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A recent white paper published by the government of Turks & Caicos confirms the country’s intent to implement an 11% VAT on 1 April 2013. The new VAT is slated to replace several existing taxes including the Communications Tax, Hotel & Restaurant Accommodation Tax and Domestic Financial Service Tax. According to the white paper essential food and … Read More
Legislation is currently being discussed by the French Parliament that would reverse the previously planned VAT rise. The Second Amending Finance Bill for 2012, which was adopted by the Council of Ministers on 4 July 2012, is scheduled for parliamentary discussion on 16 July 2012. If the Bill passes, the previously planned increase of the standard VAT … Read More
To kick off its second annual VAT Week (July 10-16th) the government of Bangladesh recognized the top 134 VAT paying companies at a ceremony on July 10th. Finance Minister AMA Muhith personally handed the awards to nine national-level recipients along with 27 from the greater Dhaka region, at a ceremony at Bangabandhu International Conference Centre. … Read More
New York, July 12, 2012 – Thomson Reuters today announced the latest release of the ONESOURCE Indirect Tax global software suite. Designed to help global companies deal with thousands of indirect tax and value added tax changes a year, the latest release leverages a company’s existing systems, while increasing the speed and accuracy of the … Read More
The Supreme Court’s recent ruling upholding President Obama’s health care plan as Constitutional under Congress’s Constitutional authority to levy taxes has given rise to a need for additional taxes to support that “tax”. Of those additional taxes the one that has received the most press so far, largely in part to the outcry from Jersey … Read More
Greece’s new coalition government, elected on June 17, is considering reducing the VAT rate applied to hotels and restaurants in order to bolster the tourism industry. The plan would reduce the VAT rate on those sales from the current 23% to 12%-15%. Any change to the VAT rates will be subject to agreement with the European Central Bank, … Read More