Category Uncategorized

Digital Policy Misses the Mark with UK Farmers

April 1, 2017 Uncategorized

Taxes on farmersLONDON – Farmers in the UK are not looking forward to digitizing their taxes, primarily due to their poor internet access.

The four biggest farming unions in the UK, the NFU, NFU Cymru, NFU Scotland and the Ulster Farmers’ Union, have now called on the UK government to reconsider its proposed implementation of the “Make Tax Digital” policy, as many farmers simply do not have access to the internet.

The unions argued that approximately 5 percent of people in the UK do not have access to broadband internet, and many of these people are the farmers who will be negatively impacted by the policy.

It was also noted that these are currently an insufficient number of software providers and programs which are capable of handling the complexity of agricultural taxes, as tax returns for farms ...

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Tobacco Tax Hikes Boosts Smoking in S.Korea

January 25, 2017 Uncategorized

Cigarette taxesSEOUL – While tax hikes on cigarettes are aimed at reducing the consumption of tobacco, it appears that the latest hike in Korea has led people to smoke more.

New information released over the weekend has shown that the number of cigarettes sold in South Korea rose shortly after the government instituted a hike in the rate of tax on the sale of cigarettes.

In 2015 the government of Korea raised the tax on the sale of cigarettes from KRW 2 500 per pack to KRW 4 500 per pack.

The year prior to the implementation of the tax hike, the number of cigarettes sold in the country was approximately 85.3 billion, a 17 percent rise compared to the previous year.

In the year of the price hike the number of cigarettes sold fell to 66.7 billion.

However, in 2016 the amount sold had risen to 72...

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Korea Embracing Digital Tax Payments

January 19, 2017 Uncategorized

Mobile tax payment KoreaSEOUL – The tax authority of Korea are opening new digital avenues for taxpayers to make payments, in order to free up resources to catch tax evaders.

On January 18th, the National Tax Service (NTS) of Korea issued a statement confirming that it is expanding the methods which may be used by taxpayers to make their tax payments.

From now on, the Value-Added Tax declared to the tax authority will be payable via the mobile application released by the NTS last year.

Further, the NTS will work with the Kakao Corp, the operator of the country’s largest mobile messaging and payment platform, to implement new functionality to allow taxpayers to make tax payments directly from the KaKao app.

In addition to the mobile payment options, tax payment will also be able to be made via ATMs around the ...

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Vanuatu Should Raise VAT

July 26, 2016 Uncategorized

Monopoly JusticePORT VILA – Vanuatu needs to hike the rate of value added tax instead of raising income taxes, or else the country could face more difficulty in finding skilled workers.

In a radio interview on July 25th, Martin Hilaire of the Chamber of Commerce of Vanuatu, called on the national government to drop the proposal to raise income taxes, and, instead, hike the rate of value added tax.

Currently the rate of Value Added Tax in Vanuatu is set at 12.5 percent, and Martin Hilaire claimed that it should be raised by 2.5 percent to 15 percent.

It was explained that currently only 26 000 people in Vanuatu are registered for the Vanuatu Pension Plan, indicating that less than 10 percent of the population is included in the tax net.

If income taxes were raised, the burden of the rise would fall squar...

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US Churches Enjoy $71 Million in Tax Breaks

October 20, 2015 Uncategorized

WASHINGTON D.C. – Churches and religious groups in the USA enjoy billions in tax breaks each year, though some researchers claim that such preferential treatment should be ended.

Churches in the USA receive approximately USD 71 billion in tax credits and tax breaks each year, according to the results of new research released on October 16th by the Secular Policy Institute.

The Institute found that each year religious groups receive USD 35.3 billion in federal income tax subsidies and USD 26.2 billion property tax subsidies.

Investment tax subsidies amounted to a total of USD 41 million per year.

Religious organizations also enjoyed approximately USD 6.1 billion in state income tax subsidies, along with USD 1.2 billion of parsonage, and USD 2...

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