Jan 6, 2010
Ireland’s total tax collections fell by €7.7 billion to €33 billion in 2009. Figures released by Ireland’s Department of Finance show that the country’s economy and tax revenues are still reeling from last year’s financial crisis, though the situation is experiencing marginal improvements. According to the Exchequer Statement released on January 5th, tax collections for [...]
Ireland’s total tax collections fell by €7.7 billion to €33 billion in 2009.
Figures released by Ireland’s Department of Finance show that the country’s economy and tax revenues are still reeling from last year’s financial crisis, though the situation is experiencing marginal improvements. According to the Exchequer Statement released on January 5th, tax collections for the 12 month ending in December were 3.9 percent lower than the Department’s targets, and down by 19 percent compared to 2008. Although the Exchequer deficit for the ... Read More
Dec 24, 2009
On December 18th, the UK’s HM Revenue & Customs released a brief Changes to the Income Tax Credit for Foreign Dividends. The changes will affect shareholders in offshore funds and in foreign companies with holdings of 10 or more percent of issued share capital, with more taxpayers now eligible for dividend tax credits. Shareholders in [...]
On December 18th, the UK's HM Revenue & Customs released a brief Changes to the Income Tax Credit for Foreign Dividends. The changes will affect shareholders in offshore funds and in foreign companies with holdings of 10 or more percent of issued share capital, with more taxpayers now eligible for dividend tax credits.
Shareholders in offshore funds will be evaluated by whether they have holdings in equity based funds, or those heavily invested in interest bearing assets. Individuals with receiving distributions from ... Read More
Oct 21, 2009
Negotiations between the proposed coalition of Germany’s Christian Social Union (CSU), Christian Democratic Union (CDU) and Free Democratic Party (FDP) have reached a framework for future tax cuts. Following a weekend of negotiations, statements were made on Monday the 19th of October, releasing some indications of Germany’s future tax direction. Much detail concerning the agreements [...]
Negotiations between the proposed coalition of Germany’s Christian Social Union (CSU), Christian Democratic Union (CDU) and Free Democratic Party (FDP) have reached a framework for future tax cuts.
Following a weekend of negotiations, statements were made on Monday the 19th of October, releasing some indications of Germany’s future tax direction. Much detail concerning the agreements reached and projections created during the negotiations has been kept secret, but clear indication has been made that all involved parties are dedicated to providing tax ... Read More
Oct 9, 2009
According to latest reports published by Internal Revenue Service (IRS) the government’s tax revenue fell 25%, compare to the same period last year. The corporate taxpayers paid 56% less, while individual taxpayers payed 20% less. Taking in consideration such significant drops, the Congressional Budget Office estimates that only 14.3% of GDP this year will come [...]
According to latest reports published by Internal Revenue Service (IRS) the government’s tax revenue fell 25%, compare to the same period last year.
The corporate taxpayers paid 56% less, while individual taxpayers payed 20% less. Taking in consideration such significant drops, the Congressional Budget Office estimates that only 14.3% of GDP this year will come from the tax collection. Historically, USA enjoys approximately 18% of GDP from tax revenue.
According to experts, the predominant cause behind the tax revenue downfall is the present ... Read More
