Hong Kong Banks Divulge Client Data

September 15, 2018 Taxation in Hong Kong

Hong KongHONG KONG – The majority of Hong Kong financial institutions have divulged detailed data about their international clients for an international data swap.

New media reports in Hong Kong indicate that approximately 1 700 financial institutions have submitted details about their clients for international information exchanges.

The information exchanges are part of the mandatory international program called the Automatic Exchange of Financial Account Information in Tax Matters (AEOI).

The AEOI initiative has participating members in 149 countries around the world, and involves the annual exchange of information about individuals with financial accounts held in jurisdictions other than their main jurisdiction.

The exchanged information includes balances, pay-outs, dividends, and other data wh...

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New Zealand Needs Sugar Taxes, Prime Minister Told

September 13, 2018 Taxation in New Zealand

sugar taxWELLINGTON – New Zealand’s Prime Minister has received direct advice to implement a sugar tax and start a greater campaign to fight obesity.

A new document provided to the Prime Minister of New Zealand and made public via an Official Information request is pushing for the implementation of a tax on sugar-sweetened drinks in New Zealand.

The document was authored by the Ministry of Health’s chief science advisor Dr John Potter, and was initiated at the request of the Prime Minister, Jacinda Arden.

It was set out that the consumption of sugar-sweetened beverages in New Zealand has increased in recent years, and may continue to do so in the near future.

The author claimed that recent academic studies around the world have provided an indication that a tax based on the sugar levels in a dri...

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Ireland Employs AI in Tax Call Centre

September 11, 2018 Taxation in Ireland

AI taxDUBLIN – Irish taxpayers will soon be chatting to robots to get basic information about their taxes.

The Office of the Revenue Commissioners of Ireland has announced that it is working on a new project to introduce artificial intelligence to its call centres to provide virtual assistance to taxpayers.

The new pilot project will involve the use of voice recognition technology to understand the requests and questions of taxpayers calling the tax authority.

It is hoped that the system will provide more effective and quicker delivery of routine information to callers.

The AI system is not yet intended to replace call centre staff dealing with individualised and complex queries.

Commenting on the implication of implementing the new technology, the CIO of the Office of the Revenue Commission...

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New Zealand Sees Delay in Capital Gains Tax

September 10, 2018 Taxation in New Zealand

UK Taxman Targets Criminal OrganizationsWELLINGTON – New Zealand’s expected capital gains tax may not eventuate, as a working group delays recommending the measure.

New indications have emerged that the New Zealand Tax Working Group will not be recommending a full implementation of a Capital Gains Tax in its upcoming interim report.

The Tax Working Group was established by the New Zealand government shortly after the last election, and it was given the task of evaluating potential changes to the tax system.

The potentially recommended changes will form the basis of the Labour Party’s tax policy when going into the next election.

One major aspect of the Tax Working Group’s work is the evaluation of a possible tax on capital gains, as a means of addressing tax disparity between different investment types and also as a means of...

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Give Us Solar Panels and Win Our Vote, Say New Zealanders

September 3, 2018 Taxation in New Zealand

Los paneles solares una realidad en México.WELLINGTON – The next election in New Zealand could go to the party which promise to pay for residential solar panels and electric cars, according to a survey.

Last week the New Zealand research company, Horizon Research, issued the results of a new survey into the opinions of New Zealanders on the potential use of tax subsidies to reduce emissions and address climate change.

Approximately 64 per cent of people surveyed agreed that climate change is a problem, and approximately 29 per cent said that it was an urgent issue, while 30 per cent said that it was either a problem for later or not a problem at all.

Approximately 71 per cent of people who were surveyed said that they would support the introduction of subsidies on the purchase and installation of residential solar power systems.

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