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Indonesia's finance minister said on Wednesday the government plans to raise by nearly 50 percent the income threshold at which individuals start to owe income tax, in a bid to boost purchasing power and economic growth. Bambang Brodjonegoro told a parliamentary committee he is considering increasing the threshold for an unmarried adult to 36 million rupiah ($2,728) a year from the current 24.3 million rupiah.

The European Commission said on Tuesday it would continue its investigation into Luxembourg's tax treatment of Amazon after reports the online retailer had changed its tax practices in Europe. The Commission launched an in-depth investigation last October into alleged state aid Luxembourg was granting to Amazon by offering a low corporate tax rate on European profits, most of which are booked in the Grand Duchy.
drivers did not have tax numbers, nor did they give receipts after the ride, and they did not possess taxi licenses.
Thailand's military government has passed the country's first inheritance tax bill, as part of tax reforms to broaden the tax base and boost revenue in a lacklustre economy. The bill, approved by the National Legislative Assembly late on Friday, will require inheritors of assets worth more than 100 million baht ($3 million) to pay tax above that threshold - at 5 percent for descendants and 10 percent for others.
Egypt froze plans for a 10 percent tax on capital gains on Monday, reversing a central component of its economic reform agenda that investors had criticised. It kept in place a 10 percent tax on stock dividends. The Cairo bourse had previously been exempt from any taxes on capital gains or dividends. The taxes, approved by President Abdel Fattah al-Sisi last July as part of efforts to overhaul an economy battered by years of political turmoil, were challenged in court last month.
The US Commerce Department has found dumping of imports of welded line pipe from South Korea and Turkey, according to a preliminary finding released on Friday. The dumping finding means a foreign company is selling a product in the United States at less than fair value. The difference between a product's price in the foreign market and its price in the United States is expressed as a "dumping margin."
Puerto Rico bonds rallied in high volume on Friday, pushing yields lower after lawmakers agreed to a series of tax measures late on Thursday that could help stabilize the island's finances and pave the way for a new financing deal. Yields fell on the island's general obligation bonds (GOs), as well as on bonds backed by sales tax revenues, after lawmakers said they would increase the sales tax to 11.5 percent from the current 7 percent in a package of tax measures.

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln