News Archive: tax

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28, 2011 July:

Brazilian Real slides as government taxes currency derivatives

Brazil’s real declined by the most in more than a month after the government said it will levy a tax on some investments in foreign-exchange derivatives, the latest step in a bid to stem the currency’s rally.

26, 2011 July:

Brit expats to benefit from new tax reforms

New UK treasury reforms could see retirees who live and own property abroad able to spend up to a third of their time back home each year without paying any tax.

25, 2011 July:

The true cost of real estate

Property costs in Ecuador are a fraction of those of a similar quality in the US because of the practically non-existent home taxes, says Pathfinder International's Ronan McMahon.

08, 2011 July:

Israeli real estate taxes among world's lowest

Accounting firm Baker Tilly finds that Israelis pay less taxes on real estate deals compared with other countries.

05, 2011 July:

Britons inject 5.8 billion pounds in housing equity in Q1

Britons injected 5.832 billion pounds of equity into their homes in the first three months of this year, the smallest injection in a year, Bank of England data showed on Monday.

28, 2011 June:

Guilty of tax evasion unless you prove otherwise

The Land Registry is effectively finding you guilty of tax evasion and defrauding the state of much-needed tax revenues if it inflates the amount you have paid for your property when calculating your property transfer fees.

Market watch: Tax dodging is not just for the mega-rich...

Last week I met IT entrepreneur Kate Craig-Wood, who is about to buy a £710,000 four-bedroom house in Guildford when she casually mentioned that financial advisers had proposed a stamp-duty avoidance scheme for the purchase to save her £14,000.

24, 2011 June:

No decision on proposals to hike Cyprus property tax

Although President Christofias has won support to impose a tax of €1,000 a year on profitable companies, no decision has been reached on plans to increase the tax on property.

20, 2011 June:

Sarkozy drops planned French second home tax

Overseas investors owning a holiday home in France can breathe a sigh of relief, as the French president has dropped his unpopular plan to hit foreign property owners with a third tax on their homes.

14, 2011 June:

Caribbean Islands Pleased About UK APD Tax Decision

The Caribbean Tourism Organisation is currently celebrating upon hearing the news the UK government has announced which stated that their new budget will place a freeze on APD charges that were previously resulting in higher aviation taxes for travellers to the tropical islands.

09, 2011 June:

Tax increases create property bargains in Greece

With the Greek government inputting a severe austerity package including large tax increases, many locals are putting their vacation homes on the market. The result? Property bargains for foreign investors in some of Europe's most popular holiday destinations, reports the New York Times.

Urban development in Cape Town offers buyer tax incentives

Property buyers interested in real estate in Cape Town can benefit from a number of incentives including tax advantages in the city’s Urban Development Zone, it is claimed.

07, 2011 June:

Proposed new French property tax not as expensive as some fear

The proposed new property tax for holiday homeowners in France may hit the rich but others may not feel the effect quite so much, according to French property experts.

03, 2011 June:

Egypt plans new 10 per cent capital gains tax

Egypt will levy a new capital gains tax on the rich and financial companies, the government said in a statement, to finance a budget that will hike subsidies to help the poor after months of political turmoil.

02, 2011 June:

Property taxes? Defer them

Stop paying your property taxes if you’re short of cash. That advice may sound a little extreme but that’s exactly what Vancouver-based certified financial planner Clay Gillespie is telling some of his clients.

01, 2011 June:

Rich tax advantages for French property buyers

Despite the recent introduction of the 20% tax on second homes in France, those property owners who decide to live and work in the country can still benefit from a world of tax advantages, as a recent investigation from the Daily Telegraph concludes.

25, 2011 May:

NY State heading for cap on property taxes?

The odds of a mandatory ceiling on property-tax increases improved significantly after the Assembly unveiled legislation Tuesday morning that was endorsed in short order by Gov. Andrew M. Cuomo.

24, 2011 May:

Britons with homes in France face higher taxes

Around 200,000 Britons who have holiday homes in France could be charged a new tax, adding thousands to their bills.

19, 2011 May:

Leaseback purchasers could avoid new French property tax

The French government is seeking to impose a new 20% tax on non-resident second home owners, but buyers of properties under the leaseback scheme will be able to avoid it, according to legal experts.

12, 2011 May:

France to slap tax on foreign-owned second homes

PARIS : France is to hit non-resident owners of 360,000 second homes - many of them British or Dutch - with a new tax equal to 20 percent of the properties' rental value, under a draft law unveiled on Wednesday.

09, 2011 May:

Bahrain developers might face new tax

Bahrain is considering collecting up to 3% of the value of investments by real estate firms to fund community projects.

26, 2011 April:

“Super-reduced” VAT rate planned for Spanish tourism sector

The Spanish People's Party (PP) is to promote a “super reduced” VAT rate (IVA in Spanish) for the tourism sector, which is expected to benefit such services as accommodation, catering and public transport and aim to bring them in line with their European competitors.

French government raises threshold for wealth tax

Earlier this week, French minister Francois Baron said that the French government aims to raise the threshold for households that have to pay wealth tax (ISF).

06, 2011 April:

Monaco the world's most expensive luxury home market

Monaco was the world’s most expensive luxury residential market for the third straight year in 2010 because of demand from wealthy buyers in the Mediterranean principality, which levies no personal income tax. Article by Max Bielby Share your view. A recent report conducted by the Association of Real Estate Investment Companies or GYODER found that Turkey’s real estate sector has exceeded all expectations, rapidly expanding last year.

