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Tag Archives: corporate tax

Australia to crack down on corporate tax shifting in budget

corporate tax

CANBERRA: Australia plans to announce tougher rules on cross-border taxation in the upcoming budget to tighten loopholes that have allowed multinational companies to avoid paying taxes, Treasurer Joe Hockey told Reuters on Friday. Australia has joined Britain in a crackdown on companies such as global tech giants, Apple and Microsoft over tax evasion, particularly the shifting of profits from high-tax ... Read More »

S Korean finance minister sounds warning against raising corporate tax

korea

SEOUL: S Korean finance minister Choi Kyung-hwan has stressed it would be ill-advised for South Korea to mark up tax rates when other neighboring countries are doing the opposite. The finance minister pointed out that such a move can slow down economic recovery, and slower growth can lead to less taxes being collected. Choi, who doubles as deputy finance minister, ... Read More »

S Korean finance minister sounds warning against raising corporate tax

korea

SEOUL: S Korean finance minister Choi Kyung-hwan has stressed it would be ill-advised for South Korea to mark up tax rates when other neighboring countries are doing the opposite. The finance minister pointed out that such a move can slow down economic recovery, and slower growth can lead to less taxes being collected. Choi, who doubles as deputy finance minister, ... Read More »

S Korean finance minister sounds warning against raising corporate tax

korea

SEOUL: S Korean finance minister Choi Kyung-hwan has stressed it would be ill-advised for South Korea to mark up tax rates when other neighboring countries are doing the opposite. The finance minister pointed out that such a move can slow down economic recovery, and slower growth can lead to less taxes being collected. Choi, who doubles as deputy finance minister, ... Read More »

Finance Dept to decrease corporate tax rate: Philippines

dof

MANILA: The finance department has decided to cut the taxes on companies’ profits. Talking about the proposal to bring down the corporate income tax rate to 25 percent from 30 percent at present, Finance Undersecretary Gil S. Beltran said that comprehensive tax reform is being put together to allow us to cut rate.” Without disclosing details, Beltran said the comprehensive tax ... Read More »

Philippines SC orders to stop collecting corporate tax from Pagcor

SC

MANILA;  Philippines Supreme Court has ordered the Bureau of Internal Revenue (BIR) to stop collecting corporate income tax from the Philippine Amusement and Gaming Corp.’s (Pagcor) operations and licensing of gambling casinos, gaming clubs and other similar recreation or amusement places, gaming pools and other related activities. In a 14-page decision released recently, the court en banc ordered the BIR ... Read More »

Increase in revenue linked to broadening tax base

KTBA

KARACHI: The government wants to generate more revenue, but it avoids widening tax base that is said to barely cover 0.30 per cent of the population, said former Karachi Tax Bar Association (KTBA) president Anwar Kashif Mumtaz. He was addressing a seminar by the KTBA on “Finance Act 2014” and attended by tax practitioners and consultants in great number. He ... Read More »