Internal Revenue Services

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Good Economic Outlook for BVI

Annual government corporate renewal fees collected in the British Virgin Islands (BVI) grew in 2009, as did the number of sea vessels registered in the first two months of 2010, leading the Government officials to extol a sense of optimism in the economic prospects for the 2010 year.

China Sets New Tax Goals

The Government of the People’s Republic of China (PRC) has set out five macro-level goals that will be upheld in its approach to taxation policy in 2010, and taxation authorities of all levels must also follow three new “transformations”, in order to best implement the new goals.

Australia Makes Several Tax Changes

The Australian Government has made alterations to the Goods and Service Tax (GST) legislation, aiming to improve compliance and lower taxpayer costs. In an effort to raise taxpayer certainty, the Government has also cut over 100 provisions within the tax laws, which had previously allowed the Commissioner of Taxation an indefinite time period within which to amend a taxpayer’s tax assessment.

International Tax Transparency Reviews Start

The international fight against cross-border tax evasion has taken a step forward with the initiation of a peer review group which aims to assess the progress made by nations in implementing internationally agreed standards of tax transparency.

Tobacco Taxes Rising Worldwide

According to numerous political and anti-tobacco activists worldwide, taxes on cigarettes and tobacco products should be increased to raise Government revenues and deter smoking.

Nov 10, 20090

UK and Australia Seeking UBS Data

Categories: International Tax Cooperation, Offshore Banking, Taxation in Australia, Taxation in Switzerland, Taxation in UK

Swiss bank UBS has confirmed that the governments of the UK and Australia, amongst others, are seeking information about possible tax evasion from their own nationals. According to the notes within the UBS third quarter report, following the settlement of its case with the US Department of Justice and Internal Revenue Services, UBS began to receive request from other jurisdictions for similar information. The UBS report said that "In particular, the revenue services of the UK and Australia have served upon UBS and ... Read More

Latest news

Good Economic Outlook for BVI

China Sets New Tax Goals

Australia Makes Several Tax Changes

International Tax Transparency Reviews Start

Tobacco Taxes Rising Worldwide

UK and Australia Seeking UBS Data

Categories: International Tax Cooperation, Offshore Banking, Taxation in Australia, Taxation in Switzerland, Taxation in UK

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