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Tax Rates Around the World
(Note: Only the underlined countries are currently ready)
| Country |
Income Tax |
VAT |
| Corporate |
Individual |
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(Last partial update, August 1, 2010 )
1. In countries in which VAT is charged at a number of different rates, the rate in the Table is the highest rate.
2. The rates in the Table do not include Local tax, if it exists.
Tax and Business News
- Cyprus Off the Italian Blacklist
Cyprus was removed from the Italian CFC blacklist effective 4.8.2010. September 2010
- Bahrain Credit Rating Downgraded
Moody's credit rating agency downgraded Bahrain's credit rating from A2 to A3. August 2010.
- Finland Increased VAT Rate
The Finnish standard and reduced VAT rates increased by one percent effective from 1.7.2010. August 2010.
- Greece Second VAT Increase
The Greek standard and reduced VAT rates were increased from 1.7.2010 following a previous increase on March 15, 2010. August 2010.
- Poland to Increase V.A.T. Rate
The Polish government plans to increase the standard V.A.T. rate from 22% to 23% effective from 1.1.2011. August 2010.
- IRS Tax Tips
The U.S. IRS has published a set of important tax tips For U.S. taxpayers. August 2010.
- Hungary 10% Corporate Tax Rate
The Hungarian corporate tax rate was reduced from 19% to 10% for income below HUF 250 million. July 2010.
- Tunisia Saudi Arabia DTA
Tunisia and Saudi Arabia signed on July 8, 2010 a double tax treaty boosting trade relations between the two countries. July 2010.
- Ireland's Credit Rating Downgraded
Moody's credit rating agency downgraded the Irish credit rating by one step, from Aa1 to Aa2. July 2010.
- Bulgaria Tax Evaders
About 60%-80% of the retailers and shop owners in Bulgaria evade reporting their real turnover.July 2010.
- Estonia Euro Adoption
Estonia will adopt the Euro as its officaial currency starting 1.1.2011.The exchange rate will be 15.6466 Estonian Kroon to one Euro. July 2010.
- Portugal's Credit Rating Downgraded
Moody's credit rating agency cut on July 13, 2010 Portugal's credit rating by two steps. July 2010.
- Panama Tax Update 2010
There are significant changes in Panama's V.A.T. and income tax rates. July 2010.
- Georgia Singapore DTA Comes into Force
The double tax agreement between Geogria and Singapore came into force on June 28, 2010.July 2010.
- Hong Kong Ireland DTA
Hong Kong and Ireland signed on June 22, 2010 a double tax treaty. The treaty follows another DTA signed with the U.K. a day before. June 2010.
- Tajikistan Switzerland DTA
Tajikistan and Switzerland signed on June 23, 2010 a new double tax treaty, DTA, entering into force after ratification by both countries. June 2010.
- UAE Venezuela Double Tax Treaty
The UAE and Venezuela signed on June 7, 2010 a new double tax treaty. The treaty is the first DTA signed by the UAE with a Latin American country. June 2010.
Tax Updates Archive
History of Taxation
Introduction
Tax has an extremely long-established history. The ancient Egyptians appointed Tax Masters who increased the burden on the Children of Israel - slaves under Egyptian domination. As a general rule, tax is the source that is best exploited by government. It is imposed on individuals and companies to finance services that the State is obligated to provide and to meet its goals....More info
The following pages attempt to give a brief summary of the principles of double entry bookkeeping. After reading the material you will find that the "bogey" is not that bad.
The Development of Bookkeeping.
In each area of life, techniques are developed and inventions made to answer the problems that arise therein. Thus, for example, the invention of the "airplane" provided an answer to the problem of reducing travel time between distant cities. The discovery of "canned foods" on the other hand gave an answer to the need to keep food fresh for long periods. This is similar to what happened with bookkeeping, in that it answered the severe problems that arose in managing modern commerce. More info...
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