excise duty tagged posts

UK Needs to Consider Reform of Air Passenger Duty

September 9, 2015 Taxation in UK

LONDON – If the government of the UK doesn’t reduce the rates of air passenger duties, as many as 2.2 million passengers may chose to fly from airports in Scotland and Wales instead of England.

On September 8th the UK’s biggest travel association ABTA called on the national government to begin reducing Air Passenger Duties (APD), with the ultimate goal of abolishing the duty within five years.

The ABTA’s call comes as the government is looking at devolving APD powers in Wales, while the devolution of powers in Scotland is already scheduled.

Currently, the government of Scotland plans to half the rate of the APD when it receives the rate setting powers.

It is estimated that if Wales and Scotland both reduce the rate of APD, then passengers from the UK will be more likely to fly out o...

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Fuel Efficient Cars Lower Tax Take in UK

April 29, 2015 Taxation in EU

LONDON – Tax revenues in the UK are coming under risk due to the consumers’ preference for efficient cars and plug-in vehicles.

According to new information issued by the UK Society of Motor Manufacturers and Traders (SMMT) earlier this week, nearly 70 percent of cars sold in the UK over the course of 2014 had low enough carbon emissions to qualify for an exemption from Vehicle Excise Duties.

Currently, the government grants exemptions from the vehicle excise duty on purchases of cars with emissions levels of less than 130 grams per kilometer.

In 2013 the collection of vehicle excise duties resulted in tax revenues of approximately GBP 6 billion, however, these revenues are coming under threat due to the increasing efficiency of new cars, and the popularity of low-emissions vehicles in th...

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Poland to Hike Excise Duties

November 23, 2011 Taxation in Poland

poland and warsawWARSAW – Polish taxpayers will soon see a price hike for tobacco and fuel products as the government looks to raise excise taxes in order to boost tax revenues.

A new set of legislative regulations were submitted to the parliament of Poland on November 22nd setting out a series of new tax increases on fuel and tobacco products, aimed at quickly raising the country’s tax revenues.

If the bill is approved by parliament, the country will see an increase of 4 percent to the current excise tax on tobacco products. It is estimated that the change will garner an additional PLN 245 million in tax revenues per year.

Fuel excise duties will also be raised, and are expected to bring in an additional PLN 2.2 billion in tax revenues per annum.

Earlier, on November 18th the newly elected Prime Mi...

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Scotland Takes Step to Devolved Tax Power

June 14, 2011 Taxation in UK

George OsborneScotland is stepping closer to a potential future of tax devolution, as the UK government grants Hollyrood an additional set of financial powers and economic responsibilities.

The development came in the afternoon of June 13th, when the UK Chancellor of the Exchequer George Osborne made a speech to the UK parliament, announcing several updates to the Scotland Bill, which sets out Scotland’s financial powers.

The new rules detailed by the Chancellor are regarded as the largest transfer of financial and spending responsibilities between the UK and Scotland since the signing of the Act of Union in 1707. According to estimates, the Scottish government will have nearly GBP 12 billion of extra financial powers once the Scotland Bill completes is legal ratification process.

The latest additio...

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Beer Could Pull UK Out of Recession

March 16, 2011 Taxation in UK

Clover pintPub owners and brewers across the UK are calling for the government to ditch its plans of raising taxes on beer, warning that the extra levies will lead to job losses.

On March 14th the British Beer & Pub Association (BBPA) released the results of a new study on the number of UK taxpayers who rely on the brewing and pub industry for employment, and the potential effects of alcohol taxes on these jobs. The BBPA urged the government to reconsider its upcoming tax hike on beer, as it would have a vast negative impact on employment levels.

Under current UK legislation the rate of tax levied on beer must increase by 2 percent above inflation level every year, meaning that the upcoming rise will increase the tax by 7 percent...

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