Tax & Accounting Blog

DOT Changes it’s Plans After Tax Vote

DOT Changes it’s Plans After Tax Vote

Georgia’s department of transportation is officially moving on from metro Atlanta voters rejecting a $7 billion transportation sales tax referendum. Instead, they are turning to three other regions that voted yes to pay for improved local roads and highways. For the first time Wednesday, state officials held an industry briefing on the hundreds of projects that will … Read More

Iceland Plans to Raise VAT on Accomodations in 2013

Iceland Plans to Raise VAT on Accomodations in 2013

The government of Iceland has announced plans to increase the VAT rate on tourist accommodations from 7%  to 25.5% beginning May 2013. The increase will make VAT on accommodations in Iceland the highest in Europe. The plan has received harsh criticism from the Icelandic tourism industry. Source: http://www.icelandreview.com/icelandreview/daily_news/Higher_Taxes_on_Aviation_and_Accommodation_0_392624.news.aspxRead More

A Study Questions the True Benefit of Sales Tax Holidays

A Study Questions the True Benefit of Sales Tax Holidays

Sales tax holidays are normally viewed as a boom for retailers, but even industry advocates are conceding that this year’s tax holidays may be the toughest yet for small store owners. Some economists and tax policy experts agree that sales tax holidays do not significantly increase consumer purchasing. Instead, the highly-publicized events just mean customers postpone … Read More