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Petrol Taxes in NZ Will Hit the Poor and Old Cars

April 5, 2018 Taxation in New ZealandUncategorized

petrol tax in New ZealandWELLINGTON – New Zealanders who drive old and inefficient cars will see their tax bills rise.

On April 3rd a researcher from the economic group the New Zealand Initiative, Sam Warburton, claimed that the upcoming hike to petrol taxes in Auckland will adversely impact low-income households.

The New Zealand government has recently announced that it will be raising the rate of tax levied on the sale of petrol in the country by as much as NZD 0.12 per litre, and, further, the government will introduce a regional fuel tax targeted at the country’s largest city, Auckland.

In combination, the two taxes could see petrol in Auckland set consumers back by an extra NZD 0.20 per litre.

Sam Warburton explained that the financial impact of petrol excise taxes are directly tied to the amount of petr...

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Digital Policy Misses the Mark with UK Farmers

April 1, 2017 Uncategorized

Taxes on farmersLONDON – Farmers in the UK are not looking forward to digitizing their taxes, primarily due to their poor internet access.

The four biggest farming unions in the UK, the NFU, NFU Cymru, NFU Scotland and the Ulster Farmers’ Union, have now called on the UK government to reconsider its proposed implementation of the “Make Tax Digital” policy, as many farmers simply do not have access to the internet.

The unions argued that approximately 5 percent of people in the UK do not have access to broadband internet, and many of these people are the farmers who will be negatively impacted by the policy.

It was also noted that these are currently an insufficient number of software providers and programs which are capable of handling the complexity of agricultural taxes, as tax returns for farms ...

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Tobacco Tax Hikes Boosts Smoking in S.Korea

January 25, 2017 Uncategorized

Cigarette taxesSEOUL – While tax hikes on cigarettes are aimed at reducing the consumption of tobacco, it appears that the latest hike in Korea has led people to smoke more.

New information released over the weekend has shown that the number of cigarettes sold in South Korea rose shortly after the government instituted a hike in the rate of tax on the sale of cigarettes.

In 2015 the government of Korea raised the tax on the sale of cigarettes from KRW 2 500 per pack to KRW 4 500 per pack.

The year prior to the implementation of the tax hike, the number of cigarettes sold in the country was approximately 85.3 billion, a 17 percent rise compared to the previous year.

In the year of the price hike the number of cigarettes sold fell to 66.7 billion.

However, in 2016 the amount sold had risen to 72...

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Korea Embracing Digital Tax Payments

January 19, 2017 Uncategorized

Mobile tax payment KoreaSEOUL – The tax authority of Korea are opening new digital avenues for taxpayers to make payments, in order to free up resources to catch tax evaders.

On January 18th, the National Tax Service (NTS) of Korea issued a statement confirming that it is expanding the methods which may be used by taxpayers to make their tax payments.

From now on, the Value-Added Tax declared to the tax authority will be payable via the mobile application released by the NTS last year.

Further, the NTS will work with the Kakao Corp, the operator of the country’s largest mobile messaging and payment platform, to implement new functionality to allow taxpayers to make tax payments directly from the KaKao app.

In addition to the mobile payment options, tax payment will also be able to be made via ATMs around the ...

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Vanuatu Should Raise VAT

July 26, 2016 Uncategorized

Monopoly JusticePORT VILA – Vanuatu needs to hike the rate of value added tax instead of raising income taxes, or else the country could face more difficulty in finding skilled workers.

In a radio interview on July 25th, Martin Hilaire of the Chamber of Commerce of Vanuatu, called on the national government to drop the proposal to raise income taxes, and, instead, hike the rate of value added tax.

Currently the rate of Value Added Tax in Vanuatu is set at 12.5 percent, and Martin Hilaire claimed that it should be raised by 2.5 percent to 15 percent.

It was explained that currently only 26 000 people in Vanuatu are registered for the Vanuatu Pension Plan, indicating that less than 10 percent of the population is included in the tax net.

If income taxes were raised, the burden of the rise would fall squar...

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