Tensions are rising over the UK’s 50 percent top income tax rate, as the country’s leading analysts weigh in with their opinions on the topic, and the government delays on making any decisions regarding the tax’s lifespan. In the latest development on the debate in the UK over the 50 percent income tax rate, on September 8th the Shadow Chancellor of the Exchequer Ed Balls said that cutting the tax should not be a priority for the government, and that supporters of ... Read More

Some of France's wealthiest individuals have called for the government to instate a one time tax on the ultra-rich, to aid the country's financial situation. In an open letter publicised on August 23rd some of France's wealthiest taxpayers claimed that they would rather pay an extra one time tax than see the country undergo extensive austerity measures and spending cuts. It was explained that such a tax would also be preferable to seeing permanent cut being instated to tax exemptions enjoyed by high ... Read More

The government of France is investigating means to raise tax revenues in order to put a reign on the national budget deficit, with a new tax on the highest income earners being seen as a viable option. In a press interview to the local media made on August 19th in Paris the Minister of the Budget of France Valérie Pécresse said that new tax measures will be implemented for individual taxpayers, with a raised rate for the country’s highest earners. The Minister ... Read More

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

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