pensions


By George!

Posted on March 23rd, by Global Tax Weekly in Budgets, Individual Taxation, pensions, Travel. No Comments

By George! The UK’s Chancellor (Finance Minister) seems to have brought off the impossible by announcing a budget which everyone agrees with. Of course the Opposition (its duty is to oppose, as they always say) sent up some ritual distress flares, but they illuminated more of Labour’s distress than Osborne’s. Different commentators had different takes on the cleverness of the Budget, from very clever to surpassingly clever; but no-one called it stupid. Everyone realizes that it is an electoral Budget; that is hardly worth saying. What is perhaps worth observing is that there is no doctrine in the Treasury at present; there is just a cold calculation of how to retain and increase political power. Like it or not, this is the most impressive governing engine that has been seen in Whitehall for decades. And in fact there is quite … Read More »


Live Longer: Pay More

Posted on February 12th, by Global Tax Weekly in Individual Taxation, pensions. No Comments

Germany is in the grips of its economically destructive Grand Coalition agreement, which we have previously had cause to criticize, and which will prevent any business-friendly tax measures from being implemented for as long as it lasts, so we should at least give a subdued cheer for Finance Minister Schäuble’s determination to press ahead with an increase in the pension age, although the increase, from the current 65 (as almost everywhere) to 67 by (wait for it) 2029, is underwhelming. Life expectancy in Germany has risen by 10 years in the last 50 years to 80 years at present: that may not sound very much, but consider that post-retirement lifespan has therefore gone up from 5 years to 15, on average, while the retirement age has not changed. No wonder that the pension system is in a mess. By 2029, … 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...