Apr 18, 2012
BUCHAREST – Romania will soon reevaluate its tax administration system, which is currently regarded as having some of the most complex tax environments in the world. On April 17th the Prime Minister of Romania Mihai Razvan Ungureanu dismissed the head of the National Agency of Fiscal Administration (ANAF), after the department failed to reach its [...]
BUCHAREST - Romania will soon reevaluate its tax administration system, which is currently regarded as having some of the most complex tax environments in the world.
On April 17th the Prime Minister of Romania Mihai Razvan Ungureanu dismissed the head of the National Agency of Fiscal Administration (ANAF), after the department failed to reach its goal of reducing the occurrence of tax evasion in Romania and raising tax revenues by EUR 2 billion by 2012. The Prime Minister also announced that ANAF would ... Read More
Apr 17, 2012
PRETORIA – The Minister of Finance of South Africa has rejected recent claims made by the national media regarding the extent of taxes owed by high net worth individuals in the country, and issued an assurance that the government will take steps to prevent rich taxpayers from neglecting their tax obligations. On April 16th the [...]
PRETORIA - The Minister of Finance of South Africa has rejected recent claims made by the national media regarding the extent of taxes owed by high net worth individuals in the country, and issued an assurance that the government will take steps to prevent rich taxpayers from neglecting their tax obligations.
On April 16th the Minister of Finance of South Africa Pravin Gordhan released a written response to a parliamentary query, indicating that the national media have recently reported that high net worth ... Read More
Apr 16, 2012
In an attempt to create new revenue streams, governments and tax authorities around the world are showing increasing interest in implementing more taxes on the tourist industry, but any steps to introduce new taxes are being met with a rising level of criticism from operators in the tourism industries. Tourism taxes are being frequently considered [...]
In an attempt to create new revenue streams, governments and tax authorities around the world are showing increasing interest in implementing more taxes on the tourist industry, but any steps to introduce new taxes are being met with a rising level of criticism from operators in the tourism industries.
Tourism taxes are being frequently considered by governments around the world as a measure to plug spiraling budget gaps, with New Zealand, the UK and Bulgaria currently seeing debates on the topic. In recent ... Read More
Apr 13, 2012
VIENNA – The governments of Switzerland and Austria could sign a new tax agreement within a matter of the next few days, potentially leading to the recovery of more than EUR 1 billion in previously unpaid taxes in Austria. In an interview given to the Austrian media on April 12th the national Minister of Finance [...]
VIENNA - The governments of Switzerland and Austria could sign a new tax agreement within a matter of the next few days, potentially leading to the recovery of more than EUR 1 billion in previously unpaid taxes in Austria.
In an interview given to the Austrian media on April 12th the national Minister of Finance Maria Fekter revealed that Austria and Switzerland are ready to sign a tax deal, which could dramatically reduce the use Swiss banks accounts by Austrian taxpayers avoiding ... Read More
Apr 12, 2012
DUBAI – The United Arab Emirates will not be implementing any corporate or personal income taxes for at least another two years, and proposals to institute a Value Added Tax system are equally far off into the future. During an interview on a local television channel on March 11th the Minister of Finance and Industry [...]
DUBAI - The United Arab Emirates will not be implementing any corporate or personal income taxes for at least another two years, and proposals to institute a Value Added Tax system are equally far off into the future.
During an interview on a local television channel on March 11th the Minister of Finance and Industry of the United Arab Emirates Hamdan bin Rashid Al Maktoum confirmed that the UAE will not see the introduction of a corporate income tax in the budget ... Read More
Apr 11, 2012
NEW DELHI – Recent investigations by national tax authorities have proven that businesses across India evaded billions in taxes last year, with one particular group of related entities neglecting to pay nearly INR 8 billion in one year alone. On April 10th the Ministry of Finance of India released a statement revealing that investigations conducted [...]
NEW DELHI - Recent investigations by national tax authorities have proven that businesses across India evaded billions in taxes last year, with one particular group of related entities neglecting to pay nearly INR 8 billion in one year alone.
On April 10th the Ministry of Finance of India released a statement revealing that investigations conducted over the first 11 month of the 2011 – 2012 fiscal year by officials of the Central Board of Customs and Excise (CBEC) and the Central Excise Intelligence ... Read More
Apr 5, 2012
WASHINGTON D.C. – The Tax Freedom Day® in the US in 2012 will fall on April 17th, although this point would come nearly one month later if the national budget deficit was taken into account. The US based non-government institute the Tax Foundation has completed and published the results of its annual calculation of the [...]
WASHINGTON D.C. - The Tax Freedom Day® in the US in 2012 will fall on April 17th, although this point would come nearly one month later if the national budget deficit was taken into account.
The US based non-government institute the Tax Foundation has completed and published the results of its annual calculation of the date of Tax Freedom Day® in the US for 2012, unveiling that US taxpayers will need to work for a total of 107 days in 2012 before they ... Read More