10, 2011 January:

Spanish property prices to fall again

Tax changes will see a further decline in property prices in Spain, according to the country's Central Bank.

17, 2010 December:

'Bombsite Britain' tax hike will harm recovery

The property industry has warned that government plans to levy an extra £400m a year on small businesses and struggling landlords risk harming its aim of a private sector led recovery...

Scottish borders debate council tax freeze

Councillors in the Borders are meeting to decide whether to sign up to a Scottish government deal which would see council tax frozen...

15, 2010 December:

Empty rate tax change angers industry

The property industry has accused the Government of a "damaging and retrograde step" after it was announced small properties will no longer be exempt from empty rates...

12, 2010 December:

Irish stamp duty falls but FTBs hit

A letter signed by 50 state-appointed rabbis telling Jews not to rent or sell property to non-Jews prompted widespread condemnation from Israeli Prime Minister Benjamin Netanyahu and human rights groups...

10, 2010 December:

Heathrow accused of 'exploiting' travellers

Heathrow airport has been accused of 'exploiting' travellers over its plans to raise its domestic passenger charge by up to £7...

08, 2010 December:

Council tax bands to be reassessed?

Residents on a street in Oxford could be facing a change in their council tax after one of them discovered she was paying more than her neighbour...

07, 2010 December:

Eternal City rolls out hotel tax for tourists

Tourists staying overnight in Rome will be charged an accommodation tax from 1 January next year, officials have confirmed...

05, 2010 December:

Ford vows to freeze Toronto's property taxes

Rob Ford promised to freeze Toronto's property taxes next year, an announcement that came on his first day as mayor...

21, 2010 November:

Pensioners 'keep mortgages to avoid IHT'

Wealthy pensioners are purposefully avoiding paying off their mortgages in an attempt to beat inheritance tax, lawyers have claimed...

15, 2010 November:

VAT rise 'unlikely to affect housing market further'

Although the planned VAT rise is an unwelcomed additional cost to the price of both buying and selling a property, Douglas Sleaper, Group Sales Director for Townends Estate Agents part of the Badger Holdings Group believes the two and half per cent increase will not be significant enough to unduly upset the housing market or deter those wishing to move from doing so...

14, 2010 November:

HK, France tax treaty to increase investment

A long awaited double taxation treaty between Hong Kong and France has been welcomed by French property agencies, as it makes the purchase of French real estate easier for expats based in Hong Kong....

12, 2010 November:

Stamp duty increasing year on year

Analysis of Treasury data by home improvement company Everest reveals that for the 12 months to 31 March 2010, the average amount of money paid in stamp duty on a home sold was £3,770.44 - £83.87 (2.28%) more than the equivalent figure for the earlier 12 month period (£3,686.57)...

10, 2010 November:

VAT increase will damage the Green Deal

The increase in the rate of VAT to 20 per cent next January will cost the very jobs required to deliver the Green Deal...

03, 2010 November:

Virgin slams UK's new departure tax

Virgin Atlantic has blasted the rise in Britain's airport departure tax being introduced on Monday, warning that many families would be priced out of a holiday...

22, 2010 October:

Venice plans to charge tourist tax

First it was controversial advertising billboards on the Bridge of Sighs and now Venice is drawing up plans to tax visitors in an attempt to raise revenue for the city...

24, 2010 September:

China gearing up for property tax measures

China is getting ready to introduce property tax measures to cool its real estate market and they could come as early as next month, it is claimed...

10, 2010 September:

Entry fee for travellers to US

Travellers from countries which do not require visas for the United States - such as Australia, New Zealand, Britain, France and South Korea - must pay a $US14 tax which started this week...

19, 2010 August:

Tax on Rome demonstrations proposed

The Mayor of Rome, Gianni Alemanno, wants to impose a tax on demonstrations and processions which take place in the capital...

11, 2010 August:

Tax rule changes to apply to overseas holiday homes

Proposals announced by the Government last week, on changes to the tax rules on furnished holiday lets (FHL) will also apply to the owners of properties in the European Economic Area if they are UK tax payers, warns accountants James Cowper...

04, 2010 August:

Second home owners to lose tax breaks

Tens of thousands of second home owners stand to lose generous tax breaks on furnished holiday lets...

02, 2010 August:

Most agree with airline 'fat tax'

Economy class seats are already cramped enough and overweight passengers should be forced to pay more if they need extra space. That is the sentiment shared by more than 70 per cent of holidaymakers, according to a new survey...

30, 2010 July:

China to roll out property tax

A property tax trial is expected to be introduced in parts of China in 2012 with Shanghai likely to be the first city to introduce the new levy. If it is successful it could be introduced across the country, it is claimed...

28, 2010 July:

Bin taxes confined to scrapheap

Immediate action to scrap laws introduced by the previous government to tax homeowners for bin collections has been confirmed by the Communities Secretary Eric Pickles and Environment Secretary Caroline Spelman...

23, 2010 July:

Holiday home tax window to end?

The Chancellor's announcement in the Emergency Budget to keep the tax breaks for holiday homes was a boost for their owners and the leisure industry in general, as the Furnished Holiday Lettings tax regime had been due for abolition from April 2010...