Tax

Canada

British Columbia launches a new employer health tax

On 1 January 2019, the government of British Columbia (BC) launched a new Employer Health Tax (EHT) to shift the health care system financial burden from employees to employers. The EHT is a tax levied on an annual payroll for […]

India

India further increases the standard deduction

The Indian government passed the 2019 interim tax budget, which increased the standard deduction limit from INR 40,000 to INR 50,000. The change took effect on 1 April 2019. The standard deduction was initially introduced in the 2018 tax budget […]

New Zealand

New Zealand amends the KiwiSaver regime

The government of New Zealand introduced a tax omnibus bill that amends several tax acts to include some minor changes to the KiwiSaver regime. The changes aim to improve and modernize the administration of the tax system. The Taxation Bill […]

China to levy social insurance taxes

Starting 1 January 2019, social security contributions will be levied by the tax authorities rather than social insurance administrative authorities. This change is part of the government’s ongoing efforts to increase compliance with social insurance contribution requirements while standardizing, and in […]

Bahrain publishes value-added tax law

On 9 October 2018, the government of the Kingdom of Bahrain published the Value-Added Tax (VAT) Decree, Law No. 48, implementing VAT on 1 January 2019, for businesses with annual turnover above BHD 37,700 (USD 100,000). Implementing regulations are expected […]

Hungary

Hungary reduces tax advantages for many benefits in kind

Hungary will reduce or eliminate the tax advantages for many fringe benefits beginning 1 January 2019. This is a significant development as employee benefits in Hungary have historically been structured as cafeteria-style programs because of the tax favorability of such […]

France

France to implement pay-as-you-earn income tax withholding

After some delay, the French government will require employers to withhold income tax from employees’ earnings on a pay-as-you-earn basis starting 1 January 2019. This will be a significant change for both employers and employees, as income tax is currently […]

Bahamas increases value-added tax

The rate of Value Added Tax (VAT) was increased from 7.5 percent to 12 percent on 1 July 2018. The new rate applies to all policies going into effect on or after 1 July 2018. Medical insurance premiums are subject […]