Visitors to New Zealand will have to pay tourist tax from 2019

New Zealand has announced plans to introduce a tourist tax and increase other fees for international visitors to fund infrastructure development in the face of a tourist boom. Tourism numbers in the country of 4.5 million have surged by nearly a third in the past three years to 3.8 million in April this year. “This rapid growth has impacted the costs and availability of publicly-provided infrastructure,” said tourism minister Kelvin Davis. “Many regions are struggling to cope and urgently need improved infrastructure, from toilet facilities to car parks.” A tax…

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Income Tax Department Cracks Down On Cryptocurrency Traders, Again

Income tax department issued notices to thousands of cryptocurrency users HIGHLIGHTS Cryptocurrency market believes that government is going a bit too far Recently, Japan & China cracked down against cryptocurrencies South Korea is considering shutting down its virtual currency exchanges From finance ministry to Reserve Bank of India (RBI) to income tax (I-T) authorities, almost every regulator of any significance is bent upon tightening the noose on cryptocurrency users (including bitcoins, ripple, ethereum and litecoin, among others) and traders. On Friday, the income tax department issued notices to the hundreds of…

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Middle Class Can Hope For A Big Tax Relief In Budget 2018-19, Says Report

Currently, there is no income tax slab for income between Rs. 10 lakh and Rs. 20 lakh HIGHLIGHTS Government reportedly contemplating to hike personal tax exemption limit Slabs should be enhanced for benefit of low income group: industry body Move to help tide over impact of increasing retail inflation, adds CII New Delhi: The country’s middle class can hope for a big relief in Budget for financial year 2018-19, which will also be the last regular Budget of the NDA government, as the finance ministry is contemplating to hike the…

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Planning a trip to Amsterdam? A proposed tourist tax hike could make it more expensive

In an effort to attract big spenders and curb “falafel-eating” tourists, who spend most of their holiday loitering around the red-light district, Amsterdam’s city officials are considering a tourist tax hike that could make visits to the Dutch capital more expensive. Currently, visitors pay 5% of their room rate in the city centre, which is expected to rise to 6% next year. But if Alderman Udo Kock has his way, that could rise to as much as €10 per night in 2019, according to local newspaper Het Parool. Because while the…

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Everything You Wanted to Know About Goods and Service Tax

India’s economy is largely dependent on its earning population; a large percentage of the salaried people in India fall into the middle-class category. This section of the population is the one that is most affected whenever there is a change in the government policies. Right from the time when the GST was announced by the Central Government of India up until the time, it was implemented, and even after, the revolutionary financial reform bill has been discussed by everyone. There has been a lot of discussion on how the new…

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The technical side of international ed: let’s talk about tax, baby

In the world of international education, whether you’re a small business owner or the finance officer at a large organisation, the subject is made even more irksome with the added burden of navigating international sales tax. But as tax policies constantly change and international study offices are increasingly being asked to act like multinational companies, it’s important to talk about tax. Including all the good things and the bad things that may be. “New Zealand is one of very few countries in the world where tax is levied on language…

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UK pushes ahead with sugar tax

The UK government has published draft legislation for a tax on sugar-sweetened drinks, which is set to begin from April 2018. There will be two bands – one for soft drinks with more than 5g of sugar per 100ml and a higher one for drinks with more than 8g per 100ml. Ministers hope it will help tackle the nation’s obesity problem. Many companies have already begun cutting the amount of sugar in their drinks. Pure fruit juices will be exempt – but health officials stress people should limit consumption of…

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Congress Likely to Give Final OK to Local Internet Tax Ban

State and local governments would be permanently barred from taxing access to the Internet under a bipartisan compromise that Congress is a step away from sending to President Barack Obama. The Senate was expected to vote Thursday to approve the language, part of a wide-ranging measure that would also revamp trade laws. The Internet tax provision had broad support, with few senators eager to oppose the bill and open the door to taxing online access during an election year. Nonetheless, some were resisting the legislation because of trade provisions and…

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