Uganda’s Social Media Tax Already Under Review

July 11, 2018 Taxation in Uganda

mobile tax UgandaKAMPALA – Despite being less than two weeks old, Uganda’s social media tax is already being reviewed.

Uganda’s recently imposed social media tax is becoming an increasingly controversial issue, as parliament revisits the topic, while taxpayers are threatening to protest.

As of July 1st, mobile users in Uganda are required to pay a tax of UGX 200 per day in order to access social media and communication services, such as Facebook, WhatsApp, and Skype.

The tax is understood to be intended to help cover some of Uganda’s debts, and it is also a social issue, as the country’s president Yoweri Museveni that social media is used to “encourage gossip”.

It has now been announced that on July 11th, the country’s parliament will revisit the issue of the tax.

During its review, it is p...

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UK Launches 9 Major Taxes in 10 Years

July 10, 2018 Taxation in UK

Taxes in the UKLONDON – Over the last decade, the UK has decreased its appeal as an investment destination by enacting a series of new taxes.

Earlier this week the UK accounting firm, UHY Hacker Young, issued a new statement which detailed the taxes enacted by the national government over the last 10 years.

Since the 2008 Global Financial Crisis, the government of the UK enacted 9 new taxes, consisting of the apprenticeship levy, the bank levy, the bank surcharge, diverted profits tax, bank payroll tax, enveloped dwellings tax, Swiss capital tax, and the tax on sugar-sweetened beverages.

Cumulatively, the new taxes raised an extra GBP 27.9 billion in tax revenues, over and above what the government already collected from previously enacted taxes.

Commenting on the new taxes, Darren Grimes, Partner at ...

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South Africa Loses Billions in Taxes To Illicit Cigarettes

July 6, 2018 Taxation in South Africa

Illicit cigarettes South AfricaJOHANNESBURG – Cigarette manufacturers in South Africa are fuelling the market for illegal tobacco, where a pack of cigarettes costs less than the tax due on their sale.

According to a new report completed and released by the South African Revenue Service (SARS), the national government is losing billions each year due to the prevalence of illicit cigarette sales. ‘

Approximately three-quarters of all informal shops surveyed across the country appeared to be selling illicit cigarettes.

Currently, a pack of cigarettes in South Africa would carry a minimum tax obligation of SAR 17.85 per pack.

However, the illicit cigarettes were priced lower than the tax, in some cases being as cheap as SAR 5 per pack.

It is impossible that the full tax obligation can be met on the sale of cigarettes that c...

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New Group Formed to Fight Modern Tax Dodging

July 5, 2018 International Tax Cooperation

J5 tax evasionWASHINGTON D.C. – The IRS, along with 6 other tax agencies, are forming a new multinational investigative group aimed at fighting modern international tax evasion.

Earlier this week the US Internal Revenue Service announced the formation of a new collaborative international team aimed at stamping out tax evasion, money laundering and tax crime.

The new group, called the J5, will be made up of the Australian Criminal Intelligence Commission (ACIC) and Australian Taxation Office (ATO), the Canada Revenue Agency (CRA), the Fiscale Inlichtingen- en Opsporingsdienst (FIOD), HM Revenue & Customs (HMRC), and Internal Revenue Service Criminal Investigation (IRS-CI).

The J5 will aim to conduct investigations on the methodologies and perpetrators of on transnational tax offenses around the world.

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Japanese Tax Revenues At a 26 Year High

July 5, 2018 Taxation in Japan

Japanese tax revenuesTOKYO – Japan’s government has seen an incredible rise in tax revenues, with more funds coming in than any year in the last quarter of a century.

The government of Japan has announced that its tax collections for the 2017 fiscal year were the highest in the last 26 years.

The total amount of tax collected was approximately JPY 58.79 trillion (approximately USD 532 billion).

The total amount collected exceeded the government’s own projections by approximately JPY 1.1 trillion.

The revenue rise can be attributed primarily to rises in a 7.2 percent rise in income taxes, a 16.1 percent rise in corporate tax revenues, and a 1.7 percent increase in the collection of consumption taxes.

In addition to the higher-than-expected tax revenues, the government’s own sending was also below forecast ...

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