taxes

Georgia to write off property taxes for tourism sector

Georgia to write off property taxes for tourism sector

The Georgian Government has decided to write off the property taxes from the country’s tourism sector businesses, Prime Minister Irakli Garibashvili revealed on Monday.  The Government head noted the decision followed studies …

Will luxury lovers have to pay more in Kazakhstan?

Will luxury lovers have to pay more in Kazakhstan?

A luxury tax may be imposed in Kazakhstan, the press service of the country's Ministry of Finance reported. It says that the Ministry of National Economy will consider such a possibility. The tax implies increased …

Kazakhstan introduces tax on Google

Kazakhstan introduces tax on Google

Today, a new tax on Google was introduced in Kazakhstan - all foreign companies selling their goods and services via the Internet are obliged to pay VAT on sales to the budget of the Republic of Kazakhstan. For each product or service …

Maldives to add departure tax In January 2022

Maldives to add departure tax In January 2022

Maldives President Ibrahim Mohamed Solih ratified a new amendment to the country's Airport Taxes and Fees Act, which introduced a departure tax for any traveler leaving the Maldives beginning on Jan. 1, 2022. The departure tax is …

Vegetable oil to become cheaper in Uzbekistan

Vegetable oil to become cheaper in Uzbekistan

Uzbek MP Rasul Kusherbayev said today that from May 1, the import of vegetable oil will be exempted from VAT in Uzbekistan, while the export of vegetable oil will be limited. According to Kusherbayev, these measures are aimed at …

Biden eyeing capital gains tax as high as 43.4% for wealthy

Biden eyeing capital gains tax as high as 43.4% for wealthy

U.S. President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6% to help pay for a raft of social spending that addresses long-standing inequality, according to people familiar with the …

Russia's State Duma proposes to abolish VAT

Russia's State Duma proposes to abolish VAT

The value added tax (VAT) should be abolished in Russia, first deputy chairman of the State Duma Commission on Small and Medium-Sized Businesses Nikolai Arefiev said in an interview with the Rossiya-1 television channel. "I …

Russia's Tax Service gains expanded access to banking secrecy

Russia's Tax Service gains expanded access to banking secrecy

The Russian tax authorities will have expanded access to banking secrecy from March 17. Banks will have to provide copies of customer passports, copies of powers of attorney for the disposal of funds, copies of an agreement for opening …

Tajikistan introduces military service exemption tax

Tajikistan introduces military service exemption tax

Young men in Tajikistan who wish to forgo the dreaded experience of military service may now do so by paying a fee to the government. This opt-out provision came into effect on February 4 under changes to legislation regulating conscription, Eurasianet writes in the article Tajikistan: Military service exemption tax comes into effect. A representative at the Defense Ministry told Eurasianet that the size of the fee is not yet known and will later be calculated by the government

Russia introduces tax for rich

Russia introduces tax for rich

The law on increasing the personal income tax rate (PIT) from 13% to 15% on income exceeding five million rubles a year was introduced in Russia. Simultaneously, the tax rate of 13% will remain for individuals' income from the sale …

Income tax increased for high-earning Russian citizens

Income tax increased for high-earning Russian citizens

 Russian President Vladimir Putin endorsed a law to raise personal income tax from 13% to 15% for people with annual incomes exceeding 5 mln rubles ($72,825) per year. The document was published on Monday on the official web portal …

Russian MP offers to cut transport tax 25%

Russian MP offers to cut transport tax 25%

Russia's State Duma deputy Vasily Vlasov offered to cut the transport tax by 25% in 2020 for the Russians who live in the provinces where an alert regime was introduced due to the coronavirus. "I am asking you to assess …

U.S.: Oleg Tinkov may face up to 6 years in prison

U.S.: Oleg Tinkov may face up to 6 years in prison

The U.S. Department of Justice said that Russian businessman Oleg Tinkov has been charged with filing false tax returns. If convicted, Tinkov faces a maximum of 6 years in prison and monetary penalties on two …