Tag #Vat

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dw.com

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Sep 26, 01:14

Russia Increases VAT to Fund War Effort

Starting in 2026, Russia will raise its VAT from 20% to 22%, broadening the tax base to address a projected budget deficit of 4.6 trillion rubles and increased military spending, despite earlier government denials.

Russia Increases VAT to Fund War Effort

Starting in 2026, Russia will raise its VAT from 20% to 22%, broadening the tax base to address a projected budget deficit of 4.6 trillion rubles and increased military spending, despite earlier government denials.

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What is the primary reason for Russia's VAT increase and what are its immediate consequences?

Russia's VAT increase, from 20% to 22% in 2026, primarily aims to cover a projected 4.6 trillion ruble budget deficit resulting from increased military spending and slower economic growth. This will lead to higher prices for consumers as businesses pass on the added costs.

dailymail.co.uk

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Aug 30, 01:16

UK Treasury Considers £2 Billion Tax Hike on Small Businesses

The UK Treasury is exploring a £2 billion tax increase on small businesses by lowering the VAT registration threshold from £90,000 to potentially £30,000, a move opposed by business leaders but supported by key Treasury officials.

UK Treasury Considers £2 Billion Tax Hike on Small Businesses

The UK Treasury is exploring a £2 billion tax increase on small businesses by lowering the VAT registration threshold from £90,000 to potentially £30,000, a move opposed by business leaders but supported by key Treasury officials.

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What are the potential long-term consequences and critical perspectives on this policy proposal?

While increasing tax revenue is the immediate goal, lowering the VAT threshold could negatively impact economic growth in the long run. The increase in costs and administrative burdens for small businesses could stifle entrepreneurship and job creation, potentially offsetting any gains in tax revenue. Furthermore, the opposition from business groups highlights concerns about the policy's potential detrimental effects on the UK economy.

zeit.de

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Aug 9, 07:17

\"German Restaurants Face Revenue Drop Amidst Rising Costs and Changing Consumer Behavior\"\

German restaurants are struggling this summer with an 18 percent revenue drop compared to 2019, due to reduced customer spending, increased operating costs (minimum wage up almost 40 percent in five years), and a high 19 percent VAT rate compared to other European countries. This is affecting lunch ...

\"German Restaurants Face Revenue Drop Amidst Rising Costs and Changing Consumer Behavior\"\

German restaurants are struggling this summer with an 18 percent revenue drop compared to 2019, due to reduced customer spending, increased operating costs (minimum wage up almost 40 percent in five years), and a high 19 percent VAT rate compared to other European countries. This is affecting lunch ...

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How do increased minimum wage and VAT rates contribute to the financial difficulties faced by German restaurants?

The decline in restaurant revenue is linked to several factors. Reduced customer spending (shorter stays, fewer extras) combines with increased operating costs (minimum wage, VAT). This is impacting businesses across Germany, leading to reduced opening hours or closures in some cases. The situation is worsened by the high 19 percent VAT rate compared to other European countries.

kathimerini.gr

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Jul 23, 01:12

Greek Council of State Rules on Tax Deduction Order and VAT on Gifts

The Greek Council of State (StE) ruled on tax deduction order under the previous and current Income Tax Codes, clarifying that foreign taxes paid under a DTAA are now prioritized, impacting corporate tax calculations; it also rejected a 1% turnover threshold for deducting input VAT on small gifts an...

Greek Council of State Rules on Tax Deduction Order and VAT on Gifts

The Greek Council of State (StE) ruled on tax deduction order under the previous and current Income Tax Codes, clarifying that foreign taxes paid under a DTAA are now prioritized, impacting corporate tax calculations; it also rejected a 1% turnover threshold for deducting input VAT on small gifts an...

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How did the Council of State rule on the 1% turnover threshold for deducting input VAT on gifts under €10, and what are the implications for businesses?

