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Regulatory News

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South Korea to expand tax benefits for R&D spending to drive new growth


SEOUL South Korea's government plans to expand tax benefits for research and development of robotics and other technologies as it seeks out industries that could become new economic growth engines.

India makes crucial tweaks to push through stalled tax reform

NEW DELHI The Indian government on Wednesday made crucial amendments to its goods and services tax bill in a move to enlist the support of opposition parties as well as state governments.

Jul 27 2016

IOC has 'no interest in clean sport': whistleblower

A Russian whistleblower who helped uncover the biggest doping scandal in decades has told Reuters that the International Olympic Committee (IOC) is more concerned about protecting the organization than ridding world sport of drugs cheats.

Jul 25 2016

British Columbia imposes 15 percent property transfer tax on foreign home buyers

VANCOUVER British Columbia introduced a new 15 percent property transfer tax on foreign real estate buyers in Vancouver on Monday, one of new measures geared at increasing affordability in the city's red-hot housing market.

Jul 25 2016

Frequent changes to tax regimes cause uncertainty: Treasury's Lew

CHENGDU, China Frequent changes to tax regimes create uncertainty, U.S. Treasury Secretary Jack Lew said on Saturday at a G20 meeting of finance ministers and central bankers aimed at promoting economic growth.

Jul 23 2016

Chinese tax revenue rises 9.4 percent in first-half 2016

SHANGHAI Chinese tax revenue in the first half of 2016 was up 9.4 percent on the year at 6.5 trillion yuan ($973.64 billion), the State Administration of Taxation said.

Jul 20 2016

Russia oil sector tax plan expected back on track from 2017: energy minister

The Russian oil sector next year should return to a previously agreed tax plan, with oil export duty going down and mineral extraction tax (MET) rising further, Russian Energy Minister Alexander Novak told Reuters in an interview.

Jul 20 2016

Thai junta offers million baht raffle to bring tax returns online

BANGKOK "Want to win a million baht? Go for e-payment," says Thailand's junta, offering a lucky draw as an incentive to use a new online payment scheme for business, in an effort to bring some of the massive informal economy onto the books and boost tax revenues.

Jul 19 2016

Indonesia commences new tax amnesty program

JAKARTA The Indonesian government on Monday started the implementation of its new tax amnesty program as it seeks to boost tax revenues by encouraging the repatriation of funds stashed abroad.

Jul 18 2016

Canada launches tax probe of property cheats in Vancouver

OTTAWA Canada's tax authority is probing real estate deals in British Columbia for underpayment of taxes, amid a boom in sales, prices and property flipping, and said on Friday it is not specifically focusing on foreign investors.

Jul 15 2016

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