taxes

Georgian Finance Ministry conducts tax amnesty

Georgian Finance Ministry conducts tax amnesty

The Revenue Service of Georgia announced over ₾423 million ($155.51mln) had been written off for more than 65,000 individuals as part of the Government’s tax amnesty initiative. The body added that any “coercive …

Tax debts incurred before 2021 to be written off in Georgia

Tax debts incurred before 2021 to be written off in Georgia

Georgian Prime Minister Irakli Kobakhidze said 145,000 individuals would have their tax debts totalling 590 million lari ($218.55mln) “completely written off”. According to him, all private entities, including individual …

Kazakhstan proposes excise taxes on sugary drinks

Kazakhstan proposes excise taxes on sugary drinks

Kazakh Minister of Health Akmaral Alnazarova suggested that levying excise taxes on sugar-sweetened non-alcoholic beverages could reduce their consumption among children, thus lowering the risk of obesity. According to Chief Sanitary …

EU includes Russia into tax haven blacklist

EU includes Russia into tax haven blacklist

The European Union has included Russia into the list of countries viewed as tax havens, the EU Council said in its statement released on Tuesday. "The EU continues to promote fair tax competition and address harmful tax practices. …

Income tax for LNG exporters grows to 34% in 2023-2025

Income tax for LNG exporters grows to 34% in 2023-2025

Russian President Vladimir Putin signed the law increasing the income tax rate from 20% to 34% for liquefied natural gas (LNG) exporters in 2023-2025. The document was initiated by the Russian Government and introduces amendments into …

Bloomberg explains why Russia’s budget remains in surplus

Bloomberg explains why Russia’s budget remains in surplus

The growth in tax revenues from the Russian state energy company Gazprom allowed the federal budget to maintain a surplus in October, Bloomberg reports. According to the Ministry of Finance of the Russian Federation, the budget surplus …

Egypt to introduce tax-free scheme for tourists

Egypt to introduce tax-free scheme for tourists

In Egypt, VAT refunds to tourists are to be carried out according to the standard international scheme, and the launch of the new tax-free system is planned to be accelerated. The facilities, where tourists will be refunded before …

Germany to lower sales tax on gas to 7%

Germany to lower sales tax on gas to 7%

Germany will lower the sales tax on gas to 7% in an effort to cushion the blow of additional charges being placed on consumers to ensure energy companies can afford increasingly expensive supplies, said Chancellor Olaf Scholz on Thursday. …

New hotels in Russia to be exempt from VAT for five years

New hotels in Russia to be exempt from VAT for five years

According to the decree of Prime Minister Mikhail Mishustin, the rules for maintaining a register of tourism industry facilities have been approved, and hotels that have been operating since the beginning of this year are exempt from value-added …

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 …