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.

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.

Proposed changes to Switzerlands corporate tax framework have been rejected in a referendum.

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.