Monthly Archives March 2017

Indonesia Sees Tax Amnesty Success

March 22, 2017 Taxation in Indonesia

Indonesian tax amnestyJAKARTA – Indonesia has seen one of the most successful tax amnesties in the world, and is now looking to further step up its fight against tax evasion.

Indonesia has wrapped up its latest tax amnesty program, and has reportedly achieved stellar results, and now the government is looking to crack down on tax evaders who did not take advantage of the generous offer of amnesty.

Indonesia saw approximately 745 000 workers come forward to declare their previously hidden assets and income.

The value of the assets and incomes has been estimated to come to the equivalent of USD 330 billion.

Some experts have gone so far as to suggest that the results of the amnesty are the most successful in recent history.

However, now that the amnesty is complete, the government hopes that it can improve its ...

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Iceland Eyeing Tourist Taxes to Keep Tourists Away

March 21, 2017 Taxation in Iceland

Tourist Taxes in IcelandREYKJAVIK – Visiting Iceland may soon become more expensive, thanks to Game of Thrones.

In a recent interview the Minister of Tourism of Iceland Thordis Kolbrun Reykfjord Gylfadottir said that the government may soon look at implementing taxes on tourists or tourism businesses.

The tax is aimed at controlling the number of tourists coming to the country, while also raising tax revenues.

Iceland is seeing a surge in tourism in recent years, as in 2010 the country had approximately 459 000 international visitors, while it is estimated that by 2020 the level will rise to as much as 2 million people per year.

The spike in tourist numbers has been attributed to a devaluation of the national currency and a growing interest in the country due to appearances in several popular television shows, ...

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New Zealand Wont See Water Tax

March 20, 2017 Taxation in New Zealand

Water in New ZealandWELLINGTON – Bottlers and exporters of premium New Zealand water will be breathing a sigh of relief, as the Prime Minister explains why they will not be paying a water tax any time soon.

In a television interview on Match 20th the Prime Minister of New Zealand explained that the government would not soon see the implementation of a tax on the bottling of water to be sold outside of New Zealand.

Recently, New Zealand has seen an increase in public outcry and media controversy regarding the issue of water being collected from New Zealand springs and lakes, and being sold overseas, as the businesses which win the rights to bottle the water, only pay a minimal price for the privilege.

The controversy has led to the suggestion that businesses which bottle water and sell it overseas should be...

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Sugar Tax Would Save Canadian Lives

March 17, 2017 Taxation in Canada

Sugar Taxes in CanadaOTTAWA – Sugar taxes would save billions in healthcare spending, while also raising tax revenues, and saving hundreds of thousands of lives in Canada.

New research completed at the University of Waterloo has indicated that a 20 percent tax on sale of sugary drinks in Canada could save thousands of lives while also raising tax revenues.

It was concluded that if a tax of 20 percent was applied on the sale of all sugary drinks, including energy drinks and selected fruit juices, then the government would see tax revenues rise by CAD 1.7 billion per year, equating to approximately CAD 43.6 billion over the next 25 years.

Along with the extra tax revenues, the government would see savings of CAD 11.5 billion over the same timeframe, due to reduced expenditures on healthcare services.

The drop...

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Sweden Eyes Air-Travel Tax

March 16, 2017 Taxation in Sweeden

Ticket tax in SwedenSTOCKHOLM – Travelling is about to become a more expensive activity for Swedes, as the government looks set to implement a new tax on each and every air ticket sold.

On March 15th, the Financial Markets Minister of Sweden Per Bolund said that the national government plans to implement a new tax on the sale of airline tickets.

The new tax is expected to be levied at a rate of between SEK 80 and SEK 430, with the exact rate to be based on the distance of travel purchased.

The tax, which is yet to be approved, is intended to compensate the government for tax losses arising from a lack of VAT on international flights, and the relatively low taxes paid by airlines on their greenhouse gas emissions.

The Minister also explained that the tax is a form of green-tax reform.

The proposed tax has s...

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