ey-global-tax-policy-outlook-for-2015

More documents

Recommendations

Info

Germany • Controlled foreign companies (CFCs) • Thin capitalization • Transfer pricing changes • • amortization • Changes to tax enforcement approach • Top marginal personal income tax (PIT) rate • PIT base 2.3 Tax policy outlook for 2015 — summary Corporate income tax burden Lower No change Higher Personal income tax burden Lower Mixed Higher VAT/GST/sales tax burden X X Lower Mixed Higher X 84 | The outlook for global tax policy in 2015
Germany 2.4 Tax policy outlook for 2015 — detail Corporate income taxes • Taxation of capital gains realized on the disposition of portfolio corporate shareholdings of less than 10% will be reconsidered in 2015. A majority of states strongly support such taxation. Currently, only dividends are fully taxable for a corporate shareholder with such portfolio shareholdings, while capital gains are effectively 95% tax exempt. It has been announced that a draft bill will be published by mid-2015. • It remains to be seen whether states will enforce the implementation of stricter anti-hybrid rules in 2015. If not, such rules will probably be implemented as from 2016 as a part of the wider implementation of BEPS issues. Hybrid mismatch rules are part of the agenda of a joint federal and state working group on early BEPS implementation that in 2015 will discuss options to introduce BEPS legislation. A draft bill will be announced in 2015 that will include at least some aspects of anti-hybrid mismatch regulation. • optimistic that progress can be made in the CCTB discussion CCTB, including consolidation and formulary apportionment of the tax base. Taxes on wages and employment • Conservative backbenchers have started an initiative to push a reform of the personal income tax rate which would effectively lower personal income taxes. The background to this issue is the progressive course of the marginal personal of 14 percent and then rises in bands, up to highest marginal rate 45 percent. The conservative initiative criticizes that historically, personal income tax policies have not taken The initiative aims to reform the income tax rate so as to and Finance Minister Wolfgang Schäuble do not support this initiative, but broad support in the conservative party could put it on the tax policy agenda in 2015. VAT, GST and sales taxes • quick reaction mechanism. Therefore, the extension of the reverse charge system is expected to remain a tax policy issue in 2015. • an inheritance tax law amendment will be necessary until 30 June 2016. The new coalition has committed itself to a business-friendly adjustment, but we expect the social democrats and the states to push for a new regulation that increases inheritance tax revenue. Inheritance tax revenue is part of the budget of the states. • Concerning real estate tax, the current valuation system is under pressure as it utilizes values from the 1930s and 1960s. It is possible that either court decisions will result in reform, or the states and the federal level proactively will agree on reform. Several proposals have been in discussion for the past two years. The outcomes will likely lead to higher real estate taxes. The federal coalition has called the states to agree on a reform model. • transaction tax (FTT). Since many EU Member States oppose that have joined an enhanced cooperation procedure. It is expected that there will be an agreement within the 2.5 Fiscal stimulus in 2015 In reaction to the discussion on the need for higher public has developed a program to increase federal investments from 2016 onwards. This program will cumulatively raise federal investments by EUR10b. from 2016 to 2018. It is not clear yet the program will not include tax components but instead will focus on higher public expenditures. The outlook for global tax policy in 2015 | 85
Page 1 and 2:
The outlook for global tax policy i
Page 3 and 4:
Tax twists and turns For more than
Page 5 and 6:
where cuts in VAT rates were initia
Page 7 and 8:
What were the highlights of 2014 fo
Page 9 and 10:
Forecast of tax policy trends for 2
Page 11 and 12:
The strong focus on the tax treatme
Page 13 and 14:
in the formation of tax policy in 2
Page 15 and 16:
Italy Japan 6/2 of the 29 countries
Page 17 and 18:
to understand; if governments are g
Page 19 and 20:
Messages for business We are now we
Page 21 and 22:
This is probably going to turn out
Page 23 and 24:
Actions for business to consider Ag
Page 25 and 26:
Connect with us The outlook for glo
Page 27 and 28:
