After a series of last-minute changes, the Belgian 2012 budget has been approved with changes being made to provisions for short term capital gains, stock options, thin capitalisation restrictions and the introduction of a new general anti-avoidance rule.
A UK think-tank has urged the coalition government to halve the corporate tax rate, arguing it is the “only source of a viable economic recovery”, but the report overlooks other vital areas of the tax code such as reform of the controlled foreign company (CFC) regime.
India’s decision to increase its cooperation with the OECD should trigger alarms for taxpayers as their Indian operations are likely to be put under more scrutiny from the country’s tax officials.
A new report from the Canadian Labour Congress (CLC) has called into question the effectiveness of Canada’s corporate tax cuts. The three-step reduction in the country’s corporate tax rate, implemented with the objective of incentivising job creation, is not having the desired effects, says the report.
The British emergency services telephone number is 999. In times of trouble, this is the number that is relied on for help and, interestingly enough, this same number was the initial spark that propagated the focus on a particularly troublesome issue in the US – corporate tax reform.
Indirect tax collections – comprising customs, central excise and service tax – rose to Rs 2,85,787 crore ($58 billion) during April to December. It is a significant boost to the government ahead of its plans to introduce GST.
