Tax & Accounting Blog

The European Commission (“Commission”) is taking France and Luxembourg to court for applying reduced VAT rates to the sale of electronic books (“e-books”). Both countries have been applying a reduced VAT rate to supplies of e-books since January 2012. The rate is 7% in France and 3% in Luxembourg. Although printed books are eligible for … Read More

It is being reported that the controversial value added tax (VAT) will not be implemented in the Turks & Caicos on 1 April as had been planned. The decision by the United Kingdom (U.K.) was announced in a letter on 25 February by Mark Simmonds , the UK’s Minister for the Overseas Territories, and Alan Duncan, … Read More

The U.S. Department of the Treasury has announced the signing of a bilateral agreement with the government of Switzerland to facilitate implementation of the information reporting and withholding tax provisions of the Foreign Account Tax Compliance Act (FATCA). “Today’s announcement marks a significant step forward in our efforts to work collaboratively to combat offshore … Read More

A recent survey has confirmed that it is unlikely that Alberta will have a Provincial Sales Tax (PST) anytime soon. An opinion poll by ThinkHQ Public Affairs found that 72 per cent of Albertans surveyed would vote against introducing a PST in a referendum. The Alberta Taxpayer Protection Act requires that a referendum must be held … Read More

New York, February 26, 2013 — Thomson Reuters introduces today ONESOURCE Indirect Tax in the cloud, an end-to-end solution that manages the entire indirect tax lifecycle. Available to companies of all sizes regardless of business operation complexity, ONESOURCE Indirect Tax in the cloud leverages Thomson Reuters proven and patented global on-premise software that … Read More

Croatia is set to become the 28th member state of the European Union in a few months on 1 July 2013. The Treaty of Croatia’s Accession to the European Union was signed in Brussels on 9 December 2011. As of 21 February of this year 24 states have ratified Croatia’s Treaty, with Germany, Slovenia and … Read More