Prime Minister tagged posts

PM of Japan Insists on New Taxes

September 5, 2011 Taxation in Japan

Consumption Tax in JapanThe newly appointed Prime Minister of Japan has promised a fresh push towards new tax measures to shore up the country’s financial stability and decrease the national debt levels.

Throughout the weekend following the appointment of Yoshihiko Noda’s as the Prime Minister of Japan, the new leader said that he will soon set out to introduce a temporary increase to the country’s consumption tax rate, however Yoshihiko Noda has not yet revealed what rate he will seek to instate. In an interview conducted on September 4th the new Finance Minister of Japan Jun Azumi said that the Prime Minister will hold discussions with opposition parties and the Finance Ministry, and have a plan for a tax increase by the end of October.

Yoshihiko Noda has repeatedly advocated the necessity to raise cons...

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IMF Backs Japanese Prime Minister on Tax Reform

July 15, 2010 Taxation in Japan

Asia21_026Japanese taxpayers could experience a significant increase to the national Sales Tax rate in the near future, after the International Monetary Fund called for fiscal reforms.

Japan’s political climate has been turbulent recently following the Prime Minister’s Sales Tax rate hike proposal. Naoto Kan claimed that a doubling of the current 5 percent Sales Tax rate would be an ideal step in addressing the nation’s ballooning debts, which have reached 218 percent of GDP. The tax issue was seen as a significant reason behind Naoto Kan’s political party suffering a defeat at the recent Japan Upper House elections...

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Tax Issues Emerging for Swedish Election

July 5, 2010 Taxation in Sweeden

Fredrik ReinfeldtArguments surrounding tax rates will soon come to the forefront of election campaigns in Sweden, after the current Prime Minister began national discussion by ruling out tax cuts for 2011 if his party is elected.

Speaking to journalists on July 4th Fredrik Reinfeldt, Prime Minister of Sweden and leader of the Moderate Party, adamantly ruled out the possibility of cuts to personal tax rates in 2011, if his party is reelected. He conceded that the only possible exemption to the tax policy will be pensioners, as Fredrik Reinfeldt had previously promised an easing of tax burdens for the elderly population in the economy...

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Japan Considering Sales Tax Hike

June 21, 2010 Taxation in Japan

Watermark on Japanese 10,000 Yen Note, Macro PhotoThe Japanese Government is considering doubling the national Sales Tax rate, in order to curb the national public debt while retaining current levels of public services.

Late last week Japanese Prime Minister Naoto Kan declared the need for the Japanese Government to carryout comprehensive reforms to the nation’s tax system and drastic cuts to public spending, and called opposition parliamentary members to join in supporting his proposal. Naoto Kan also revealed that he is willing to consider doubling the current 5 percent national Sales Tax.

The Prime Minister revealed that an exact tax rate will be finalized by March 2011, and for the purposes of initial investigations, the 10 percent rate will be used as a “reference point”...

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Australian Tax Review Report Released

May 3, 2010 Taxation in Australia

Prime Minister of Australia, Kevin Rudd addresses the world's mediaThe long-awaited review of Australia’s tax system has been released, marking the initial steps in the Government’s promised overhaul of the nation’s tax system. According to Government statements, the tax reforms recommended in the review are refined to work in unison with the recovering international economy, while making the national tax system simpler, fairer and more beneficial to Australia.

On May 2nd the Australian Government released its Australia’s Future Tax System report, which has come to be commonly called the “Henry Review”. The release was accompanied by the Australian Government’s immediate initial assessment of the report’s recommendations...

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