by Ulrika Lomas, Tax-News.com, Brussels 04 August 2017 The European Commission has proposed that the EU Council should extend the current derogation for Lithuania that allows the country to set its value-added tax registration threshold at EUR45,000 (USD53,300). A proposal
IMF Urges Italy To Cut Labor Tax Rates
by Ulrika Lomas, Tax-News.com, Brussels 04 August 2017 Italy should lower its income taxes and shift revenue collection towards property and consumption taxes, the International Monetary Fund (IMF) has said. Repeating its calls for an indirect tax shift, in its
New Zealand To Proceed With BEPS Tax Changes
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Irish Tax Revenues Still Short Of Target
by Jason Gorringe, Tax-news.com, London 04 August 2017 Irish tax revenues continue to fall short of government expectations, with revenues for the first seven months of the year coming in 0.8 percent below target. According to the latest figures, tax
Australia Hails Bumper Year For Exports
by Mary Swire, Tax-news.com, Hong Kong 04 August 2017 Australian Trade Minister Steven Ciobo has said that the country’s trade surplus in 2016-17 reflects the Government’s commitment to free trade. Data released by the Australian Bureau of Statistics shows that
IMF Warns Japan On Planned Sales Tax Hike
by Mary Swire, Tax-News.com, Hong Kong 04 August 2017 Japan intends to proceed with a proposed increased by its sales tax in 2019, despite warnings from the International Monetary Fund that the economy could severely contract. In its latest consultations
Jump In US Expats Renouncing Citizenship
by Mike Godfrey, Tax-News.com, Washington 04 August 2017 According to Treasury Department statistics, the number of taxpayers renouncing their US citizenship in the second quarter of 2017 hit 1,759 – the second highest on record. The numbers of taxpayers renouncing
Irish PM Calms Fears Over New Property CGT
by Jason Gorringe, Tax-news.com, London 04 August 2017 Irish Prime Minister Leo Varadkar has said the Government has no intention of imposing capital gains tax on the sale of family homes. Under the current rules, an individual’s principal residence is
Lowtax.net News: IoM Proposes Insurance Regulation Changes
The Isle of Man Financial Services Authority, which supervises the island’s financial services, insurance, and pensions sectors, is consulting on enhancements to the regulatory framework for general insurance intermediaries.
Lowtax.net News: Guernsey Sees Jump In Company Migrations
Guernsey saw a jump in the number of companies, funds, and other structures being established in the territory in the first half of 2017.