In his article for the Belfast Telegraph, Mr Johnson laid out the ground for acting alone on the protocol. He wrote: “It was designed before a global pandemic and a European war that created a cost of living crisis on a scale not seen in half a century. “For there …
Read More »Diesel prices hit new high despite fuel tax cut
Diesel prices have hit a new high despite lower fuel taxes, the figures show. The average cost of a liter of fuel on UK forecourts on Monday was 178.4p, according to government data. The previous record of 177.5p was set two days before Chancellor Rishi Sunak implemented a 5p per …
Read More »NBR to enable more companies to easily release goods from ports
Three drugmakers have yet to fully utilize the AEO facility May 11, 2022, 10:35 p.m. Last modification: May 11, 2022, 10:39 p.m. Photo: Mohammad Minhaj Uddin/TBS “> Photo: Mohammad Minhaj Uddin/TBS The National Board of Revenue (NBR) Customs Department will expand the Authorized Economic Operator (AEO) facility to enable trusted …
Read More »Indonesia imposes tax and VAT on crypto income and purchases at 0.1%
The Indonesian government announced the imposition of an income tax of 0.1% on crypto income and VAT on crypto purchases on April 1. The director of tax regulations at the Ministry of Finance, Hestu Yoga Saksama, confirmed to CNN Indonesia that the Indonesian government has decided to tax capital. earns …
Read More »Veryfi Reveals Improved Mobile Receipt Capture for DTC Marketing Apps
At Retail Innovation Conference & Expo, Company Demonstrates Latest Artificial Intelligence-Based Capabilities for Consumer Packaged Goods and Retail Businesses SAN MATEO, Calif., May 11, 2022– Veryfi, using artificial intelligence (AI) technology to transform documents into structured data in seconds, announces enhanced mobile receipt capture capabilities in the latest version of …
Read More »Recognition of company cards for the purchase of goods and services in taxation and VAT regulations
The use of company cards issued by suppliers of goods and services to their corporate customers, allowing them to arrange the purchase of company-related goods and services (e.g. gasoline, taxi, etc.) by its employees, has been recognized and regulated by the latest amendments of the relevant Serbian tax and VAT …
Read More »Senate panel hears support for 12% VAT on Digital Services Bill
SENATE PRIB By Alyssa Nicole O. Tan GOVERNMENT AGENCIES and industry representatives have told a Senate committee they support a bill to impose a 12% value-added tax (VAT) on digital transactions, to ensure proper treatment equal tax for traditional and digital businesses. The measure clariIfes the VAT status of digital …
Read More »Finance Ministry ’embarrassed’ Prime Minister Modi by releasing GST dues the day he reprimanded: P Chidambaram
Image source: PTI/ REPRESENTATIONAL (FILE). Finance Ministry ’embarrassed’ Prime Minister by releasing GST dues on day he reprimanded States 😛 Chidambaram. Strong points Congress leader P Chidambaram conducted a search today at the Center He recovered Rs 78,704 cr that the center owes to the states in GST compensation On …
Read More »Reimbursement of the SAD authorized to the importer even if the VAT/sales tax rate is lower than the SAD rate or zero: CESTAT
By Rasheela Basher – On April 26, 2022 1:08 p.m. The Delhi Bench of the Customs, Excise and Service Tax Appeals Tribunal (CESTAT) ruled that the SAD refund is available even if the VAT/Sales Tax rate is lower than the SAD rate or no. even if the VAT/sales tax rate …
Read More »FDP against value added tax relief for foodstuffs
In the debate on the rise in food prices, the FDP, co-governor, refuses an exemption from VAT for certain products. Faction leader Christian Dürr told the Neue Osnabrücker Zeitung (Friday): “Unfortunately, the VAT reduction is not a targeted measure to relieve low-income people.” He also said that the reduced tax …
Read More »Review of IT Services (OTCMKTS: CSVI) and Global Blue Group (NYSE: GB)
Global Blue Group (NYSE: GB – Get Rating) and Computer Services (OTCMKTS: CSVI – Get Rating) are both small cap business services companies, but which is the better company? We’ll compare the two companies based on the strength of their profitability, earnings, valuation, institutional ownership, dividends, analyst recommendations and risk. …
Read More »Short-term headwinds won’t derail long-term growth, analyst says
For a company with a market capitalization of around a quarter of a trillion dollars, Ali Baba (BABA) a stock’s one-year performance resembles that of a small cap. Over the past 12 months, stocks have lost 60% of their value as a confluence of bearish developments have continued to drive …
Read More »Tough times lie ahead for Nigerians as FG’s new tariff regime begins in June 2022
Unbeknownst to Nigerians, tougher times lie ahead as the Federal Government has approved the implementation of a new tariff and tax regime on imported goods, primarily beverages, alcohol, telecommunication services, among others. Most importers and their agents may also be unaware of the new federal government tax regime, through the …
Read More »Reconsider the migration of traders to the standard VAT rate – GUTA appeals to the government
