Tax & Accounting Blog

Japan Ratifies First Sales-Tax Increase Since 1997

Japan Ratifies First Sales-Tax Increase Since 1997

On august 9th Japan’s opposition-controlled upper house ratified Prime Minister Noda’s  bill to raise the country’s sales tax for the first time in 15 years. Under this legislation the current 5% rate will be increased to 10% by 2015. The lower house passed the bill in June. A clause in the bill allows for implementation to be canceled … Read More

Thomson Reuters Report: Number of Global Indirect Tax Changes Nearly Quadrupled in Q2, Increasing Taxes on Consumers and Administrative Burden on Business

Thomson Reuters Report: Number of Global Indirect Tax Changes Nearly Quadrupled in Q2, Increasing Taxes on Consumers and Administrative Burden on Business

Worldwide, there were 379 percent more indirect tax changes in the second quarter of 2012 than there were during the same period in 2011, according to the latest ONESOURCE Indirect Tax rate report from Thomson Reuters. There were 1,025 tax code changes in Q2 2012, compared with 270 in Q2 2011. This includes 109 indirect … Read More

France – Second Amending Finance Law for 2012 adopted by Council of Ministers

France – Second Amending Finance Law for 2012 adopted by Council of Ministers

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