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14th ATAIC Conference
Date
Saturday, November 18, 2017

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9 - 13 December 2017, Tehran


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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Czech Prime Minister Proposes Bank Tax
International Tax News

Czech Prime Minister Proposes Bank Tax

<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:justify;line-height:normal">Theruling Czech Social Democratic Party, led by Prime Minister Bohuslav Sobotka,will introduce a special tax on the countrys banks if it wins electionsscheduled for later this year.<o:p /></p> <p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:justify;line-height:normal">Theparty confirmed recently that the bank tax will form part of its electionprogram and would be modeled closely on Austrias bank levy. The tax isintended to prevent banks from shifting untaxed profits out of the country.<o:p /></p> <p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:justify;line-height:normal">Theparty accused the countrys banking sector of having shifted CZK460bn inprofits abroad over the last 14 years. <o:p /></p> <p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:justify;line-height:normal">Accordingto the SDPs announcement, the bank tax will be progressive, rising with thelevel of a banks assets.<o:p /></p> <p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:justify;line-height:normal">Thetax will start at 0.05 percent on assets up to CZK50m (USD1.96m), increasing toup to 0.4 percent on banks with assets of more than CZK300bn. <o:p /></p> <p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:justify;line-height:normal">Thetax would be paid in addition to corporate tax and is expected to raise CZK11bnin revenue.<o:p /></p> <p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:justify;line-height:normal">Electionsto the Czech Republics Chamber of Deputies are due to be held on October 27,2017.<o:p /></p>Tax-News.com

News Date: 20170000
South Korea Achieved Record Tax Revenues In 2016
Switzerland Rejects Corporate Tax Reform
UAE Confirms Details For VAT From January 2018
New Zealand Eyes Tax Cuts In Budget
UK To Waive Tax On Deceased Taxpayers ISA Investments

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