Here you can find some of our previous tax updates.
Tax Updates 2012
Austria Bosnia and Herzegovina DTA
The double tax treaty between the two countries which was signed on December 16 2010 entered into force on January 1 2011. February 2012.
Luxembourg Online VAT Filing
Starting January 1, 2013 all Luxembourg VAT payers will have to file their VAT returns online. January 2012.
Croatia Inflation Rates
The consumer price index in December 2011 decreased by 0.4% compared to November 2011 but increased by 2.1% compared to December 2010. January 2012.
Spain Personal Tax Rates 2012
Starting January 1, 2012 there is an additional 0.75%- 7% tax resulting in a new top marginal 52% tax rate for income exceeding EUR 300,000. January 2012.
South Africa Annual Inflation
According to Statistics South Africa the annual inflation in December 2011 was 6.1%. The prices increased by 0.2% in December 2011 compared to November. January 2012.
Finland Tax Rates 2012
The personal income tax rates vary from 6.5% up to 29.75% for income exceeding EUR 70,300. The municipal tax rates vary from 16.25% to 21.75%. January 2012.
European Rescue Fund Downgrade
S&P downgraded on January 16 the credit rating of Europe's rescue fund ,EFSF, by one notch from previous AAA to AA+ .January 2012.
Israel Azerbaijan Customs Agreement
Israel and Azerbaijan signed an agreement on customs mutual assistance between the two countries. January 2012.
Saudi Arabia Malta Double Tax Treaty
Saudi Arabia and Malta signed on January 4 a treaty for prevention of double taxation between the countries. January 2012.
Azerbaijan Oil Export 2011
Azerbaijan's oil export for the eleven months ending November 2011 totaled 34.99 million tons. January 2012.
India Opens Stock Markets to Foreigners
India opens its stock markets to foreign individuals who would be able to directly buy and sell starting January 15. January 2012.
Tbilisi Quality of Living Low Ranking
According to the 2011 quality of living Survey by Mercer Tbilisi has a very low ranking, 214, out of 221 cities surveyed. January 2012.
Tax Updates 2011
Mexico Hungary Double Tax Treaty
The double tax treaty, DTA, between the two countries will enter into force on December 31, 2011 and apply from January 1, 2012. December 2011.
Uzbekistan Czech Republic Double Tax Treaty
Uzbekistan and the Czech Republic signed on December 8 a new protocol to the existing 2000 tax treaty between the two countries. December 2011.
Luxembourg Russia New DTA
Luxembourg and Russia signed on November 21 a new protocol amending the existing 1993 double tax treaty. December 2011.
Hungary Tax Updates 2012
Starting January 1, 2012the standard VAT rate in Hungary would increase from 25% to 27%.Some income tax changes would apply too. December 2011.
UAE to Establish a Mortgage Entity
The UAE ministry of finance is checking the option of establishing a new entity for registration of mortgages of small and medium firms having assets which may use as a guaranty. December 2011.
UK HMRC Reminder For Online Filing
HMRC is reminding taxpayers filing their tax returns online for the first time to get registered in good time before the filing deadline of January 31, 2012. December 2011.
Australia's Credit Rating Downgrade
Standard & Poor's downgraded on December 2 Australia's credit rating by one notch, from AA to AA- .December 2011.
China's Bank Reserve Ratio Cut
The Chinese central bank cut from December 5 the reserve ratio for Chinese banks by 0.5%, the first cut since 2008. December 2011.
Belgium's Credit Rating Downgrade
Standard & Poor's downgraded on November 25 Belgium's long term sovereign credit rating from AA+ to AA. November 2011.
France New 5% Corporate Surcharge
The French prime minister proposed to impose 5% surcharge on companies with turnover exceeding EUR 250 million. November 2011.
Thai Reduced Corporate Tax Approved
The Thai cabinet approved reduction of the corporate tax rate from 30% to 23% in 2012 and 23% from January 1, 2013 onwards. November 2011.
ECB Cut Interest Rate
The European Central Bank, ECB, cut on November 3 its interest rate by 0.25%, from 1.5% to 1.25%. November 2011.
Israel's New 25% Corporate Tax
The Israel government approved on October 30 some significant tax changes including, inter alia, increase of the corporate income tax rate to 25%. November 2011.
