Tax & Accounting Blog

Barbados Increases VAT

In order to correct the fiscal imbalance Barbados needs revenue enhancement. That is how the Ministry of Finance began his VAT Budget proposal, which followed by a Value Added Tax increase from 15% to 17.5%, effective December 1st 2010. The VAT increase is intended as a temporary measure for the next eighteen months and is … Read More

New Jersey Updates SST Sales & Use Tax Matrix

New Jersey Updates SST Sales & Use Tax Matrix

New Jersey has updated its SST taxablility matrix effective November 2010. Optional maintenance contracts for prewritten software that only provide for support services was updated to indicate that it is 100% exempt rather than 100% taxable. The revised matrix also clarifies that nontaxable support services means services such as training, help desk, on-line, or telephone … Read More

Ohio Submits Revised SST Matrix

Ohio Submits Revised SST Matrix

Ohio submitted a revised taxability matrix on November 15th to the SST Governing Board for approval. The revisions include the following exemptions: optional maintenance contracts on prewritten software that include only services international, interstate and intrastate 900 services The matrix, which has an effective date of August 1, 2010, can be viewed on the SST’s website at: www.streamlinedsalestax.org/uploads/downloads/State%20Compliance/Ohio/2010/Ohio%202010%20Taxability%20Matrix%2011_15_10%20revisions.pdfRead More