Tax & Regulation
Why a wealth tax in South Africa won’t work
In April, a committee set up to review South Africa’s tax system unveiled plans to introduce a new wealth tax as the country struggles to deal with extreme income inequality and a dwindling tax base. Here we look at the reasons it’s unlikely to work.
Tax & Regulation | 7 Jun 17
Over 1m UK taxpayers could face ‘stealth tax’ rises by 2019
More than one million UK taxpayers, who earn between £100,000 and £123,000, could face paying an effective tax of 60% if the current tax system remains unchanged, according to international accountancy firm RSM.
Tax & Regulation | 7 Jun 17
Labour’s land value tax unlikely to apply to gardens
Plans by Britain’s opposition Labour Party to impose a ‘land value tax’ are unlikely to apply to gardens and other “productive land”, despite criticism the policy could cost the average home £5,539 (€6,346, $7,149).
Tax & Regulation | 7 Jun 17
FCA orders another UK firm to immediately cease pension advice
The Financial Conduct Authority has ordered Glasgow-headquartered Intelligent Pensions to stop providing pension advice in the latest in a series of actions taken by the UK watchdog to clamp down on pension transfers.
Middle East | 7 Jun 17
Dubai regulator sees complaints drop but scams still dominate
There has been a sharp drop in the number of complaints received by the Dubai Financial Services Authority, which regulates of the DIFC, but most of those it receives still relate to scams.