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Author Archives: Tahir Iqbal

Hungary courts Tesla with tax breaks,

BUDAPEST:  Hungary’s foreign minister has met executives of electric vehicle manufacturer Tesla during a tour of Silicon Valley, extolling tax breaks and other incentives offered to car makers, national news agency MTI reported on Friday. The production and export of cars by foreign automakers is a key driver of economic growth in Hungary, where wages for skilled workers are well ... Read More »

Danish parties in ‘race against clock’ as negotiations continue over tax,

COPENHEGEN: The nationalist Danish People’s Party (DF) is yet to reach agreement with the government on either area, as the parts aim to reach separate deals that can be voted through parliament before Christmas. Last week, a new budget was agreed between the parties, ostensibly on the understanding that deals would be reached on the other two areas before Christmas. ... Read More »

Exports up 11.4 percent as imports rise 21.4 percent

LISBON: In September, exports increased by 5.7 percent and imports rose by 8.5 percent year on year. According to INE figures, in the three months to October 2017, exports rose 10.2 percent and imports increased 14.1 percent, over the same period of 2016. Considering October 2017 alone, in terms of year on year monthly variations, exports mainly increased due to ... Read More »

Jordan, freedom caucus voice support of tax bill

AMMAN: Conservatives in the house freedom caucus said Thursday they support a sweeping tax package speeding toward votes in Congress next week, giving GOP leaders a boost from a key faction as they work to deliver a major legislative victory to President Donald Trump. “I think it’s going to pass. I think you’re going to see the vast majority of ... Read More »

Police detain 96 illegal immigrants in Port of Spain

MADRID: In a combined anti crime exercise involving police and several other agencies, 96 prohibited immigrants were detained after they were found to have entered the country illegally. Among them were 45 Venezuelans, 16 Guyanese, 10 Jamaicans, 9 Chinese, 7 Cubans, 3 Colombians, and one each from Italy, the Philippines, Nigeria, Ghana, Dominica and St. Vincent and the Grenadines. This ... Read More »

VAT collection row in share transaction surfaces again

KHATMANDU: On Sunday, the tax office sent letters to Sewa Securities, Sundhara Securities and Nepal Investment Management to settle their VAT dues of last four fiscal years  2016-17, 2015-16, 2014-15 and 2013-14. “As these three brokerage firms have not cleared their outstanding VAT amount on their commission, we have instructed them in writing to settle the tax within the next ... Read More »

State bank to inject $150m into foreign reserves

KABUL: Meanwhile, economic commentators have said that over the past fifteen years, the government has not been able to use the country’s foreign exchange reserves for the expansion of domestic production and economic development. They said that the government used foreign exchange reserves only to secure the stability of national currency in the money markets. “Our net reserves have crossed ... Read More »

Robertson continues Nats’ taxation by stealth

WILLINGTON: Grant Robertson will allow new benefits to rise in line with inflation while tax brackets will remain the same, pushing middle income New Zealanders into the highest bracket”, says ACT Leader David Seymour Mr Seymour has introduced an amendment to the Government’s Families Package Bill which would allow the Minister of Finance to index tax brackets to the rate ... Read More »

Jordan, freedom caucus voice support of tax bill

AMMAN: Conservatives in the house freedom caucus said Thursday they support a sweeping tax package speeding toward votes in Congress next week, giving GOP leaders a boost from a key faction as they work to deliver a major legislative victory to President Donald Trump. “I think it’s going to pass. I think you’re going to see the vast majority of ... Read More »

India’s tax department collects user data at multiple bitcoin exchanges,

MUMBAI: The Indian Income tax department has visited bitcoin exchanges across the country seeking to identify users. The widespread operation is being carried out over suspicions of tax evasion by exchange customers, the Press Trust of India states. The agency visited nine cryptocurrency exchanges in cities including Delhi, Pune, Bengaluru, Hyderabad and Kochi. According to tax department officials, the surveys ... Read More »

