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Authorities respond to tax concerns

Departments and ministries under the State Council, China's Cabinet, responded to a series of public concerns in the past week, mainly concerning the corporate tax burden and prevention of urban flooding.

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Are firms in China paying very high rate of tax?

A couple of weeks ago, Chinese auto-glass tycoon Cao Dewang sparked a heated discussion across China. Cao said his recent $600 million investment to establish a manufacturing branch in the United States for his company, Fuyao Glass Industry Group, was driven largely by China's high taxes, which he claimed are 35 percent higher for manufacturers in China than in the US.

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Higher taxes hit only 1.5% of firms

Only 1.5 percent of millions of corporate taxpayers face a higher tax burden after implementing value-added tax reform, senior officials with the nation's top taxation bureau said on Tuesday.

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India's crackdown on cash imperils pivotal national tax reform

​Indian Prime Minister Narendra Modi's crackdown on the cash economy has shattered the consensus needed for a new national sales tax, plunging his boldest reform into limbo and threatening to entrench an economic slowdown.

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Britain's financial services sector makes highest recorded tax contribution: report

New figures published by City of London Corporation Tuesday shows the total tax contribution from Britain's financial services sector reached 71.4 billion pounds (90.54 billion U.S. dollars) in the year to March 31, 2016.

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Australian lawmakers approve backpackers tax for working travelers to the country

​People who travel to the country and opt for seasonal, temporary or migrant work will be taxed at a 15 percent rate, settling an 18-month debate.

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Ireland to formally submit appeal on Apple case this week

Ireland's government will this week formally submit its appeal against the European Commission's multi-billion-euro demand for back taxes from Apple, Finance Minister Michael Noonan said on Tuesday.

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Australia's planned "backpacker tax" lowered to 19 pct following industry pressure

​The Australian government has bowed to industry pressure for it to set a lower "backpacker tax," after widespread complaints that a proposed 32.5 percent rate would only send backpackers out of Australia to other nations such as New Zealand.

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OECD official says EU Apple ruling not precedent for future tax cases

A multi-billion euro back tax bill handed to Apple by the European Commission should not be seen as a precedent for future tax cases as it was based on state aid rather than tax law, the OECD official spearheading global tax reform said on Monday.

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France asks Switzerland to hand over 45,000 UBS accounts: report

French tax authorities have asked Switzerland to hand over client information for some 45,000 bank accounts as part of a probe into alleged tax fraud, Le Parisien daily said Monday.

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Google may face Indonesia tax bill of over $400 million for 2015 - government official

Indonesia plans to pursue Alphabet Inc's (GOOGL.O) Google for five years of back taxes, and the search giant could face a bill of more than $400 million for 2015 alone if it is found to have avoided payments, a senior tax official said.

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Indonesia faces tax collection problem against internet-based firms like Google

Indonesia has been making efforts to collect tax from internet-based firms which have reaped huge amount of advertisement funds from their online operation in the country following rejection of the United States-based searching engine giant Google from being examined by Indonesian tax office.

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EU's Vestager warns others, says Apple could cut bill

Other multinationals that do not employ as extreme Irish tax schemes as Apple Inc but shift profits via the country to tax havens could also be breaching EU rules, Competition Commissioner Margrethe Vestager said on Thursday.

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Apple case highlights huge untaxed profits of corporate giants

The huge back-tax bill European authorities slapped on Apple has put a spotlight on $2.4 trillion in untaxed earnings parked offshore by US companies, a tempting target for governments seeking to strengthen their finances.

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Apple faces huge Irish tax payout in EU case

The European Union is expected to order Apple on Tuesday to pay billions of euros in back taxes in Ireland in one of its largest such cases after ruling that sweetheart tax deals for the US tech giant were illegal.

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Modi vows to ease tax woes of middle class

Prime Minister Narendra Modi on Monday promised to ease the rules for middle-class taxpayers, while taking credit for this government removing various hurdles such as those related to refunds.

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Trump outlines economic plan to reboot campaign amid protests

U.S. Republican presidential nominee Donald Trump on Monday outlined the details of what he called "America First" economic plan to rebuild momentum of his campaign, as protesters repeatedly interrupted him.