The Ghana Traders Association (GUTA) has called on the government to address the challenges of the Value Added Tax (VAT) Flat Rate System (VFRS) before migrating traders to the Standard Rate System (SRS) . The Association noted that although trading in the market takes place under the same conditions and …
Read More »What is a no-dom? Know the tax status claimed by the wife of Rishi Sunak
What is a no-dom? Know the tax status claimed by the wife of Rishi Sunak London: Non-domicile, or non-dom, is a British tax status available since the French Revolution! Yes, that long. It allows someone born in another country, or if their parent is from another country, to pay tax …
Read More »Boda bodas, used cars likely to be targeted by a new tax
Boda boda operators resting on their motorcycles at the shell gas station in Section 58 on April 4, 2022, as they wait their turn to refuel. [Harun Wathari, Standard} Cabinet Secretary Ukur Yatani’s hidden ‘sin tax’ measure is likely to hit importers of boda boda motorcycles and secondhand cars in …
Read More »“Real possibility of volcanic eruption”
The Azores Seismovolcanic Information and Monitoring Center (CIVISA) warned that “there is a real possibility of a volcanic eruption” in São Jorge, but “there is no evidence that it is imminent”. In a status report published on its website, CIVISA says it has concluded “that the tectonic structures where the …
Read More »Odisha records 49% growth in GST collection for FY 2021-22
Gross TPS collection from Odisha in the fiscal year 2021-22 was recorded at Rs 44,334.67 crore against Rs 29,852.76 core for the fiscal year 2020-21 with a growth of 49%. The corresponding collection for 2019-2020 was Rs 29,686.32 crore, informed the Central Commission of Revenue (CT) and GST, …
Read More »Cambodia starts collecting VAT on e-commerce from today
The implementation of Value Added Tax (VAT) on e-commerce will start today after a three-month delay. Speaking to Fresh News, Kong Vibol, Minister Accompanying the Prime Minister and Director General of the General Directorate of Taxation, confirmed on the afternoon of March 31: “Nothing has changed, we have started applying …
Read More »With another round of oil price hikes, Bayan says oil tax suspension is just and humane
DRY PUMP Several pumps at a gas station in Tagbilaran city, the provincial capital of Bohol, ran out of diesel on Tuesday as vehicle owners began filling their tanks on Monday evening ahead of the sharp rise in fuel prices this week. —LEO UDTOHAN MANILA, Philippines – The right thing …
Read More »Lord Lilley: Northern Ireland protocol should be replaced by mutual enforcement
The obvious solution is to make it an offense in UK law to export goods from NI to the Republic which do not comply with EU rules. Critics assume there is no alternative to the protocol that would avoid hard borders between Northern Ireland and the Republic and Britain while …
Read More »Business News | Stock and Equity Market News | Financial News
Search mutual fund quotes, news, net asset values One 97 PayTM INE982J01020, PAYTM, 543396 Adani Wilmar INE699H01024, PUNCH, 543458 L&T finance INE498L01015, L&TFH, 533519 Tata Motors INE155A01022, TATA MOTORS, 500570 Addiction INE002A01018, TRUST, …
Read More »UWP accuses government of ‘blatant disinformation and propaganda’
– Advertising – The United Workers Party categorically denounces the statements made in a press release from theOffice of the Prime Minister of Saint Lucia on March 18, 2021. The content is replete with blatant inaccuracies, blatant misinformation and propaganda that was repeated by the Saint Lucia Labor Party during …
Read More »Surplus revenue to help the public
If Thailand’s revenue for fiscal 2022 exceeds the government’s target, the finance ministry will spend the excess money to ease people’s living costs, the ministry’s permanent secretary Krisada Chinavicharana said. He said a tax cut could be a method of easing people’s financial burden. The government collected net revenue of …
Read More »How Commodity Prices Inflated Globally, Then Lost Some Heat
The price of crude oil fell below $100 a barrel on Tuesday, belying forecasts made even before the war in Ukraine that it could rise above $150. The price of wheat has fallen more than $1.70 a bushel from its March 7 high, while soybean and palm oil have marked …
Read More »Working group, tax cut soon to contain the rise in prices
The government on Sunday decided to take several new measures, including forming a task force and reducing taxes, to contain volatility in the commodity market ahead of Ramadan. An inter-ministerial meeting took the decision to control by all means the soaring prices of edible oil, sugar, lentils and other necessities …
Read More »Duterte government claims highest income tax, VAT share of GDP
MANILA, Philippines – The Duterte administration is seen as assigning the highest share of personal income tax (PIT) collection to gross domestic product (GDP) after pursuing massive tax reforms, according to the ministry. of Finance (DOF). Deputy Finance Secretary Valery Brion said the contribution of the PIT effort averaged 2.4% …
Read More »is the PN up to it?
