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Tax-News.com: US House Lawmakers Considering IRS Overhaul

The Ways and Means Committee of the US House of Representatives considered bills to overhaul the Internal Revenue Service (IRS) and strengthen taxpayer protections at its recent markup session.

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Tax-News.com: Think Tank Calls For Scottish VAT Devolution

Reform Scotland, a non-partisan think tank, has called for value-added tax powers to be devolved from the UK Government to the Scottish Government, once legal restrictions imposed by EU law are lifted...

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Tax-News.com: Time For Latin America, Caribbean To Hike Tax: World Bank

With economic recovery being reported in Latin American and Caribbean states, a new World Bank report says governments must now look to fiscal policy to reduce their deficits.

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Tax-News.com: Germany To Provide Tax Relief In 2019

German Finance Minister Olaf Scholz has indicated that the Government may provide limited personal income tax relief by adjusting tax brackets next year, with tax revenues expected to be higher than...

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Tax-News.com: HK's Legislature Passes 2018/19 Budget Bill

Hong Kong's Secretary for Financial Services and the Treasury, James Lau, has welcomed the recent passage of the 2018/19 Budget Bill through the special administrative region's parliament.

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Tax-News.com: Tax Regime Overhaul Announced In Barbados

Barbados's new government has issued a new Budget that would raise corporate and income tax rates, repeal the National Social Responsibility Levy and road tax and make other value-added tax and levy...

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Tax-News.com: IMF Urges US To Hike Indirect Taxes

The International Monetary Fund has recommended that the United States raise indirect taxes to boost revenues, to offset the cost of recent tax cuts and spending increases.

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Tax-News.com: Finnish Government Reaches 2019 Budget Agreement

A number of incentives have been included in the Finnish Government's 2019 Budget to encourage investment in the shares of both small and listed companies.

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Tax-News.com: At UN General Assembly, OECD Urges Global Carbon Tax Action

Three years on from the commitments made at the 2015 United Nations Climate Change Conference (COP21) in Paris, the overwhelming majority of governments have not taken the necessary action to contain...

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Tax-News.com: Spain To Press Ahead With Digital Tax

The Spanish Government will proceed with a proposal to introduce a digital services tax along similar lines to the European Commission's proposed interim digital tax.

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Tax-News.com: OECD Releases Mining Sector BEPS Guidance For Developing States

The OECD and the Intergovernmental Forum on Mining, Minerals, Metals, and Sustainable Development have finalized three practice notes intended to support resource-rich developing countries to protect...

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Tax-News.com: EU Tells Italy To Revise 2019 Budget Plan

On October 23, 2018, the European Commission issued a request to the Italian Government that it revise its draft budgetary plan for 2019 because it breaches European Union fiscal rules.

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Tax-News.com: Brexit Withdrawal Agreement Put To UK Lawmakers

An agreement has been reached between the European Union and the United Kingdom on Brexit, which, if approved by UK lawmakers, would establish a transition period, until the end of 2020, during which...

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Tax-News.com: FASB Issues New Accounting Rules For Audiovisual Content Producers

On March 6, 2019, the Financial Accounting Standards Board issued an Accounting Standards Update that is intended to help organizations align their accounting for production costs for films and...

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Tax-News.com: France May Cut Tax In Response To Protests

French Prime Minister Edouard Philippe has said that France should prioritize tax cuts following the conclusion of a three-month national consultation on the Government's economic and tax policies.

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Tax-News.com: France To Flesh Out Tax Cut Plans In June

French Prime Minister Edouard Philippe announced on April 30, 2019, that plans for reductions in personal and corporate income tax will be released by the Government in June 2019.

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Tax-News.com: IMF Advises Luxembourg On Coping With International Tax Changes

The IMF has welcomed Luxembourg's efforts to meet international tax standards but cautioned that international tax reform could hit the country's tax base.

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Tax-News.com: South African Carbon Tax Introduced On June 1

On May 26, 2019, South African President Cyril Ramaphosa signed into law the Carbon Tax Act No 15 of 2019, which came into effect on June 1, 2019, as announced by the Minister of Finance in the 2019...

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Tax-News.com: Hungary Announces Tax Cut Plan

On May 31, 2019, the Hungarian Ministry of Finance announced numerous tax cuts as part of an economic growth plan.

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Tax-News.com: Hungarian Lawmakers To Decide On Tax Cuts Plan

Hungary's 2020 Budget law is before parliament for approval. Most tax-related proposals would become effective from the start of 2020.

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