Yearly Archives 2012

Millionaire Tax Called Off in France

December 31, 2012 Taxation in France

François Hollande et Stéphane Hessel aux Journées de NantesPARIS – Nearly 1 500 of the richest people in France are breathing a sigh of relief this New Year’s day, as the government’s plan to hike taxes on the ultra-rich is ruled to be unconstitutional.

With only days left in 2012 the government of France has suffered a setback to its plan of raising tax rate on the incomes of individuals earning above EUR 1 million per year to 75 percent, after the Constitutional Council of France announced on December 29th that the proposed hikes were unfair and could not be implemented.

The measure was found to be unconstitutional as it was calculated on individuals’ incomes and not households’ incomes, as is normal in France.

The Prime Minister of France Jean-Marc Ayrault has already vowed that the government will reconsider the details of the proposed measur...

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Brits Spent Christmas Filing Tax Returns

December 28, 2012 Taxation in UK

Tax on ChristmasLONDON – In the UK over 20 000 people spent the holiday season completing and filing their tax returns.

In the wake of the Christmas festivities the HM Revenue and Customs released a statement on December 27th revealing that this year it has experienced an increase in the number of tax returns filed on Christmas day and throughout the rest of the holiday season.

According to the HMRC, in 2012 nearly 1 550 taxpayers decided to spend Christmas day preparing and submitting their tax returns online, while in 2011 only 1 100 returns were filed on December 25th.

The number of taxpayers who filed their tax returns on Christmas Eve also rose compared to last year, increasing from 4 115 in 2011 to 14 330 this year, with nearly 73 percent of all filers submitting their returns within an hour of mid...

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Santa Also Pays Taxes

December 26, 2012 Taxation in Ukraine

ChristmasKIEV – Actors and performers in Ukraine are under the scrutiny of the country’s tax authorities,  and have been warned to pay their taxes.

Only one day after Christmas the State Tax Service of Ukraine issued a statement reminding all self-employed actors playing the part of Santa, known locally as Did Moroz, to ensure that they meet their tax obligations on any money earned during the holiday season.

According to the statement, investigators at the Service have already poured through online advertisements from actors who offer holiday performances as Did Moroz, noting the large number of actors and their pay scales, saying that a Santa may earn up to UAH 3 500 for a single performance.

In an effort to encourage greater tax compliance amongst the holiday actors, the Service also called up...

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Fiji Lures Aid with Tax Breaks

December 24, 2012 Taxation in Fiji

Tropical Cyclone RobynSUVA – The government of the disaster struck Fiji is foregoing future tax revenues in exchange for the immediate assistance, funds and supplies needed for its relief efforts.

In the wake of the devastating Tropical Cyclone Evan which struck Fiji earlier this month, the national government announced over the weekend that it is offering significant tax breaks to people and businesses as incentive to make donations of cash and goods to be used towards the country’s recovery.

Any individual taxpayer who donates more than FJD 1 000 (approx USD 570 ) to a nominated bank account of the Prime Minister’s Relief Fund will be granted a tax deduction of 200 percent of the amount offered.

This is not the first time that the Fijian government has decided to offer such significant tax deductions in excha...

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Philippines Gets Christmas Tax Gift

December 21, 2012 Taxation in Philippines

excise duties on alcoholMANILLA – In an effort to increase health care funding and improve the lifestyles of nationals, the Philippines will hike the taxes levied on the sale of alcohol and tobacco in the country.

On December 20th the President of the Philippines Benigno Aquino signed the hotly debated and long discussed Republic Act 10351, which came to be known in the Philippines as the as the Sin Taxes, in order to allow tax authorities to raise the excise duties on all alcohol and tobacco products sold in the country.

The President described the development as an early Christmas gift which will free “more Filipinos from the vices of smoking and drinking.”

The excise taxes charged on the sale of tobacco and alcohol products will be increased next year, and further preset hikes will be enacted at the start...

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