Cyprus Finance Minister Harris Georgiades is said to be considering an increase of the corporate tax rate from 12.5% to 15% as part of a financial reform package.
Finance ministry sources on Tuesday confirmed reports that the government is considering raising the corporate tax rate from 12.5 per cent currently to 15 per cent, at the same time allaying concerns that the island might lose its competitive edge in this area.
SAMSUNG Electronics must pay 1.5 billion won ($1.34 million) in corporate tax, according to South Korea's top court, which decided that the company's patent-licensing deal with an Ireland-based conduit company was a tax-dodging attempt to exploit the special exemption clause in the South Korea-Ireland tax treaty.
'The government's proposed second phase of the tax reform is critical to the modernization of the corporate tax system in the Philippines, in support of the country's development,' IMF Asia-Pacific director Rhee Changyong said in his paper 'Tax Reform for a Brighter Future.'
The Duterte administration's planned corporate tax changes will improve the country's business environment, the International Monetary Fund's regional director said.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.