Canada
Bucks Trend With Falling
Corporate Tax Rate,
by
Mike Godfrey, Tax-News.com,
Washington
16/11/2009
A
KPMG survey has found
that while Canada's corporate
taxes are high relative
to many of its main competitors,
the general rate is continuing
to fall in contrast to
recent global tax rate
trends, while its indirect
taxes remain comparatively
low and stable.
UK
Tax System Hindering
Carbon Reduction Efforts,
by
Robert Lee, Tax-News.com,
London
16/11/2009
The
UK tax system currently
fails to provide manufacturing
companies with the incentives
they need to develop
low carbon technologies,
a new report has concluded.
Lloyds
Bank Fails In Court
Bid To Avoid GBP54m
Tax Bill,
by
Robin Pilgrim, LawAndTax-News.com,
London
16/11/2009
A
long-running legal battle
between Lloyds Banking
Group and HM Revenue
and Customs, the UK
tax authority, looks
set to rumble on after
a judge decided that
the bank was liable
for more than GBP50m
in corporation tax resulting
from its cashing in
of derivative contracts.
| New
Zealand - Hong Kong, China
Agree CEPA,
by Mary Swire, Tax-News.com,
Hong Kong
17/11/2009
New
Zealand’s Prime
Minister, John Key, and
Hong Kong’s Chief
Executive, Donald Tsang,
have announced the conclusion
of negotiations for a
New Zealand - Hong Kong,
China Closer Economic
Partnership Agreement.
German
Economists Criticize
Coalition's Tax Cut
Plans,
by
Ulrika Lomas, Tax-News.com,
Brussels
17/11/2009
In
its latest annual report,
the German government’s
group of leading economic
advisors has vehemently
criticized both the
government’s recently
announced tax cut plans,
and the 'empty' statements
contained in the coalition
agreement regarding
budgetary consolidation.
Italian
Amnesty May Break EU
Law, by
Ulrika Lomas, Tax-News.com,
Brussels
17/11/2009
According
to a study published
by the European Policy
Forum authored by an
expert in EU legislation,
Advocate Giuseppe Giacomini
of Genoa, the tax amnesty
launched by the Italian
government contravenes
EU law by breaking rules
designed to maintain
a level playing field
in financial markets
across Europe.
| Germany's
Brüderle Insists
On Graduated Tax Rates,
by Ulrika Lomas, Tax-News.com,
Brussels
18/11/2009
As
Germany’s newly
formed coalition government
holds its first cabinet
meeting in Meseberg, Economics
Minister and Free Democratic
Party member Rainer Brüderle
has insisted that the
government honor its recent
pledge to introduce a
graduated system of income
tax tariffs.
US
Lawmakers Seek To Fix
Unfair Tax Penalties,
by
Mike Godfrey, Tax-News.com,
Washington
18/11/2009
Legislation
has been introduced
in the United States
Congress to help ensure
penalties assessed by
the Internal Revenue
Service on tax shelter
investments are in proportion
to the tax benefits
received.
French
PM To Reassure Mayors
On Local Tax Reform,
by Ulrika Lomas, Tax-News.com,
Brussels
18/11/2009
 French
mayors are attending
a congress meeting in
Paris to debate the
highly controversial
reform of local authorities
and the equally contentious
abolition of local business
tax in France.
|
The
Chartered Institute of Taxation
has welcomed the news that
the UK's HM Revenue and Customs
intends to retain the ‘equitable
liability’ practice,
which often protects taxpayers
with the least means to defend
themselves against often unnecessary
enforcement actions.
United
States Senate Majority Leader
Harry Reid is understood to
be drawing up plans for a
new payroll tax on high-income
earners to help fund the healthcare
reforms called for by President
Obama.
New
Zealand’s Energy and
Resources Minister, Gerry
Brownlee, has announced the
government's action plan for
maximizing the development
of the country’s oil
and gas resources, which will
involve changes to its petroleum
tax regime.