TAX NEWS - January 2010
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World Tax rate changes - 2010
Rate changes in effect 1 January 2010
Jurisdiction Rate type Rate change
Azerbaijan CIT Reduced from 22% to 20%
Brunei CIT Reduced from 28% to 23.5%
Canada CIT Reduced from 19.5% to 18%, with planned decreases to 15% by 2012
Czech Republic CIT Reduced from 20% to 19%
Greece CIT Reduced from 25% to 24% (further reduced to 23% in 2011, 22% in 2012, 21% in 2013 and 20% in 2014)
Hungary CIT Increased from 16% to 19%
Hungary Solidarity surcharge Abolished (previously 4%)
Iceland CIT Increased from 15% to 18% for limited liability companies and from 23.5% to 32.7% for other legal entities
Iceland VAT Increased from 24.5% to 25.5%
Indonesia CIT Reduced from 28% to 25%
Ireland VAT Reduced from 21.5% to 21%
Israel CIT Reduced from 26% to 25%
Kazakhstan CIT Previously enacted reduction from 20% to 17.5% in 2010 and 15% in 2011 is
postponed to 2013 and 2014, respectively
Lithuania CIT Reduced from 20% to 15%
Mexico CIT Increased from 28% to 30% (decreasing to 29% in 2013 and 28% in 2014)
Mexico VAT Increased from 15% to 16%
Oman CIT Flat 12% applies to all businesses, including branches and PEs (rather than progressive rates to 30%)
Qatar CIT Reduced from progressive rates up to 35% to 10% flat rate
Slovenia CIT Reduced from 21% to 20%
Taiwan CIT 20% (previously, rates were progressive up to 25%)
Taiwan WHT 20% imposed on dividends paid to nonresidents regardless of whether investment was
approved by Investment Commission and subject to any treaty based reductions
United Kingdom VAT Reverted to 17.5% from 15%
Zimbabwe CIT Reduced from 30% to 25%
Zimbabwe WHT Dividends from securities listed on the Zimbabwe stock exchange are taxed at 10%
(otherwise the rate is 15%); royalties paid to nonresidents are subject to a 15%
(previously 20%) withholding tax
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