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Recent Events
Czech Prime Minister Proposes Bank Tax
The ruling Czech Social Democratic Party, led by Prime Minister Bohuslav Sobotka, will introduce a special tax on the countrys banks if it wins elections scheduled for later this year.
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South Korea Achieved Record Tax Revenues In 2016
South Korea posted a small fiscal surplus in 2016 for a second year running, largely due to an unexpected increased in corporate tax and value-added tax revenues.
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Switzerland Rejects Corporate Tax Reform
Proposed changes to Switzerlands corporate tax framework have been rejected in a referendum.
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UAE Confirms Details For VAT From January 2018
The UAE has provided more details on plans to introduce VAT at a rate of 5 percent across the other Gulf Co-operation Council (GCC) member states on January 1, 2018.
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UAE Confirms Details For VAT From January 2018
International Tax News

UAE Confirms Details For VAT From January 2018

<p class="MsoNormal" style="line-height: normal; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; direction: ltr; unicode-bidi: embed;"><span style="font-family: times new roman, serif; font-size: 13pt;">The UAE hasprovided more details on plans to introduce VAT at a rate of 5 percent acrossthe other Gulf Co-operation Council (GCC) member states on January 1, 2018.</span></p> <p class="MsoNormal" style="line-height: normal; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; direction: ltr; unicode-bidi: embed;"><span style="font-size:13.0pt;font-family:times new roman,serif;mso-ascii-theme-font:major-bidi;mso-fareast-font-family:times new roman;mso-hansi-theme-font:major-bidi;mso-bidi-theme-font:major-bidi">The Ministry ofFinance said on its website that businesses will be able to register for thetax online three months before the launch.<o:p /></span></p> <p class="MsoNormal" style="line-height: normal; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; direction: ltr; unicode-bidi: embed;"><span style="font-size:13.0pt;font-family:times new roman,serif;mso-ascii-theme-font:major-bidi;mso-fareast-font-family:times new roman;mso-hansi-theme-font:major-bidi;mso-bidi-theme-font:major-bidi">Most registeredcompanies will need to submit returns detailing business activities andtransactions every three months, it said.<o:p /></span></p> <p class="MsoNormal" style="line-height: normal; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; direction: ltr; unicode-bidi: embed;"><span style="font-size:13.0pt;font-family:times new roman,serif;mso-ascii-theme-font:major-bidi;mso-fareast-font-family:times new roman;mso-hansi-theme-font:major-bidi;mso-bidi-theme-font:major-bidi">The UAE saidthat its VAT law is still being finalized. It will be made available onlinewhen that process is completed.<o:p /></span></p> <p class="MsoNormal" style="line-height: normal; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; direction: ltr; unicode-bidi: embed;"><span style="font-size:13.0pt;font-family:times new roman,serif;mso-ascii-theme-font:major-bidi;mso-fareast-font-family:times new roman;mso-hansi-theme-font:major-bidi;mso-bidi-theme-font:major-bidi">At a meeting onJune 16, 2016, ministers of finance from the Gulf Cooperation Council statesapproved, in principle, the introduction of VAT and new excise duties, as partof a common framework. It paved the way for the introduction of harmonizedexcise duties from January 1, 2017, and a pan-GCC VAT framework from January 1,2018.<o:p /></span></p> <p class="MsoNormal" style="line-height: normal; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; direction: ltr; unicode-bidi: embed;"><span style="font-size:13.0pt;font-family:times new roman,serif;mso-ascii-theme-font:major-bidi;mso-fareast-font-family:times new roman;mso-hansi-theme-font:major-bidi;mso-bidi-theme-font:major-bidi">Tax-news.com<o:p /></span></p>

News Date: 20170000
Czech Prime Minister Proposes Bank Tax
South Korea Achieved Record Tax Revenues In 2016
Switzerland Rejects Corporate Tax Reform
New Zealand Eyes Tax Cuts In Budget
UK To Waive Tax On Deceased Taxpayers ISA Investments

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