Tax & Accounting Blog

As I discussed in a recent LinkedIn blog post, an online study conducted by NerdWallet and Harris Poll found that of more than 1,600 U.S. adults, 80% of taxpayers ages 18-34 who filed taxes last year and planned to file this year say they’re fearful about some aspect of preparing their … Read More

Can the “National Unity” Government“VAT” be a completely new VAT? Apparently it can! Due to extreme financial hardship that the people of Sri Lanka have experienced under the previous and most recent government, it is not surprising that the latest VAT rate increase has been highly politicized and sold to the people as a … Read More

Sharing economy is a concept that has been developed recently and can be heard very often nowadays. However, as a new idea, it represents certain challenges compared to the regular transactions or business models we were used to. These challenges go from regulatory issues to other aspects such as taxation, and represent a concern that … Read More

Tanzania’s 2016 Finance Act made two major changes to the VAT law: Elimination of the exemption for VAT on certain fees for Financial Services Elimination of the VAT exemption on tourism services The first change has created confusion about which party should bear the VAT: the bank or the final consumer. Some banks argue they … Read More

It may seem hard to believe, but as we approach the end of July, back to school season is approaching fast. Smart shopping parents looking to save on their children’s clothing and supplies are looking forward to annual sales tax ‘holidays’ in a number of states. Sales tax ‘holidays’ are generally statutory in nature and … Read More

Texas has added two new combined tax areas since April: Fate/Rockwall County Assistance District (effective April 1st 2016) Cleveland/East Montgomery County Improvement District (effective July 1st 2016) This brings the total number of combined tax areas in Texas up to 42. Combined tax areas are “unique areas where a portion of a city overlaps another … Read More