Consumption Tax tagged posts

Philippines Paves Way For Green Cars

May 24, 2011 Taxation in Philippines

Environmentally friendly cars The government of Philippines is aiming to instate tax reductions in order to make a significant positive impact in efforts to reduce the country’s levels of greenhouse gas emission and bolster public acceptance of eco products.

The House of Representatives of the Philippines is one step closer to instating a new green tax measure, after having approved the first reading of a new bill which would see a 30 percent decrease in the factory price of eco-friendly automobiles.

The new draft bill would lower the commodity tax rate faced by car manufacturers, for the next five years, on completed eco-automobiles by approximately PHP 25 000 per vehicle...

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Pakistan to Throw New Punches on Tax Evasion

May 23, 2011 Taxation in Pakistan

Peshawar shop - smileThe government of Pakistan is readying to release its latest budget plan, and is sending strong indication that in the next year it will renew its fight against tax evasion and the underground economy.

With a little more than a week to go before the June 3rd reveal of Pakistan’s latest government budget plan, the Federal Finance Minister Dr Abdul Hafeez Shaikh has given further indication on the government’s intentions to improve tax compliance in the coming fiscal year. At a press event held in Lahore on May 22nd, the Minister said that new efforts would be expended to make an equitable tax system, with more attention paid to stamping out tax evasion.

The Minister said that the Federal Board of Revenue (FBR) has already completed work to identify over 700 000 high-income earners wh...

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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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