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  1. Only showing results from news.bloombergtax.com

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  2. news.bloombergtax.com

    Tax authorities are pushing for real-time access to companies' sales data using new technology to track value-added tax payments, leaving some businesses scrambling to meet their demands. Nearly 80 countries already have requirements for companies to use some form of e-invoicing for reporting taxes on business transactions involving sales of ...
  3. news.bloombergtax.com

    Due to the Covid-19 pandemic and the associated economic crisis, countries will see different impacts on their capacity to raise revenue, depending on the structure of their tax system. As in the financial crisis of 2007-08, consumption tax revenues, such as value-added tax (VAT), will likely rebound first even as incomes remain suppressed.
  4. news.bloombergtax.com

    Dec 4, 2024Poland's Council of Ministers adopted a draft bill meant to streamline the country's value-added tax rates four years after the government reformed its goods and services tax system. In a press release Tuesday, the Ministry of Finance said the new act extends the 8% VAT rate for medical devices introduced under the Medical Device Act, a law that placed restrictions on the advertisement of ...
  5. news.bloombergtax.com

    Dec 27, 2023New York has adopted regulations implementing what it called "the most extensive restructuring of New York State's corporate tax framework since the 1940s" and finalizing a nearly decade-long process.. The state Department of Taxation and Finance on Wednesday submitted the adopted rules for publication in the State Register, providing details on how to calculate corporate taxes under the ...
  6. news.bloombergtax.com

    Dec 6, 2024Thailand's Prime Minister Paetongtarn Shinawatra ruled out any immediate move to increase the value-added tax after a proposal by the finance minister to more than double the levy drew criticism from the opposition and a key member of the ruling coalition.. The tax will not be raised to 15%, Paetongtarn said in a post on X on Friday, after discussing the issue with Finance Minister Pichai ...
  7. news.bloombergtax.com

    Oct 31, 2024The European Commission's value-added tax reform proposals, known as VAT in the Digital Age, or ViDA, had stalled due to opposition by Estonia. The country raised concerns with the proposed rules imposing VAT on certain platform operators that facilitate supplies of short-term accommodation or passenger transport.
  8. news.bloombergtax.com

    Nov 5, 2024European Union finance ministers Tuesday hailed an agreement on a value-added tax reform as a significant step in adapting tax systems to digital technologies.. The three-part reform, known as the VAT in the Digital Age (ViDA) package, would "update our VAT systems to reflect the digitalization of our economies, help combat VAT fraud, and ease administrative obligations for small companies ...
  9. news.bloombergtax.com

    To narrow the fiscal imbalance, we should follow the lead of 160 other countries by adopting a value-added tax (VAT), a consumption tax that is economically similar to a retail sales tax. The federal debt now stands at 98% of annual GDP, a ratio previously reached only during World War II.
  10. news.bloombergtax.com

    European Union countries signed off Monday on a rule that will exempt Covid-19 vaccines from value-added tax through the end of 2022. Skip to content Bloomberg the Company & Its Products Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Terminal Demo Request
  11. news.bloombergtax.com

    Oct 31, 2024Hungary has brokered an agreement between European Union countries on a value-added tax update for the bloc, clearing the way for its formal approval by finance ministers at a Nov. 5 meeting. "After long discussions, a new compromise has been found with staged deadlines," for implementing the new rules, an EU official told reporters ...

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