Tax Regulations
Ireland: Tax Regulations
Ireland: Tax Regulations Corporate taxes: Overview Feb. 2 (Economist Intelligence Unit) — Ireland has one of the lowest headline corporate tax rates in the European Union, at 12.5%; this compares with 25% in the UK (from 2012); 29-32% in Germany; 27.75% in Luxembourg; and 33.33% in France. As a small open economy, largely dependent on [...]
Ecuador: Tax Regulations 5 Jan 2012
Ecuador: Tax Regulations Corporate taxes: Overview The Code of Production, Commerce and Investment (Código de la Producción, Comercio e Inversiones), passed in November 2010, included a provision that cut the corporate tax rate by 1 percentage point per year until it reaches 22% in 2013. Consequently, Ecuador’s corporate income tax rate for 2011 stood at [...]
Canada: Tax Regulations
Canada: Tax Regulations Corporate taxes: Overview Oct. 4 (Economist Intelligence Unit) — Canadian companies have generally been taxed at higher rates than firms in the United States, a disadvantage since the two economies are highly integrated and compete for investment and human resources. However, the Conservative-led government’s minority electoral victory in 2006 prompted successive reductions [...]
South Korea: Tax Regulations
South Korea: Tax Regulations South Korea levies both national and local taxes. National taxes comprise five direct and five indirect internal taxes, customs duties and three earmarked levies: an education tax, a transport tax and a special tax for rural development. Income tax, corporation tax and value-added tax account for most of South Korea’s internal [...]
Israel: Tax Regulations
Israel: Tax Regulations Israeli corporate taxation involves both taxation of a company’s total undistributed profit and taxation of dividends when distributed. The amount of tax to be paid is calculated via a form of self-assessment, which the tax authorities review. Taxation in Israel is complex and subject to frequent changes. Hence, it is advisable to [...]
Egypt: Tax Regulations
Egypt: Tax Regulations The government amended the tax code in 2005 to attract investment, boost business activity and tackle tax evasion by standardising the Egyptian Tax Authority’s collection procedures. Parliament approved the tax reform in June 2005 via the Income Tax Law 91/2005, affecting both personal and corporate taxes. Executive regulations were issued in November [...]
Singapore: Tax Regulations
Singapore: Tax Regulations — Singapore taxes on a territorial basis. Tax applies on all income accrued in or derived from Singapore, and on all foreign income remitted into Singapore. Compared with other countries in the region, Singapore’s tax burden is moderate, and various incentives can reduce it substantially. Tax morality in the city-state is high. [...]
New Zealand: Tax Regulations
New Zealand: Tax Regulations – The Income Tax Act 2007 (a revision of the original Income Tax Act 2000) governs taxation in New Zealand; the Tax Administration Act 1994 governs how the Inland Revenue Department (IRD) administers tax legislation. Indirect taxes, mainly via the goods and services tax (GST), generate more than one-third of all [...]
El Salvador: Tax Regulations
El Salvador: Tax Regulations – Corporate taxation in El Salvador is low, and the government relies heavily on indirect taxes, such as the value-added tax (VAT). A fiscal-reform package designed to raise El Salvador’s low revenue collection came into force in January 2010, albeit in a somewhat watered-down version from its original conception. Although the [...]
USA: Tax Regulations
USA: Tax Regulations June 10 – Tax jurisdiction in the United States is divided among the federal government, the 50 states and District of Columbia, and local counties and municipalities. All residents, foreign individuals and companies engaging in business or investment transactions in the US are subject to some form of US taxation. A company’s [...]
