Ministers Face Taxation in Samoa

June 6, 2017 Taxation in Samoa

Church tax in SamoaAPIA – The clergy of Samoan churches may soon have to pay tax on the monetary gifts that they are given, despite protestation from the churches and members of the public.

The government of Samoa has now approved legislation which will force church ministers in the country pay taxes.

Currently, personal donations made to the ministers by people within their congregation are not taxed on personal donations made to them due to their work in the church.

The government hopes to tax such donations, as it sees the funds as being an income and believes that all individuals in the country should pay their share of the national tax burden.

The government has allowed a tax-free threshold to be implemented, with ministers who earn less than USD 7 500 being allowed to forego paying taxes in the offer...

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60% Marginal Rate Still Plaguing British Workers

June 2, 2017 Taxation in UK

marginal tax rates in the UKLONDON – Hundreds of thousands of Uk taxpayers will see a tax rate of 60 percent this year, unless the government does somethign to close up an unplanned loophole.

As many as 800 000 individual taxpayers in the UK will face a marginal tax rate of 60 percent, according to the conclusion of new research conducted by the UK think tank the Institute of Fiscal Studies.

Under the current tax regulations in the UK, individuals who earn between GBP 100 000 and GBP 123 000 will face a marginal tax rate of 60 percent, due to a loss of their tax-free personal tax allowance.

The high marginal tax rate is an anomaly, and was not initially intended to be part of the tax system, however, the government has consistently failed to fix the situation.

If the government does not remedy the oversight in th...

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Wealthy Danes Dodge a Third of Their Taxes

June 2, 2017 Taxation in DenmarkTaxation in Norway

Tax Evasion in ScandanaviaCOPENHAGEN – Wealthy taxpayers are much more likely to avoid significant portions of their tax obligations, with the wealthiest people in Scandanvian countries skipping out on nearly a third of the taxes they owe.

Late last month researches from Norway and Denmark published an academic article showing that the propensity to evade personal tax obligations rises steeply with wealth.

The researchers used data made available in the Panama Papers and cross-referenced them with information made publically available by local tax authorities about individual taxpayers, in order to estimate how much tax was evaded by wealthy individuals.

It was found that in Norway, Sweden, and Denmark the richest 0...

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Bed Tax Coming to New Zealand

June 1, 2017 Taxation in New Zealand

Hotels in AucklandAUCKLAND – Tourists coming to New Zealand’s biggest city will be forced to pay taxes to help the city host concerts and sports events.

On June 1st the Finance and Performance Committee of Auckland, New Zealand, voted on, and approved a proposed bed tax to be levied on retail accommodation in the city.

The new tax will be paid by businesses in the accommodation industry, at a rate of NZD 3 to NZD 6 per night per customer for hotels, and NZD 1 to NZD 3 for motels.

The tax is intended to raise as much as NZD 135 million per year, with the funds earmarked for payment of the costs associated with hosting international events in the city.

The tax was passed with 11 votes in support and 8 votes in oppositions, however two of the council members abstained from voting.

The tax has been a long-d...

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Russia Will Tax Cryptocurrencies

May 31, 2017 Taxation in Russia

Cryptocurrency taxMOSCOW – Russia hopes to get a tighter hold of cryptocurrencies by treating them as regulated digital goods.

In a statement made by the deputy chairwoman of the Central Bank of Russia, Olga Skorobogatova, it was revealed that the national government is looking at legislation to formalize the treatment and taxation of cryptocurrencies like Bitcoin.

The new rules would see all cryptocurrencies classified as digital goods, and taxed as such.

Along with taxing the currencies, the new legislation will allow the government to monitor and, to a certain extent, control the creation and distribution of cryptocurrencies.

The chairwoman explained that the need for the new taxation and regulation of cryptocurrencies is due to the fact that the currency is not backed by any reserves, a situation whic...

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