Hong Kong Gazettes Enhanced R&D Deduction

Hong Kong Gazettes Enhanced R&D Deduction

Hong Kong Government has gazetted law to allow enhanced tax deduction for expenses incurred by business enterprises on research and development (R&D) activities in Hong Kong.

The measure was announced by Carrie Lam, Chief Executive of Hong Kong, in her 2017 Policy Address.Continue Reading

Global Solution Needed to Tax Digital Economy: Policy Paper

Global Solution Needed to Tax Digital Economy: Policy Paper

The US-based Association of International Certified Professional Accountants has called for international coordination to develop a global solution to the tax challenges posed by the digital economy.Continue Reading

EU Digital Services Tax Proposal ‘Unfair’: US Treasury Secretary

EU Digital Services Tax Proposal ‘Unfair’: US Treasury Secretary

US Treasury Secretary Steven Mnuchin has issued a statement noting “strong” concerns with countries’ consideration of a digital services tax proposal.

In March 2018, the EU Commission announced it proposal to introduce an interim tax, which would cover the main digital activities that currently escape tax altogether in the EU.Continue Reading

Ireland Finance Bill 2018 to Include International Tax Measures

Ireland Finance Bill 2018 to Include International Tax Measures

Ireland would introduce key international tax measures in Finance Bill 2018 to comply with the EU Anti-Tax Avoidance Directive, Finance Minister Paschal Donohoe said in his 2019 Budget Statement released on October 9. The Finance Bill 2018 is due to be published on October 18.Continue Reading

New Zealand Reveals Details of New R&D Tax Incentive

New Zealand Reveals Details of New R&D Tax Incentive

New Zealand Government has revealed details about the new research and development (R&D) tax incentive aimed at encouraging businesses to invest more in R&D activities.

The rate for the tax incentive will be set at 15 percent for income years starting 2019-20. All businesses, regardless of legal structure, will be eligible to claim the tax incentive.Continue Reading