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The evaluation was conducted by the Mercer CFA institute among 48 countries. The top 5 also included Iceland, Denmark, Finland and Norway. Spain took 15th place. The Philippines, Argentina and India received the lowest index. One of the recommendations in the report was a proposal to raise the state pension age, as well as encourage personal...
Now, to provide it, it is necessary to have sufficient knowledge of the Polish language. The introduction of measures is related to abuses of the law on the Pole's Card, which grants citizenship to applicants of Polish origin upon repatriation. Many owners of the Card used forged documents to obtain it. Currently, more than 206,000 people have the Pole's Card. At the same time, according to the Center for Migration Studies, about 7,000 cards were issued to persons who did not confirm their Polish...
The presented draft financial bill for 2025 proposes to make a number of changes to the tax system. It is proposed to introduce indexation of income tax rates taking into account inflation. It is also proposed to introduce an exceptional contribution to ensure a minimum tax rate of 20%, which will be applied to taxable households whose taxable income exceeds 250,000 euros for an individual or 500,000 euros for a couple for 2024, 2025 and 2026, with a differentiated contribution in cases where the average tax rate is less than 20%. In addition, it is about introducing a temporary additional tax on corporate income tax for large companies with an annual turnover of at least 1 billion...
The new rule involves determining average daily, monthly and annual amounts of income from commercial and professional activities. If the declared amounts differ from the average amounts by more than 20%, the taxpayer is “asked” to explain the difference. This applies to both individuals and corporate...
The FAQs were updated on September 24. The update adds questions 25-43. The main question is question 25. It concerns whether the company should account for non-interest-bearing balances payable for the local file and summary information table. Non-interest-bearing balances payable are not accounted for in 2022 and 2023, but are accounted for from 2024. The other questions clarify administrative...
The country's Ministry of Finance has announced plans to increase the VAT rate on broadcasting from 10% to 14%. The changes are scheduled to be introduced on 1 January 2026. The increase follows updated budget plans for 2025. The plan includes an increase in the VAT rate on supplies currently subject to a VAT rate of 10% to 14%, with the exception of newspapers, magazines and broadcasting. In addition, there is a proposal to raise the income threshold above which individuals pay broadcasting tax from 14,000 euros to 15,150 euros from 2025. And the maximum amount of broadcasting tax could be reduced from 163 euros to 160...
Currently, Taiwan has tax treaties with 35 countries. The Ministry of Finance has issued an explanation on this matter, as it is actively working to promote further agreements. The Ministry of Finance reports that in accordance with the provisions of the income tax treaties, the taxing rights are distributed among the states that sign the agreements. The basic rule is that states provide reasonable tax incentives or exemptions from income tax. The country is trying to become attractive to foreign investors and is actively working in this...
A consultation has begun on proposed minimum tax rules for multinational enterprises. Singapore will introduce a multinational enterprise profits tax and a domestic profits tax under a tax initiative. The minimum effective tax rate will be 15% on corporate profits for financial years beginning on or after 1 January 2025. The tax will apply to multinational enterprise groups with annual group revenue of EUR 750 million or more for at least two of the four preceding financial...
The law was signed into law by the President. The law imposes a 12% VAT on all digital services consumed in the Philippines, including those provided by foreign digital service providers. The law is set to go into effect on October 18. Thereafter, implementing regulations are to be issued within 90 days, with a transition period of 120 days from the effective date of the rules and...
The country's Finance Ministry announced that amendments to the tax legislation have been posted for public consultation. These amendments include amendments to the "Corporate Income Tax Act", "Personal Income Tax Act", "Value Added Tax Act" and "Excise and Tax Warehouse Act". What amendments are we talking about? They include extending tax incentives for investments in areas with high unemployment until 2030, updating the legislation on the minimum global tax, and introducing the EU Small Business Scheme for cross-border deliveries. Comments can be submitted until 18 October...
