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Tax Rates Around the World 2014
(Note: Only the underlined countries are currently ready)
(Last partial update July 1, 2014)
1. In countries in which VAT is charged at a number of different rates, the rate in the table is the highest rate.
2. The rates in the Table do not include Local tax, if it exists.
3. Social security rates are the highest rates. Unlike income tax social security contributions are generally imposed on income up to a ceiling.
Tax and Business News 2014
Tax Updates Archive
- Georgia EU Free Trade Agreement
Georgia signed on June 27, 2014 a free trade and political cooperation agreement with the EU. July 2014.
- Finland Construction Works Reports
Starting July 1, 2014 companies and self employed that commission construction works must collect worksite specific information on their construction contracts. July 2014.
- China Switzerland TFA
The free trade agreement, FTA, which was signed between the two countries on July 7, 2013 will enter into force on July 1, 2013. June 2014.
- Albania EU Accession
Starting June 24,2014 Albania is an official candidate to join the EU with its existing members. June 2014.
- Ukraine EU FTA
Ukraine's president signed on June 27, 2014 a historical free trade agreement with the EU shifting from the previous ties with Russia. June 2014.
- Estonia Average Salary
According to a release by Statistics Estonia dated 12.6.2014 the average monthly salary in 2013 was EUR 900 higher than the 2012 average. June 2014.
- Eurozone Interest Cut
The European Central Bank, ECB, cut on June 5, 2014 the eurozone refinancing rate from 0.25% to 0.15% and the deposit rate from 0% to -0.1%. June 2014.
- Brazil bitcoins Taxation
According to the latest Brazilian tax office guidelines bitcoins are treated as financial assets subject to 15% capital gain tax. May 2014.
- Japan Consumer Tax
Starting April 1, 2014 the consumer tax in Japan is increased to 8% compared to the previous 5% rate. The rate will increase to 10% in October 2015. May 2014.
- Singapore Barbados Tax Treaty
The 2013 double tax treaty between the two countries entered into force on April 25, 2014 after being ratified by both countries. May 2014.
- Israel Intel's Investment
Intel Corp reported on April 30, 2014 its plan to invest additional $ 6 billion in enlarging the existing plant in southern Israel. May 2014.
- Russia Credit Rating Downgrade
The credit rating agency Standard & Poor's downgraded on April 25, 2014 Russia's credit rating from previous BBB to BBB-. May 2014.
- Ukraine Tax Update
Starting April 1, 2014 the standard V.A.T. rate in Ukraine is 20%. There is a reduced 7% rate relating to medical supplies. April 2014.
- Jamaica Business Tax
Starting April 1, 2014 a new business tax is imposed on certain companies and individuals in Jamaica. The tax is paid twice a year. April 2014.
- U.S Unemployment Rate
The labor department reported on April 4, 2014 that the U.S. economy added 192,000 jobs in March. The unemployment rate remained unchanged at 6.7%. April 2014.
History of Taxation
Tax has an extremely long-established history. The ancient Egyptians appointed Tax Masters who increased the burden on the Children of Israel - slaves under Egyptian domination. As a general rule, tax is the source that is best exploited by government. It is imposed on individuals and companies to finance services that the State is obligated to provide and to meet its goals....More info
The following pages attempt to give a brief summary of the principles of double entry bookkeeping. After reading the material you will find that the "bogey" is not that bad.
The Development of Bookkeeping.
In each area of life, techniques are developed and inventions made to answer the problems that arise therein. Thus, for example, the invention of the "airplane" provided an answer to the problem of reducing travel time between distant cities. The discovery of "canned foods" on the other hand gave an answer to the need to keep food fresh for long periods. This is similar to what happened with bookkeeping, in that it answered the severe problems that arose in managing modern commerce. More info...