Italy could soon raise the rate of the national capital gains tax in an effort to take reign of the country’s escalating debt problem. In a concentrated effort to quash criticisms of the government’s handling of the country’s overwhelming debt levels, the Finance Minister of Italy Giulio Tremonti outlined the government’s plans for changes to the national tax system. The new policy was revealed in an address to the joint session of the Budget and Constitutional Affairs committees of Italy's Chamber of Deputies ... Read More

Small and medium enterprises in India could soon see greater access to investment funds, as the government looks into new policies to exempt capital gains from tax liabilities. In a statement issued on July 20th in New Delhi, the Secretary of the Department of Industrial Policy and Promotion (DIPP) Rajinder Pal Singh revealed that the Revenue Department of the Finance Ministry of India has given initial support for a newly proposed policy to grant exemptions from capital gains tax liabilities for small and ... Read More

In the lead up to the government of Kenya revealing its next annual budget plan, debates are rising across the country regarding the issue of taxation. The Finance Minister of Kenya Uhuru Kenyatta is scheduled to release the national budget plan this afternoon, June 8th. The Treasury of Kenya has indicate that the budget will outline an approximate KES 1.2 billion (USD 13.68 million) in government spending. It has also been revealed that in order to support the government’s expenditures, new foreign ... Read More

Inefficiencies in New Zealand’s tax system played a major contributing factor to the stall in the country’s economic growth last year, and several changes need to be carried out in order to correct the situation. The Organization of Economic Cooperation and Development (OECD) has completed its annual Economic Survey of New Zealand, advising that the country needs to instate a capital gains tax and overhaul the tax system to encourage savings and investments in sectors of the economy, other than property. The new report ... Read More

The UK Government has released its long-anticipated Emergency Budget, outlining several important changes to the national tax system, including increase to Value Added Tax (VAT), Capital Gains Tax (CGT), and a new Bank Tax. On June 22nd the UK's Chancellor George Osborne presented the national Emergency Budget. The new Coalition Government's budget aims to bring the UK out of its current recession, and address the country's growing deficit and cut it to a neutral level. In regards to business taxation, the budget statement ... Read More