Netherlands Switzerland DTA entry Into Force
The double tax treaty, DTA , between the two countries signed on February 26, 2010 will enter into force on November 9, 2011 and apply from January 1, 2012. November 2011.
Vietnam Foreign Currency Fines
The Vietnamese government increased dramatically fines on businesses quoting prices in foreign currency instead of the local currency, Vietnam dong. November 2011.
Barbados Spain Double Tax Treaty
The double tax treaty, DTA, signed on December 1, 2010 entered into force and applies from October 14, 2011. October 2011.
UAE's VAT Introduction Postponed
The UAE government expects that introducing a VAT system in the UAE will take about three years. October 2011.
Mexico Extends Export Tax Breaks
Mexico extends certain tax breaks granted to export manufacturing plants till December 31, 2013. October 2011.
Mexico's Industrial Output Drop
The Mexican industrial output dropped sharply by 1.1% in August compared to July, the biggest drop in the last two years. October 2011.
Italy's Credit Rating Downgrade
Fitch downgraded on October 7 Italy's credit rating from AA- to A+ with a negative outlook. October 2011.
Spain's Credit Rating Downgrade
Fitch downgraded on October 7 Spain's long term sovereign debt rating by two notches with a negative outlook. October 2011.
Portugal's New 3.5% Surtax
There is a new 3.5% surtax for individuals having an annual income exceeding EUR 6,790. October 2011.
France's New 2% Hotel Tax
Starting November 1 a new 2% tax will be imposed on hotel services exceeding EUR 200 per night. October 2011.
U.S. September Job Rise
The U.S. economy added 103,000 new jobs in September, compared to the preliminary forecast of 55,000 jobs. October 2011.
Denmark's New Fat Tax
Denmark has introduced a new fat tax. The tax is imposed on food containing more than 2.3% saturated fat. October 2011.
India Estonia Double Tax Agreement
The Dutch economy grew by 0.1% in the second quarter of 2011 compared to the first quarter of 2011. August 2011.
France Banned Shares Short-Selling
France banned for 15 days short-selling of certain shares from the banking and insurance sector. August 2011.
Russian Banks' Earnings Up
The Russian banks' earnings for January-July increased by 60% compared to the same period in the previous year. August 2011.
Cyprus Credit Rating Downgrade
Fithch downgraded on August 10 Cyprus's long term currency rating to BBB with a negative outlook. August 2011.
Switzerland Spain New DTA
Switzerland and Spain signed a new protocol amending the existing double tax treaty between the two countries. August 2011.
Malta Israel New DTA
Malta and Israel signed on July 29 a new double tax treaty between the two countries .Malta's exports to Israel in 2010 improved by 58% compared to the previous year. August 2011.
Russia's New Transfer Pricing Law
Russia's new transfer pricing law has been signed by the president. The new law includes major changes. August 2011.
U.S. Credit Rating Downgrade
Standard & Poor's downgraded on August 6 the U.S. credit rating from AAA to AA+ for the first time. August 2011.
Georgia Switzerland DTA Entry into Force
The double tax treaty between the two countries entered into force and will apply to tax withheld on or after January 1, 2012. August 2011.
Colombia Switzerland DTA Entry into Force
The DTA which was signed in 2007 has been approved by both countries and will be applicable from January 1, 2012. July 2011.
South Africa Jersey New TIEA
South Africa and Jersey signed on July 12 a new TIEA, Tax Information Exchange Agreement. July 2011.
Australia Inflation up 0.9%
The Australian consumer price index rose 0.9% in the 2nd quarter of 2011, compared with a rise of 1.6% in the 1st quarter. July 2011.
Canada's New Provincial Tax Rates
Starting July 1 there are certain changes in the lower rate or upper rate of the provincial tax rates for Canadian corporations. July 2011.
Ireland's Credit Rating Downgrade
Moody's downgraded Ireland's bond credit rating from Baa3 to Ba1 With a negative outlook. July 2011.
UAE Kenya DTA
The UAE and Kenya signed on July 5 a double tax treaty, DTA, to avoid double taxation on income. July 2011.
