Tax & Accounting Blog

Finland Public Spending Plans through 2020

Finland Public Spending Plans through 2020

Finland’s government has come to an agreement on public spending plans through 2020, which do not include changes to the VAT rates or direct taxes. There is an increase proposed for excise taxes for fuels but no other tax increases are proposed. Finland’s VAT rates are 24%, 14% and 10% and have remained unchanged since 2013. The government’s … Read More

Uncertainty in VAT reforms and Sri Lanka

Uncertainty in VAT reforms and Sri Lanka

Very often countries adopt VAT reforms in order to deal with unforeseen economic circumstances and balance their budgets or to respond to political pressure from different groups. As governments try to react fast on changing circumstances, many times the details on the implementation of the reforms are not thought thoroughly, leading to uncertainty and posterior … Read More

New Florida Law Allows Counties to Impose Sales Tax to Fund Public Pensions

New Florida Law Allows Counties to Impose Sales Tax to Fund Public Pensions

On March 25, 2016, Florida Governor Rick Scott approved HB 1297, a bill allowing counties to impose a discretionary sales surtax to fund underfunded public pension plans. The bill was the result of intense lobbying by the City of Jacksonville, which is consolidated with Duval County. According to the Florida Times-Union, Jacksonville pushed for approval … Read More