Media


Stuck On The Movies

Posted on June 29th, by Global Tax Weekly in Media. No Comments

This week there is a flurry of announcements of new or enhanced tax breaks for movie production, notably in China and California, which already had such incentives, and in independent Scotland, which didn’t, since it hasn’t existed since 1707, and probably never will again, although the UK does have such incentives. In fact, almost all countries, and sub-countries such as US States, have media production incentives, so one has to ask why? Even in the European Union such incentives are permitted, while many other types of tax break are frowned on or banned outright, although it’s true that the Commission normally insists on a “cultural content” test, i.e. your movie must have something Lithuanian about it, if you are shooting in Lithuania. And therein perhaps lies the explanation for the prevalence of such douceurs: they are part of nationalism, which … Read More »


Hungarian Hoopla

Posted on June 12th, by Global Tax Weekly in Media. No Comments

A tax on advertising is possibly an even more egregious offense against free trade principles than are anti-dumping duties. I thought that such dippy ideas had been junked along with Gosplan and the Marxist-Leninist Millennium, but I was wrong, because here it is, surfacing again in the EU’s equivalent of a Marx Brothers comedy, that’s to say, the Hungarian Government. They are seriously considering a tax on the revenue of media organizations of up to 40 percent. I really don’t know where to begin with this one. Presumably there is some undercurrent of moral disapprobation going on: that was certainly the case in the USSR, where advertising was seen as as a reprehensible feature of capitalism, and taxing it was therefore a virtuous expression of good Communist principles. But Hungary isn’t Communist. It teeters on the edge of becoming a … Read More »


Merry Christmas – Not!

Posted on December 26th, by Global Tax Weekly in Corporation Tax, Individual Taxation, Media. No Comments

It’s Christmas week, isn’t it, so obviously lots of governments will be making goodwill gestures to their stressed-out, over-taxed citizens, to show how grateful they are for the tax money that pays for their big, black cars, the trips to G3, G5, G8, G20, G30 junkets in beautiful places with long-legged personal assistants and the rest. Well, let’s see: Mexico is increasing the scope of VAT and has gone back on some promised tax reductions; Max Baucus wants to reduce energy tax incentives (increase taxes, in other words and am I seeing things, or does he have a double who’s going to be the Ambassador to China – that definitely proves that the President has gone off the TPP); community taxes are increasing right across Belgium; and France (that traditional home of Christmas bonhomie) is going to scale back the … Read More »





RELATED ARTICLES AND INFORMATION

OECD’s BEPS Meeting To Be Streamed Online

The OECD has revealed that it will be streaming the two-day 11th meeting of the BEPS Inclusive Framework, to be held on January 27-28,...

New French Finance Law Published

On December 30, the French Government published the 2021 Finance Law in the Official Journal.

This included numerous recently announced corporate tax reliefs, including increasing...

OECD Releases COVID-Based BEPS Report

The OECD has released new guidance for multinational groups and tax agencies on the impact of the COVID-19 pandemic on transfer pricing compliance matters.

The...