Consumption Tax tagged posts

Meat Tax on the Way

December 12, 2017 International Tax Cooperation

taxing meatLONDON – Meat production is too damaging to the environment to remain untaxed.

In a press release issued on November 11th, the investor advocacy group Farm Animal Investment Risk and Return (FAIRR) warned that there is a very high chance that governments around the world will introduce a tax on meats in the near future.

The group claimed that the likelihood of a tax on meat will increase with the global implementation of the Paris Agreement, which will place stringent requirements on environmentally damaging practices and substances.

The impact of the Agreement may be to increase the effective cost and difficulty of raising animals for meat.

It was argued that it is becoming “increasingly probable” that some governments will choose to tax meat in a similar fashion to sugars, tobacco, or ...

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UAE Opens Tax Agent Registration

November 27, 2017 Taxation in UAE

VATABU DHABI – UAE’s VAT registrations are speeding up, with tax agents now being able to be officially registered.

Over the weekend the Federal Tax Authority of the United Arab Emirates opened up the process of registration for tax agents in the country.

The UAE will enact a Value Added Tax on the first day of 2018.

As the profession of tax agent is new in the UAE, the standards for registering as a tax agent has not been set in stone, and, currently, the only requirement is a Bachelor- or Master-level degree in tax, accounting or law from a “recognized educational institute”.

The VAT implementation process in the UAW has been progressing rapidly, as only weeks ago the registrations for businesses were opened up.

The FTA has stated that businesses must register for VAT by December 3rd, ...

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Singapore Eyes Online Shopping GST

November 23, 2017 Taxation in Singapore

Online shopping taxSINGAPORE – Singapore’s rising government expenditure may soon be financed by a tax on online purchases.

As the spending needs of the government of Singapore grows, authorities may soon look into re-working the current legislation on the collection of Goods and Service Tax.

Currently, any goods or services purchased by a taxpayer from Singapore from an international online retailer, are not liable for GST, unless the cost exceeds SGD 400.

Some experts have suggested that the government may lower the threshold in order to capture more transaction under the net of GST.

While the government has not given any indication of how exactly the changes will work.

However, it is expected that the changes will either require merchants to register for GST in Singapore and collect taxes on behalf of ta...

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New Zealand Confirms GST on Online Shopping

November 15, 2017 Taxation in New Zealand

129624134WELLINGTON – All online purchases in New Zealand will soon be liable for a 15 percent tax.

The new Revenue Minister of New Zealand Stuart Nash has confirmed that the country will start collecting Goods and Service Tax on all online purchases.

Currently, any online purchase made from an overseas retailer are not levied with the country’s 15 percent GST, if the purchase price is less than NZD 400.

The tax is typically collected at the border, as the goods come into the country.

The government now hopes to enact a tax on all goods coming into the country, regardless of the price.

The new measure is meant to level the playing field between local retailers who have to pay the tax, and foreign businesses which can ignore the charge.

Retail NZ, an advocacy group for businesses in New Zealand,...

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Canada’s Pot Tax Will Fund Education

November 14, 2017 Taxation in Canada

Marijuana TaxOTTAWA – Canada’s tax on legal marijuana will help stamp out the illegal drug trade, while also potentially raising funds for public education about the harm caused by drugs.

On November 13th a Minister of Parliament of Canada Bill Blair called for the tax revenues from the country’s upcoming legalization of marijuana to be used to fund public education about the drug.

Under the current plan for the legalization of marijuana, the federal government intends to levy a tax on the sale of marijuana, with a rate of 10 percent of the retail price of marijuana or CAD 1 per gram, whichever is higher.

It is believed that the tax could garner tax revenues of as much as CAD 1 billion per year.

The MP claims that the government has a responsibility now of ensuring that Canadians know and underst...

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