The Irish Government’s Commission on Taxation has released its report reviewing the Irish taxation system and its subsequent recommendations.
Today, the Commission on Taxation handed its report with over 250 recommendations regarding Ireland’s financial taxation system to Brian Lenihan, Minister of Finance. Due to errors in its indices, the 600 page report will not be made available to the public until early to mid-September. The report was originally requested to be complete on the 20th of September but has been completed ahead of the initial schedule.
Among others, the main recommendations include the introduction of water tax and increased carbon taxes...Read More
The idea for a new financial transaction tax in the UK has been floated by the chairman of Britain’s Financial Services Authority.
Lord Adair Turner, chairman of Britain’s Financial Services Authority (FSA), has proposed that the UK implement a tax on financial transactions, so as to detract from the appeal of wide-spread foreign currency speculation by financial institutions. The tax, which is often referred to as the Tobin Tax, would see a levy on capital flows. The rate of levy has not yet been discussed.
In its original form, the Tobin tax was envisioned as a global tax with it being implemented equally everywhere, as opposed to a selective number of nations...Read More
The Canadian Revenue Agency have announced that they will enter into discussion with Swiss bank UBS in regards to possible tax evasion information.
Following swiftly upon news that the US Government and UBS had reached a settlement in their offshore account tax evasion dispute, the Canadian Revenue Agency (CRA) has announced that they too will engage in discussions with UBS in regards to divulging information about Canadian national tax evaders.
On the 21st of August it was announced by Jean-Pierre Blackburn, Canadian National Revenue Minister, that the Canadian Government will approach UBS in an effort to uncover information about Canadians using offshore accounts with UBS to evade their tax liability. The meetings have been scheduled for the 2nd of September...Read More
August 26, 2009 Taxation in Brazil
In the face of falling revenues, Brazil’s governing coalition are looking to implement a new tax on financial transactions.
Facing a financial situation not dissimilar to governments worldwide, Brazil’s leading coalition in Congress will attempt to instate a new financial transaction tax, to offset its own falling revenues and increased spending. The government will attempt to push through a bill which will see a 0.1% tax implemented on all financial transactions. The tax, if accepted, will see an extra BRL12 billion in the Government’s coffers per year. The extra money is intended to finance Brazil’s healthcare system...Read More
Ireland could see the balance of its taxation system reshuffled, creating new taxes and diminishing those already established.
Ireland may soon see a restructuring of its taxation system, if suggestions by Ireland’s Commission on Taxation to the Government are accepted. The Commission, which was created in 2008 to examine Ireland’s taxation structure, is expected to release a report by the 28th of August with its recommended taxation changes.
The report will feature 250 recommendations to the Irish government. Key changes within the report include the introduction of new taxes under the proviso that they are accompanied by reduction or complete removal of other taxes, leaving the final taxation liability of a household the same as it was before.
The Commission on Taxation is expected to ...Read More