Thailand to Tax Digital Businesses

June 26, 2018 Taxation in Thailand

digital taxes in thailandBANGKOK – Tax authorities in Thailand are modernizing their systems to try and tax online businesses.

The director-general of the Revenue Department of Thailand, Ekniti Nitithanprapas, has announced that the government is now looking at establishing new regulations which would require foreign online business to report any transactions that they have in Thailand.

Thailand, like many other nations around the world, is growing increasingly concerned with the advent of large digital businesses which make profits from Thai taxpayers, but do not pay any taxes in return.

In an effort to clamp down on these non-paying businesses, Thai authorities have already introduced new legislation which requires payment of VAT by businesses making more than TBH 1.8 million per year.

However, the tax author...

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Chile to Go After Online Multinationals

June 25, 2018 Taxation in Chile

Amazon tax in ChileSANTIAGO – Chile is looking to join the growing ranks of companies vying to tax online multinationals such as Uber, Netflix, and Amazon.

Late last week the Finance Minister Felipe Larrain of Chile announced that the government wants to implement new taxes on multinational digital businesses operating in Chile, in an effort to level the playing field between new digital businesses and their traditional counterparts.

Previously, the tax authorities of Chile had no mandate upon which to charge taxes to online businesses such as Spotify, Netflix, and Amazon.

The lack of taxes was due to the fact that the online businesses had no presence in the country, and therefore couldn’t be taxed.

However, no taxation methodology or rate has yet been finalized.

The Minister did state that the governm...

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Ireland, EU’s Most Expensive Drinks

June 22, 2018 Taxation in Ireland

Alcohol in IrelandDUBLIN – Taxes are pushing up the price of alcohol in Ireland, where are drink can now cost more than anywhere else in the EU.

A new report released recently by Eurostat is indicating that Irish consumers pay the highest rates of tax in Europe for alcohol and tobacco.

The new report showed that the price of alcohol and tobacco in Ireland is approximately 174 percent of the standard average price of alcohol in Europe.

Commenting on the findings, Patricia Callan of the Drinks Industry Group of Ireland, said that the high costs can be attributed to the high excise taxes levied on alcohol in Ireland.

She added that “…Ireland has the second highest excise tax rate in the EU, behind only Finland...

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Canada to Legalise and Tax Marijuana

June 21, 2018 Taxation in Canada

marijuana legalisationOTTAWA – Canada could see as much as CAD 400 million per year in extra tax revenues, following its move to legalize cannabis.

The Canadian government has become the first G7 nation legalize recreational marijuana, and alongside the newly opened up rules come the potential for significant tax revenues for the government.

The sale of marijuana in Canada will be taxed at the higher amount of either the rate of CAD 1 per gram or 10 percent of the retail price.

The revenues gathered from the tax will be split between the federal government and the provincial governments.

The federal government will take the lower of either 25 percent of all tax revenues collected, or CAD 100 million each year.

It is expected that the total amount of sales in the new legal marijuana industry could rise to as m...

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Hungary Taxing Migration NGOs

June 20, 2018 Taxation in Hungary

Migration in HungaryBUDAPEST – Hungary’s government is taking an anti-immigration stance, and looking to tax those helping migrants come into the country.

The government of Hungary has announced that it will be implementing a special 25 percent tax on any NGOs which it says are “organizing immigration”.

The tax will presumably be levied on all aid groups which help migrants come to Hungary, however, the exact details of who will be targeted by the tax have not yet been released.

Further, the mechanism for collecting the tax, or when exactly the tax will come into force have also not been detailed.

The government claims that the tax is needed because defending the nation against illegal migration carries a significant financial burden, which has and will continue to weigh down the national budget.

Quest...

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