Category Taxation In Europe

Sugar Tax Forces Coke Downsize

January 16, 2018 Taxation in UK

Coke taxLONDON – The UK’s upcoming sugar tax will see Coca-Cola downsize their drinks, hoping to mitigate the impact of the tax on consumers and their own bottom line.

The UK arm of Coca-Cola has announced that it will be downsizing the size of its drinks, as a direct response to the extra tax to be levied on the sale of sugary drinks in the UK.

From April this year, all sugar-sweetened beverages sold in the UK will be subject to a tax of GBP 0.18 per litre, if the drink has more than 5g of sugar per 100ml, while drinks with more than 8g of sugar will face a tax of GBP 0.24 per litre.

The government hopes that the tax will lead to total tax collections of GBP 520 million per year, with the funds already earmarked to pay for sports programs in public schools.

Coca-Cola have stated that they do n...

Read More

Estonia Upsets Truckers With Digital Taxes

January 15, 2018 Taxation in Estonia

Estonia truck taxTALLINN – While many laud Estonia’s push for a digital government, some truck drivers are now claiming that the movement is interfering with their work.

According to the head of the Association of Estonian International Road Carriers, Einar Vallbaum, the country’s lack of road tax filling stations is a significant weakness in the national tax system which is leading to non-compliance.

On January 1st 2018 Estonia reformed the road taxes applied to trucks travelling through the country, meaning that all trucks with a weight in excess of 3.5 tons need to pay a tax.

However, along with the change, the government ceased the use of road-side filling stations which allowed drivers to pay for their daily or annual tax obligation, while also receiving a sticker showing that the tax is paid.

Th...

Read More

Electric Cars Make Up Half of Norway’s Car Sales

January 4, 2018 Taxation in Norway

tesla tax norwayOSLO – Teslas and other electric cars are enjoying unprecedented levels of sales in Norway due to the country’s tax break.

New data published by the government of Norway shows that more than half of all car sales in the country in 2017 were electric and hybrid cars.

The level of sales of the environmentally friendly cars was attributed to the tax breaks offered on the sale of electric and hybrid vehicles, and the raft of subsidies offered to owners of such vehicles.

Approximately 52 percent of all new cars sold were hybrid and electric cars, marking the first time that electric vehicles held a higher portion of the market than conventional petrol vehicles.

Norway is often regarded as a good example of pushing for more electric cars to be bought, with sales and take up far exceeding the r...

Read More

Italy Halves Web Tax Proposal

December 20, 2017 Taxation in Italy

Italian web taxROME – Italy is persevering with its plan to impose a web tax, although the rate of the tax has been dropped.

On December 19th the lower house of Italy amended the country’s 2018 budget bill, lowering the rate of the proposed “web tax”.

Italy had previously proposed that a new tax is introduced on internet transactions, levied at a rate of 6 percent of the value of the transaction.

The rate has now been dropped to 3 percent.

The new tax will be levied on the sale of “intangible digital products” namely services such as online advertising and sponsored links.

The measures are expected to hit a number of internet giants, such as Google and Facebook, which see a significant portion of their incomes coming from advertising.

The tax will not apply to all sales, and will only be pai...

Read More

Big Businesses Paying Big Taxes in the UK

December 6, 2017 Taxation in UK

Micro-writingLONDON – The biggest businesses in the UK saw increased income tax last year, despite a fall in VAT payments and tobacco duties.

The 100 biggest companies in the UK saw their income tax bill rise by a third last year, according to information released by The 100 Group, which represents these major businesses.

The corporate tax payment due by the big businesses rose to a level of GBP 6.4 billion for the year to March 2017.

The corporate tax bill is approximately one third higher than it was in the previous year.

The increase was attributed to higher than expected profits, and the implementation of a surcharge on banking profits.

Despite the increase in the level of corporate income tax, the overall taxes collected from the large businesses did not rise, as the level of collections of VA...

Read More