News Opposition leader Bernard Grech addressing voters during the election campaign. Photo: PN In the context of yet another election dominated by the main parties in the country, The Shift decided to compare their electoral platforms with the main concerns of voters highlighted by the polls to determine if they …
Read More »Pay attention to the difference (VAT)!
introduction Consumption taxes are a major source of revenue for governments. If you buy something from a nearby grocery store, chances are you will pay tax on that purchase. As expected, consumption taxes are not uniform across the world. For example, 27% and 31% of overall revenue comes from consumption …
Read More »Russian CPU prices skyrocket thanks to sanctions
This site may earn affiliate commissions from links on this page. Terms of use. Federal governments around the world are imposing sanctions on Russia in massive condemnation of the ongoing invasion of Ukraine. In addition to the recently announced oligarch “Kleptocapture” and the withdrawal of Russian banks from SWIFT, there …
Read More »Government abolishes fuel taxes
A ministerial statement said yesterday that Energy Minister January Makamba signed amendments to the tax regulations to comply with the cabinet decision, noting that the risky environment has driven up global prices. oil, affecting local market prices. The removal of the tax takes effect today until the end of May …
Read More »Time to! Delhi restaurateurs hail lifting of curbs | Latest Delhi News
Restaurant owners in the capital are rejoicing as the Delhi Disaster Management Authority (DDMA) has lifted all restrictions, saying restaurants and bars can now operate without the nightly curfew. Even the 50% cap on seating capacity – put in place to ensure appropriate behavior in Covid-19 – will be revoked, …
Read More »Small businesses brace for 25% drop in consumer spending
By NEIL HARTNELL Editor-in-chief of the Tribune [email protected] Small businesses in the Bahamas were said yesterday to be bracing for a drop of up to 25% in consumer demand from pre-COVID levels as inflation reduces purchasing power. Mark A Turnquest, a consultant who works with many micro, small and medium-sized …
Read More »Garment exports to China decline
Although Bangladesh’s overall export earnings from China rose 9.81% year-on-year to $426.14 million over the past seven months, apparel shipments to the East Asian country the East did not meet expectations despite the tariff advantages. Apparel shipments to China fell to $131.20 million in the July-January period of the current …
Read More »Taxpayers have until Friday to verify validity of IRS bills
Taxpayers have until next Friday, February 25 to go to the finance portal to validate invoices issued in 2021 with a tax identification number (NIF), so that the expenses count for counting the tax administration. Although the deadline for filing returns related to income earned last year does not begin …
Read More »FIRS will rely on the 2021 finance law to obtain adequate funding from the budget – Nami
FIRS Executive Chairman Muhammad Nami delivering his speech at the National Symposium on “Taxation and the Challenges of External Shocks: Lessons and Policy Options for Nigeria”, held in Abuja. By JOY ADARA, Abuja – The Federal Inland Revenue Service (FIRS) said it will use the instrument of the 2021 Budget …
Read More »Cameroon repatriated XAF 651.3 billion in export earnings in 2021, down 22% year-on-year
(Business in Cameroon) – Cameroon repatriated 651.3 billion FCFA of export earnings in 2021, informs the General Directorate of the Treasury. According to management, this is down 22.3% year-over-year. The volume of repatriated export earnings was estimated based on the number of certificates of repatriation of export earnings presented when …
Read More »UK tax authorities seize 3 NFTs involved in $1.8m fraud investigation
The UK tax authority – Her Majesty’s Revenue and Customs (HMRC) – has seized three NFTs as part of a wider investigation into VAT (goods and services tax) fraud, according to the BBC. This is the first time that HMRC has seized a NFT. Deputy Director of Economic Crime Nick …
Read More »CPC will ensure price regulation is followed locally but cannot stop global inflation – Eye Witness News
Commissioner tells Bahamians to stick to rising prices NASSAU, BAHAMAS – The Consumer Protection Commission (CPC) assures the public that it will continue to monitor global developments in consumables and ensure that local wholesalers and suppliers adhere to the regulations set out in the Consumer Protection Act. consumers and price …
Read More »Peter Lilley: Only the EU has threatened to impose land border controls between the UK and Ireland
Lord Lilley is a former Secretary of State for Trade and Industry and Social Security. Critics speculate that, without the protocol, the UK would introduce border checks and controls on trade with the Republic. In fact, the only party threatening a hard border on the island of Ireland was the …
Read More »Government consults on future of customs system
The government is asking businesses, traders and the public to give their opinion on how the customs system works and what improvements they would like to see. The government will ask business and border industry for their suggestions on: improvements to help traders access a quality customs brokerage industry; how …
Read More »[Ask the Tax Whiz] Are tech giants subject to 12% VAT?
