Yearly Archives 2018

Zambia to Tax WhatsApp and Skype

August 15, 2018 Taxation in Zambia

Whatsapp taxLUSAKA – Zambia wants to charge a tax on WhatsApp calls, in order to collect funds to compensate traditional telecoms businesses.

Earlier this week the government of Zambia announced that it intends to implement a daily tax on the use of internet calling services such as WhatsApp or Skype.

The new tax would be charged at a rate of ZMK 0.30 per day for each device that is used to access the relevant communications and calling networks.

The tax is targeted specifically at calling, and would not be charged if a call-capable network, such as Facebook Messenger, is used but no calls are made.

It was explained by the Information Minister Dora Siliya that the transition by many individuals to digital calls is beginning to prove troublesome for the traditional telecommunications industry.

She fu...

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Tax Havens Aid Illegal Fishing and Deforestation

August 14, 2018 Tax Havens

DeforestationSTOCKHOLM – Tax havens are facilitating deforestation and illegal fishing but allowing the perpetrators to hide from taxes and legal repercussions.

On August 13th the Stockholm Resilience Centre issued a public release which details the results of research on the link between tax havens and illegal fishing and deforestation.

The researchers found that approximately 70 per cent of all vessels which are known to have been involved with illegal, unreported, or unregulated fishing around the world were flagged and registered in jurisdictions widely recognized as being tax havens.

In many cases, the jurisdictions in which the fishing vessels are registered are not known to routinely prosecute or penalize vessels which are found to be in breach of international maritime laws.

Further, the res...

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NZ Government Wants Tobacco Tax, Not Vapes

August 13, 2018 Taxation in New Zealand

Taxes on vapes in NZWELLINGTON – Despite being healthier than smoking, tobacco products are being labelled as being just as dangerous in New Zealand, all for the sake of tax revenues.

On August 10th the New Zealand Taxpayers’ Union (TPU), a tax advocacy group, issued a press release claiming that the government of New Zealand is choosing to pursue tax revenues instead of helping smokers kick the habit.

The TPU claims that regulations will require tobacco-alternatives to be packaged in a manner which would deer smokers from using the healthier alternatives.

Tobacco alternatives sold in New Zealand will soon be required to be labelled with the same anti-smoking labels as regular cigarettes, and the requirement extends to non-combustion products such as e-cigarettes, heated tobacco and snus.

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Cryptos to Be Taxed in South Africa

August 10, 2018 Taxation in South Africa

TokenBorsaPRETORIA – New rules being pushed by South African tax authorities will see cryptocurrencies be subject to income tax but not VAT.

The South African Revenue Service (SARS) is pushing for new regulation which would see a tax imposed on cryptocurrency.

Under current regulation in South Africa, cryptocurrencies are not considered to be currency in regards to the calculation of liability for capital gains tax and income tax.

As cryptocurrency is not yet widely popular as a means of payment of exchange, there is not yet any significant push for any coins to be considered and treated as a currency.

The SARS is considering cryptocurrencies to be an intangible asset, and are to be taxed as an asset.

If the classification is ratified, trades of cryptocurrency will be subject to income tax, as wo...

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Brexit May Spoil Your Next Holiday

August 8, 2018 Taxation in UK

Travel Company Taxes After BrexitLONDON – If the UK follows through with Brexit, it may spoil people’s holiday plans.

In a press release issued earlier this week, Seasonal Businesses in Travel (SBIT), a UK-based travel industry advocacy group, claimed that the cost of holidays will increase following Brexit.

The cost increases were attributed to the fact that following an exit, UK companies with staff overseas will no longer be able to use UK staff during peak seasons.

The need to employ EY staff will mean that employers will need to pay local employment taxes, which are in many cases more onerous than their UK equivalents.

SBIT claims that following an exit, the costs felt by holiday companies will rise by as much as 58 per cent.

In addition to the increasing costs, the companies will reduce the number of UK workers ...

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