Tax Rise tagged posts
November 24, 2014 Uncategorized
TIRANA – Taxpayers in Albania have launched into protest, claiming that new tax measures enacted by the government to secure international credit will not help reduce unemployment, boost economic growth, or cut the national debt.
Over the weekend protestors took to the streets of the capital of Albania, Tirana, to stand up against a number of recently approved tax changes, claiming that the amendments will further weaken the financial position of taxpayers with low-incomes.
The recent tax hikes were part of a deal struck between the government of Albania and the International Monetary Fund to secure a loan to the country of EUR 330.9 million, in exchange for tax raises and the enactment of several new measures to help fight crime, tax evasion and fraud.
The protesters, led by the oppositi...Read More
November 20, 2014 Taxation in Hungary
BUDAPEST – Hungary will implement a series of new tax hikes on alcohol, shampoo, soap, and large foreign firms.
On November 18th the government of Hungary announced that a series of new taxes and tax hikes will be instated, despite the fact that a significant number taxpayers publically protested the changes during a widespread “public outrage day”.
Among the new tax rate hikes is a 10 percent increase to the top rate of the controversial advertising tax, increasing from 40 percent to 50 percent.
Other controversial measures include the extension of the current “chip tax” on unhealthy products to include alcohol, the extension of environmental fees to include shampoos, soaps and other healthcare products, and a hike to the rate of the so-called “Tesco fee” on foreign-owned locally-oper...Read More
October 10, 2014 Taxation in USA
WASHINGTON D.C. – If the US Senate does not pass the Permanent Internet Freedom Act, Americans will pay nearly USD 15 billion per year just to access internet.
If the currently active ban on taxes for internet access in the USA is allowed to lapse later this year, as is currently scheduled, the total cost of newly arising taxes could be as much as USD 14.7 billion per year, according to information in a new report issued on October 8th by the independent policy institute American Action Forum.
Currently the Internet Tax Freedom Act prohibits the implementation of internet access taxes by local and state governments in the USA, however, the Act is set to expire in December this year.
The Act may be replaced by the Permanent Internet Freedom Act, which has won approval in the House of Repr...Read More
August 8, 2014 Taxation in Finland
HELSINKI – Finland is looking to hike excise duties, raise the taxes faced by high income earners, and lowering taxes for low income earners, while boosting government revenues.
On August 7th the Finance Minister of Finland Antti Rinne released the first draft of the proposed national budget for 2015, outlining several tax measures intended to raise tax revenues by approximately a billion euros.
The Finance Minister announced that in 2015 the excise duties on electricity, tobacco, confectionery, and fuel will be raised, a move which is expected to bring in an extra EUR 370 million of tax revenues.
Rate hikes will also be enacted on landfill tax and road duty, in order to raise tax collections by an extra EUR 185 million.
Moves will also be made to widen the national tax base, including li...Read More
LONDON – The financial burden of Scotland’s independence will be borne by the country’s taxpayers, as they will face steep and permanent tax hikes within four years of the country leaving the UK.
In a letter dated November 26th the Chief Secretary to the Treasury Danny Alexander warned the First Minister of Scotland Alex Salmond that, according to the results of calculations completed by the Treasury, Scottish taxpayers would face a tax hike of approximately GBP 1 000 per person per year if Scotland obtains independence from the UK.
Scotland is scheduled to conduct a nationwide referendum on the question of national independence on September 18th, and if a clear approval is shown, the country could leave the UK within two years.
The Treasury’s warning comes the day before the government o...Read More