New Zealand’s Cities Asking for Fuel Taxes

May 17, 2018 Taxation in New Zealand

fuel tax taurangaWELLINGTON – New Zealand’s biggest city will soon have a regional fuel tax, and now the country’s smaller cities want to follow suit.

Regional Council across New Zealand are requesting that the government grants them permission to impose region-specific fuel taxes.

The latest local council to pursue a local fuel tax is the Tauranga City Council, which hoped to be able to charge more at the pump, like the country’s largest city, Auckland.

Tauranga joins Christchurch and Hamilton, two other major cities which are hoping to raise funds via a fuel tax.

The Council claim that the regional fuel taxes would be used to fund the development and improvement of transport infrastructure in their respective regions.

The Auckland Council has been granted permission to levy a tax of NZD 0...

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Thailand Clamping Down on Bitcoin Trading

May 15, 2018 Taxation in Thailand

cryptocurrency in ThailandBANGKOK – Thailand is toughening the rules about the use, exchange, or sale of cryptocurrency, and calling for heavy fines and jail time for unregistered exchange.

As of May 14th new regulations came into effect in Thailand regarding the trading of and profits from cryptocurrencies, such as Bitcoin, which will see higher levels of oversight and taxation.

Cryptocurrency transactions will soon bear the burden of a heavy taxation, with a 22 percent duty on profits to be enacted soon, on top of the already announced 15 percent tax on capital gains.

Along with the new taxes, the sellers of digital currencies have also been told that they will be required to register with the national Securities Exchange Commission (SEC) within the next 90 days.

Those who do not follow the requirement to regi...

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Don’t Over Tax Vapes, Says NZ Advocacy Group

May 14, 2018 Taxation in New Zealand

tobacco taxationWELLINGTON – As more people stop smoking, the government of New Zealand has to be careful not to discourage cessation through over taxation.

The New Zealand advocacy group, the Taxpayers’ Union, is calling on the government to ensure that it does not resort to taxing tobacco alternatives such as vapes or HEETS.

It has been estimated that the growing popularity of tobacco alternatives in New Zealand will lead to a tax gap of NZD 1.8 billion, as fewer people purchase cigarettes and loose tobacco.

Introducing a tax on vape liquids and similar products could reduce the incentive for smokers to choose healthier options, and “would perpetuate a major cause of financial harm for some of the poorest New Zealanders.”

The Taxpayers’ Union spokesman Louis Houlbrooke said that “some lost tax re...

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Peru Enacts Sugar Tax

May 11, 2018 Taxation in Peru

can of cokeLIMA – Peru joins the list of nations levying a tax on sugary drinks.

On May 10th the government of Peru announced that it will implement significant new taxes on sugary drinks, and a handful of other products regarded as being bad for the nation’s health.

Sugary drinks with more than 6 grams of sugar per 100 ml will see a tax of 25 percent, while drinks with less sugar will see a reduced rate of 17 percent.

The tax will apply not only to sugar-sweetened beverages, non-alcoholic beers, and juice drinks.

Exemptions from the new tax will be granted to pharmaceutical drinks and enriched milk products aimed at mothers and babies.

Similar tax hikes will also be enacted on alcoholic drinks, tobacco products, and gasoline.

The new measures are aimed at combating the rising instances of obesi...

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New Zealanders Want More Taxes

May 10, 2018 Taxation in New Zealand

Taxes in New ZealandWELLINGTON – New Zealanders want more public service, and they are not afraid to tax more people to get them.

On May 10th the largest union in New Zealand, the Council of Trade Unions (CTU), issued a press release regarding the results of their recently commissioned poll and their subsequent submission to the government appointed Tax Working Group.

The Tax Working Group was formed by the new Labour-led government to determine what new tax measures New Zealand should implement into the future.

The recommendations of the Group will form the basis of the Labour Party’s campaign platform into the next election.

According to the CTU, New Zealanders are supportive of new taxes being levied in order to fund more public services in the country.

The survey indicated that approximately 65 percent...

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