Category Taxation In Europe

Brexit May Spoil Your Next Holiday

August 8, 2018 Taxation in UK

Travel Company Taxes After BrexitLONDON – If the UK follows through with Brexit, it may spoil people’s holiday plans.

In a press release issued earlier this week, Seasonal Businesses in Travel (SBIT), a UK-based travel industry advocacy group, claimed that the cost of holidays will increase following Brexit.

The cost increases were attributed to the fact that following an exit, UK companies with staff overseas will no longer be able to use UK staff during peak seasons.

The need to employ EY staff will mean that employers will need to pay local employment taxes, which are in many cases more onerous than their UK equivalents.

SBIT claims that following an exit, the costs felt by holiday companies will rise by as much as 58 per cent.

In addition to the increasing costs, the companies will reduce the number of UK workers ...

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Germany Wants to Catch Online Tax Dodgers

August 1, 2018 Taxation in Germany

ebay taxBERLIN – Germany is targeting online traders from China who sell to goods in Germany but do not pay any tax.

The government of Germany is proposing new measures which would see the burden of ensuring tax compliance online shifted to the likes of Amazon and Ebay.

The new measure would require online commerce platforms to become responsible for ensuring that third-party traders meets their VAT obligations for trades and sales which occur in Germany.

The proposed rules would require platforms to collect information about the third party traders, which could then be passed to tax authorities, who will investigate whether the traders are meeting their obligations.

Further, any noncompliance with requirements could then become liable for any tax dodging by traders.

The requirements would appl...

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UK Tax Burden Reaches Historic High

July 30, 2018 Taxation in UK

tax burdens in the UKLONDON – Taxpayers in the UK are paying the highest taxes in since the 60s, and the government looks keen to raise tax burdens even further.

Last week the UK think-tank the Taxpayers Alliance issued a new report which showed that the tax burden faced by individuals in the country is now higher than it has been in decades.

Currently, the amount of taxes collected by tax authorities in the UK is equivalent to approximately 34.3 percent of the national GDP.

The current tax burden level is the highest since 1969-70 when the tax burden reached a level of 35 percent.

The increased tax burden is a product of increased funding needs in key areas such as the national health system, along with mounting pressure from areas such as education and military spending.

The Taxpayers Alliance notes that ...

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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...

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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 ...

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