Consumption Tax tagged posts

Tax Increase to Hurt Economy and Jobs

May 19, 2011 Taxation in UK

Smoke on a planeThe UK government’s plan to raise Air Passenger Duties will lead to an economic slowdown for the country, and increased levels of harmful pollutants being released into the atmosphere.

The UK government’s plans to raise Air Passenger Duty (APD) tax once again has come under fire, with a new report commissioned by the airline EasyJet, released on May 18th, claiming that the tax will have significant negative effects on the national economy and the aviation industry.

In late March 2011 the UK government released a proposal for the overhaul of the national APD rules. Under the current system, flyers are charged a tax on their flight, with the rate based on the distance traveled and class of ticket taken...

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Kenyan Tax Overhaul Could Raise KES 40 Billion

March 18, 2011 Taxation in Kenya

traditional birth attendantKenya has the potential to see staggering improvements in its tax revenues collections if the government were to re-examine and improve the tax system.

An overhaul of taxes in Kenya could see the government net over KES 40 billion (approx. USD 467.2 million) in extra revenues per year. The suggestion was made by the representative of the International Monetary Fund (IMF) in Kenya Ragnar Gudmundsson at a press conference held in Nairobi on March 17th.

In order to significantly raise overall tax collections, the government was advised to greatly broaden its tax base, simplify the Value Added Tax (VAT) system, and remove the wide array of currently available tax exemptions.

Ragnar Gudmundsson said that Kenya would see overall tax revenue improvements if its VAT system was overhauled, and an e...

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Tax Compliance Will be Addressed in Mexico

March 10, 2011 Taxation in Mexico

Our Neighbour to the SouthMexico’s biggest opposition party is set to reveal a new proposal which will lower sales taxes and corporate income taxes in the country, in an effort to raise tax revenues and tax compliance.

Senator Francisco Labastida, a leader in Mexico’s largest opposition party the Institutional Revolutionary Party (PRI), has revealed that a new proposal will be made public tomorrow to rework the country’s tax rules and raise national tax revenues by an estimated MXN 140 billion (approx. USD 11.68 billion).

The PRI’s proposed changes will lower the national sales tax from the current level of 16 percent to 13 percent...

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US Needs Gas and Fuel Tax Overhaul

March 9, 2011 Taxation in USA

Speculators knock OPEC off oil-price perchThe head of a major international oil company has come forward to recommend that the US should heavily increase taxes on gasoline and carbon emissions, while expanding the country’s oil extraction capacity.

On March 8th John B. Hess, chief executive of the international oil company the Hess Corporation, spoke at the CERAWeek 2011 conference, saying that the US should consider instating a new carbon tax system, raising fuel tax by more than 500 percent, maintaining current oil drilling tax subsides, and mandating efficiency standards for automobiles.

Speaking at the conference John B. Hess said that, “…an energy crisis is coming, likely to be triggered by oil...

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No Tax Revisions for Philippines

March 7, 2011 Taxation in Philippines

Philippine FlagsThe government of the Philippines will not raise tax rates or instate new taxes in 2011 despite recent suggestions that such action is needed in order for the country to meet its development goals.

On March 6th the Secretary of the Philippines Presidential Communications Development and Strategic Planning Office Ramon Carandan gave a statement on a government run radio station saying that no new taxes will be instated in the country this year, contrary to suggestions brought forward in a government think-tank report.

Ramon Carandan’s statement was made in reply to a study released by the Philippine Institute for Development Studies (PIDS) in February, which said that the government needs to instate new taxes to gather the revenues necessary for the country to meet its Millennium Developme...

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