Consumption Tax tagged posts

Don’t Forget the VAT, Say UAE Authorities

March 14, 2018 Taxation in UAE

Dubai taxABU DHABI – Businesses in the UAE are being reminded to comply with their new VAT obligations.

The Federal Tax Authority (FTA) of the United Arab Emirates has issued new guidance to all businesses in the area, advising them of their responsibilities as VAT-registered entities.

The main guideline was the reminder that any prices for goods or services displayed, offered, or advertised by the business must be inclusive of all VAT and Excise duties which will be owed on the sale.

The FTA said that not displaying taxes on the sale price is equivalent to misleading consumers.

Any businesses that do not display taxes on its products will be liable to pay a fine of AUD 15 000 per tax which is not already included in the price.

The introduction of VAT in the UAE has hit some minor roadblocks, ...

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UK Mulls the Idea of Gum Tax

March 13, 2018 Taxation in UK

cleaning chewing gumLONDON – Chewing gum costs so much to clean up each year, that the UK government may start taxing it to recoup their losses.

On March 13th the Chancellor of the Exchequer of the UK Philip Hammond is expected to announce the launch of a new public consultation of potential tax measures aimed at eliminating or reducing the spread of single-use plastics.

Taxes on single-use plastic items are an increasingly popular measure around the world, and the UK looks set to join the ranks of countries with similar taxes.

The Exchequer indicated that the consultation will also include discussions on whether any such tax should be levied on chewing gum, which is made up of compounds similar to those seen in plastic products.

Currently, chewing gum is the second most common type of rubbish found on the ...

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Plastic Bag Tax Proposed in Guam

February 19, 2018 Taxation in USA

Plastic bag taxHAGÅTÑA – Plastic bags could soon carry a tax or fee in Guam, both for shoppers and businesses.

Shopping in Guam could become more expensive for fans of the humble plastic bag, as a new bill has been introduced to add taxes for imported bags and those given to shoppers.

Under the scope of the new rules, shops and restaurants which distribute a plastic bag to a customer without charging a USD 0.25 fee will face a fine of USD 500 for the first offence, and a USD 1 000 fine for any subsequent offence.

The businesses themselves would also pay a tax of USD 0.10 per plastic bag imported into Guam.

The tax is not specifically aimed at being a significant source of new revenue, but an incentive for businesses and consumers to wean themselves off their reliance on plastic bags.
The bag tax wou...

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Calls Rise for Sugar Tax in New Zealand

January 17, 2018 Taxation in New Zealand

sugar taxWELLINGTON – New Zealand’s sugar-laden drinks industry is facing calls for a sugar tax to help alleviate the country’s obesity problem.

New research published this week in New Zealand shows that the sugar-sweetened drinks in the country have a much higher sugar content compared to their counterparts in the UK, Australia or Canada, leading researchers to renew their call for a tax on such drinks.

It was shown that approximately 52 percent of drinks purchased in NZ contained sugar, while in the UK, Canada, and Australia the portions were 9 percent, 42.8 percent, and 42.2 percent respectively.

Along with having a high portion of sweetened drinks being sold, the beverages in New Zealand also have a very high sugar content, in some cases being 50 percent more than their overseas alternatives.

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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...

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