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"The ones who have properties are the ones with the power to implement the tax," Pan Shiyi, 46, chairman of the Beijing-based real estate developer Soho China, said in Hong Kong.
In June, the city's mayor announced that Vancouver would levy a tax on any property that lies vacant for twelve months; this week, the province of British Columbia said that it would give the city the statutory powers required to implement the tax.
Fearing millions of Americans will wind up in similar informational dead-ends as they try to figure out their tax returns, Congress last week passed a $1.3 trillion omnibus package that bulks up funding for the IRS, including a $320 million short-term allocation to help the agency implement the tax law.
The IRS is working to develop withholding guidance to implement the tax reform bill passed by Congress on December 20.
As a result, in 2013 a group of ten European countries, including Spain, agreed on a cooperation agreement to implement the tax within the states willing to participate and began negotiations through Ecofin, the Economic and Financial Affairs Council of the EU.
Besides technical questions about how to implement the tax internationally, the offshore argument probably presents the most serious challenge.
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"The I.R.S. would not be prohibited from implementing the tax credit," the aide said.
But today Italy is implementing the tax on its own in a very different context.
It also explores political and other challenges the government faced when designing and implementing the tax.
And it is also lucrative; the Mexican government partly implemented the tax as part of fiscal reform meant to reduce its dependence on oil income.
France took the lead in pioneering the Unitaid air ticket levy, and was subsequently followed by a number of other countries that have since implemented the tax.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com