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  • [New] Inflation reached a two-decade high in October, up to 6.8%, and monetary policymakers in Poland say the new tax cuts might allow them to keep the benchmark interest rate from rising too high. Politico
  • [New] New York has some of the highest tax rates in the United States, and they are projected to rise even higher under the latest version of President Joe Biden's Build Back Better plan. Insider
  • [New] Indonesia will start charging a carbon tax of 30,000 rupiah per tonne of CO2 equivalent next April, levied on coal-fired power plant operators with emissions above a set limit. Reuters
  • [New] October meetings of the G20 and OECD saw broad international agreement reached on new global tax rules that will see multinational corporations pay at least 15% of their revenue as tax in each nation where they do business. The Register
  • [New] Capital gains on expensive condominiums might be a good revenue target, especially if Singapore's 7% goods and services tax (GST) goes up to 9% by next July, as some economists expect. Mint
  • [New] The expanded Child Tax Credit is projected to reduce childhood poverty in the United States between 40% and 45%, with poverty rates falling particularly rapidly for Black and Hispanic children. Equitable Growth
  • [New] The U.S. government or states could offer tax credits to local nonprofits that want to buy newspapers. Washington Monthly
  • [New] Micron Technology, based in Boise, Idaho, said it will invest $150 billion globally over the next decade in developing its line of memory chips, with a potential U.S. manufacturing expansion if tax credits can help make up for the higher costs of American manufacturing. AP News
  • [New] Legislation is to be introduced setting out the criteria for determining the location of risk for insurance premium tax to provide clarity and ensure that risks located outside the UK remain exempt from insurance premium tax in the UK. Tolley
  • [New] South-East Asia's largest economy will start charging a carbon tax next April, levied against coal-fired power plant operators with carbon emission levels above a government-set limit. The Star
  • [New] Increasing the corporate tax rate will make the United States a less competitive place to do business. National Development
  • [New] Multipliers have a more significant effect on the tax revenue, increasing revenue to about €13 billion in 2050 under the flat rate tax with a 7.5 premium multiplier. Europa
  • [New] In terms of tax revenue, the existing national ticket taxes contribute €2.6 billion of revenue from intra-EEA flights in 2025; under the €0.33 per litre option, the tax on fuel contributes about €6.7 billion per annum in 2050. Europa
  • [New] Florida does not have a throwback rule in its corporate income tax, but throwback rules provide a good example of what it could look like to cover transition costs. Tax Foundation
  • [New] The rate of tax will be £200 / tonne on plastic packaging that contains less than 30% recycled plastic, and which is manufactured or imported into the UK (including packaging on finished goods which are imported). Grant Thornton UK LLP
  • [New] 60.6% of Americans did not pay income taxes in 2020 and an estimated 57% of working Americans still will not pay income taxes in 2021. Financial Samurai
  • [New] Addressing the imbalances in how the digital economy is taxed, and increasing revenues in American and European tax coffers, will not remedy the gross structural imbalances in the global tax system that hamper the ability of African states to collect tax revenue. Ethics & International Affairs
  • [New] The recent VRP hackathon demonstrated new and innovative ways Open Banking payments could be used to make it easier to pay tax, make gaming payments, access cash and shop online. FStech
  • [New] Because Democrats are leaving many of former President Donald Trump's tax cuts intact, a more generous SALT deduction could mean that many high earners could end up paying less in income taxes under Biden than they did during the Trump era. Accounting Today
  • [New] The oil and gas sector can expect a higher tax compliance burden in the long-term because carbon taxes will spring up in more countries following the UN's 26th Climate Conference. International Tax Review

Last updated: 05 December 2021