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  • [New] Federal Government plans to expand tax treaty network The Federal Government has announced it will expand Australia's tax treaty network with plans to enter into ten new and updated tax treaties by 2023, building on the existing network of 45 bilateral tax treaties.
  • [New] Because younger people are much more likely than older people to work and pay taxes that finance Social Security, Medicare and all other public-sector activities, population aging could strain government budgets, now and in coming decades. MarketWatch
  • [New] The Morrison Government will expand Australia's tax treaty network to support the economic recovery and ensure Australian businesses are well placed to take advantage of the opportunities that will emerge in the coming years. Josh Frydenberg
  • [New] WASHINGTON-Households making at least $1 million in income would face a 10.6% tax increase in 2023 under House Democrats' plan, raising their average federal tax rate to 37.3% from 30.2%. WSJ
  • [New] Full recovery from the initial shock of the COVID-19 pandemic, according to the American Hotel & Lodging Association is not expected until 2024, with state and local tax revenues generated by hotels recovering earlier, albeit in 2023. Hospitality Net
  • [New] For becoming a new Switzerland, or even an oasis for tax dodgers, a lot more is required than military hardware plus a functioning surveillance system which will treat insiders harshly but outsiders and their in-transparent dealings leniently. Tehran Times
  • [New] A Temporary expansions to the CTC under the Tax Cuts and Jobs Act of 2017 will expire at the end of 2025, while additional temporary expansions to both the CTC and the EITC enacted by the American Rescue Plan Act of 2021 will expire at the end of 2021. Central Asia-Caucasus Institute
  • [New] Congressional Democrats' massive Build Back Better spending plan would create a new subsidy for renewable jet fuel while also extending the existing tax credit for biodiesel and renewable diesel through 2031. agri-pulse
  • [New] The bevy of tax hikes on corporations and wealthy Americans unveiled by House Democrats on Monday could actually increase businesses' use of offshore havens - while shifting the burden of higher rates to small businesses. Fox Business
  • [New] Millions of working families across the United States will receive their next payment this week from the federal government from the expanded 2021 Child Tax Credit. Silive
  • [New] A refundable tax credit program for non-elderly adults would address remaining poverty and allow Canada to achieve the goals set by the Poverty Reduction Act to reduce the poverty rate to 6% by 2030. The School of Public Policy
  • [New] WASHINGTON-House Democrats proposed extending the expanded child tax credit through 2025 and making permanent its key feature aimed at helping low-income families, as part of a plan to provide tax breaks for families and renewable-energy producers. WSJ
  • [New] New fees or taxes on energy companies will raise costs for customers, creating a burden that will fall most heavily on lower-income Americans. Daily Energy Insider
  • [New] Chile reduced its corporate income tax rate from 22 to 10% for small and medium-sized businesses until 2023, while Colombia targeted a corporate income tax - rate reduction for air transport. University of Calgary
  • [New] A large proportion of the receipts generated by the dividend tax hike will be sourced from business owners, who do not receive income through payroll, but often through dividends, raising questions over whether a more punitive dividend tax regime will disincentivise entrepreneurship in the UK. CityAM
  • House Democrats are pressing to renew the revamped child tax credit through 2025, potentially setting up a clash with their Senate counterparts who are eyeing a shorter extension in the $3.5 trillion social spending plan. Business Insider
  • Senate Democrats are now negotiating a $3.5 trillion-dollar soft infrastructure package that will include legislation to lower patient out-of-pocket costs in Part D and expand Medicare to cover vision, dental, and hearing services by imposing new taxes. STAT
  • Democratic tax hikes could kill a million U.S. jobs, raise fuel prices and leave America more dependent on foreign oil. Reuters
  • With the EU set to impose a border carbon tax on imports from nations that do not price carbon, a U.S. carbon price will prevent additional costs for American companies and protect American jobs. Red, Green, and Blue

Last updated: 19 September 2021