India’s tax department collects user data at multiple bitcoin exchanges

MUMBAI: The Indian Income tax department has visited bitcoin exchanges across the country seeking to identify users. The widespread operation is being carried out over suspicions of tax evasion by exchange customers, the Press Trust of India states. The agency visited nine cryptocurrency exchanges in cities including Delhi, Pune, Bengaluru, Hyderabad and Kochi. According to tax department officials, the surveys ... Read More »

Hait Belgium Jovenel Moïse shares his vision of change,

BEUSSL: On Wednesday, as part of his European tour, President Jovenel Moïse was received, along with members of his delegation, by a second group of Belgian businesswomen and businessmen. After introductory remarks by Olivier Willock, delegate administrator of the BECI (Brussels Business and Industry Enterprises), who presented for the Haitian delegation the business environment of Belgium, Moïse shared with the ... Read More »

Vietnam’s rice market fares well,

HANOI: Vietnam shipped abroad nearly 5.2 million tonnes of rice worth over 2.27 billion USD in the first 11 months of this year, surpassing the figure of the entire 2016 at 4.9 million tonnes, according to the Vietnam Food Association. In November, rice export volume exceeded 371,000 tonnes, down from over 437,000 tonnes in October. The drop was attributed to ... Read More »

Japan planning targeted corporate tax relief,

TOKYO: Japan’s ruling Liberal Democrat Party has approved a tax reform package that will cut corporate rates for companies who increase employee wages and productivity. Companies that increase employee wages by three percent would be able to reduce their corporate tax rate down to 25 percent. A further cut to 20 percent would be possible for companies investing into improving ... Read More »

No immediate impact’ from Philippines’ new coal tax

MANILA: The energy and mineral resources ministry has said that the Philippines’ plan to significantly increase its coal import tax in 2018 will not hamper coal trade between the two Southeast Asian countries in the immediate future. “At present, the Philippines still needs a huge amount of coal for its power plants. So we believe this new policy will not ... Read More »

Germans fear huge loss of jobs from US tax reform

BERLINA: While Americans are anxiously awaiting full details of the tax bill now being finalized in Congress, German economists are warning that the changes sought by President Donald Trump mean that significant amounts of new investment and jobs will shift from Europe to the United States. “The tax competition will have a new dimension,” said Christoph Spengel, chairman of the ... Read More »

Jokowi appoints Robert Pakpahan as new tax chief

JAKARTA: President Joko “Jokowi” Widodo has approved a proposal from Finance Minister Sri Mulyani Indrawati to appoint Robert Pakpahan, 58, as the new director general of taxation. An official at the Presidential palace told the Jakarta post on Thursday that Robert, currently the ministry’s financing and risk management director general, would assume the role on Dec. 1 to replace Ken ... Read More »

Senior Korean official to protest EU’s tax haven blacklisting

SEOL: A senior foreign ministry official will protest the European Union’s recent blacklisting of South Korea as a tax haven country during a meeting in Brussels Friday, a government source said. Deputy Foreign Minister for Economic Affairs Yun Kang-hyeon left for Brussels on Thursday to attend a regular Korea EU meeting, a ministry official told Yonhap on the condition of ... Read More »

Iraqi demand boosts Kurdistan’s car imports,

BAGHDAD: Differences in customs tax and facilitations made in issuing licenses, plate numbers and registration for traders is the reason why the Kurdistan Region has become a center for vehicle trade, according to our investigation into this increase in vehicle importation,” Nawzad Adham, general manager at the Ministry of Trade and Industry, told Rudaw. “Iraqi cities depend on Kurdistan for ... Read More »

German economy to grow by 2.6 pct in 2018,

BERLIN: The German economy will expand by 2.6 percent next year, the Ifo institute said on Thursday in its updated forecast for Europe’s economic powerhouse, pointing to a broad upswing that is generating record-high employment and buoyant tax revenues. The surprisingly bullish projection – a hike from Ifo’s previous estimate of 2.0 percent for 2018 comes despite a political stalemate, ... Read More »