tax-administration
Top StoriesUK’s Truss: ‘Sorry’ for the Mistakes, but ‘I’m Sticking Around’
Top StoriesAnalysis-Despite Tax U-Turn, UK’s Hunt Still Faces Tough Budget Choices
Top StoriesNew UK Finance Minister Hunt Ditches Most of ‘mini-Budget’, Pound and Gilts Soar
Top StoriesUK Finance Minister Hunt to Make Statement at 1000 Gmt – Source
Exclusive-Indian Car Makers Propose Tax Cut on Imports in Trade Deal With Britain
Date: October 7, 2022
By Aditi Shah and Aftab Ahmed NEW DELHI (Reuters) – Indian car makers have proposed cutting to 30% the tax rate on imported cars as part of a trade deal with Britain, sources told Reuters, an unprecedented move that could ease access to one of the world’s most protected automobile markets. It is the first...
Norway Expects to Earn Record $131 Billion From Oil and Gas in 2023
Date: October 6, 2022
By Terje Solsvik and Nerijus Adomaitis OSLO (Reuters) – The Norwegian government expects record income next year from its oil and gas industry, it said on Thursday, predicting a rise of 18% from this year’s level and a fivefold increase over 2021 as production rises and prices soar. European gas prices have roughly tripled in...
German Tax Authorities Should Show Leniency to Households, Firms Amid Energy Crisis – Letter
Date: October 6, 2022
BERLIN (Reuters) – German tax authorities should show leniency towards private households and companies, for example by suspending enforcement measures in certain cases, in light of the energy crisis, said a Finance Ministry letter seen by Reuters on Thursday. Due to high energy costs, taxpayers may temporarily not be able to meet their obligations, said...
Sterling Edges Higher After British Government Tax U-Turn
Date: October 3, 2022
By Alun John and Iain Withers LONDON (Reuters) – The pound edged up on Monday on news Britain would reverse plans to cut the highest rate of income tax, one contentious part of a package of financial measures that last month sent sterling and British government bonds into meltdown. Yields on British government bonds fell,...
Factbox-The UK’s Top Tax Rate – What Is It and Why Does It Matter?
Date: October 3, 2022
LONDON (Reuters) – British finance minister Kwasi Kwarteng on Monday abruptly dropped his plan to eliminate the top rate of income tax, part of his Sept. 23 “mini budget” that triggered a rout of sterling and government bonds in financial markets. Following are some key points about the 45% tax rate. WHEN WAS IT INTRODUCED?...
Instant View: British Pound up as Govt Makes U-Turn on Tax Cut Plan
Date: October 3, 2022
LONDON (Reuters) – Britain’s pound rallied although UK stocks opened weak on Monday, after the government said it was making an about-turn on a controversial tax cut plan in its mini-budget. Finance Minister Kwasi Kwarteng said the government would not scrap the country’s top rate of income tax, as outlined a week ago. That proposal...