The Philippine Tax Whiz explains House Bill 7425, which imposes value-added tax on digital transactions Undoubtedly, e-commerce in the country is growing exponentially. Due to this undeniable growth in the number of digital transactions and as part of the development of digital taxation in the Philippines, Congress approved House Bill …
Read More »Electronic direct debit is a discriminatory tax -Seth Terkper
A former finance minister, Mr. Seth Terkper, has described the proposed electronic transaction tax (E-levy) of 1.75% as a discriminatory tax that does not promote the principle of fairness in taxation. He said that in the past four decades since the launch of the Economic Recovery Program or Structural Adjustment …
Read More »Oil prices climb to seven-year highs ahead of OPEC+ meeting; markets await euro zone inflation data – live | Business
Hello and welcome to our ongoing coverage of the global economy, financial markets, eurozone and business. Oil prices climbed to seven-year highs hit last week after a drop in U.S. crude inventories suggested strong demand and amid a lack of supply, but investors remained cautious before a meeting of the …
Read More »Since Brexit, my gift packages arrive in the EU with a big bill | Money
Can you please explain the rules for sending gifts to Europe post Brexit as every time I send one to my son in Germany he ends up having to pay shipping cost. All the goods I have sent are well under €45 (£37) this seems to be the threshold for …
Read More »Raising the cap on income tax exemption : Chandigarh Beopar Mandal : The Tribune India
Tribune press service Chandigarh, January 28 The Chandigarh Beopar Mandal (CBM) has demanded an increase in the income tax exemption limit to Rs 5 lakh for all assessees in a memorandum to the Union Finance Minister, Nirmala Sitharaman. CBM Chairman Charanjiv Singh said they have demanded an increase in the …
Read More »Where does the government borrow billions?
Piggy bank attacked by a virus The UK government has borrowed record sums to pay for measures to limit the impact of the coronavirus. Initiatives such as the furlough scheme – which ended at the end of September – have been expensive and government revenues are down as it collected …
Read More »Some groceries with shipping delays but still available, says Roberts – Eye Witness News
NASSAU, BAHAMAS – While some items such as milk alternative and deli meats at Super Value have experienced shortages in recent weeks due to shipping delays, the grocery chain has braced itself for supply chain disruptions. global supply by purchasing at least three months of Provisions. U.S. full-service logistics provider …
Read More »CBIC Steps Up Revenue Campaign
NEW DELHI : The Central Board of Excise and Customs (CBIC) is stepping up revenue collection this quarter in conjunction with state governments as tax administrations attempt to boost tax revenue and make up for revenue losses resulting from recent tax cuts. excise duties and value added tax (VAT) on …
Read More »NBR examines the possibility of a tax refund on sukuk income
The National Revenue Board (NBR) is examining the possibility of granting an income tax reduction to individuals who invest in the Sharia-based sukuk bond, a senior tax authority official said yesterday. It was recommended by the Finance Division, which indicated that such a benefit was already in place for treasury …
Read More »Abaco eyes Economic Council after growing tired of Nassau ‘dictates’
By NEIL HARTNELL Editor-in-chief of the Tribune [email protected] Abaco’s private sector is seeking to create an Economic Development Council for the island, it was revealed yesterday, after growing tired of being “dictated” by Nassau. Ken Hutton, president of the Abaco Chamber of Commerce, told the Bahamas Business Outlook conference that …
Read More »NBR chases fake cigarette strip rolls
The Customs House Chattogram (CHC) and VAT Intelligence have already carried out several investigations to find the destination of fake cigarette strip rolls that evaded the gaze of authorities. Customs officers are also trying to uncover the identity of the “organized gang” that illegally imported fake music rolls through false …
Read More »Legal issues relating to FDI in Thailand Part 4: Main taxes
The main tax law applicable to FDI in Thailand is the Tax Code (“RC”), which covers the following taxes: – (1) Corporate tax (“IS”) CIT applies to companies and legal entities registered in Thailand or registered abroad but carrying on business in Thailand. With the exception of SMEs, companies registered …
Read More »Treasury forecasts £ 973million VAT windfall thanks to rising energy prices
Exclusive: Families could end up sending an additional £ 35 each to the government as part of the price hikes currently planned for their energy bills next spring Chancellor Rishi Sunak’s treasury is ready for a godsend ( Image: REUTERS) The Treasury is set to seize an estimated £ 973million …
Read More »Record tax taking of 68.4 billion euros paints a rosier picture after a year of pessimism
