corporate tax


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corporate tax

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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.
THE UK with its "corporate tax haven network" is "by far the world's greatest enabler" of corporate tax avoidance, research has claimed.
TCJA however, slashed that rate to 21 percent, which is below the global average 24.03 per cent corporate tax rate.
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.
He termed the proposed corporate tax cut ad hoc basis and it will give desired impetus for boosting investment and job creation.
"People on the right would say, 'If we have a big tax cut, that would lead to a lot of economic activity,' but if you have a lot of deductions already, a change in the corporate tax rate isn't going to change economic activity," he told International Business Times.
Global Banking News-May 22, 2017--Small Ghanaian banks apprehensive about corporate tax
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