Category Taxation in Asia-Pacific
February 21, 2017 Taxation in Australia
A new report in Australia with contributions from over 100 nutrition experts from across 53 organizations is calling for a raft of new measures aimed directly at tackling the country’s growing obesity epidemic.
One of the key proposals in the report was the introduction of targeted taxes on sugar-filled foods and beverages, including sugary drinks, a food item that has been the targeted of taxes and tax discussion around the world.
The tax was not the only suggestion in the report, and among the 46 other points raised were complimentary measures such as restricting advertising on junk food, restricting the sale of junk food at...Read More
February 20, 2017 Taxation in Philippines
Over the course of the last week significant controversy has arisen over a proposal by the government of the Philippines to introduce a new tax on the sale of automobiles in the country.
The new tax was proposed as part of a wider plan by the government to shift the national tax system to a low-rate wide-base system, which would see taxes charged at a lower rate but on a greater number of items and transactions.
The government hopes that by raising the taxes on cars, it will be able to reduce the taxes levied on personal incomes.
Currently the taxes on the sale of cars in the Philippines are staggered, with a base fee determined by the value of the car, and an ad...Read More
February 16, 2017 Taxation in New Zealand
In a speech given on February 16th the Finance Minister of New Zealand Steven Joyce said that in the upcoming budget the government will be looking to lower personal income taxes and implement new tax system on roading.
The Minister did not reveal the exact extent of the tax cuts that he hopes to implement, but did say that it is the government’s goal to ease the tax burden faced by middle- and low-income earners as soon the as the government’s own fiscal position allows.
New Zealand’s fiscal position has been steadily improving over the last few years, with the national debt-to-GD ratio set to fall to 20 percent by 2020.
The current Nationa...Read More
February 16, 2017 Taxation in Australia
Implementing taxes on unhealthy foods and introducing subsidies on fruits and vegetables in Australia could save lives, billions in expenditure, while costing taxpayers and consumers virtually nothing, according to the results of a new study published on February 14th in the international Medical PLOS Medical.
The study evaluated the combined and individual effects of implementing taxes on fat, salt, sugar, and sugar-sweetened beverages, and also implementing subsidies on fresh fruits and vegetables.
Individually, a sugar tax was the most effective measure, followed by a salt tax, a saturated fat tax, and, lastly, a tax on sugary drinks...Read More
February 13, 2017 Taxation in New Zealand
The New Zealand Shipping Federation has recently spoken out against taxation rules, which, it claims, are unfairly putting local shipping operators at a disadvantage.
Currently New Zealand has an Emissions Trading Scheme which sees oil fuel companies buy carbon credits to pass on to clients.
It was claimed that the Emissions Trading Scheme ultimately costs operators as much as NZD 250 000 per ship.
However, foreign ships which visit New Zealand and only make one or two stops are exempt from the tax, despite the fact that they do complete deliveries within the country.
According to the New Zealand Shipping F...Read More