a new survey, showing that 81 percent of Australians believe that a new bank tax should be ... Read More