The StE decision clarifies the precedence of tax deductions in Greece, impacting corporate tax calculations. Foreign tax credits under DTAAs are now prioritized under the current law, unlike the previous code where they were deducted last. This impacts corporate tax liabilities.

theguardian.com

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Jul 6, 16:12

UK Faces Calls to Scrap VAT on Repaired Electronics

Ministers in the UK face calls to scrap VAT on repaired electronics to cut costs, reduce e-waste, and create a circular economy; this is backed by 25 organizations and could generate over 80,000 jobs by 2040.

UK Faces Calls to Scrap VAT on Repaired Electronics

Ministers in the UK face calls to scrap VAT on repaired electronics to cut costs, reduce e-waste, and create a circular economy; this is backed by 25 organizations and could generate over 80,000 jobs by 2040.

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How might reduced VAT on repaired electronics impact consumer behavior and the growth of the repair economy?

The push to eliminate VAT on repaired electronics is part of a wider effort to create a circular economy. Removing this tax would directly lower prices for consumers, a key factor in choosing refurbished over new products. This initiative is backed by 25 organizations, including major retailers and waste management companies.

bbc.com

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Jun 11, 10:13

Sheffield Cafe's £20,000 Loss Highlights UK Hospitality Crisis

Sheffield's Steel Cauldron cafe, facing closure due to rising costs and reduced spending, highlights the crisis faced by UK small hospitality businesses; owner Rob Downham reports £20,000 losses in six months despite a £30,000 tax contribution.

Sheffield Cafe's £20,000 Loss Highlights UK Hospitality Crisis

Sheffield's Steel Cauldron cafe, facing closure due to rising costs and reduced spending, highlights the crisis faced by UK small hospitality businesses; owner Rob Downham reports £20,000 losses in six months despite a £30,000 tax contribution.

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What immediate, specific actions can the Chancellor take to alleviate the financial strain on small hospitality businesses facing rising costs and reduced consumer spending?

The Steel Cauldron, a Sheffield cafe, lost over £20,000 in the last six months despite contributing £30,000 to the Treasury, highlighting the financial struggles faced by small hospitality businesses. Owner Rob Downham, working for £3/hour, states the business is almost unsustainable due to increased National Insurance, minimum wage, and reduced customer spending.

dw.com

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Sep 12, 10:18

Russia Plans VAT Hike Amid Budget Deficit

Facing a growing budget deficit fueled by military spending, the Russian government is considering raising the Value Added Tax (VAT) from 20% to 22%, with exemptions for essential goods, according to The Bell.

Russia Plans VAT Hike Amid Budget Deficit

Facing a growing budget deficit fueled by military spending, the Russian government is considering raising the Value Added Tax (VAT) from 20% to 22%, with exemptions for essential goods, according to The Bell.

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What are the alternative options considered, and why is a VAT increase favored?

While raising corporate and personal income taxes are possibilities, a VAT increase is preferred because it's the largest source of federal revenue, efficient to collect, and its inflationary impact is less immediate than direct tax increases. Alternatives are not being considered because they won't close the budget gap.

tr.euronews.com

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Aug 9, 13:16

Brexit Spurs British Luxury Spending Shift to EU

Post-Brexit, British luxury spending in the EU surged to €854 million in 2024 from €169 million in 2021 due to VAT-free shopping, impacting UK tourism and luxury sectors negatively.

Brexit Spurs British Luxury Spending Shift to EU

Post-Brexit, British luxury spending in the EU surged to €854 million in 2024 from €169 million in 2021 due to VAT-free shopping, impacting UK tourism and luxury sectors negatively.

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What is the impact of Brexit on British luxury spending and tourism in the EU?

Since Brexit, British shoppers have shifted luxury spending to EU countries due to VAT-free shopping, resulting in a significant increase in sales for retailers in France, Italy, and Spain. Spending rose from €169 million in 2021 to €854 million in 2024.

dailymail.co.uk

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Aug 4, 19:17

54 Private Schools Close After VAT Tax on Fees

Following the implementation of a 20% VAT on private school fees in England in January 2024, at least 54 private schools have closed, placing extra pressure on the state school system and raising concerns about educational equity.

