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Tax agency likely to miss 2013 tax revenue target: head

Yonhap News AgencyJune 18, 2013 03:30
SEOUL, June 18 (Yonhap) -- The head of South Korea's tax agency said Tuesday that it will be considerably difficult for the government to achieve its target of tax collection for this year due to the economic slowdown. The 2013 tax revenue target by the National Tax Service (NTS) is set at 199 trillion won (US$175.8 billion), but as of end-April, the collection amounted to 70.5 trillion won or 35.4 percent of the target, it said.

Analysis: Mexico aims to overhaul tax system, raise revenue

May 7, 2013 11:03
By Krista Hughes MEXICO CITY (Reuters) - Tax breaks for attending "civic values" courses, tax-free sales of second-hand furniture, special treatment for call centers and an informal economy employing six out of 10 workers are all in the line of fire as Mexico prepares a long-awaited tax overhaul. An analysis of budget data shows Mexico's extensive network of tax breaks and stimulus programs generate costs equal to about half the taxes actually collected.

US denies effort to sanction Venezuela

Agence France-PresseApril 23, 2013 15:01
The United States on Tuesday denied charges it was considering sanctions against Venezuela over its disputed election after the country's left-leaning leader warned of retaliation. "I'm not aware of any particular effort afoot in terms of sanctions on Venezuela at this point," State Department spokesman Patrick Ventrell told reporters. President Nicolas Maduro, heir to the late firebrand Hugo Chavez, on Monday accused the United States of threatening Venezuela as he swore in a cabinet after he was declared the victor of the election by a razor-thin margin.

Venezuela threatens oil, trade measures in vote row with US

Agence France-PresseApril 22, 2013 17:17
Venezuela threatened Monday to take measures affecting energy and trade if the United States resorts to sanctions in a row over disputed presidential elections in Caracas earlier this month. "If the United States takes recourse to economic sanctions, or sanctions of any other kind, we will take measures of a commercial, energy, economic and political order that we consider necessary," Foreign Minister Elias Jaua said in a television interview. jm/sst

Obama tax blueprint opening gambit in potential tax rewrite

April 10, 2013 16:30
By Kim Dixon WASHINGTON (Reuters) - President Barack Obama on Wednesday revived a list of his favourite tax ideas, hoping to raise $580 billion (378.3 billion pounds) in new revenues from the wealthy over a decade in a potential opening gambit to forge a deal with Congress to overhaul the U.S. tax code.

Steep fall in Syria foreign trade in 2012

April 7, 2013 12:45
Syria suffered in 2012 an unprecedented decline in foreign trade, with exports falling by nearly 100 percent from a year earlier, according to an official study published in a newspaper on Sunday. The study, published in pro-regime daily Al-Watan, showed "the dramatic impact caused by the current crisis" on foreign trade. The value of Syria's exports registered in the year 2012 dropped to a mere $185 million, a decline of 97.4 percent on the $7.21 billion registered in 2011. In 2010 exports were valued at $11.35 billion.

UK finance minister under fire over disabled parking gaffe

April 5, 2013 09:00
Britain's beleaguered finance minister George Osborne faced fresh pressure over his hardline stance on the social welfare system on Friday after his car was photographed parked in a space reserved for disabled drivers. Osborne, a deeply unpopular figure among critics of his government's austerity programme, apparently went to pick up lunch from a McDonald's at a motorway service station, unaware that his driver was parked in the space. "George does not condone this in any way," a Conservative party source said.

Economic liberalisation slowing in China: OECD

March 22, 2013 05:46
Economic liberalisation has slowed in China, the OECD said in a major report Friday, urging the country's Communist rulers to step up efforts to level the playing field for state-owned and private firms. A long-standing commitment to looser control has boosted productivity and efficiency in the economy, the Organisation for Economic Cooperation and Development said in its Economic Survey of China, which also tipped growth this year of 8.5 percent.

Factbox - Key measures in 2013 budget

March 20, 2013 13:30
LONDON (Reuters) - Chancellor George Osborne delivered 2013 budget on Wednesday. Here are the main measures he introduced. BANK OF ENGLAND REMIT Osborne paved the way for changes at the Bank, asking it to report in August on the merits of setting "intermediate thresholds" for monetary policy. Such changes might make the Bank operate in a way similar to the U.S. Federal Reserve which has given increasingly explicit signs about how long it will continue to provide emergency stimulus to the U.S. economy.

EU agrees sanctions against N.Korea after nuclear test

February 18, 2013 12:31
The European Union agreed a raft of new sanctions on Monday against North Korea in retaliation for the country's nuclear test last week, EU officials said. The measures range from financial to travel bans and asset freezes against individuals. They include implementation of individual sanctions approved at UN level as well as EU restrictions on financial dealings and trade sanctions on items potentially linked to Pyonyang's ballistic and nuclear programmes, the source said.
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