A record tax take last year is helping close the budget gap and reducing the government’s borrowing needs despite a spike in Covid cases and a partial foreclosure. he finance ministry collected 68.4 billion euros in taxes last year, the highest return on record, according to the Exchequer. The figure …
Read More »Trends and tax purposes in 2022
The new year aoffstarted here, and it would be prudent to start the year off on the right foot by learning about trends that taxpayers may want to anticipate. This year there are new tax rules that need to start and end, some of which are outlined below. GLOBAL RECOGNITION …
Read More »6 million UK homes may be unable to pay their energy bills after price hikes, charity warns | Fuel poverty
The number of UK households living in fuel poverty could reach the highest level on record by this spring, unless the government passes the blow of a looming record hike in energy bills, according to a charity against fuel poverty. Around 4 million homes in the UK were already classified …
Read More »Main news of the day: poll panel declares parties against postponement of UP Assembly elections; Center reports Maharashtra, Bengal, Delhi as states of concern for COVID-19 cases, and more
Today’s news headlines, and more. All of Uttar Pradesh’s political parties were in favor of holding the 2022 Uttar Pradesh Assembly elections in accordance with the timeline following the COVID-19 protocol, Chief Election Commissioner Sushil Chandra said. However, guidelines on the management of large electoral rallies or on the need …
Read More »AzerGold increases gold and silver production in 2021
December 28, 2021 12:29 p.m. (UTC + 04:00) 423 By Ayya Lmahamad Azerbaijani AzerGold CJSC board chairman Zakir Ibrahimov said the company increased gold production by 2% in 2021, Trend reported. He noted that AzerGold has produced 61,500 ounces of gold since early 2021. It should be noted that last …
Read More »Excise department launches old regime to settle VAT cases: The Tribune India
Ambika Sharma Tribune press service Solan, December 23 In an effort to settle 1.68 lakh outstanding value added tax (VAT) and central sales tax (CST) business, the state tax and excise department approved the program. Himachal Pradesh Swarn Jayanti (Legacy Case Resolution) 2021. Various stakeholders and dealers, who have been …
Read More »Brexit news: UK exporters rampage against EU bureaucracy “Lack of understanding is shocking” | City & Business | Finance
Overall, 45% of businesses reported problems, according to data from the British Chambers of Commerce (BCC). In January 2021, VAT and customs controls on UK goods entering the EU were introduced as part of the UK-EU Trade and Cooperation Agreement (TCA). The second part of UK border controls on incoming …
Read More »Hospital linked to Kakamega tycoon gets stay in tax dispute
Companies Hospital linked to Kakamega tycoon gets stay in tax dispute Wednesday 22 December 2021 Cabinet Secretary of Health Mutahi Kagwe. PHOTO | FRANCIS NDERITU | NMG By CONSTANT MUNDAMore from this author Summary Health Secretary Mutahi Kagwe successfully asked his Treasury counterpart Ukur Yatani to exempt Hamptons Hospital from …
Read More »Prudent tax strategy key to making Dubai the world’s largest diamond hub – News
Diamonds, gold and jewelry have been key industries in finding a home in the UAE thanks to its location, infrastructure, transparency, ease of doing business and tax regulations. By Ahmed Ben Sulayem Posted: Sun Dec 19 2021, 22:37 Last update: Sun Dec 19 2021, 22:58 In a letter to French …
Read More »Customs Grant Suspicious Naira 79 Billion Import Waivers, Snub Auditor General
the Nigerian Customs Service in 2019, granted import duty exemptions worth 78.5 billion naira to local and foreign companies, including 14 foreign ministry staff, in violation of financial regulations, revealed the government’s audit report. The agency granted a waiver of 78.5 billion naira for businesses and 17.2 million naira for …
Read More »Permanent capacity building law likely requires tax hikes for the middle class
The Congressional Budget Office (CBO) gave us a glimpse of our budgetary future under the Build Back Better Act (BBBA), estimating that if all the policies in the bill were made permanent, $ 3 trillion would be added to the budget. national debt over the next 10 years. This adds …
Read More »Ninety days to change VAT pricing
• 90-day transition for the retail price review ‘nightmare’ • Super Value leaders fear that the duration will “shorten” it • Hotel problem: new rate for the “busiest day of the year” By NEIL HARTNELL Editor-in-chief of the Tribune [email protected] Retailers have been given a 90-day transition period to deal …
Read More »New income tax law should free taxpayers from harassment
Businessmen said yesterday that the government should formulate a new income tax law in an attempt to iron out any trust issues between taxpayers and taxpayers. The tax administration should also seek the advice of all stakeholders before finalizing the tax bill, they added during a discussion. For all the …
Read More »KRA launches new generation of postage stamps to fight counterfeits
