• Israel hikes VAT to Record High 18%: Update from International Tax Compliance Services Team
  The Israeli Government has raised value-added tax rate (VAT) to 18% from 17%. In the light of the growing budget deficits, the Israeli Tax Authority expects to generate more revenue from the increase in tax and close the widening gap, says Nair & Co.’s International Tax Consulting Team.
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• South Korea Announces Tax Hike; Business Entities in the Country Affected
  The South Korean government has announced changes to its tax laws that would increase tax rates for both large businesses operating in the country and employees. The new law changes are expected to increase South Korean tax revenues by KRW 1.8 Trillion and raising taxes on capital gains and tax rates.
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