South Korea’s tax authorities have been investigating the local importer of Toyota and luxury Lexus vehicles over suspected tax evasions since late 2016, industry sources said Friday. In November, the Seoul office of the National Tax Service (NTS) launched a tax audit into Toyota Korea over suspicions that it paid… – Continue reading
x The Kenya Revenue Authority (KRA) has slapped higher taxes on importers of second-hand vehicles ahead of a new duty that will push the prices up by Sh200,000. The revenue authority reviewed the current retail selling price of second-hand vehicles in October 15. This is the benchmark the taxman uses… – Continue reading
BEIJING/SHANGHAI (Reuters) – China has halved sales tax on small cars to revive growth in the world’s biggest automobile market, a move likely to provide a limited boost to carmakers including Volkswagen AG (VOWG_p.DE), the company embroiled in a global diesel emissions scandal. The cut in sales tax on cars… – Continue reading
Documents filed in the Federal Court on an unrelated matter have highlighted how little profit Jeep has made despite turning over almost $5 billion in six years. US car giant Jeep and its associated brands may not be paying enough tax in Australia, a document filed in the Federal Court… – Continue reading
If former Fiat Chrysler Australia boss Clyde Campbell goes down over allegations he misused tens of millions dollars of company money, he might just threaten to take the entire Australian operation of the global automaker and several executives with him. Mr Campbell on Wednesday opened the door for a tax… – Continue reading
The Luxury Car Tax (LCT) is “absolutely an unfair tax”, says Audi general manager of corporate communications Anna Burgdorf. The LCT, which was implemented in Australia on July 1, 2000, was designed to protect the local car industry and slug buyers of ‘luxury cars’ with a 25.0 per cent tax… – Continue reading
Introduction Soft commodity prices, divergent monetary policies across major economies, high unemployment rates and weak world trade have all conspired to slow down global economic recovery over the past seven years. Consequently, governments have had to cut spending as future revenues remain uncertain. This has led governments to look for… – Continue reading
TOKYO: Japan companies have pressure to use their near-record cash stockpiles to help drive growth, with Finance Minister Taro Aso saying Thursday the government should consider a tax to prod businesses into action. “Japan should carefully consider issues like this,” Aso said in Parliament in response to a question from… – Continue reading
(Bloomberg) — Japan is stepping up pressure on companies to use their near-record cash stockpiles to help drive growth, with Finance Minister Taro Aso saying Thursday the government should consider a tax to prod businesses into action. “Japan should carefully consider issues like this,” Aso said in Parliament in response… – Continue reading
Mitsui, Toyota and Marubeni are likely to be among Japanese companies that would sign the first set of bilateral advance-pricing agreements (APA) with India shortly. These agreements will provide certainty to Japanese multinational firms operating in India and avoid conflicts over sharing of taxes between India and that country. Two… – Continue reading
