LONDON - The UK Chancellor of the Exchequer George Osborne outlined upcoming tax changes in the UK during the annual Autumn Statement. On November 29th the UK Chancellor of the Exchequer George Osborne delivered the annual Autumn Statement, in which he outlined the government’s upcoming intentions regarding the economy and fiscal policy. Under plans for boosting the nation’s economic expansion, the government of the UK announced a number of tax changes which are aimed at aiding small and medium sized enterprises in ... Read More

SUVA - The government of Fiji is taking action to eradicate poverty in the country by lowering taxes for almost all of the nation’s taxpayers. Over the weekend the Prime Minister of Fiji Frank Bainimarama made his annual budget address in Suva, announcing a number of tax changes aimed at lowering tax burdens for the majority of taxpayers, and raising taxes for the country’s highest earners. From the start of next year the tax threshold in Fiji will be raised to ... Read More

CANBERRA - The Australian government is seeing a reduction in collection of capital gains tax, as the European debt crisis maintains its grip on the global economies. On November 27th the Treasurer of Australia Wayne Swan released a statement describing the economic outlook of the country, with particular emphasis on the revenue forecasts for capital gains taxes. According to the Treasurer, the prices of Australian stocks are stagnating, or even falling, with the national share market having dropped 15 percent since ... Read More

TOKYO - The major political parties of Japan have come to some agreement on the matter of taxation, taking the first steps to increasing rates and raising extra funds for the country’s rebuild following the recent spate of natural disasters. Months of political debate came to an end on November 24th when the Lower House of Parliament of Japan approved new legislation which paves the way for the government to hike some tax rates as a means of raising revenues to fund ... Read More

LONDON - The UK’s top marginal tax rate is actively driving high income earners out of the country, leaving middle and low income individuals to plug any arising budget gaps. On November 23rd the UK Centre for Economics and Business Research (CEBR) released a new report claiming that the country’s top marginal tax rate of 50 percent is not in sync with the realities of the modern business environment, and is encouraging high earning individuals to leave the UK, ultimately lowering the ... Read More

WARSAW - Polish taxpayers will soon see a price hike for tobacco and fuel products as the government looks to raise excise taxes in order to boost tax revenues. A new set of legislative regulations were submitted to the parliament of Poland on November 22nd setting out a series of new tax increases on fuel and tobacco products, aimed at quickly raising the country’s tax revenues. If the bill is approved by parliament, the country will see an increase of 4 ... Read More

SRI JAYAWARDENAPURA-KOTTE - Sri Lanka will devalue its national currency and implement a series of tax policies changes, with the aim of further developing the country’s position rapidly expanding, export orientated economy. In a speech made by President Mahinda Rajapaksa on November 21st in Sri Jayawardenapura-Kotte announcing the new government budget plan for 2012, a wealth of new announced a wealth of new taxation measures and fiscal policies aimed at boosting the country’s economic expansion and increasing export levels. While outlining ... Read More