Guernsey Mexico New TIEA
Guernsey and Mexico signed a TIEA, tax information exchange agreement. The new TIEA brings the total TIEAs signed by Guernsey to 24. July 2011.
U.S. Unemployment Rise to 9.2%
The American unemployment rate rose to 9.2% in June compared to 9.1% in May, a net increase of 18,000 jobs. July 2011.
France Panama Double Tax Treaty
France and Panama signed on 29.6.2011 a new double tax treaty. For Panama the DTA is its 12th treaty within 16 months. July 2011.
Norway Turkey DTA Entry into Force
The double tax treaty, DTA, between Norway and Turkey entered into force on July 15. The DTA will apply from January 1, 2012. June 2011.
China's Bank Reserve Ratio Rise
The Chinese central bank raised the banks' reserve ratio by 0.5% to 21.5% effective June 20 . The rise is the sixth rise since the beginning of this year .June 2011.
U.K. Ethiopia DTA
The U.K. and Ethiopia signed on June 9 a new double tax treaty. The treaty generally follows the OECD model on exchange of information . June 2011.
Ireland Reduced 9% V.A.T. Rate
Ireland is going to introduce a new reduced 9% V.A.T. rate for certain services. The new rate will be introduced from 1.7.2011 to 31.12.2013. June 2011.
Czech Republic Hong Kong DTA
The Czech Republic and Hong Kong signed on June 6 a new double tax treaty. The DTA will come into force after ratifications by both countries. June 2011.
Singapore's Millionaire Households
According to the Boston Consulting Group Singapore has the world highest percentage of millionaire households, 15.5%, compared to Switzerland having 9.9%. June 2011.
Canada Turkey DTA Entry Into Force
The 2009 double tax treaty signed between Canada and Turkey entered into force on May 4, 2011. May 2011.
Ukraine 23% Corporate Tax Rate
Starting April 1 the new corporate income tax rate in Ukraine is 23% , compared to the previous 25% rate. May 2011.
OECD Global Economic Forecast
According to the OECDs release on May 25 the world GDP is projected to increase by 4.2% in 2011 and by 4.6% in2012. May 2011.
Jersey GST Increase
Starting June 1st the GST in Jersey would increase from the current 3% rate to 5%. May 2011.
U.K. April Inflation Rate
According to the British office for national statistics the annual CPI for April was 4.5% up from 4% in March, the highest hike since October 2008. May 2011.
Canada Revenue Agency Tax Tips
The Canada Revenue Agency, CRA, released tax tips relating to taxpayers unable to make a full tax payment. May 2011.
Japan's Downgrade by S&P
Standard& Poor's downgraded on April 27 Japan's sovereign rating from stable to negative. April 2011.
Ireland Singapore DTA
The double tax treaty between the two countries entered into force on April 8 with retroactive effect from January 1. April 2011.
Singapore Spain Double Tax Agreement
The two countries signed on April 13 a double tax agreement. The DTA will enter into force after ratification by both countries. April 2011.
Hong Kong Spain Double Tax Treaty
Foreign enterprises which are taxpayers of indirect taxes in China must pay these two additional surcharges. April 2011.
Italy's Economic Indicators
The Italian statistics office, Istat, released data about the producer price index which increased in February 2011 by 0.5% compared to January 2011 and by 5.3% compared to February 2010. April 2011.
Italy's 10% Financial Sector Tax
The Italian tax office issued a circular clarifying issues relating to the 10% extra tax in the financial sector. April 2011.
Israel's Economic Forecast 2011
The bank of Israel's forecast for 2011shows a 4.5% GDP growth The unemployment rate forecast for 2011 is 6.1%. March 2011.
Turkey's Tax Amnesty
Turkish taxpayers can enjoy a tax amnesty for the years 2006-2009 without being exposed to further tax audit. March 2011.
Dutch Interest for Delayed VAT Refunds
Many Dutch companies are going to get interest from the tax office due to delayed filing of VAT refund from other EU countries. March 2011.
Israel's Corporate Tax Rate
Starting January 1, 2011 the new corporate tax rate in Israel is 24% compared to 25% in 2010. March 2011.
Romania's GDP 2010
According to the Romanian Institute of Statistics, INS, the GDP in 2010 decreased in real terms by 1.3% compared to 2009. March 2011.
