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HANOI – Despite efforts by the government of Vietnam to stop corruption, a significant portion of businesses claim that they still have to pay bribes to tax inspectors.
Nearly a third of businesses in Vietnam have been asked by tax inspectors and other tax workers to pay bribes, according to the results of new research released by the Vietnam Chamber of Commerce and Industry (VCCI).

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BUCHAREST – Pop stars and personal money lenders in Romania will soon be subject to intense scrutiny by tax authorities, as greater efforts are made to stamp out tax evasion.

In a statement made on August 6th the head of the National Fiscal Administration Agency Gelu Stefan said that the national tax authority would soon be conducting extra investigations on the tax affairs of hundreds of thousands of individual taxpayers in an effort to catch out rampart tax evaders.

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LONDON – The efforts of the UK governmetn to clamp down on welfare for migrants may lead to restrictions on tax breaks for young people in the UK.

According to new information made public in a leaked document earlier this week, the government of the UK may consider dropping the eligibility of all taxpayers under the age of 22 from receiving social welfare.

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CANBERRA – The power generation sector in Australia has been releasing tonnes more pollutants into the air since the government dropped a tax on such emissions.
In a statement issued over the weekend the Australian-based non-profit group the Climate Council claimed that there has been a marked rise in the amount of emissions produced by the electricity sector since the recent scrapping of the national carbon tax.
Over the year ending in April 2015 the level of carbon emissions from electricity producers in Australia was 4.3 percent higher than the level seen over the course of the year ending in June 2014.
The rise was attributed to the fact that in July 2014 the national tax on carbon emissions was repealed.
It was noted that during the two years that the tax was active, the level of emissions from electricity generation dropped by 11 percent, however, the current increase has make a significant dent in this progress.
According to the consultancy firm which conducted the research into emissions levels, Pitt & Sherry, a significant portion of the increase in emissions can be attributed to a rise in the demand for electricity and the increasing use of brown-coal power generators throughout Australia


Dropping Carbon Tax Leads to More Emissions

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WASHINGTON D.C. – The UAE should implement a VAT, excise tax on vehicles and corporate taxes in order to reduce its reliance on oil.
In a new statement issued on August 4th the International Monetary Fund called on the United Arab Emirates to implement new tax measures in order to create extra buffers against the volatility of oil prices.
The main tax issues recommended were a 5 percent Value Added Tax and a 15 percent excise duties on passenger vehicles.
It was also suggested the UAE should implement taxes on businesses, especially corporate income tax, as currently only foreign banks are obligated to pay an income tax, while other business face only a small number of municipal taxes.
According to the IMF, the UAE already has some protection from fluctuations in oil prices due to previous efforts to diversify its income sources, but further taxes which do not rely on oil would serve to improve the UAE’s position even further.
It was also noted that as the government already collects high revenues from oil, it now has a perfect base upon which to build a low-rate wide-base tax policy.


Dubai Needs to Extend Taxation