Tag #Tax Reform

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elpais.com

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Sep 25, 04:18

Colombia's 2026 Budget Approved After Political Compromise

Colombia's Congress approved a revised 2026 national budget of $546.9 trillion pesos, $10 trillion less than initially proposed, after an agreement between the government and opposition parties that averted a potential executive decree.

Colombia's 2026 Budget Approved After Political Compromise

Colombia's Congress approved a revised 2026 national budget of $546.9 trillion pesos, $10 trillion less than initially proposed, after an agreement between the government and opposition parties that averted a potential executive decree.

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What are the immediate consequences of the Colombian Congress approving a reduced national budget for 2026?

The agreement avoids the potential for the government to unilaterally determine budget allocations via decree, a measure employed in 2025 after budget failure. However, a reduced budget necessitates a smaller tax reform, now targeting a $16 trillion shortfall instead of $26 trillion.

zeit.de

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Sep 21, 16:19

German Ministers Reject SPD's Inheritance Tax Hike Proposal

German Economy Minister Katherine Reiche and Chancellor's Chief of Staff Thorsten Frei rejected calls from the SPD to increase inheritance tax, citing concerns about negative economic impacts and the need for business predictability.

German Ministers Reject SPD's Inheritance Tax Hike Proposal

German Economy Minister Katherine Reiche and Chancellor's Chief of Staff Thorsten Frei rejected calls from the SPD to increase inheritance tax, citing concerns about negative economic impacts and the need for business predictability.

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What are the main arguments against raising inheritance tax, as voiced by the CDU?

Reiche argues that tax increases harm Germany's economic competitiveness, potentially driving businesses to leave the country. Frei highlights the complexity of the issue, warning that stricter rules could force family businesses to sell, impacting jobs and expertise.

dw.com

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Sep 14, 16:18

German Inheritance Tax Loopholes Cost Billions Annually

In Germany, substantial inheritances exceeding €100 million have evaded tax in over half of 463 cases in the last decade, costing the budget €8.8 billion annually, sparking calls for reform.

German Inheritance Tax Loopholes Cost Billions Annually

In Germany, substantial inheritances exceeding €100 million have evaded tax in over half of 463 cases in the last decade, costing the budget €8.8 billion annually, sparking calls for reform.

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What is the main financial impact of the loopholes in German inheritance tax?

The German budget loses €8.8 billion annually due to tax exemptions on large inheritances, primarily benefiting businesses and farms. Over half of inheritances exceeding €100 million in the last decade avoided tax entirely.

faz.net

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Sep 13, 10:16

Germany's Ruling Coalition Considers Inheritance Tax Reform

Facing criticism over wealth inequality, Germany's governing coalition is considering changes to its inheritance tax system, with discussions focusing on eliminating loopholes rather than raising overall rates.

Germany's Ruling Coalition Considers Inheritance Tax Reform

Facing criticism over wealth inequality, Germany's governing coalition is considering changes to its inheritance tax system, with discussions focusing on eliminating loopholes rather than raising overall rates.

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What specific proposals regarding Germany's inheritance tax are currently under discussion within the ruling coalition?

The coalition is primarily focused on eliminating loopholes and unjustified exceptions within the existing inheritance tax system, aiming to address the significant tax avoidance that currently allows billions of euros to escape taxation each year. This approach is preferred over simply increasing tax rates.

kathimerini.gr

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Sep 7, 16:18

Greece Reforms Income Tax System Due to High Burden

Greece's high income tax burden, particularly for those earning over €20,000, has prompted a government reform to adjust tax brackets and family systems, aiming to reduce what are among Europe's highest taxes.

Greece Reforms Income Tax System Due to High Burden

Greece's high income tax burden, particularly for those earning over €20,000, has prompted a government reform to adjust tax brackets and family systems, aiming to reduce what are among Europe's highest taxes.

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What prompted the Greek government to reform its income tax system?

A study by PWC revealed that Greece has one of Europe's highest tax rates (employee and employer) on total labor costs and a median annual net income significantly below the EU average. This high tax burden, especially impacting those earning over €20,000, led to the reform.

kathimerini.gr

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Sep 5, 10:20

Greek Market Representatives Propose Tax Changes to Ease Burden on Middle Class

Market representatives in Greece propose new tax brackets, aiming to reduce the tax burden on the middle class, with adjustments to rental income taxation and support for small and medium-sized enterprises (SMEs).

Greek Market Representatives Propose Tax Changes to Ease Burden on Middle Class

Market representatives in Greece propose new tax brackets, aiming to reduce the tax burden on the middle class, with adjustments to rental income taxation and support for small and medium-sized enterprises (SMEs).

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How would these changes affect rental income taxation, and what is the rationale behind these proposals?

The current rental income tax rates are 15% for income up to €12,000, 35% for income up to €35,000, and 45% for higher amounts. The proposal suggests lowering the 15% rate to 5-10% for income up to €6,000 and maintaining it for income between €6,001 and €12,000, or alternatively, adding an intermediate rate between 15% and 35%. This aims to encourage accurate reporting of rental income, curb rising rental prices, and release more properties into the market.

dailymail.co.uk

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Sep 21, 16:19

UK's 60% Income Tax Trap: A Systemic Economic Issue

The UK's income tax system contains a 60% marginal tax rate triggered by the removal of personal allowances between £100,000 and £125,140, affecting 1.48 million people and hindering economic growth.