Peru's New 18% V.A.T. Rate
Starting 1.3.2011the new V.A.T. rate in Peru is 18%, reduced from the previous 19% rate. March 2011.
Europe Annual Inflation
According to Eurostat the annual inflation of the Euro zone was 2.3% in January 2011. February 2011.
Poland's Labor Market
The Polish unemployment rate was 13% in January 2011 compared to 12.3% in December 2010. February 2011.
BP's Oil and Gas Indian Partnership
BP and Reliance Industries signed a historic partnership relating to 23 oil and gas blocks in India. February 2011.
Finland's Salary Indices
Finland's salaries in the fourth quarter of 2010 increased by 4% compared to the same period in 2009. February 2011.
Bulgaria's Average Salary
The average Bulgarian monthly salary in the 4th quarter of 2010 was 669 Levs, an increase of 4.9% compared to the 3rd quarter of 2010. February 2011.
Iceland New Corporate Tax Rate
Iceland raised the corporate income tax rate from the previous 18% to 20%. February 2011.
Switzerland's New V.A.T. Rates
The Swiss new standard V.A.T. rate is 8% compared to the previous 7.6% rate. The new reduced rate is 2.5%. The super reduced V.A.T. rate is 3.8%.
Poland's New V.A.T. Rate
The Polish standard V.A.T. rate for 2011 is 23%, compared to 22% in 2010. The reduced V.A.T. rates are 8% and 5%. February 2011.
Cyprus Huge Gas Reserves Potential
According to a Cypriot newspaper Cyprus has a potential of huge gas fields in the seabed between Cyprus and Greece. February 2011.
Serbia Raised Interest Rate to 12%
The Serbian central bank increased the interest rate by 0.5 per cent to 12%, Europe's highest interest rate. January 2011.
Brazil Warns of Trade War
The Brazilian finance minister warned against currency devaluation by certain countries which may lead to a trade war. January 2011.
Singapore Cools Real Estate Market
Singapore adopted new tax measures aimed to cool the soaring real estate market. In addition flat owners will be allowed to get a maximum 60% loan of their property value. January 2011.
Greece Downgraded by Fitch
Fitch credit rating agency downgraded Greece's sovereign debt to junk, from BBB- to BB+ .January 2011.
Greece's V.A.T. Update
Starting 1.1.2011 Greece's reduced V.A.T. rate increased from 11% to 13%. The super reduced V.A.T rate increased from 5.5% to 6.5%. January 2011.
Canada's 16.5% Corporate Tax Rate
Starting 1.1.2011 the Canadian federal corporate income tax rate is 16.5% compared to the previous 18% rate. January 2011.
Qatar's GDP Growth
Qatar's GDP of the third quarter of 2010 increased by 21.1% compared to the same quarter of 2009. January 2011.
Latvia New 22% V.A.T. Rate
Starting 1.1.2011 Latvia's new standard V.A.T rate is 22% compared to the previous 21% rate. The reduced V.A.T rate also increased from 10% to 12%. January 2011.
Portugal's New 23% V.A.T. Rate
Starting 1.1.2011 the new standard V.A.T. rate in Portugal is 23% compared to the previous 21% rate. The standard V.A.T. rate in Madeira and Azores increased to 16%. January 2011.
U.K. New 20% V.A.T. Rate
Starting 4.1.2011 the new standard V.A.T. rate in the U.K. is 20%, compared to the previous 17.5% rate. January 2011.
Estonia Joined the Euro Zone
Estonia joined the Euro Zone on January 1,2011 as the seventeenth member adopting the Euro currency. January 2011.
Tax Updates 2010
Hungary's Credit Rating Downgraded
Fitch credit rating agency downgraded Hungary's long term foreign currency credit rating by one notch. December 2010.
Japan's Trade Surplus Narrowed
Japan's November export increased by 9.1%. The import increased by 14.2% resulting in a decline of 55.4% in the trade surplus. December 2010.
Israel Residential Real Estate Taxes
Israel tries to fight the soaring real estate prices by imposing higher purchase tax on non-primary residential property. December 2010.
Portugal Downgrade Worry by Moody's
Moody's published a statement expressing worry about a possible downgrade of Portugal's long term rating. December 2010.