54 Private Schools Close After VAT Tax on Fees

Following the implementation of a 20% VAT on private school fees in England in January 2024, at least 54 private schools have closed, placing extra pressure on the state school system and raising concerns about educational equity.

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How are the closures of private schools affecting the state education system?

The closure of private schools is placing a greater burden on the state school system. The number of pupils in independent schools in England dropped by 11,009 from the previous year, exceeding expectations. This is linked to the new 20% VAT on private school fees introduced in January, causing a ripple effect on the education system.

forbes.com

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Jul 20, 19:12

EU Mandates E-Commerce Sellers to Collect VAT on Imports Starting July 1, 2028

On July 1, 2028, new EU VAT rules will require e-commerce sellers and platforms to collect VAT on imported goods, ending the practice of shifting this responsibility to customers; this change, effective after a July 18, 2025, EU directive, simplifies VAT collection and aims to improve the customer e...

EU Mandates E-Commerce Sellers to Collect VAT on Imports Starting July 1, 2028

On July 1, 2028, new EU VAT rules will require e-commerce sellers and platforms to collect VAT on imported goods, ending the practice of shifting this responsibility to customers; this change, effective after a July 18, 2025, EU directive, simplifies VAT collection and aims to improve the customer e...

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How does the new EU VAT directive address the complexities and inconsistencies of the current system for handling VAT on imported goods?

The EU aims to simplify its complex and inconsistent VAT system for imported goods, which currently offers multiple schemes with varying costs and obligations. The change eliminates the option of shifting VAT collection to customers, improving the delivery experience and addressing inconsistencies.

dailymail.co.uk

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Jun 13, 13:13

High Court Upholds VAT on Private School Fees Despite Human Rights Concerns

A High Court ruling rejected a challenge to Labour's 20% VAT on private school fees, impacting 500,000 pupils, despite acknowledging human rights violations for SEN children lacking EHCPs; the government plans to use the resulting £1.7 billion annually by 2029/30 for public services, now apparently ...

High Court Upholds VAT on Private School Fees Despite Human Rights Concerns

A High Court ruling rejected a challenge to Labour's 20% VAT on private school fees, impacting 500,000 pupils, despite acknowledging human rights violations for SEN children lacking EHCPs; the government plans to use the resulting £1.7 billion annually by 2029/30 for public services, now apparently ...

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How does the government justify the VAT on private school fees, and what are the competing interests at play?

The ruling highlights the conflict between funding public services and protecting children's right to education. While the court recognized the negative impact on SEN children without EHCPs, the decision prioritizes the government's revenue-raising goal of £1.7 billion annually by 2029/30. The government's claim that the tax will fund 6,500 new teachers is now disputed, with the Prime Minister seemingly redirecting funds towards housing.

bbc.com

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Jun 5, 22:15

11,000 Fewer Pupils at English Private Schools After VAT Increase

England's private schools saw an 11,000-pupil decrease this January, following the government's removal of a VAT exemption on private school fees; the government claims this drop is within historical patterns, while private schools say higher fees caused more students to leave than expected.

11,000 Fewer Pupils at English Private Schools After VAT Increase

England's private schools saw an 11,000-pupil decrease this January, following the government's removal of a VAT exemption on private school fees; the government claims this drop is within historical patterns, while private schools say higher fees caused more students to leave than expected.

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What factors beyond the VAT increase could contribute to the observed changes in private school enrollment?

The 1.9% drop in private school enrollment (11,009 pupils) contrasts with the government's prediction of 3,000 pupils needing state school placement this year. This discrepancy, coupled with a 22.6% fee increase in the past year, suggests the VAT removal significantly impacted parental decisions. The overall decline in English school enrollment is influenced by demographic shifts, but the private school drop is notably larger than in the state sector.

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