UK's 60% Income Tax Trap: A Systemic Economic Issue

The UK's income tax system contains a 60% marginal tax rate triggered by the removal of personal allowances between £100,000 and £125,140, affecting 1.48 million people and hindering economic growth.

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What is the core economic impact of the UK's 60% income tax rate?

The 60% tax rate, resulting from the loss of personal allowances, disincentivizes high earners from working more, leading to reduced economic productivity and a potential loss of tax revenue. Approximately 1.48 million people were affected, triggering actions such as reduced work hours and increased pension contributions to mitigate the tax burden.

lexpress.fr

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Sep 14, 22:18

French Prime Minister Lecornu Faces Political Opposition After Policy U-Turn

Following public rejection, French Prime Minister Sébastien Lecornu abandoned plans to abolish two public holidays, sparking immediate political backlash and social unrest while proposing a new decentralization reform and eliminating benefits for former ministers.

French Prime Minister Lecornu Faces Political Opposition After Policy U-Turn

Following public rejection, French Prime Minister Sébastien Lecornu abandoned plans to abolish two public holidays, sparking immediate political backlash and social unrest while proposing a new decentralization reform and eliminating benefits for former ministers.

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How did various political factions respond to Lecornu's proposed solutions and broader policy shift?

The PS, crucial for government survival, demanded increased taxation of the wealthy, suggesting alternatives to the Zucman tax opposed by Macron's party. The Republicans (LR) set limits on their participation, rejecting policies favoring the left, while the National Rally (RN) anticipates the government's imminent downfall and prepares for early elections.

lexpress.fr

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Sep 14, 13:17

France: Tax Withholding Update Impacts Married Couples

Starting September 2024, France changes individual income tax withholding to an individualized rate for couples filing jointly, potentially altering net income distribution, though the total tax remains unchanged.

France: Tax Withholding Update Impacts Married Couples

Starting September 2024, France changes individual income tax withholding to an individualized rate for couples filing jointly, potentially altering net income distribution, though the total tax remains unchanged.

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How will this change affect the net income of married couples, and are there any exceptions?

The change will redistribute the tax burden between spouses. For example, a couple earning €5,100 total (one spouse €3,500, the other €1,600) will see the lower-earning spouse's tax reduced from €93 to €6, while the higher earner's tax increases from €203 to €290. Couples can request a return to the average rate via impots.gouv.fr.

welt.de

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Sep 13, 07:20

Germany Debates Wealth Inequality and Inheritance Tax Reform

Amidst growing concerns over wealth disparity, leading German politicians are advocating for changes to the inheritance tax system, sparking debate about fairness and economic competitiveness.

Germany Debates Wealth Inequality and Inheritance Tax Reform

Amidst growing concerns over wealth disparity, leading German politicians are advocating for changes to the inheritance tax system, sparking debate about fairness and economic competitiveness.

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How are different political parties responding to the debate, and what are their stated justifications?

The SPD supports reforming the inheritance tax to address wealth inequality, highlighting the €400 billion annually inherited, with only a small portion taxed. Conversely, the FDP opposes changes, arguing that increasing inheritance taxes would harm competitiveness and hinder business succession. The CDU, while traditionally conservative, is showing openness to tax reform.

kathimerini.gr

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Sep 6, 07:18

Greece to Implement Family-Focused Tax Reform in 2026

The Greek government will introduce a family-focused tax reform in 2026, reducing taxes for families with children based on a points system inspired by the French model, with additional ENFIA reductions in villages under 5,000 inhabitants.

Greece to Implement Family-Focused Tax Reform in 2026

The Greek government will introduce a family-focused tax reform in 2026, reducing taxes for families with children based on a points system inspired by the French model, with additional ENFIA reductions in villages under 5,000 inhabitants.

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What are the key features of the new Greek tax reform for families?

The reform, effective January 2026, lowers income and ENFIA taxes for 1,283,223 families with children. A points system (2 per adult, 1 per child) reduces tax rates; for example, a family with two children sees a 22% rate reduced to 16%. Reductions will be reflected in monthly payroll deductions for employees and in 2027 tax returns for the self-employed.

bbc.com

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Sep 4, 04:14

TUC Urges UK Chancellor to Consider Wealth Taxes

The Trades Union Congress (TUC) is urging UK Chancellor Rachel Reeves to explore wealth taxes, including levies on financial institutions and online gambling, to fund public services, a move supported by some voters who switched from Labour to Reform UK.

TUC Urges UK Chancellor to Consider Wealth Taxes

The Trades Union Congress (TUC) is urging UK Chancellor Rachel Reeves to explore wealth taxes, including levies on financial institutions and online gambling, to fund public services, a move supported by some voters who switched from Labour to Reform UK.

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What is the TUC's central demand, and what are its justifications?

The TUC urges Chancellor Reeves to consider wealth taxes—on online gaming, gambling, windfall profits from banks, equalizing capital gains tax with income tax, and a potential wealth tax—to fund public services. They justify this by citing record bank profits (£46bn in one year) and argue for a more progressive tax system, pointing to Spain's economic growth following similar tax implementations.

Showing 1 to 12 of 200 results