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China: Tobacco Leaf Tax and Vessel Tonnage Tax Laws Passed

(Jan. 19, 2018) On December 27, 2017, in its last session of 2017, the Standing Committee of the National People’s Congress of China (NPC) adopted laws regulating the taxation of tobacco leaves and the taxation of vessel tonnage. (Zhonghua Renmin Gongheguo Yanye Shui Fa (Dec. 27, 2017), NPC website; Zhonghua Renmin Gongheguo Chuanbo Dunshui Fa […]

Belarus: Decree Introduces Common-Law Principles and Tax Exempts Mining of Cryptocurrencies

(Jan. 3, 2018) On December 21, 2017, the President of Belarus signed the Decree on Developing the Digital Economy, which is aimed at “creating conditions, under which world-class IT companies would come to Belarus to work on developing new products and technologies that would be in demand worldwide.”  (Decree No. 8 of Dec. 21, 2017, […]

Turkey: Law to Increase Tax Revenues Adopted

(Dec. 28, 2017) On December 5, 2017, Turkey’s Law No. 7061 on the Amendment of Some Tax Laws and Some Other Laws, which was adopted on November 28, 2017, was published in the Official Gazette (Resmi Gazete). Aspects of the Law become effective on various dates. (Bazi Vergi Kanunlari ile Diger Bazi Kanunlarda Degisiklik Yapilmasina […]

United Kingdom: $20 Million in Tampon Tax to Be Distributed to Women’s Charities

(Dec. 12, 2017) In the United Kingdom, there has been a long-running campaign to remove value-added tax (VAT) from women’s sanitary products. Since January 1, 2001, the VAT rate charged for sanitary products has been 5%, a 15% discount on the current 20% rate of VAT in the UK and the lowest rate currently permitted […]

Mexico: Fiscal Benefits Relief for the Populations Affected by the Earthquake

(Oct. 20, 2017) In a decree published on October 2, 2017, the Mexican government granted  fiscal benefits to taxpayers who were affected by the September 19, 2017, earthquake in municipalities in the states of Mexico, Guerrero, Morelos, Oaxaca, Puebla, and Tlaxcala, but not in Mexico City. The Secretary of the Treasury, José Antonio Meade, explained that the […]

Thailand: Revised Excise Tax Law

(Oct. 12, 2017) On September 16, 2017, a revised excise tax came into force in Thailand that increases taxes on seven products, including alcoholic beverages, playing cards, sugary drinks, and tobacco. Speculation in advance was that prices would go up substantially. For that reason, the commerce and finance ministries moved to limit hoarding of the […]

United Arab Emirates: New Law Issued Creating Value-Added Tax on Transactions

(Oct. 3, 2017) On August 28, 2017, the United Arab Emirates (UAE) Ministry of Finance announced the issuance of Federal Law No. 8 of 2017 on Value-Added Tax (VAT). (Federal Law No. 8 of 2017 on VAT, UAE Ministry of Finance website (Aug. 28, 2017) (click on the PDF icon to view text of the law).) […]

Germany: Nonprofits May Engage in Non-Partisan Politics Without Losing Tax-Exempt Status

(Sept. 8, 2017) In a decision published on August 9, 2017, the German Federal Financial Court (Bundesfinanzhof, BFH) held that nonprofit corporations may engage in non-partisan politics without losing their tax-exempt status. (Bundesfinanzhof [BFH] [Federal Financial Court], docket no. X R 13/15 (Aug. 9, 2017), BFH website in German).) The Court stated that a nonprofit corporation […]

Thailand: Land, Building Tax Draft Considered

(Sept. 5, 2017) Thailand is considering changes to its land and buildings tax, including a provision to allow local authorities in the future to appraise property values. The current system in which sometimes rental income is used to determine tax liability will be ended.  A draft bill on the subject, prepared by the Council of […]

Sri Lanka: Supreme Court Rules Against New Tax Law

(Aug. 28, 2017) On August 4, 2017, the Speaker of the Sri Lankan Parliament, Karu Jayasuriya, announced that he had been informed that the Supreme Court would not approve the proposed new Inland Revenue Act. (Sri Lanka’s Supreme Court Shoots Down Tax Reforms, DAILY STAR (Aug. 6, 2017).)  Under the Constitution of Sri Lanka, the […]