Tax

Tobacco Tax U-Turn Burns $7 Billion Hole In ITC's Market Cap

ITC Ltd., Asia’s second-largest cigarette maker by value, plunged the most in 25 years after India surprised investors by raising levies on tobacco p...

Tea Tax To Stand At 5% As India Clinches GST Rates

Tea will be taxed at 5 percent and chewing tobacco will face a 160 percent levy after India finalized most rates for a new goods and services tax, clearing...

Portuguese Wine Sector Opposes New Tax

Portugal’s National Association of Producers of Wine with Designated Origin (ANDOVI) has criticized a possible increase in the tax on wine in the cou...

New Tax Forcing Foreign Retailers To Reconsider Expansion In Poland

Multinational retailers in Poland may be forced to cut expansion plans in the country as a new levy aimed at helping domestic businesses is likely to affec...

New Tax To Hit Bosnian Soft Drinks And Water Producers

The Association of Soft Drink and Water Producers of Bosnia and Herzegovina has expressed concern over new draft legislation on amendments to the Law on Ex...

Belgium’s $762 Million Tax Loophole Shut In EU Payback Order

The European Union ordered Belgium to recover about €700 million ($762 million) in illegal tax breaks given to at least 35 companies, including A...

UK Reduces Duty On Most Alcohol

The UK's Chancellor of the Exchequer, George Osbourne, yesterday cut taxes most alcoholic drinks in his sixth and final Budget before the UK Gene...

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