There were 30 percent fewer indirect tax increases reported globally in the first quarter of 2012 than there were during the same period in 2011, according to the latest ONESOURCE Indirect Tax rate report from Thomson Reuters.
The number of indirect tax increases declined from 154 in Q1 2011 to 107 in Q1 2012. This includes two components:
- The total number of state, county, and city sales tax increases in the U.S. declined from 100 to 90.
- The number of value added tax increases globally dropped from 54 to 17
The quarterly ONESOURCE Indirect Tax rate report summarizes changes in sales, use and value added taxes — providing a high-level look at information incorporated in detail in the Thomson Reuters ONESOURCE Indirect Tax Solutions.