Belgium Downgrade Worry
Standard and Poor's is worried that Belgium's credit rating could be downgraded due to the political situation. December 2010.
Japan's Corporate Tax Reduction
The Japanese prime minister ordered a 5% reduction of the corporate tax rate to create an attractive environment for investors. December 2010.
U.S. Trade Deficit Narrows
U.S. exports increased 3.2% in October, the highest level for monthly exports since August 2008. December 2010.
China Inflation Up 5.1%
China's inflation went up by 5.1%in November, well above the official 3% target. December 2010.
U.K. to Increase Beer Tax
The U.K. will impose additional tax on beer having more than 7.5% by volume strength. December 2010.
Barbados V.A.T. Hike
Barbados increased on December 1, 2010 the V.A.T. rate from 15% to 17.5%. December 2010.
Hong Kong New Stamp Duty
Kong government announced on November 19, 2010 a new special stamp duty, SSD, on residential properties to curb speculation. November 2010.
Iberia British Airways Merger Approved
The shareholders of Iberia and British Airways approved on November 29, 2010 a $ 8.9 billion merger between the two airlines creating the world third biggest airline. November 2010.
U.K. Mobile Phones Taping Rules
The British financial services authority published a new policy statement regarding taping of mobile phones provided by certain financial firms to employees. November 2010.
Greece Switzerland Revised DTA
Greece and Switzerland signed on November 4, 2010 a revised double tax Agreement in the area of taxes on income and capital. November 2010.
China Credit Rating Upgraded
Moody's credit rating agency upgraded on November 11, 2010 China's government bond rating from A1 to Aa3 with a positive outlook. November 2010.
New Zealand New 15% GST
The GST, Goods and Services tax in New Zealand increased from 12.5% to 15% starting October 1, 2010. November 2010.
Malta VAT Rise
The VAT rate on accommodation services will rise from 5% to 7% starting January 1, 2011. November 2010.
Ireland Taxpayers Email Scam
The Irish tax authorities warn taxpayers from scam emails granting Irish taxpayers a tax refund. November 2010.
Portugal V.A.T. Rise
Portugal intends to increase the V.A.T. rate from the current 21% rate to 23% effective January 1, 2011. October 2010.
Brazil New 4% Financial Transactions Tax
The Brazilian government increased the financial transaction tax, IOF, from the previous 2% to a new 4% rate effective from 5/10/10. October 2010.
Japan's Cigarettes Tax Hike
Japan imposed on October 1, 2010 a record 40% tax on cigarettes aimed to encourage Japanese to quit smoking. October 2010.
France 2011 Budget
According to the proposed French budget the public deficit will be reduced from the current 7.7% of the GDP down to 6% of the GDP in 2011. September 2010.
Slovakia V.A.T Rise
The Slovak V.A.T. rate would increase from the current 19% to 20% effective 1.1.2011. September 2010.
Ireland GDP Decline 1.2%
The Irish GDP for the second quarter declined by 1.2%. The GNP for the same period declined by 0.3%. September 2010.
Global Competitiveness Report
According to the Global Competitiveness Report released by the World Economic Forum Switzerland tops the overall ranking. September 2010.
Hong Kong's 1,500,000th company
According to a press release by the Hong Kong companies registry the 1,500,000th company was registered. September 2010.
Netherlands Japan New DTA
The Netherlands and Japan signed a new double tax treaty. The treaty provides reduction or exemption of withholding tax. September 2010.
Finland Increased VAT Rate
The Finnish standard and reduced VAT rates increased by one percent effective from 1.7.2010. August 2010.
Greece Second VAT Increase
The Greek standard and reduced VAT rates were increased from 1.7.2010 following a previous increase on March 15, 2010. August 2010.
Poland to Increase V.A.T. Rate
The Polish government plans to increase the standard V.A.T. rate from 22% to 23% effective from 1.1.2011. August 2010.
IRS Tax Tips
The U.S. IRS has published a set of important tax tips For U.S. taxpayers. August 2010.
Hungary 10% Corporate Tax Rate
The Hungarian corporate tax rate was reduced from 19% to 10% for income below HUF 250 million. July 2010.
