Monthly Archives January 2013

Cellphone Taxes Weigh Down Americans

January 30, 2013 Taxation in UK

AT+TLegacyWASHINGTON D.C. – Cellphone users in the US are facing exorbitant taxes which skew the marketplace and slow down investment into the market.

In a new report released on January 30th the Tax Foundation detailed the taxes faced by cellphone users, showing that consumers in the US pay an average of 17.18 percent tax on their cellphone bills.

According to the Tax Foundation nearly 34 percent of households in the US no longer use a landline and rely solely on cellphones, and this growing trend means that taxation of cellphones is becoming an increasingly pertinent issue.

Currently cellphone users in Nebraska face the highest tax liability on their cellphone bill, paying out a combined total tax rate of 24.49 percent, while users in Oregon pay the lowest rate in the country at 7.67 percent.

Th...

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Soft Drink Tax on the Table in the UK

January 30, 2013 Taxation in UK

2011_08_05LONDON – Everyone in the UK could be paying more for their favourite soft-drinks, as a charity group looks to tax sugar based drinks in order to improve the health of the country’s children.

A new report released on January 29th by the charity group Sustain is calling for the government to implement a tax on the sale of sugar based drinks in the country,  and the suggestion already has the backing of over 60 other organizations throughout the country.

Sustain calls for a tax of GBP 0.20 per litre on the sale of sugar based in the UK, which would raise an estimated GBP 1 billion in extra tax revenues per year.

The collected revenues should be set aside in a “Children’s Future Fund“, which would be specifically set aside to help pay for new programs to improve the health of children through...

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Canada’s Wealthy Pay Tenth of All Taxes

January 29, 2013 Taxation in Canada

Canada Flag #2OTTAWA – Canada’s richest people are lending significant support to the national government and its revenue streams, accounting for more than a tenth of the country’s incomes.

According to a new report released by Statistics Canada on January 28th, over the course of 2010 the top 1 percent of all individual taxpayers in the country paid out 10.6 percent of the country’s total revenues.

The research by Statistics Canada analyzed the income levels of the country’s highest earners, showing that the average income of the top 1 percent of earners received at least CAD 201 400 and was approximately on average CAD 283 400, compared to an average income of CAD 28 400 for the rest of the country’s taxpayers.

Statistics Canada also showed that the number of women who were in the top 1 percen...

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Turkey Will Not Hike Taxes

January 25, 2013 Taxation in Turkey

Ali Babacan - World Economic Forum Annual Meeting 2011ZURICH – Turkey will soon aim its cross-hairs at tax evaders and the underground economy, in an effort to gather extra revenues.

While talking to the press in Zurich on January 24th the Deputy Prime Minister of Turkey Ali Babacan said that the country will not be hiking income taxes in the near future, and will instead concentrate on clamping down on tax dodgers.

The Depute PM explained that the government has seen the negative effects that arise from hiking taxes on the incomes and asset of wealthy individuals, and said that no such moves would be pursued by Turkey.

Instead of chasing the wealth of high income earners, the government will instead turn to ensuring that everyone in the country pays their full share of income taxes, and Ali Babacan said that “…there is still an unregistered...

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Brazil Breaks Tax Record

January 24, 2013 Taxation in Brazil

flagBRASILIA – Despite seeing record breaking tax revenues, the government of Brazil is still not meeting its fiscal targets.

The Brazilian Tax Authority announced on January 23rd that the country has seen its highest level of tax revenues ever, but despite the good news, the government has not met its own tax revenue targets for the 2012 year.

The total tax revenues for the 2012 calendar year reached BRL 1.029 trillion, which is a 6.1 percent increase compared to 2011.

However, due to the country’s escalating inflation levels, the increase is only equivalent to a 0.7 percent rise in revenues when inflation is taken into account.

it is currently estimated that the inflation level in Brazil has now reached 6 percent.

Both the real increase and the inflation adjusted increase are far below the g...

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