Capital tagged posts

EU Emphasizes Tax For Developing Economies

June 15, 2010 International Tax CooperationTaxation in EU

European Flag in front of the European Council building Justus LipsiusAt a recent meeting, the Council of the European Union (CEU) reiterated its stance on the importance of adequate and well-structured tax systems for developing nations.

On June 14th the CEU released notes on the conclusions reached at the 3023rd Foreign Affairs Council Meeting, held in Luxemburg. The meeting yielded 10 points on the subject of cooperation with developing nations in promoting good governance in tax matters.

According to the CEU, a fair and efficient tax system underpins state legitimacy, and strengthens the social contract and sense of accountability between the Government and citizens...

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Asian Economies Warned of Capital Spikes

May 19, 2010 Taxation in ChinaTaxation in Hong KongTaxation in IndiaTaxation in PhilippinesTaxation in SingaporeTaxation in South KoreaTaxation in ThailandTaxation in Vietnam

Independence Monument - Phnom Penh, CambodiaGovernments of emerging Asian economies have been warned to be ready for sudden increases in investment capital inflows, and prepare appropriate policy responses.

On May 18th the Asian Development Bank (ADB) released its annual Asian Capital Markets Monitor report, which investigates the performance and outlooks for the equity, bond and currency markets in emerging economies. According to the report, several factors have cumulatively increased the risk of Asian economies facing sudden high levels of investment capitals, leading potential destabilization of currency and financial markets.

Amidst worries of a continued national debt crisis in Greece and the Euro-zone, international investors have been paying greater attention to Asian economies...

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Switzerland Fared Well in Recession

March 24, 2010 Taxation in Switzerland

International Monetary Fund [oct 25]Switzerland has weathered the international financial and economic crisis well compared to other developed economies, due to the Swiss Governments appropriate expansionary policies, strong public finances, and financial regulatory regimes.

As part of its annual member-state review, the International Monetary Fund (IMF) has released a report evaluating and praising the actions taken during the financial crisis by the Swiss Financial Market Supervisory Authority (FINMA) and the Swiss National Bank (SNB) as appropriate, and regards the economic performance of the country as good with a positive future outlook.

Despite its relatively high dependence on the financial market, Switzerland experienced only a 1.5 percent contraction in GDP in 2009, and the IMF expects a 1...

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NZ Prime Minister Delivers Awaited Economic Speech

February 9, 2010 Taxation in New Zealand

DSC_7697In his first statement to the Parliament of the year, New Zealand Prime Minister John Key has outlined the Government’s intentions to focus on fostering economic growth for the country, indicating that several changes will be made to the national fiscal system.

At the first Parliament session of 2010, held on February 9th, John Key revealed the Government’s economic plans for 2010, emphasizing that attention will be paid to such issues as taxation, education, social services, resource and environmental issues, and constitutional matters.

As promised earlier this year, John Key disclosed his opinions on the recommendations brought forward to the Government by the Tax Working Group...

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New Zealand’s Tax System is Unsustainable

November 26, 2009 Taxation in New Zealand  No comments

According to the Tax Working Group, a New Zealand Government sponsored think tank, the country’s tax system is unsustainable. The conclusion was presented in the summary paper of the Tax Working Group’s fifth meeting, published November 25th. Growth, fairness and integrity issues – were concluded to be the primary aspects of the problem.The meeting summary also stated that the country’s tax base needs to be broadened for these to be resolved.

The Tax Working Group is a New Zealand government initiated project, involving twelve private and academic sector taxation experts. According to Bob Buckle, Chairman of the Tax Working Group, the group “will consider topics like the fiscal framework, the structure of personal income tax, corporate tax, GST and the integrity of the tax system”.

The mee...

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