personal income tax tagged posts

Connect to Social Media and Get Taxed, Says Uganda

April 13, 2018 Taxation in Uganda

social media tax ugandaKAMPALA – Uganda’s government wants to anyone who uses social media platforms, as such technology is used primarily for gossip.

The government of Uganda is looking to enact a new tax on the use of social media on mobile devices, a move which is claimed will plug budgetary gaps, even though some are claiming it’s actually aimed at quashing dissent among taxpayers.

The new tax would be levied at a rate of UGX 100 per day per SIM card, if that SIM card is used to connect to a social media service.

The proposed tax not only encapsulates connections to traditional social media platforms such as Facebook, but also extends to platforms used primarily for communication, such as WhatsApp, Skype, and Viber.

President Yoweri Museveni claimed that the social platforms are used primarily for lugamb...

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Remittance Tax in Kuwait, A First in the GCC

April 10, 2018 Taxation in Kuwait

remittance tax in kuwaitDOHA – Foreigners working in Kuwait will have a harder time if they plan on sending money home.

Earlier this month the Parliamentary Financial and Economic Affairs Committee of Kuwait announced that it has approved a bill which would impose a tax on overseas remittance sent by expats in the country.

The new tax is intended to be tiered, in order to lessen the impact on low-income earners.

The rate of tax applied to remittance of between KWD 1 and KWD 99 is only 1 percent, while the rate of transfers of between KWD 100 and KWD 200 are set at 2 percent, 3 percent for transfers of up to KWD 499, and 5 percent on all further transfers.

The government expects that if the tax is enacted, it could lead to tax revenues f as much as KWD 70 million.

The current level of remittance in Kuwait is esti...

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Danes’ Tax Cuts Funded by Migrants

February 9, 2018 Taxation in Denmark

Danish taxesCOPENHAGEN – Danish citizens will soon enjoy a tax cut, however, it will be funded by recent migrants and those who cannot speak Danish.

Earlier this week an agreement was reached between political parties in Denmark, which will lead to lower tax obligations for Danes by shifting a portion of the tax burden to migrants.

The government’s intended tax cuts are expected to result in a drop in tax obligations of between DKK 1 850 and DKK 3 150 per year.

The tax cuts will be funded by restricting access to social welfare, mainly be ensuring that welfare can only be received by individuals who have lived in Denmark or another EU country for 7 of the last 8 years.

In addition to the welfare changes, the government hopes to find extra revenues by introducing a cost to the Danish language clas...

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South Africa Eyes Global Income Tax

July 21, 2017 Taxation in South Africa

Income Tax in South AfricaPRETTORIA – Within 2 years South Africans working overseas will be paying taxes in South Africa on their foreign incomes.

South African taxpayers working overseas may soon see a drastic rise in their tax bill, as tax authorities make moves to begin levying income tax on money earned while working overseas.

The South African Revenue Service released a proposed amendment to the national tax code, which would require any South African taxpayer working outside the country to continue paying income tax on their foreign earnings.

Under current regulations, any South African taxpayer who is out of the country for 183 per year, and meets some pre-set income thresholds will not be required to pay income tax on their overseas earnings.

The proposed legislation does allow for a rebate on the taxe...

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Bracket Creep Strikes Thousands in New Zealand

July 10, 2017 Taxation in New Zealand

Taxes in New ZealandWELLINGTON – An increasing number of taxpayers in New Zealand are being forced to pay the highest tax rate in the country, despite not being particularly wealthy or affluent.

In a new press release issued on July 10th, the New Zealand tax advocacy group the Taxpayers’ Union claimed that approximately 659 000 taxpayers in the country now pay the country’s top marginal tax rate, despite the fact that the national population numbers just under 4.8 million.

The number of taxpayers paying the top marginal tax rate is equivalent to 18.1 percent of the population.

The Union claims that in the UK the number of people paying the highest tax rate is only 364 000, even though the UK has 14 times the population of New Zealand.

It was also claimed that the number of people paying the top rate is ...

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