Monthly Archives May 2016

Tourist Taxes Launched in Abu Dhabi

May 31, 2016 Taxation in UAE

air travelMANILAABU DHABI – As part of an effort to source new tax revenues streams, the government of Abu Dhabi is now looking at taxing tourists.

From June 1st all visitors staying in Aby Dhabi will be required to pay two new taxes aimed at tourists.

The new taxes will consist of a AED 15 per room per night, and an additional charge of 15 percent of the total value of the hotel bill.

The government of Aby Dhabi claims that the set rates are in line with similar tourist taxes across the United Arab Emirates and other major tourist destinations around the world.

The tourism taxes are intended to help the government find new sources of tax revenues, as the national budget begins to decline with the fall of global oil prices.

The new tax on tourist accommodation is not the only measure taken to tax...

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UK Sugar Tax is Mistargeted

May 30, 2016 Taxation in UK

LONDON – The UK’s proposed sugar tax will not target some of the most sugar-laden drinks on the market, despite them having a higher sugar content than a standard soft drink.

In a new study the UK based Taxpayers’ Alliance (TPA) claimed that the country’s proposed tax on the sale of sugary drinks will unfairly be biased against low-income earners.

The TPA’s new study compared the potential impact of a sugar tax on different 49 types of drinks currently for sale in the UK.

The results of the study showed that while soft drinks like Coke would face the tax, other sugar-laden beverages such as juices and coffees would escape the levy.

It was shown that many drinks which would escape the tax, including syrup-based Starbucks coffees, actually contained more sugar per 100 millilitres than ...

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Tobacco Taxes to Rise by 40 Percent in New Zealand

May 27, 2016 Taxation in New Zealand

Sin TaxWELLINGTON – New Zealand is aiming to eradicate smoking in the country by implementing a series of annual tax hikes.

In its budget plan released on May 26th the government of New Zealand announced that it will reinstate a new round of annual tax hikes on cigarettes and tobacco products.

From January 1st 2017 the rate of taxation on the sale of tobacco products will rise by 10 percentage points, with equal hikes set to take place on January 1st each year until 2020.

The extra tax collections will yield an extra NZD 425 million in tax revenues each year.

The new tax hikes are a continuation of a series of 10 percent increases which were enacted each year between 2012 and 2016.

It is currently estimated that approximately 15 percent of people in New Zealand are smokers, although the rate ...

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Tax Freedom Day Falls in New Zealand

May 26, 2016 Taxation in New Zealand

WELLINGTON – From today onwards, New Zealanders will be earning wages for themselves, instead of covering their tax obligations.

Tax Freedom Day in New Zealand fall today, May 26th, according to research recently released by a New Zealand advocacy group Tax Payers’ Union.

The Taxpayers’ Union claimed that the general government total outlays of the New Zealand government are currently at 40 percent, meaning that Tax Freedom Day will fall at 11:12am on May 26th.

The Taxpayer’s Union suggested that the tax burden faced by New Zealanders has risen over time, as “…thanks to income tax thresholds not adjusting for inflation the average Kiwi household now pays more than $1,000 more in taxes than they did in 2010.”

It was noted that Tax Freedom Day in New Zealand in 2016 falls 15 day...

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“Brexit” Will Raise taxes by GBP400

May 25, 2016 Taxation in UK

HM Revenue and CustomsLONDON – If the UK leaves the EU, taxes in the country will need to be raised, resulting in a post-tax wage drop of 2 percent.

The results of a new study published in May 23rd by the UK-based National Institute of Economic and Social Research show that taxes in the UK would need to be raised if the country choses to leave the EU.

If the UK were to leave the EU, the level of migrants coming to the UK from other EU countries would drop significantly.

The models used in the study indicated that the drop in migration would result in an increase in the portion of the population which are either too old or too young to work, placing a much greater reliance on collecting taxes from the diminished working population.

Leaving the EU would also result in a 9 percent drop in GDP, and a 1 percent dr...

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