Richard Asquith
@richard-asquith.bsky.social
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Tax tech chap. Spreading global fiscal chatter
reposted by
Richard Asquith
Sam Lowe
12 days ago
Can the US impose tariffs on some members of the EU and not others? Yes (and there is precedent). Would those tariffs be difficult to enforce? Also yes.
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Check out 2026 Global Vat rate changes
www.vatcalc.com/global/2026-...
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2026 global VAT rate changes - vatcalc.com
Below listed are the primary updates to standard and reduced Value Added Tax, Goods and Services Tax and Sales Tax around the world - including new indirect
https://www.vatcalc.com/global/2026-global-vat-rate-changes/
24 days ago
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Anyone else have scrap Bingo Duty 2026 on their Budget Bingo card?
2 months ago
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Labour Budget closes VAT private car hire operator loophole - Bolt & Uber - 1st Jan 2026
www.vatcalc.com/uk/uk-budget...
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UK Budget: VAT on private ride-sharing operators 1st Jan 2026 - vatcalc.com
The 26 November UK 2026 Budget, from Chancellor Rachel Reeves, is excluding private hire vehicle operators / platforms from TOMS - Ā imposing VAT collections
https://www.vatcalc.com/uk/uk-budget-vat-on-private-ride-sharing-platforms-1st-jan-2026/
2 months ago
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Liability fears push OpenAI to warn on AI tax advice reliance
www.vatcalc.com/global/opena...
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OpenAI warns off use of AI as tax advisor - vatcalc.com
In a quiet but significant policy shift, OpenAI has reclassified ChatGPT as an educational tool rather than a consultant, effectively barring the system from
https://www.vatcalc.com/global/openai-warns-off-use-of-ai-as-tax-advisor/
3 months ago
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The AI that lied: fake Polish VAT rulings loses company ā¬4m contract
www.vatcalc.com/global/ai-va...
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AI VAT hallucinations cost a business a ā¬4m contract - vatcalc.com
Artificial intelligence is being hailed as a revolution in how businesses process information, prepare documents, and handle compliance.
https://www.vatcalc.com/global/ai-vat-hallucinations-costs-business-e4m-contract/
3 months ago
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So the 1990s gave us the āknowledge economyāāand now AI is basically the liquidation sale. Everything must go, including your thoughts
substack.com/@jasquith/no...
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Embracing the Artifice
Some Thoughts on A.I.
https://substack.com/@jasquith/note/p-176321318?utm_source=notes-share-action&r=j31kn
3 months ago
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How to raise VAT when you, errrr, promised not to
www.vatcalc.com/uk/uk-labour...
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UK Labour to widen VAT base at 2025 Budget? - vatcalc.com
On 29 September, UK Chancellor, Rachel Reeves, repeated that the standard VAT rate will not rise in line with the election manifesto promise. Ā But the
https://www.vatcalc.com/uk/uk-labour-vat-increase/
4 months ago
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Russia's defence spending forces VAT hike in 2026 to 22%
www.vatcalc.com/russia/russi...
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Russia 2026 2% VAT rise to 22% - vatcalc.com
Russiaās Ministry of Finance has put forward a 2% VAT rise to 22% from 1 January 2026. The VAT registration threshold will also be cut from Rub 60 million to
https://www.vatcalc.com/russia/russia-mulls-2-vat-rise-as-deficit-spirals/
4 months ago
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Yawn. Speculation on latest desperate & ineffective VAT measure
www.vatcalc.com/united-kingd...
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UK mulls cutting VAT on domestic fuel: relief or blunt instrument? - vatcalc.com
The UK government is considering scrapping VAT on domestic fuel bills in the 26th November Budget. Chancellor Rachel Reeves has asked officials to examine the
https://www.vatcalc.com/united-kingdom/uk-mulls-cutting-vat-on-domestic-fuel-relief-or-blunt-instrument/
5 months ago
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šµāš«šµāš«šµāš«
www.vatcalc.com/uk/uk-to-rai...
