tax break tagged posts

Jordan Enacts Several Tax Cuts

November 2, 2015 Taxation in Jordan

AMMAN – Business involved in ICT, infrastructure development and public transport in Jordan will not need to pay sales taxes and excise taxes, as the government announces a new round of tax cuts.

Over the weekend the Prime Minister of Jordan Prime Minister Abdullah Ensour announced that a number of new tax incentives will be offered to businesses in selected industries in order to boost productivity while encouraging greater levels of customer service and development.

The Prime Minister said that business activities related to the development of software, apps and games, online portals will be exempt from sales tax and customs duties.

Further, any goods or services necessary to the provision of ICT services will enjoy a zero-rating for the purposes of sales tax.

It was also announced tha...

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Tax Breaks for Electric Cars Used Only By Wealthy

September 25, 2015 Taxation in USA

WASHINGTON D.C. – Tax breaks for electric cars, solar panels and other green-technology in the USA are not being used by everyday people but by the country’s richest individuals.

New analysis completed by the researchers from the University of Carolina shows that tax breaks in the USA aimed at encouraging consumers to use green technology is being used almost exclusively by the richest people in the country.

Currently the federal government is offering tax credits of up to USD 7 500 for the purchase of electric vehicles, in an effort to encourage the use of such environmentally friendly technology.

However, over the course of 2006 to 2012, the latest years for which data was available, approximately 90 percent of these tax breaks were taken by the top 20 percent of earners in the country...

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India Looks at Tax Break for Credit Cards

June 23, 2015 Taxation in India

NEW DELHI – The government of India hopes to make tax evasion harder by ensuring that more people use traceable electronic methods to make their regular payments.

On June 22nd the government of India released a new draft paper detailing a number of tax measures aimed at reducing the incidence of tax evasion it the country, including tax breaks for using credit and debit cards instead of cash.

Under the details of the government’s proposal, individual consumers who carry out a significant portion of their regular and incidental spending using a credit card, debit card, or other form of electronic payment, should be eligible to receive a small tax concession on their personal income tax obligations.

Further, in order to incentivize retailers to accept payment with cards, it is proposed t...

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Tax Credits for Film Boost Revenues in UK

February 25, 2015 Taxation in UK

LONDON – The tax credits given to large film productions in the UK have now been shown to boost tax revenues, increase employment, and actively draw more productions into the country.

On February 24th the British Film Institute issued a new statement showing that for every GBP 1 of tax relief provided to large scale film production leads to the collection of an additional GBP 2.48 in tax revenues, and a significant boost to production.

Currently the production of a film with a qualifying budget of at least GBP 20 million, will be eligible for a 25 percent rebate on expenditures in the UK up to GBP 20 million, with all further spending qualifying for a 20 percent rebate, under the condition that at least 10 percent of the film’s total production expenditure is in the UK.

In its statement,...

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Australia Needs to Drop Inefficient Tax Breaks

January 30, 2015 Taxation in Australia

CANBERRA – The Australian government could reach a budget surplus without cutting spending, if it begins to remove inefficient and poorly targeted tax breaks, concessions, and allowances.

On January 29th the non-government organization Australian Council of Social Service (ACOSS) issued a new statement urging the national government to concentrate on closing unnecessary tax loopholes and concessions in order to reach a budget surplus, instead of focusing on cutting spending.

According to the experts of the ACOSS, in 2015 the government could improve the budget by as much as AUD 13 billion, and by as much as AUD 18 billion in 2016 by removing tax benefits aimed primarily at middle- and high-income earners.

In its statement the ACOSS indicated that in 2015, AUD 6...

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