Corporate Taxes tagged posts

Fiji Fights Poverty with Tax Cuts

November 29, 2011 Taxation in Fiji

Tax Rates in FijiSUVA – The government of Fiji is taking action to eradicate poverty in the country by lowering taxes for almost all of the nation’s taxpayers.

Over the weekend the Prime Minister of Fiji Frank Bainimarama made his annual budget address in Suva, announcing a number of tax changes aimed at lowering tax burdens for the majority of taxpayers, and raising taxes for the country’s highest earners.

From the start of next year the tax threshold in Fiji will be raised to FJD 15 600, from the current level of FJD 15 000. All earnings above the threshold, and up to a level of FJD 22 000 will be taxed at a new rate of 7 percent, compared to the current rate of 25 percent. Earnings exceeding FJD 22 000 will be levied at a rate of 20 percent...

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Japan Passes Recovery Funds Tax Bill

November 25, 2011 Taxation in Japan

Japanese TaxesTOKYO – The major political parties of Japan have come to some agreement on the matter of taxation, taking the first steps to increasing rates and raising extra funds for the country’s rebuild following the recent spate of natural disasters.

Months of political debate came to an end on November 24th when the Lower House of Parliament of Japan approved new legislation which paves the way for the government to hike some tax rates as a means of raising revenues to fund earthquake recovery programs.

The legislation allows the government to instate an increase to the country’s personal income tax rate, for a period of 25 years starting from 2013. The extra funds raised by the tax rate increase will be used exclusively to service the government’s sovereign debts...

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US Companies Paying Full Share of Taxes

September 14, 2011 Taxation in USA

US Corporate Income TaxUS companies currently face on of the highest tax rates in the world, with their effective charges eclipsing those faced by companies in almost all OECD countries.

In a new report examining corporate tax rate in the US, the Tax Foundation has blasted back at claims that US corporations are not paying enough taxes, saying that the country has one of the highest statutory corporate income tax rates in the developed world. The analysis, which was published in September 13th, also showed that the country’s effective tax rate is also far above the average rate seen in OECD nations.

According to the authors of the report, the statutory income tax rate in the US is currently at 39.2 percent...

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Dutch Media Raises Red Flag on Tax Structuring

September 13, 2011 Taxation in Netherlands

Dutch Media Raises Red Flag on Tax StructuringDutch business entities are now being used by most large international companies for the purposes of tax planning, with the flow of money through such structures now reaching over EUR 10 trillion.

According to new research conducted by Het Financieele Dagblad, a leading Dutch financial newspaper, the Netherlands are quickly becoming one of the most popular jurisdictions used by multinational corporations for international tax planning. The report shows that out of the 100 largest companies in the world, 80 make use of Dutch entities for tax planning.

The detailed analysis, which was published by the newspaper on September 12th, claimed that Dutch special financial institutions (BFI) are the most widely used entity in international tax structuring...

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Thailand Ready to Cut Business Taxes

July 26, 2011 Taxation in Thailand

Thailand Ready for Tax CutThailand could soon see a significant decrease to its corporate income tax rate, as the Revenue Department indicates its readiness to slash the tax on the government’s signal.

According to a statement made by the director general of the Revenue Department of Thailand Satit Rungkasiri on July 25th, the Department is now ready to implement a cut to the country’s corporate income tax rate, as was proposed by the newly elected Pheu Thai Party. Although, the Revenue Department is also recommending that an increase to the national value added tax (VAT) rate be instated, in order to compensate for any losses in revenue.

On July 3rd the Pheu Thai Party of Thailand won the country’s general election, gaining 265 of the 500 seats in the House of Representatives...

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