The Kenya Revenue Authority (KRA) has deployed a new generation of excise stamps for excise goods as part of its strategy to continually review and improve the security features of excise stamps in order to deter counterfeiting. The excise goods covered include alcoholic beverages, tobacco and tobacco products, water, soft …
Read More »MPC to announce start of policy standardization in February
The December Policy Review is expected to see the Monetary Policy Committee (MPC) and the Reserve Bank of India (RBI) maintain the status quo on interest rates and the stance of monetary policy, while changing the tone to prepare the markets for a change in February. In October, the MPC …
Read More »Guatemala | implementation of customs services reasonable doubt digital system for customs valuation of goods
November 29e, 2021, resolution SAT-IAD-005-201 was published in the Official Gazette, by which the Superintendence of Tax Administration (SAT) through the customs steward agreed to regulate the guidelines and conditions Customs service’s digital use in relation to procedures that are carried out by means of electronic documents that support the …
Read More »Country specific updates: Poland – Lexology
VAT groups in Poland (the so-called Polish agreement) As of January 1, 2022, Poland will allow the formation of VAT groups. This option will be available for taxpayers who: (i) are entities based in Poland or Polish branches of foreign companies; (ii) enter into a VAT group agreement for min. …
Read More »In Kerala’s Hands, But Out Of Its Reach – The New Indian Express
Express news service THIRUVANANTHAPURAM: The challenges posed by the new, post-GST tax regime have added to the pressure on Kerala’s economy. There are fears that the ailing state’s finances will hit bottom if the GST compensation ends on the original deadline of June 30, 2022. Union Finance Minister Nirmala Sitharaman …
Read More »Bullock cart protests, fuel prices and TN parties
Chennai: Tamil Nadu’s BJP, which was once on the defensive against high gasoline and diesel prices, has now turned offensive against the state government led by Chief Minister MK Stalin. The party staged an oxcart demonstration on Friday against the state government’s refusal to cut its value-added tax (VAT) on …
Read More »Author Judith Fertig unveils her Easy Bread cookbook, just in time for the holidays
Conductor and author Judith Fertig. // Photo by Julia Shapiro If you’re a gluten glutton, the next five weeks are your Super Bowl. We are talking about loading up on hearty carbohydrates. Bring bread rolls, pastries, rolls and other sundries. Easy bread. Judith Fertig, local cookbook author (and Renaissance woman) …
Read More »Nowhere to go as KRA installs VAT system to catch tax cheats
KRA’s iTax offices on Mombasa Road. Suppliers of electronic tax records have been urged to cease supplying non-compliant gadgets. [Edward Kiplimo, Standard] There is nowhere to hide for tax evading traders. This is after the Kenya Revenue Authority (KRA) gave a timeline for the implementation of a new electronic ledger …
Read More »El Salvador announces its intention to build a so-called “Bitcoin City”
The President of El Salvador has announced an ambitious plan to build a so-called “Bitcoin City” in which cryptocurrency will be the only legal tender. President Nayib Bukele made the announcement on Saturday evening, saying the new city would be fully fledged. The city will include residential and commercial areas, …
Read More »I do not see a significant difference in the grocery bill | Letters to the Editor
I’m still looking for a tangible drop that I can celebrate on my grocery bill, with the recently announced removal of VAT on certain items. The reality is this: the government cannot force anyone to sell its products at a fixed price. As a layman with limited knowledge of these …
Read More »I bought a £ 315 returns pallet – received £ 1.7,000 worth of ‘broken’ products
A WOMAN has revealed she bagged items worth £ 1.7,000 after purchasing a return pallet of household items. Taz, who has 1.52 million YouTube subscribers on his ClickForTaz channel, shared his incredible journey in a recent video. 4 Taz was surprised at how many “broken” items were actually perfectly fine.Credit: …
Read More »EU official says UK protocol demands ‘unachievable’
A senior EU official has said the UK’s demands for the Northern Ireland Protocol, as spelled out in its July document, are “unachievable”. The UK’s Command Paper calls for a radical renegotiation of the protocol, including the abolition of the European Court of Justice (ECJ). “We have always made it …
Read More »VAT and digital platforms facilitating the provision of services: Acting in your own name?
ECJ ruling will impact the sharing economy It is likely that we will soon have the decision of the European Court of Justice (ECJ) on the Fenix case (C-695/20). The question put to the ECJ by the United Kingdom aims to determine whether the provisions of Article 9a of the …
Read More »18 states, 6 UT reduce fuel taxes. Read on to find out the prices in your city.