Americas Tax policy Tax controversy
Page 29 and 30:
Tax policy Tax controversy New Zeal
Page 31 and 32:
EMEIA Tax policy Tax controversy Eu
Page 33 and 34:
EMEIA Tax policy Tax controversy Sl
Page 35 and 36: Country outlooks The outlook for gl
Page 37 and 38: The outlook for global tax policy i
Page 39 and 40: Australia The following election go
Page 41 and 42: Australia 2.3 Tax policy outlook fo
Page 43 and 44: Australia 2.10 Pending tax proposal
Page 45 and 46: Brazil 2.2 Fiscal consolidation vs.
Page 47 and 48: Brazil 2.5 Fiscal stimulus in 2015
Page 49 and 50: Canada 2 | 2015 tax policy outlook
Page 51 and 52: Canada 2.3 Tax policy outlook for 2
Page 53 and 54: Canada 2.9 Country position on OECD
Page 55 and 56: Chile 2.2 Fiscal consolidation vs.
Page 57 and 58: Chile Taxes on wages and employment
Page 59 and 60: Chile 2.11 Consultations opened/clo
Page 61 and 62: China 2 | 2015 tax policy outlook
Page 63 and 64: China • • Top marginal persona
Page 65 and 66: China 2.4 Tax policy outlook for 20
Page 67 and 68: China 2.10 Pending tax proposals
Page 69 and 70: Czech Republic 2 | 2015 tax policy
Page 71 and 72: Czech Republic 2.5 Fiscal stimulus
Page 73 and 74: Denmark 2.2 Fiscal consolidation vs
Page 75 and 76: Denmark 2.7 Current tax policy and
Page 77 and 78: Finland 2.2 Fiscal consolidation vs
Page 79 and 80: Finland 2.8 Key tax policy changes
Page 81 and 82: France 2.2 Fiscal consolidation vs.
Page 83 and 84: France exceeds €1 million. Remune
Page 85: Germany 2 | 2015 tax policy outlook
Page 89 and 90: Germany 2.9 Country position on OEC
Page 91 and 92: Greece 2.2 Fiscal consolidation vs.
Page 93 and 94: Greece 2.7 Current tax policy and t
Page 95 and 96: Hungary 2.2 Fiscal consolidation vs
Page 97 and 98: Hungary 2.5 Fiscal stimulus in 2015
Page 99 and 100: India 2 | 2015 tax policy outlook 2
Page 101 and 102: India 2.4 Tax policy outlook for 20
Page 103 and 104: India • Action 8 • The Indian t
Page 105 and 106: Ireland 2.2 Fiscal consolidation vs
Page 107 and 108: Ireland 2.8 Key tax policy changes
Page 109 and 110: Ireland 2.11 Consultations opened/c
Page 111 and 112: Italy 2 | 2014 tax policy outlook 2
Page 113 and 114: Italy 2.7 Current tax policy and ta
Page 115 and 116: Japan 2.2 Fiscal consolidation vs.
Page 117 and 118: Japan • • for each stock owne
Page 119 and 120: Japan 2.9 Country position on OECD
Page 121 and 122: Luxembourg 2 | 2015 tax policy outl
Page 123 and 124: Luxembourg 2.4 Tax policy outlook f
Page 125 and 126: Luxembourg 2.10 Pending tax proposa
Page 127 and 128: Malaysia 2 | 2015 tax policy outloo
Page 129 and 130: Malaysia 2.3 Tax policy outlook for
Page 131 and 132: Malaysia 2.9 Country position on OE
Page 133 and 134: Mexico 2.2 Fiscal consolidation vs.
Page 135 and 136: Mexico 2.7 Current tax policy and t
Page 137 and 138:
Netherlands • Additionally, the C
Page 139 and 140:
Netherlands 2.4 Tax policy outlook
Page 141 and 142:
Netherlands exemption, the tax tre
Page 143 and 144:
New Zealand 2.2 Fiscal consolidatio
Page 145 and 146:
New Zealand 2.6 Political landscape
Page 147 and 148:
Poland 2.2 Fiscal consolidation vs.
Page 149 and 150:
Poland 2.5 Fiscal stimulus in 2015
Page 151 and 152:
Portugal 2 | 2015 tax policy outloo
Page 153 and 154:
Portugal 2.4 Tax policy outlook for
Page 155 and 156:
Russia 2 | 2015 tax policy outlook
Page 157 and 158:
Russia 2.4 Tax policy outlook for 2
Page 159 and 160:
Russia 2.9 Country position on OECD
Page 161 and 162:
Slovak Republic 2.2 Fiscal consolid
Page 163 and 164:
Slovak Republic VAT, GST and sales
Page 165 and 166:
South Africa 2.2 Fiscal consolidati
Page 167 and 168:
South Africa 2.8 Key tax policy cha
Page 169 and 170:
South Korea 2.2 Fiscal consolidatio
Page 171 and 172:
South Korea 2.6 Political landscape
Page 173 and 174:
Spain 2.2 Fiscal consolidation vs.
Page 175 and 176:
Spain 2.5 Fiscal stimulus in 2015
Page 177 and 178:
Switzerland 2.2 Fiscal consolidatio
Page 179 and 180:
Switzerland 2.5 Fiscal stimulus in
Page 181 and 182:
Thailand • Continued sluggish eco
Page 183 and 184:
Thailand 2.4 Tax policy outlook for
Page 185 and 186:
Thailand 2.10 Pending tax proposals
Page 187 and 188:
United Kingdom 2.2 Fiscal consolida
Page 189 and 190:
United Kingdom 2.5 Fiscal stimulus
Page 191 and 192:
United Kingdom 2.11 Consultations o
Page 193 and 194:
United States • There is a desire
Page 195 and 196:
United States 2.4 Tax policy outloo
Page 197:
United States • Committee • C
Page 200:
EY | Assurance | Tax | Transactions
show all

ey-global-tax-policy-outlook-for-2015

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?