Tax reforms

US Senate passes sweeping tax reforms

The House of Representatives earlier approved the bill comfortably. Republicans have majorities in both houses of Congress.

For final approval the legislation must go back to the House on Wednesday for a procedural issue.

If it passes, as expected, it will be President Donald Trump's first major legislative triumph.

Critics say the package is a deficit-bloating giveaway to the super-rich.

But Republicans argue the tax cuts for corporations, small businesses and individuals will boost economic growth.

ILO warns Vanuatu tax reforms could hurt vulnerable

There's already widespread opposition in Vanuatu for the new tax plan which aims to introduce among other things income tax and corporate tax by July next year.

RNZI reports the ILO's regional wage expert Daniel Kostzer said a recently released review of the proposed tax plan shows government had done a lot more consultations on the proposed reforms but it had failed to take most of the concerns raised into consideration.