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UK to slash VAT registration threshold. No, wait, itās going to hike it - vatcalc.com
At this Autumnās Budget, the UK Chancellor, Rachel Reeves will need to raise billions to cover an emerging Ā£50 billion fiscal hole that is spoking debt
https://www.vatcalc.com/uk/uk-to-raise-vat-registration-threshold-no-wait-its-going-to-cut-it/
5 months ago
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š„ Romania President today signs 2% VAT rise 1 Aug 2025 Happy weekend all lovers of VAT š
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6 months ago
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reposted by
Richard Asquith
Dan Neidle
6 months ago
A UK wealth tax sounds simple: "tax the superārich, fund public services" But it's not. Our 16,000 word deepādive shows revenues are fragile, it puts growth, investment and jobs at risk, and there's no revenue before 2029. Hereās the evidence:
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reposted by
Richard Asquith
Steve Peers
7 months ago
Some of the legal proposals for the next EU multi-year budget are now published - own resources and MFF proposals (scroll down) -
commission.europa.eu/strategy-and...
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EU budget 2028-2034
The main aspects of the EUās long-term budget for 2028-2034, its revenue and spending areas, as well as factsheets on key aspects are available on this page.
https://commission.europa.eu/strategy-and-policy/eu-budget/long-term-eu-budget/eu-budget-2028-2034_en
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How to raise VAT when you said you wouldn't
www.vatcalc.com/uk/uk-labour...
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UK Labour to widen VAT base at 2025 Budget? - vatcalc.com
The UK's Chancellor may opt at this late-October's 2025 budget to raise much-needed funding by changes to the nil-rating and reduced 5% rates. Ā Fresh debate
https://www.vatcalc.com/uk/uk-labour-vat-increase/
7 months ago
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EU rejects Italian tax speculative VAT assessments on free social media platform services
www.vatcalc.com/italy/italy-...
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EU VAT Committee disagrees with Italy's Meta, X & LinkedIn barter VAT stance - vatcalc.com
On 14 May 2025, EU's VAT Committee disagreed with Italy's interpretation of the right to assess VAT on the 'barter' exchange of free use of digital social
https://www.vatcalc.com/italy/italy-assess-facebook-for-vat-on-users-data-in-return-for-free-portal-access/
7 months ago
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Germany comes out punching: drawing-up 10% Digital Services Tax. In Feb, President Trump launched review of such discriminatory taxes, with tariff threat
www.vatcalc.com/germany/germ...
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Germany 10% Digital Services Tax proposal - vatcalc.com
The new Merz Federal government is considering a 10% levy on large digital platforms such as Google and Meta. In the current global tax regime, such digital
https://www.vatcalc.com/germany/germany-10-digital-services-tax-proposal/
8 months ago
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This will nearly double the price of my next stylish pair of pants
www.vatcalc.com/eu/eu-mulls-...
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EU proposes ā¬2 e-commerce import handling fee - vatcalc.com
As part of the 2028 EU Customs reform negotiations, the European Commission has issued an informal paper proposing a ā¬2 customs administration charge on
https://www.vatcalc.com/eu/eu-mulls-customs-admin-tax-on-non-eu-sellers/
8 months ago
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EU's to review Italy's questions on LinkedIn, X & Meta/Facebook VAT liabilities on 'free' access to their platforms in exchange (barter) for users' data
www.vatcalc.com/italy/italy-...
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Italy Meta, X & LinkedIn barter VAT question to EU VAT Committee - vatcalc.com
16 April 2025: Italy has requested from the VAT Committee (the EU's non-binding advisory group) an opinion on the VAT liabilities on 'free' social media
https://www.vatcalc.com/italy/italy-assess-facebook-for-vat-on-users-data-in-return-for-free-portal-access/
8 months ago
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#AI
is mopping-up VAT fraud
www.vatcalc.com/malta/artifi...
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Artificial Intelligence picks up millions in VAT fraud - vatcalc.com
Malta has confirmed that in 2024 it collected an impressive ā¬650 million more in tax compared to the previous year. Most of this increase was directly
https://www.vatcalc.com/malta/artificial-intelligence-picks-up-millions-in-vat-fraud/
9 months ago
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EU threatens to reheat Digital Services Tax proposal as leverage to Trump tariffs. (Although Iām not sure of mechanism? āEnhanced Cooperationā?
www.vatcalc.com/eu/european-...
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EU may revive Digital Services Tax proposal - vatcalc.com
The European Commission President, Ursula von der Leyen, has raised the prospect of restarting discussions between the EU 27 member states on a pan-EU 3%
https://www.vatcalc.com/eu/european-union-delays-digital-services-tax-levy/
10 months ago
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š„³ š Happy b'day VAT! It's had one or two detractors this year; but still looks wonderful for its age in 175 countries
www.vatcalc.com/uncategorize...
