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Global tax outlook

UHY Member Firms around the world have contributed to the 2012 edition of the UHY Global Tax Outlook. “Compared to last year, there appears to be more emphasis on maintaining the status quo as many countries continue to deal with difficult economic times,” said John Wolfgang, Chairman of UHY. Countries such as Japan and Chile, which experienced severe earthquakes in 2011, have increased taxes to fund rebuilding of infrastructure. Some countries have emphasized the environment, introducing incentives to promote investment in green technology or a carbon tax to discourage use of fossil fuels. “Overall, the trend continues for slight reductions in corporate income tax rates and slight increases in rates of value added tax,” concluded Wolfgang.

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