March 20, 2017 Taxation in New Zealand
In a television interview on Match 20th the Prime Minister of New Zealand explained that the government would not soon see the implementation of a tax on the bottling of water to be sold outside of New Zealand.
Recently, New Zealand has seen an increase in public outcry and media controversy regarding the issue of water being collected from New Zealand springs and lakes, and being sold overseas, as the businesses which win the rights to bottle the water, only pay a minimal price for the privilege.
The controversy has led to the suggestion that businesses which bottle water and sell it overseas should be...Read More
March 17, 2017 Taxation in Canada
New research completed at the University of Waterloo has indicated that a 20 percent tax on sale of sugary drinks in Canada could save thousands of lives while also raising tax revenues.
It was concluded that if a tax of 20 percent was applied on the sale of all sugary drinks, including energy drinks and selected fruit juices, then the government would see tax revenues rise by CAD 1.7 billion per year, equating to approximately CAD 43.6 billion over the next 25 years.
Along with the extra tax revenues, the government would see savings of CAD 11.5 billion over the same timeframe, due to reduced expenditures on healthcare services.
The drop...Read More
March 16, 2017 Taxation in Sweeden
On March 15th, the Financial Markets Minister of Sweden Per Bolund said that the national government plans to implement a new tax on the sale of airline tickets.
The new tax is expected to be levied at a rate of between SEK 80 and SEK 430, with the exact rate to be based on the distance of travel purchased.
The tax, which is yet to be approved, is intended to compensate the government for tax losses arising from a lack of VAT on international flights, and the relatively low taxes paid by airlines on their greenhouse gas emissions.
The Minister also explained that the tax is a form of green-tax reform.
The proposed tax has s...Read More
March 15, 2017 Taxation in New Zealand
New Zealand’s continued higher-than-expected tax revenue results may not continue into the foreseeable future, according to information detailed in a new report released by the New Zealand Treasury.
Over the 12 month to December 2016, the tax revenues of New Zealand grew by 8.5 percent compared to the same period in the previous year.
The growth in tax revenues also outpaced the growth in the national GDP level, and similar growth levels have been seen over the last two years.
The primary drivers behind the higher-than-expected growth have been rises in the collection of GST and corporate income tax, and higher than...Read More
March 14, 2017 Taxation in Brazil
A new ruling by the Supreme Court of Brazil has enshrined the idea that digital books should enjoy the same tax treatment as their physical counterparts.
In September 2016 a debate began regarding the taxation of e-books, with some parties claiming that the digital products should not face taxation, while opponents claimed that the rules should be restricted to physical books only.
The tax breaks on books stems from legislation in Brazil which protects books from taxation as a matter of freedom of speech.
The Supreme Court has now ruled that the digital versions of books are practically indistinguishable from their physical versions, ...Read More