States that have not reduced VAT on gasoline and diesel are Maharashtra, Tamil Nadu, West Bengal, Punjab, Telangana, Andhra Pradesh, Kerala, Jharkhand, Chhattisgarh and Delhi . The price of gasoline in Delhi, after the reduction of excise duties, amounts to Rs 103.97 per liter and diesel to Rs 86.67. In …
Read More »Delayed UK border checks increase risk of smuggling and trade disputes
The UK government will face “significant challenges” in preparing the country’s borders for the introduction of full customs controls on EU imports next year, the government spending watchdog has warned. In a report on the state of Britain’s borders after the Brexit transition period, the National Audit Office said the …
Read More »[EDITORIAL] Calls for tax reforms
In 2020, Lagos generated nearly 420 billion naira in internal revenue, more than three times its closest rival, Rivers State. It is no coincidence that the state systematically tops the list of states in internally generated revenue (IGR). It turned out to have the most efficient and competent tax collection …
Read More »Malaysia needs GST to deal with coming turbulence, experts say
KUALA LUMPUR (November 1): Malaysian Economic Association (MEA) Post-Budget Dialogue 2022 panelists argued for the reinstatement of the Goods and Services Tax (GST) or the inclusion of a similar tax structure in the current tax system to broaden the government’s tax base to prepare for the turbulent times ahead. During …
Read More »FTA amends law to avoid double taxation of VAT – News
The new law entered into force on October 30, 2021 The FTA said the latest ruling was aimed at avoiding double taxation of VAT on goods supplied in designated areas and to facilitate procedures for non-resident suppliers operating in designated areas. – Photo file Relative to staff Posted: Sat, Oct …
Read More »Gap between UK and EU on protocol remains ‘substantial’ after latest talks
The distance remains “substantial” between the UK and the European Union in their attempt to find a resolution on the Northern Ireland protocol, the government said. Brexit Minister Lord Frost and European Commission Vice President Maros Sefcovic met in London on Friday to continue trying to find a solution on …
Read More »Court of Justice – Lexology
In Boehringer Ingelheim RCV GmbH & Co KG Magyarorszagi Fioktelepe (C-717/19), the taxpayer was a pharmaceutical company that marketed state-subsidized drugs to wholesalers. The wholesalers in turn sold the drugs to pharmacies who sold them to patients. The Hungarian public health insurance body operated a “purchase price subsidy” system whereby …
Read More »BUSINESS LIVE: Oil prices hit a three-year high; Sunak excludes a VAT cut
BUSINESS LIVE: Oil prices hit a three-year high; Sunak excludes VAT reduction; Tesla exceeds market cap by $ 1 billion By Mike Sheen for This Is Money Posted: 02:23 AM EDT, October 26, 2021 | Update: 10:16 a.m. EDT, October 26, 2021 Oil prices hit a three-year high on Monday …
Read More »Rising fuel prices leave Amritsar traders dizzy: The Tribune India
Tribune press service Amritsar, October 24 Traders, manufacturers and their representative organizations asserted that the cost of raw material inputs increased after the increase in the prices of fossil fuels and coal. They believed that the high cost of raw materials had affected their business. Punjab Pradesh President Beopar Mandal …
Read More »GST Law Should Not Treat Defaulting Suppliers and Innocent Au Pair Buyers
Since last year, the GST Department has started issuing notices to assessors. By Santosh Dalvi and Kishore Purohit Recently, India’s Goods and Services Tax regime, which has brought about a transformational change in the country’s overall tax structure, has enjoyed four years of success. While there were some initial hiccups …
Read More »Late invoices do not void the right to deduct VAT, ECJ rules
By Joseph Boris (Oct 21, 2021, 6:27 p.m. EDT) – Shallow and late invoices from a supplier do not negate a company’s right to deduct value-added tax and claim a refund, the most recent said on Thursday. high court of the European Union. in a decision in favor of a …
Read More »Keep up to date with eFPS tax return updates
In the past four years, two major tax reform measures – the TRAIN law and the CREATE law – have been enacted. TRAIN entered into law in December 2017 and CREATE in March 2021. The reforms reduced personal and corporate tax rates. How prepared are we to implement the reforms …
Read More »A guide for business owners
“VAT” on heaps of coins Value Added Taxes (VAT), which are a type of consumption tax, are major sources of revenue for the countries of the Organization for Economic Co-operation and Development (OECD), among other regions. According to the Tax Foundation, VAT actually contributed one-third of tax revenues in OECD …
Read More »JMC on Mandatory Elderly / Disabled Online Prepared Discounts – Manila Newsletter
Online purchases and phone call / SMS orders of seniors (SC) and people with disabilities (PWD) must benefit from the mandatory discounts provided by law, according to two Joint Circulars (JMC) prepared by government agencies led by the Department of Trade and Industry (DTI). (MANILA BULLETIN FILE PHOTO) The last …
Read More »Food prices are in the hands of the seller | Letters to the Editor
The price of anything sold in any establishment is in the hands of the owner. You can remove VAT and all other charges on a commodity, but it’s now up to the owner of that business to adjust their prices.No one can order him to. (As far as I know, …
Read More »Higher costs on goods are here to stay, SAIT