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Happy 71st Birthday to VAT - vatcalc.com
Value Added Tax turns 71 today, 10th April 2025.Ā It was first introduced in April 1954 in the French colony of Ivory Coast. Then VAT was implemented in
https://www.vatcalc.com/uncategorized/10th-april-1954-france-adopts-vat/
10 months ago
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Happy weekend all VAT lovers š
10 months ago
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Digital Service Taxes - closing offshore tax loophole or illegal service import tariffs in disguise?
www.vatcalc.com/global/are-d...
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Are Digital Services Taxes good taxes? - vatcalc.com
Digital Services Taxes are the newest, and possible to newest extinct, class of taxation. President Trump signed in February an order to investigate
https://www.vatcalc.com/global/are-digital-services-taxes-good-taxes/
10 months ago
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open.substack.com/pub/jasquith...
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The Disappearances Begin
An old tactic finds a new target
https://open.substack.com/pub/jasquith/p/the-disappearances-begin?r=4hlng7
10 months ago
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Bolt ride-sharing today wins VAT ruling. Could spill over to gig employment taxes obligations
www.vatcalc.com/united-kingd...
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UK Bolt ride-hailing wins TOMS VAT hearing - vatcalc.com
A UK's Upper Tribunal has 24 March 2025 rejected HMRC's appeal to block ride sharer Bolt from using TOMS. The case centred on whether Boltās app-based
https://www.vatcalc.com/united-kingdom/uk-toms-vat-margin-scheme-on-mobile-ride-hailing-services/
10 months ago
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UK ministers with Peter Mandelson scramble for Digital Services Tax compromise to avoid US retaliatory tariffs
www.vatcalc.com/united-kingd...
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UK to limit Digital Services Tax under US pressure - vatcalc.com
The UK government is reviewing its Digital Services Tax (DST) as it seeks to persuade the Trump administration not to impose new tariffs on the UK. Ministers
https://www.vatcalc.com/united-kingdom/uk-to-limit-digital-services-tax-under-us-pressure/
10 months ago
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reposted by
Richard Asquith
Giles Wilkes
10 months ago
Incredibly good historical account of land taxes and why they failed under Lloyd George
worksinprogress.co/issue/the-fa...
Note to self: read more Works in Progress!
@watlingsamuel.bsky.social
is the author I think
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The failure of the land value tax - Works in Progress
Land value taxes are once again becoming a popular all-purpose solution to housing issues. But implementing them in early 1900s Britain destroyed the then-dominant Liberal Party.
https://worksinprogress.co/issue/the-failure-of-the-land-value-tax/
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Poland risks US tariff retaliation as it mulls full DST, interpreted by new White House admin as discriminatory against US its digital giants
www.vatcalc.com/poland/polan...
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Poland to upgrade Digital Services Tax - vatcalc.com
Polandās Finance Minister has indicated that a full Digital Services Tax, similar to those in operation in France and the UK, will be implemented. This
https://www.vatcalc.com/poland/poland-to-upgrade-digital-services-tax/
11 months ago
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reposted by
Richard Asquith
Lawrence Freedman
11 months ago
Will Russia agree to join the one month truce proposed by the US and agreed by Ukraine. In this post I explore the dilemma Putin now faces as this risks a frozen conflict without his aims achieved. (Ā£/free trial).
open.substack.com/pub/samf/p/p...
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Putin's Dilemma
Can he agree a truce? On what terms?
https://open.substack.com/pub/samf/p/putins-dilemma?r=15i4j0&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true
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It's going to get ugly in the UK...
www.vatcalc.com/uk/uk-hair-t...
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UK hair transplants ruled liable to 20% VAT - vatcalc.com
First-Tier Tribunal rules hair transplants for androgenetic alopecia are subject to VAT at the 20% standard rate, and may not benefit from the medical
https://www.vatcalc.com/uk/uk-hair-transplants-ruled-liable-to-20-vat/
11 months ago
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White House attack on VAT as tariff is ridiculous. But on firmer ground calling out UK France Italy Spain Turkey & Canada on DST's. Badly structured as tariffs on services; but really just symptom of antiquated global tax rules
www.vatcalc.com/global/us-pr...
