Monthly Archives October 2013

Tax Changes to Boost Jamaica’s Economy

October 31, 2013 Taxation in JamaicaTaxation in South America

JamaicaKINGSTON – Jamaica may soon implement several significant changes to the national tax system in the hopes of reversing the country’s four decade trend of slow economic growth.

On October 29th the Minister of Finance and Planning of Jamaica Peter Phillips tabled two new Acts in national Parliament detailing several proposed changes to the country’s tax legislation, as part of the government’s wider efforts to improve the overall efficiency of the national tax system.

According to the Minister, the current tax system in Jamaica does not adequately support the national economy, and is partially to blame for the lack of any significant economic growth over the last forty years.

Peter Phillips explained that the tax incentives currently being offered to businesses lead to the misallocation of t...

Read More

Zambian Government Changes Decisions, Reinstates Tax

October 30, 2013 Taxation In AfricaTaxation in Zambia

mining Tax in AustraliaLUSAKA – Only four weeks after dropping a tax on the export of metals, the Zambian government has reversed its position and once again reintroduced the tax.

Earlier this week the Secretary to the Treasury of Zambia Fredson Yamba confirmed that the national government will soon reinstate the 10 percent tax on the export of unprocessed metals, despite originally lifting the tax on earlier this month on October 4th.

The tax was originally dropped in a response to concerns raised by mine operators claiming that the 10 percent tax cut made the export of unprocessed metals unviable as Zambia does not currently have the smelting facilities to process all of the raw metals being extracted in the country.

Fredson Yamba said that the government now believes that the removing the tax will not bene...

Read More

Australia Needs to Reform Alcohol Taxes

October 29, 2013 Taxation in Asia-PacificTaxation in Australia

excise duties on alcoholCANBERRA – Alcohol consumption in Australia could be lowered if the taxes on cheap wines are raised to the same level as applied to other alcohols.

The government of Australia could raise its tax revenues by AUD 1.3 billion, slash health care spending by AUD 820 million, and also reduce alcohol consumption levels in the country by 1.3 percent by overhauling the national system for taxing alcohol, according to new research published on October 28th in the Medical Journal of Australia.

Currently the taxes applied to the sale of beer and spirits in Australia is based on the type of alcohol and the alcoholic strength of the drink, while wine is taxed according to its retail value.

The results of the research showed that under the present system, the taxes applied to high-quality and premium ...

Read More

France To Tax Energy Drinks

October 25, 2013 Taxation In EuropeTaxation in France

2011_08_05PARIS – The government of France has approved a tax on energy drinks in an effort to minimize the wide consumption of such beverages among young people.

On October 24th the National Assembly of France voted on and approved a new tax on highly-caffeinated energy drinks, to be levied at EUR 1 per litre on all beverages containing more than 0.22 grams of caffeine per litre or more than 0.3 grams of taurine per litre.

The tax is expected to raise an extra EUR 60 million per annum, and is not expected to have any effect on the sale of consumption of coffee and other caffeine products.

The new tax, which is now being commonly referred to as the “Red Bull Tax”, is aimed specifically reducing the consumption of energy drinks amongst teenagers and young adults, especially as a mixture with al...

Read More

Thailand Eyes Tourist Tax

October 24, 2013 Taxation In AsiaTaxation in Thailand

Thai Tax CutsBANGKOK – The government of Thailand is looking to cover the expenses arising from foreign visitors using the national healthcare system and social infrastructures by charging a tax on all visitors entering the country.

In an interview with the Bangkok Post given on October 22nd, the Public Health Minister of Thailand Pradit Sintavanarong said that the government is now considering imposing a BHT 500 “tourist tax” to be paid by any foreign visitor entering Thailand and intending to stay in the country for more than three days.

The Minister informed that the “tourist tax” may be imposed as soon early as January 1st 2014, although the move is likely to be delayed in order to minimize any transitional and administrative difficulties during the busy tourist season.

The extra revenues...

Read More