Market analysts do not see any improvement in the cost of goods in the next period and until the first half of 2022. In fact, Cyprus is one of the most affected countries compared to other countries, due to its strong dependence on imports of products and raw materials, 95% …
Read More »A Party Budget Commentary | Local company
The Minister of Finance has spent an inordinate amount of time talking about the impact of Covid-19 on society and the economy. Finance Minister Colm Imbert suggested, without saying so, that with the fall in prices and output in the energy sector and the resulting reduction in retained foreign currencies, …
Read More »FTA calls on Expo 2020 Dubai attendees to benefit from VAT refund program
The FTA has established a daily direct communication channel with the Expo 2020 Dubai International Participants Office to improve coordination and ensure timely processing of participant requests, whether they are VAT registration requests. by participating countries, or processing reimbursement requests, as well as responding quickly to their requests, he added. …
Read More »An Post now sees firsthand the Brexit pressure on UK businesses
A recent Royal Mail business update gives us some very interesting insight into the situation for UK small businesses with Brexit. In the five months to August 2019, the Royal Mail recorded 111 million international parcels. (In total, the UK Postal Service handled 520 million packages, but 409 million of …
Read More »A Canadian Tax Expert’s Perspective on GST / HST and Fictitious Importers – Tax
GST Taxation on Imports and Input Tax Credits Anyone required to pay a duty on the importation of goods into Canada under the Customs Act or who would be liable to pay duty if the goods were subject to duty is liable to pay Goods and Services Tax (“GST”) on …
Read More »Poor leadership, dysfunctional structure fueling succession turmoil – Atsegbua
By Gabriel Enogholase Lawrence Atsegbua, SAN, is Professor of Law at the University of Benin. He is also a former Dean of the University’s Faculty of Law. In this interview, he discussed the inheritance turmoil in parts of the country and the factors that fuel them. He also spoke about …
Read More »Don’t count price increases on zero-rated foods
New Ria chaitram 2 hours ago Rhaynnet Jimehez checks the price of a canned food item at a supermarket in Port of Spain on Monday. – PHOTO BY ROGER JACOB Although the government announced a list of food products that would be zero-rated effective November 1, that does not mean …
Read More »The economic structure remains in place | Local company
A national budget is, in a sense, nothing more than a snapshot of a country’s fiscal position and a short-term forecast of the future. It can also be seen as an opportunity for national reflection on longer-term trends and a focal point for discourse on what it would mean to …
Read More »Marketers predict tougher privacy regulations in 2020 [report]
Ahead of International Data Privacy Day, privacy-focused marketing is at the center of the policy chapter of Warc’s 2020 Toolkit, which takes an in-depth look at regulatory factors affecting marketing activity and offers a how-to guide. and evidence-based for marketers. for the coming year. Image source: Gallo / Getty Images. …
Read More »Inflation in Germany exceeds 4% for the first time since 1993
Inflation in Germany rose 4.1% year-on-year in September 2021, the first time it broke the 4% mark in nearly 28 years. Inflation in Germany hits its highest level in 28 years Inflation in Germany exceeded 4 percent for the first time since 1993 in September, according to new figures from …
Read More »Bahrain VAT hike to reduce budget deficit and improve chances of sustaining GCC support
Bahrain last week announced plans to raise the VAT rate to 10%, from 5% from January 2022, which analysts say is a good move in its tax reform efforts. Image Credit: Istockphoto Dubai: Bahrain last week announced plans to raise the VAT rate to 10% from 5% from January 2022, …
Read More »FinTech Stripe on a hiring wave to fill its first Canadian office in Toronto
San Francisco-based fintech company Stripe announced will soon be opening its first Canadian office in downtown Toronto, Ontario, and recruiting for positions in engineering, product development and sales. The company will host a virtual event on October 13 to share more details about its new office and the positions it …
Read More »Randall Castillo Ortega discusses management control in foreign trade operations
There are a number of actors involved in foreign trade operations ?? buyers, importers, suppliers, exporters, carriers, shipping companies, customs brokers, freight companies, warehouses, terminals, insurers and more. Each of them represents a link in the logistics chain, and each plays an important role. Randall Castillo Ortega, expert in import …
Read More »Still on the VAT debate | The cable
The Rivers State Government’s decision on who should take the Value Added Tax (VAT) has once again exploited and exacerbated our fault lines in the country. Normally this should be a good decision whereby we have to test some of our laws in the courts. As the Rivers State government …
Read More »Ulster trade unionists declare opposition to Northern Ireland protocol
Northern Ireland trade unionists argue that the Northern Ireland Protocol “fundamentally changes” the Belfast Agreement, also known as the Good Friday Agreement. Four Unionist leaders from Northern Ireland signed a joint declaration to “affirm our opposition to the Northern Ireland Protocol, its mechanisms and structures and reaffirm our unalterable position …
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