Indirect Tax

Archive: Indirect Tax

This content is from: European Union

European Commission to assist 10 member states adopt FTT

EU finance ministers last week failed to unanimously agree on adopting a financial transactions tax (FTT), but 10 member states are set to push ahead with the support of the European Commission.
By Salman Shaheen
June 28 2012
This content is from: Japan

Japan’s set to double VAT, 10% rate in 2015

Japan’s lower house has voted to double VAT, but rates are likely to continue to rise.
By Salman Shaheen
June 28 2012
This content is from: European Union

Shift to destination principle may be only way to end LVCR abuse

Micole Wiemer, head of the indirect tax unit at the European Commission, has admitted that low-value consignment relief (LVCR) abuse can only be tackled through wider EU VAT reform.
By Salman Shaheen
June 28 2012
This content is from: India

India’s GST on course for further delays as Mukherjee leaves office

India may once again delay implementation of GST, but the effect of finance minister Pranab Mukherjee’s departure has yet to be seen.
By Salman Shaheen
June 26 2012
This content is from: Australia

Gillard should have learnt from Rudd’s mistakes on Australian mining tax

COMMENT: Fortescue Metals Group filed a High Court challenge against the Australian government last week in an attempt to have the mineral resource rent tax (MRRT) declared invalid, but if Prime Minister Julia Gillard...
By Joe Dalton
June 24 2012
This content is from: Direct Tax

What you have missed on ITR Premium

How Scottish Power’s US Tax Court victory could hamper the IRS, why Spain is increasing its VAT rate, and insight into why the G20 is not too excited about IFRS were just three articles that appeared on ITR Premium la...
June 24 2012
This content is from: India

India’s DTC and GST in doubt as Mukherjee to leave office

The future of India’s Direct Taxes Code and goods and service tax looks uncertain as the country’s finance minister is set to leave office.
By Jack Grocott
June 24 2012
This content is from: European Union

UK could challenge EU’s attack on energy efficiency VAT incentives

The European Commission has begun infringement proceedings against the UK for the reduced rate it applies on energy saving and heating products, but the UK might have a sound argument to challenge.
By Salman Shaheen
June 21 2012
This content is from: Spain

Spain set to take IMF’s advice and raise VAT

The IMF has recommended that Spain should raise its VAT rates, making an increase next year even more likely.
By Salman Shaheen
June 20 2012
This content is from: United States

US Senate assesses impact of tax reform on energy policy

In the latest Senate Finance Committee hearing into US tax reform, the impact of reform on energy policy was assessed, with committee chairman Max Baucus saying it provides the energy sector with an opportunity to mak...
By Matthew Gilleard
June 18 2012
This content is from: Hungary

Bunge warns of Hungarian VAT attack on multinationals

Multinational agricultural company Bunge estimates up to €1 billion ($1.26 billion) a year is being lost in Hungary because of VAT fraud on food products, and the reaction of the tax authorities could give compliant c...
By Joe Dalton
June 17 2012
This content is from: European Union

Finland wants FTT, says foreign minister Erkki Tuomioja

Erkki Tuomioja, Finland's Minister for Foreign Affairs, has said the government wants to introduce a financial transaction tax (FTT), but not unilaterally.
By Salman Shaheen
June 14 2012
This content is from: United Kingdom

CBI urges UK government to scrap carbon reduction commitment

Business lobbying organisation the Confederation of British Industry (CBI) is calling on the UK government to scrap the carbon reduction commitment (CRC), claiming it is stifling investment and does not incentivise co...
By Joe Dalton
June 14 2012
This content is from: Czech Republic

Czech government set to raise VAT

The Czech Republic is raising the rate of VAT once again, to keep the nation’s budget deficit in check.
By Matthew Gilleard
June 14 2012
This content is from: Malaysia

Malaysia GST imminent, confirms finance ministry

The introduction of a GST in Malaysia is said to be imminent, says the finance ministry despite it being on the table since the 2005 budget speech.
By Sophie Ashley
June 14 2012
This content is from: Direct Tax

What you have missed on ITR Premium

Analysis of the ECJ EDF state aid tax benefit ruling, the OECD’s efforts to improve VAT policy in Africa, and Sweden’s decision to cut its corporate tax rate were just three articles that dominated ITR Premium last week.
By ITR Correspondent
June 10 2012
This content is from:

Colombia’s carbon tax to be first in Latin America

Colombia may become the first Latin American country to introduce a carbon tax in its forthcoming Tax Bill.
By Salman Shaheen
June 10 2012
This content is from: Canada

What you need to know about Canada’s indirect tax changes

Canadian taxpayers will face a number of indirect tax changes in 2013 which will require an overhaul of their systems and processes, but planning ahead will smooth the transition and could help them make tax savings.
By Joe Dalton
June 07 2012
This content is from: India

India will “handsomely exceed” indirect tax revenue target, says Mukherjee

The Indian government is confident that the indirect tax collection target of $90 billion in 2012-13 will be met, says finance minister Pranab Mukherjee.
By Matthew Gilleard
June 07 2012
This content is from: Germany

Why you should settle German VAT disputes early

Deutsche Post’s €516 million ($642 million) payment to the German tax authorities shows why it is important to settle disputes early – because the interest stacks up.
By Salman Shaheen
June 07 2012
This content is from: Indirect Tax

OECD's Battiau and ATAF swap notes on African VAT

Piet Battiau, head of consumption taxes at the OECD, met with senior officials from the African Tax Administration Forum (ATAF) last week to discuss the challenges they are facing in formulating VAT/GST policy.
By Salman Shaheen
June 06 2012
This content is from: European Union

Libor scandal underlines need for FTT, says Barroso

European Commission President Jose Manuel Barroso said that the Libor scandal over interest rate derivatives has strengthened the case for a financial transactions tax (FTT).
By Salman Shaheen
June 05 2012

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