Tunisia Saudi Arabia DTA
Tunisia and Saudi Arabia signed on July 8, 2010 a double tax treaty boosting trade relations between the two countries. July 2010.
Ireland's Credit Rating Downgraded
Moody's credit rating agency downgraded the Irish credit rating by one step, from Aa1 to Aa2. July 2010.
Bulgaria Tax Evaders
About 60%-80% of the retailers and shop owners in Bulgaria evade reporting their real turnover.July 2010.
Estonia Euro Adoption
Estonia will adopt the Euro as its officaial currency starting 1.1.2011.The exchange rate will be 15.6466 Estonian Kroon to one Euro. July 2010.
Hong Kong Ireland DTA
Hong Kong and Ireland signed on June 22, 2010 a double tax treaty. The treaty follows another DTA signed with the U.K. a day before. June 2010.
Tajikistan Switzerland DTA
Tajikistan and Switzerland signed on June 23, 2010 a new double tax treaty, DTA, entering into force after ratification by both countries. June 2010.
UAE Venezuela Double Tax Treaty
The UAE and Venezuela signed on June 7, 2010 a new double tax treaty. The treaty is the first DTA signed by the UAE with a Latin American country. June 2010.
Taiwan Cuts Corporate Tax Rate
The Taiwan corporate income tax rate was cut to 17% compared to the previous 20% rate with retroactive effect from 1.1.2010. June 2010.
Japan Switzerland Revised DTA
Japan and Switzerland signed on May 21, 2010 a new protocol amending the existing DTA, double tax agreement, between the two countries. May 2010.
New Zealand Budget
The second budget includes reductions of the corporate and personal income tax rates. on the other hand the GST rate will increase from 12.5% to 15%. May 2010.
Romania Austerity Plan
Romania plans to cut publc sector wages by 25% and unemployment and pension benefits by 15% in order to reduce the public deficit. May 2010.
Singapore Saudi Arabia DTA
Singapore and Saudi Arabia signed on 3/5/2010 a new double tax treaty, DTA, between the two countries. May 2010.
Nigeria to Increase VAT Rate
Nigeria is expected to pass a bill soon doubling the VAT rate from the current 5% to 10%. May 2010.
Poland Switzerland New Protocol to DTA
Poland and Switzerland signed a new protocol amending the existing double tax agreement, DTA, between the two countries. May 2010.
German GDP up 0.2%
The German GDP rose by 0.2% in the fourth quarter of 2010 compared to the same period in 2009. May 2010.
Spain's GDP Decreased by 1.3%
The Spanish GDP decreased by 1.3% in the first quarter of 2010, as compared to the same period in 2009. May 2010
China's Real Estate Prices up 12.8%
China's real estate prices in the biggest 70 cities increased by 12.8% in April and 11.7% in March. May 2010.
EU Rescue Package
The EU will contribute EUR 500bn while additional EUR 250bn will be contributed by the IMF in a rescue package to help Greece's economy and the Euro currency. May 2010.
Israel to Join the OECD
Israel, together with Estonia and Slovenia were invited to join the OECD which will now count 34 member states, 2010 .May 2010.
Portugal's Personal Income Tax Rates
The Portugese parilment approved the tax rates for 2010.The tax rates are the same as in 2009, with slight changes in the brackets. May 2010.
Serbia Personal Tax Update
Capital gains tax decreased from 20% to 10% effective from 27/3/2010. May 2010.
Greece to Increase Taxes
Greece will increase V.A.T rate from 21% to 23% and impose10% excise taxes on alcohol, tobacco and fuel. May 2010.
Spain's Credit Ranking Downgraded
The credit rating agency Standard & Poor's downgraded on April 28, 2010 Spain's credit rating one step, from the previous AA+ to AA April 2010.
U.K. GDP up 0.4%
The GDP for the fourth quarter of 2009 increased in 0.4%, compared to the previous 0.3% estimate. March 2010.
Hungary 2010 Tax Rates
The new Hungarian corporate tax rate is 19%, compared to the previous 16% rate. The new personal income tax rates are 17% and 32%. March 2010.
Hong Kong 3 New DTAs
Hong Kong signed three new double taxation agreements with Brunei, the Netherlands and Indonesia. March 2010.
