Category Taxation In Europe

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...

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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...

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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...

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UK Urged to Legalise Marijuana, and Enjoy Tax Revenues

June 5, 2018 Taxation in UK

marijuana legalisationLONDON – If the UK legalized and taxed marijuana, it could use its new tax revenues to cover some of the significant costs of the national healthcare system.

A new report released by the international development organization Health Poverty Action (HPA) is calling on the government of the UK to legalize and regulate the market for recreational and medical marijuana and to use the ensuing tax revenues to fund the national healthcare system.

The researchers at the HPA claimed that many countries in the world are turning towards legalization, and that “…prohibition has failed”.

If legalization and regulation were to take place, and the taxation of marijuana sales was similar to the taxation of alcohol or tobacco, the estimate for the arising tax revenues is between GBP 1...

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Tax Freedom Day Has Fallen in the UK

May 30, 2018 Taxation in UK

Tax Freedom Day UKLONDON – The time it takes the average taxpayer to cover their tax bill has shrunk since last year, however, the government is still outspending its own incomes.

Each year the UK think-tank, the Adam Smith Institute, calculates and publicizes the date of Tax Freedom Day, which will fall on May 29th in 2018.

Tax Freedom Day is a commonly used theoretical measure aimed at illustrating the extent of the tax burden in a country.

The date is calculated through examination of total tax receipts expected to be seen in a country and the total production in the same country, all over the course of the same year.

Tax Freedom Day is commonly described as the date at which taxpayers will have earned enough to pay their annual tax obligations, and will be able to start working for themselves.

In thi...

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