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Oman Tax revenue forms just 1.5% of GDPChris Bale's insight:Davis Kallukaran, Managing Partner of Horwath Mak Ghazali, said the government revenue from income tax is around OMR350 million and customs duty constitutes another OMR180 million per annum."In Oman, we have a very low rate of taxation. When compared to other countries like India or the Un […]
Doctors, lawyers and others say they are ‘asphyxiated’ by increasesChris Bale's insight:Another group joined France’s rumbling tax revolt yesterday, when 750,000 members of the National Union of Liberal Professions (UNAPL) declared themselves “asphyxiated” by taxation and excessive government regulation.Four-fifths of the professionals, who include doct […]
Chris Bale's insight:Deloitte Tax LLP Principal Aydin Hayri recently published Transfer Pricing in Action, a business novel that attempts “to bridge the abstract theory of transfer pricing and its everyday practice.” Hayri comments that he "wants readers to appreciate that tax planning decisions are as real and mission-critical as any other busines […]
James Henry: Canadian companies use Barbados as a tax haven to reduce their taxes from 24 percent to 2.5 percent, leaving Barbados with revenue shortage See ...Chris Bale's insight:Interesting interview with James Henry, Senior Economist with the Tax Justice Network. 75% of the banking sector in Barbados is Canadian owned.See it on Scoop.it, via Totally […]
Chris Bale's insight:Here's what the IMF says - it falls short of an actual recommendation but seems pretty bullish about the upside. "The sharp deterioration of the public finances in many countries has revived interest in a “capital levy”— a one-off tax on private wealth—as an exceptional measure to restore debt sustainability.1 The appeal i […]
The Internal Revenue Service has spent 19 months and more than $8.6 million getting ready to enforce a new law against offshore tax evasion that takes effect next year, but the agency is still not prepared, a watchdog...Chris Bale's insight:More IRS computer and staff improvements are needed to administer the Foreign Account Tax Compliance Act, said the […]
It is not every day that you hear a major Union calling for a cut in the corporate tax rate, but it is a sign of how bad the economy really is in France when Union leaders and Chief Execs are singing from the same hymn sheet.Chris Bale's insight:Given that the rate of compulsory levies in France is currently one of the highest in Europe, just behind Den […]
It’s as traditional as turkey and football on Thanksgiving. The IRS again last week released some important news just before a major holiday. Taxand USA discusses the significant changes to US transfer pricing regulations announced last week.Chris Bale's insight:If you are a US corporate contemplating a Competent Authority claim or an Advance Pricing Ag […]