Singapore's New DTA Protocols
Two protocols to the standing DTAs with Norway and the Netherlands will enter into force soon. Mach 2010.
Ukraine Film Production Bebefits
V.A.T. exemption is granted to film producers in Ukraine for six years ending on 1.1.2016. February 2010.
U.S. Chile Income Tax Treaty
The U.S. and Chile signed the first income tax treaty between both countries. February 2010.
Russia New Insurance Contributions Law
From 1.1.2010 the UST , Unified Social Tax, is replaced by new insurance payments to four separate funds. February 2010.
U.S. Hungary New DTA
The U.S. and Hungary signed on 4.2.2010 a new double taxation treaty replacing the previous DTA. February 2010.
Spain New V.A.T Rate
According to the Budget Law the standard V.A.T rate of 16% would be raised to 18% from 1.7.2010. February 2010.
Belgium V.A.T on Sale of Land
Starting 1.1.2011 V.A.T is due on sale of land combined to sale of a new building. February 2010.
Israel Three New DTAs
On 1.1.2010 three new double taxation agreements entered into force. The agreements are with Vietnam, Estonia and Taiwan .February 2010.
Czech Republc Cyprus New DTA
The new double taxation treaty which was signed on 28/4/2009 entered into force on 1/1/2010. January 2010
Malaysia Real Propery Gains Tax
From 1.1.2010 gains from sale of real estate held for less than five years is subject to 5% real property gains tax. January 2010
Israel Tax Rates 2010
From 1.1.2010 there are new reduced income tax and V.A.T. rates in Israel. January 2010.
U.K. 17.5% V.A.T Rate
From 1.1.2010 the standard V.A.T. rate in the U.K. is 17.5%, compared to the previous 15% rate. January 2010.
U.K. Voluntary offshore Disclosure
The HMRC announced extended deadlines for voluntary disclosure on offshore accounts and assets. December 2009.
Spain 43% Tax Rate on Footballers
The Spanish government plans to raise the tax rate for foreign footballers from the current 24% rate to 43%. November 2009.
Qatar Reduced Corporate Tax Rate
Qatar plans to cut the corporate tax rate in 2010 to 10%, compared to the current 35%. November 2009.
Moldova Tax on Reinvested Profits
The Moldovan government plans to impose a 10% tax on reinvested profits and increase excise duties by 20%. November 2009.
Isle Of Man Malta DTA
The Isle Of Man signed a new double taxation treaty with Malta,in line with the OECD standards on exchange of informatrion. October 2009.
Bermuda France TIEA
Bermuda signed with France its 16th bilateral TIEA, Tax Information Exchange Agreement. October 2009.
Croatia Tax Updates
From 1.8.2009 the new standard V.A.T. rate in Croatia is 23%. There is also a new crisis tax for individuals at rates of 2% or 4%. October 2009.
Mexico Singapore Double Tax Treaty
Mexico and Singapore signed a new protocol including exchange of information agreement according to international standards .October 2009.
Italy Tax Amnesty
The Italian parliment approved amnesty for tax evaders, who will pay a final 5% tax rate for illegal funds abroad, mainly in Switzerland and Luxembourg. October 2009.
Malaysia U.K. Double Taxation Treaty
Malaysia and the U.K. signed a new protocol updating the existing DTA between the two countries. September 2009.
Mexico 2010 Tax Reform
The corporate income tax rate and the top marginal tax rate for individuals would rise to 30% in the years 2010-2012. September 2009.
Israel Online Tax Returns Filing
From 20/10/2009 individuals filing their tax return for 2008 and for future years must submit it online only. September 2009.
Switzerland U.K. Revised DTA
Switzerland and the U.K. signed a new protocol amending the existing double taxation treaty between the two countries. September 2009.
Malta Tax Amnesty
Defaulters in Malta can now enjoy a 90% tax reduction on interest and fines for taxes due from 1998 onwards. September 2009.
Norway Switzerland Revised DTA
Norway and Switzerland signed a protocol amending the double taxation agreement between the two countries. September 2009.
Cooperative in the Netherlands
Features of the Netherlands cooperative company. benefits and legal features .By Balthazar Tax Consultants. August 2009.
