Thursday, February 27, 2014

SOME OF THE WEIRDEST TAX LAWS ACROSS THE WORLD (General)


  1.  Hot air balloons that are tethered to the ground and stay there are taxed. Hot air balloons that are piloted "some distance downwind from the point of launching" do not have to pay the amusement tax. (United States)
  2. As part of world cup bidding, host nations have to agree to exempt F.I.F.A and its subsidiaries from paying taxes. 
  3. Compared to US, Europe is more protective of tech companies. However, due to the recent global economic crisis France has decided to impose "Google Taxes" which apply to any huge internet-based company. (France)
  4. The Tax Justice Network concluded that Switzerland was the top-most tax haven globally, due to the level of confidentiality in revealing individuals' bank operations. The reason is that they have a law that was passed in 1934 making it a criminal offence to reveal identities of clients in banking. (Switzerland)
  5. In Ireland,  artists are exempted from tax. This is in line with promoting composers, writers, sculptors, and visual artists. However, artists are obliged to file claims with Commissioners of Revenue to determine cultural merit, originality and creativity. (Ireland)
Source
http://www.cnbc.com/id/101418394

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