Category Taxation In Europe

Returned Church Assets Should be Taxed, Says Czech Communist Party

July 16, 2018 Taxation in Czech Republic

El millor romànic de Praga / Best romanesque in PraguePRAGUE – The Czech Communist Party wants to tax churches for the return of assets originally seized by Communist after World War 2.

A dispute is rising between churches in the Czech Republic and the national Communist Party, as the Party calls for taxes to be applied to the compensation package to be paid to churches around the country.

In 2012 the government struck a deal with churches in the Czech Republic to return assets previously confiscated by the Communist state after World War 2.

As part of the package, any assets which could not be returned would be repaid in as capital over the course of 30 years.

The extent of the assets involved in the agreement is vast, with a value of CZK 75 billion, and include works of art and more than 40 000 hectares, which itself contains vineyards a...

Read More

UK Launches 9 Major Taxes in 10 Years

July 10, 2018 Taxation in UK

Taxes in the UKLONDON – Over the last decade, the UK has decreased its appeal as an investment destination by enacting a series of new taxes.

Earlier this week the UK accounting firm, UHY Hacker Young, issued a new statement which detailed the taxes enacted by the national government over the last 10 years.

Since the 2008 Global Financial Crisis, the government of the UK enacted 9 new taxes, consisting of the apprenticeship levy, the bank levy, the bank surcharge, diverted profits tax, bank payroll tax, enveloped dwellings tax, Swiss capital tax, and the tax on sugar-sweetened beverages.

Cumulatively, the new taxes raised an extra GBP 27.9 billion in tax revenues, over and above what the government already collected from previously enacted taxes.

Commenting on the new taxes, Darren Grimes, Partner at ...

Read More

Ireland, EU’s Most Expensive Drinks

June 22, 2018 Taxation in Ireland

Alcohol in IrelandDUBLIN – Taxes are pushing up the price of alcohol in Ireland, where are drink can now cost more than anywhere else in the EU.

A new report released recently by Eurostat is indicating that Irish consumers pay the highest rates of tax in Europe for alcohol and tobacco.

The new report showed that the price of alcohol and tobacco in Ireland is approximately 174 percent of the standard average price of alcohol in Europe.

Commenting on the findings, Patricia Callan of the Drinks Industry Group of Ireland, said that the high costs can be attributed to the high excise taxes levied on alcohol in Ireland.

She added that “…Ireland has the second highest excise tax rate in the EU, behind only Finland...

Read More

Hungary Taxing Migration NGOs

June 20, 2018 Taxation in Hungary

Migration in HungaryBUDAPEST – Hungary’s government is taking an anti-immigration stance, and looking to tax those helping migrants come into the country.

The government of Hungary has announced that it will be implementing a special 25 percent tax on any NGOs which it says are “organizing immigration”.

The tax will presumably be levied on all aid groups which help migrants come to Hungary, however, the exact details of who will be targeted by the tax have not yet been released.

Further, the mechanism for collecting the tax, or when exactly the tax will come into force have also not been detailed.

The government claims that the tax is needed because defending the nation against illegal migration carries a significant financial burden, which has and will continue to weigh down the national budget.

Quest...

Read More

Tax Freedom Day Falls in Poland

June 7, 2018 Taxation in Poland

Tax Freedom day PolishWARSAW – Tax Freedom Day has come in Poland, and it has arrived three days earlier than last year.

June 6th was the date of Tax Freedom Day in Poland for the current year, according to the latest calculations completed by the think-tank the Adam Smith Centre.

Tax Freedom Day is a symbolic measure of the tax burden faced by taxpayers in any given country.

The date of the Tax Freedom Day is calculated by comparing the total tax burden in a country, and comparing that to the total tax take in the same area for the same timeframe.

Tax Freedom Day is intended to represent the point in time where taxpayers would have earned enough to pay off their tax obligation for the year.

In 2017 Tax Freedom Day in Poland was on June 9th, 3 days later than in 2018.

The movement in the Tax Freedom Day date...

Read More