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Russian lawmakers approve profit-based taxation for oil production

MOSCOW The lower house of Russian parliament on Thursday approved in the third and final reading the new, profit-based, taxation for a limited number of oilfields, as part of efforts to boost domestic oil production, the Energy Ministry said.

Russian lawmakers back higher taxes in preliminary vote

MOSCOW Russian lawmakers on Tuesday backed a proposal to raise value-added tax in a preliminary vote, part of an unpopular budget package designed to shore up government finances which has already hurt President Vladimir Putin's approval ratings.

Jul 03 2018

Pricey Hong Kong set to impose vacancy tax on empty new flats

HONG KONG Hong Kong proposed a vacancy tax on empty new homes on Friday in an attempt to discourage developers from hoarding, but analysts expect the measure to have little impact on prices in a property market rated the world's least affordable.

Jun 29 2018

California prohibits city soda taxes through 2030

Big Soda scored a major victory on Thursday as California passed a law that bans local sugar taxes through 2030 in the most populous U.S. state, where cities including Berkeley have approved such levies.

Jun 28 2018

Australia forced to shelve $48 billion company tax cut as senators scuttle bills

SYDNEY Australia center-right government was forced on Thursday to shelve for at least two months its plans to cut company taxes by around A$65 billion ($47.79 billion) after failing to get enough support from lawmakers.

Jun 27 2018

Australia's Turnbull faces setback after lawmakers target corporate tax cut

SYDNEY Australian Prime Minister Malcolm Turnbull faces a fresh blow in parliament this week, with the Senate poised on Monday to reject his government's plans for a corporate tax cut after several independent lawmakers vowed to vote against the measure.

Jun 25 2018

Portugal parliament rejects petrol surcharge in blow to government

LISBON Portugal's parliament approved on Thursday a motion by the centre-right opposition to end a surcharge on petrol, undermining the ruling Socialists as their leftist allies sided with the opposition by abstaining and threatening revenues.

Jun 21 2018

Australia $106-billion income tax cuts seen boosting PM re-election bid

CANBERRA Australia passed a A$144 billion ($106 billion) package of income tax cuts on Thursday after right-wing leader Pauline Hanson backed the legislation, potentially boosting the re-election prospects of the center-right government.

Jun 21 2018

Seattle City Council repeals 'head tax' weeks after enactment

SEATTLE The Seattle City Council on Tuesday repealed a newly enacted "head tax" on the city's largest companies, including Amazon.com, in the face of seemingly insurmountable big-business opposition to a revenue measure meant to combat homelessness.

Jun 12 2018

Nordic countries oppose EU plans for digital tax on firms' turnover

BRUSSELS Finance ministers of the European Union's three Nordic countries have urged their partners to shelve a plan to tax large corporations for their digital turnover, saying it could damage the European economy.

May 31 2018

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