Netherlands Holding BV
Learn how to benefit from the Netherlands Holding BV.By Balthazar Tax Consultants. August 2009.
Israel Social Security Ceilng Doubled
The monthly ceilng for social security payments was doubled from the previous IS 38,415 to IS 76,830. August 2009.
Hungary Tax Update
Increased higher V.A.T rate of 25%, a new reduced V.A.T. rate of 18%, reduction of social security contribution from 29% to 26%. July 2009.
Estonia Increased V.A.T. Rate
From 1.7.2009 the standard V.A.T. rate in Esonia is 20%, compared to the previous 18% rate. July 2009.
Belgium Australia new Tax Treaty
Belgium and Australia signed a new protocol allowing full exchange of tax information between the two countries. July 2009.
Turkey Taxes
An article about Turkey taxes by "Independent Accountants" firm. July 2009.
Cyprus Italy new Tax Treaty
A new protocol signed in June 2009 removes Cyprus from the Italian CFC blacklist. June 2009
Turkey new Incentive Package
Reduced corporate income tax rates, ranging from 10% to 2% in the new incentive plan unveiled by Turkey PM, Erdogan .June 2009.
Serbia Dividend Income
The tax base for dividend income is now 80%, replacing the previous 50% tax base. June 2009.
EU, Latvia V.A.T. on Land for Construction
The European Commission requested Latvia to stop exempting from V.A.T transactions involving land for construction. May 2009.
Poland Tax updates 2009
New personal income tax rates of 18% and 32% replace the 2008 rates. Corporate tax rate and V.A.T rates are unchanged. January 2009.
Israel new Tax Rates 2009
From 1.1.2009 the new corporate tax rate is 26%. The top marginal tax rate for individuals is reduced to 46%. January 2009.
Latvia New V.A.T rates
From 1.1.2009 the new standard V.A.T rate in Latvia is 21%. As of January 2009.
Tax Updates 2008
Israel New V.A.T regulations
Israeli confirmed new V.A.T. regulations regarding service suppliers. As of December 2008.
Hong Kong Vietnam Double Taxation Treaty
According to the treaty any tax paid in Hong Kong by Vietnam residents\companies would be credited against tax payable in Vietnam. As of December 2008
U.S. and New Zealand Tax Treaty
The U.S and New Zealand signed a new protocol updating the tax current tax treaty between the two countries. As of December 2008
UK New Reduced V.A.T Rate 2008
From 1.12.2008 the U.K. V.A.T rate has been reduced from the previous 17.5% rate to 15% - As of December 2008
Israel updated figures regarding donations
The Israeli tax authority published updated figures regarding donations to public non-profit organisations. As of December 2008
Netherlands's Budjet 2009
The Dutch cabinet presented on September 16 the Netherlands budget for 2009. As of November 2008
Malta's Budget 2009
Malta's finance minister presented on November 3, 2008 the 2009 budget. As of November 2008
Ireland's Budget 2009
Ireland's finance minister presented on October 14 the Irish budget for 2009. As of October 2008.
Hungary Corporate Tax Rate Update
The government proposed to change the corporate tax rate from 16% to 18% and abolish the 4% solidarity tax. As of September 2008.
Greece Tax Rates 2009
Greece corporate tax rate would be reduced in the years 2010-2014 from 25% to 20%. Dividend payments by Greek companies would be subject to 10% tax withholding - As of September 2008
U.S. Malta new Tax Treaty
The U.S. and Malta signed a new tax treaty on August 8, 2008 .The treaty deals with withholding tax rates for dividends, royalties and interest payments.The treaty has to be ratified by both countries - As of August 2008
US Tax Rates 2008
U.S. 2008 tax rates and tax laws at a glance. Corporate and Individual 2008 tax rates, AMT, Alternative Minimum Tax, Capital Gains Tax, Sales Tax, Social Security and more - As of July 2008
Romania Tax News 2007: Social Security
From 1.8.2007 employees in Romania would pay social security contribution according to their full gross salary - as of August 2007
Czech Republic: Czech Corporate Tax Cut
The parliment voted for a reduction of the Czech corporate tax, from the current 2007 24% tax rate to 19% in 2010 - as of August 2007
