The Chinese government may introduce a tax on carbon dioxide emissions that will reward taxpayers who invest in projects that enhance environmental protection. However the timing of the implementation of the tax may depend on balancing the interests of the tax and environment authorities.
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Despite the relief, Brazil’s government has also presented a bill which seeks to re-impose a tax burden on companies’ payroll, one local tax specialist told ITR
While successful pillar two implementation will require collaboration across all units, a combination of internal and external tax advice is at the centre of the effort