Monthly Archives December 2017

Big Businesses Paying Big Taxes in the UK

December 6, 2017 Taxation in UK

Micro-writingLONDON – The biggest businesses in the UK saw increased income tax last year, despite a fall in VAT payments and tobacco duties.

The 100 biggest companies in the UK saw their income tax bill rise by a third last year, according to information released by The 100 Group, which represents these major businesses.

The corporate tax payment due by the big businesses rose to a level of GBP 6.4 billion for the year to March 2017.

The corporate tax bill is approximately one third higher than it was in the previous year.

The increase was attributed to higher than expected profits, and the implementation of a surcharge on banking profits.

Despite the increase in the level of corporate income tax, the overall taxes collected from the large businesses did not rise, as the level of collections of VA...

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NZ Tourist Tax Needs Better Planning

December 5, 2017 Taxation in New Zealand

tourism NZWELLINGTON – Taxes collected from tourist should flow to regions which attracted the tourists to New Zealand, says tourism group.

In a press release on December 4th the advocacy group Regional Tourism NZ called for “a coordinated national discussion on tourism tax”.

The newly elected Labour government in New Zealand has previously campaigned on the promise of a NZD 25 tourist tax to be paid by each international visitor coming to the country.

However, despite the campaign promises, there have not yet been any confirmed details of how the tax will work, and whether the proposed rate will be maintained.

It was explained in the press release that the growth of tourism in New Zealand is having a disproportionate benefit across New Zealand, with many regions benefiting greatly from risin...

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Japan Eyes Tax Reward for Wage Hikes

December 4, 2017 Taxation in Japan

japanese-yen-notes-757cfTOKYO – Wage hikes and robots could soon help Japanese companies slash their tax obligations.

The government of Japan is evaluating potential new tax break which could see the business tax burden reduced by nearly a third.

Japan has spent the last several years taking steps to reduce the level of corporate income tax faced by businesses, which is expected to fall to as little as 29.74 percent in the business year starting April 2018.

However, the government is now looking at reducing the rate to as low as 20 percent.

The reduction will come in the form of deductions made available to businesses which actively invest in human resources, such as wage hikes and training programs.

Some deductions will also be available to businesses which invest in technologies to increase output and produ...

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