Recession


Canada Seems To Have All The Answers

Posted on February 9th, by Global Tax Weekly in Oil and Gas, Recession. No Comments

It has been well documented how Canada was the only one of the major industrialized countries which didn’t suffer a banking crisis. In fact, the British were so impressed at the way things were run there that they head-hunted Canada’s top central banker, Mark Carney, and put him in charge of the Bank of England. While the recession which followed the financial crisis didn’t leave Canada unblemished, and much was spent in stimulating the economy, requiring the federal Government to run a deficit, Canada still managed to cut its corporate tax to the lowest level in the G8. Now it expects to achieve a balanced budget in 2015/16, having recorded a budget surplus in November 2014. There is one worry for the Government though: oil. Canada is a major producer of oil and natural gas, and like any other nation, … Read More »





RELATED ARTICLES AND INFORMATION

UK To Require Digital VAT Filing

In the UK, HM Revenue and Customs has called on UK VAT-registered businesses to sign up for Making Tax Digital (MTD) for VAT before...

Bahamas Announce VAT Cut

In the Bahamas, the VAT rate cut from 12 percent to 10 percent was implemented as of January 1, with the Government issuing guidance...

Latvia Plans Tax Relief For Self-Employed

Latvia has received approval from the European Commission to offer tax relief to companies and self-employed persons, in response to the COVID-19 pandemic.

The scheme...