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US President Trump Digital Services Taxes retaliatory tariff review - vatcalc.com
On 21 February 2025, US President Trump signed an order to investigate potential tariff retaliations against countries which have implemented Digital Services
https://www.vatcalc.com/global/us-president-trump-targets-digital-services-taxes-with-tariffs/
11 months ago
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UK launches consultation on e-invoicing mandate for B2B & B2G. Nov 2025 proposals Read more...https://www.vatcalc.com/united-kingdom/uk-hmrc-b2g-b2b-e-invoicing-consultation/
12 months ago
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Helpful infographic for Trump retaliatory VAT tariffs plan. Yes, Greenland, Cuba and N Korea mysteriously exempted
12 months ago
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Trump will turn OECD global tax settlement into next tariff wars or he could negotiate a good deal for US companies & taxpayers. His fondness for browbeating does not bode well
www.economist.com/leaders/2025...
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Despite fears of a global tax war, Donald Trump has a chance to make peace
A global minimum tax on companies ought to be acceptable to America
https://www.economist.com/leaders/2025/01/30/despite-fears-of-a-global-tax-war-donald-trump-has-a-chance-to-make-peace
12 months ago
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š„ Brazil's approved launch VAT rate creeps up to 28%
www.vatcalc.com/brazil/brazi...
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Brazil 2026-32 VAT; launch rate rises to 28% - vatcalc.com
President Lula has this week signed the tax reform laws to replace four existing and hugely complex state and federal taxes with two linked taxes which follow
https://www.vatcalc.com/brazil/brazil-vat-new-government-promises-progress-on-reforms/
about 1 year ago
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š§ extraordinary tax policy shift - moving to progressive, personalised VAT rates based on income instead of supply. Worth also reading
@delaferiar.bsky.social
& Artur Swistak excellent paper Designing a Progressive VAT, inc Uzbek pioneering this
www.vatcalc.com/uruguay/urug...
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Uruguay personalised VAT rates proposal - vatcalc.com
Uruguay is proposing to be one of the first countries (Uzbekistan was the pioneer with app-based VAT refunds in 2024) to roll out live VAT rate adjustments
https://www.vatcalc.com/uruguay/uruguay-personalised-vat-rates-proposal/
about 1 year ago
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Delighted to see
@paulaplinontax.bsky.social
come over to Bluesky. Important contributor to tax debate
about 1 year ago
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1st 2025 US trade wars blood to Italy: extending its Digital Services Tax to more foreign businesses, esp ancillary sectors eg cars (ahem, Tesla)
www.vatcalc.com/global/italy...
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Italy Digital Services Tax 2025: 1 or 2 thresholds withdrawn - vatcalc.com
Italy has gazetted its 2025 Budget Law which includes the withdrawal of one of the two thresholds for its 3% Digital Services Tax. Ā The change will bring more
https://www.vatcalc.com/global/italy-digital-services-tax-threshold-withdrawal-proposal/
about 1 year ago
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ššBah, humbug, tax reforms A Christmas Carol why it goes wrong! Happy Xmas to all lovers of VAT
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about 1 year ago
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US & UK against; EU abstains on last nightās successful UN vote to start tax cooperation negotiations on corporate & individuals. EU statment telling
www.eeas.europa.eu/delegations/...
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EU Explanation of Vote, UN General Assembly 2nd Committee: Tax Cooperation resolution
27 November 2024, New York -- Statement (Explanation of voteĀ ) delivered by Hungary on behalf of the EU and its Member States on theĀ UN General Assembly 2nd Committee resolution on Tax Cooperation
https://www.eeas.europa.eu/delegations/un-new-york/eu-explanation-vote-un-general-assembly-2nd-committee-tax-cooperation-resolution_en?s=63
about 1 year ago
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EU energy tax reform held hostage by island states of Malta and Cyprus
www.vatcalc.com/eu/2022-eu-t...
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EU energy tax reform close - vatcalc.com
The Hungarian presidency of the Council of the EU believes it had reached an aviation and marine fuel compromise agreement for the reforms of the Energy
https://www.vatcalc.com/eu/2022-eu-to-reform-tax-on-energy-to-hit-net-zero-emissions/
about 1 year ago
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š± Archers just referred to farm Inheritance Tax controversy ! ! ābut need revenues to pay for NHS'
about 1 year ago
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OECD 2024 VAT, GST & excise tax report drops: - ave VAT rate 19.3% (from 19.1%) in 38 OECD countries - most implemented electronic transactional reporting - 29 of 38 mandated e-invoicing - widespread VAT on online goods & services
www.oecd.org/en/publicati...
about 1 year ago
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I foresee no circumstances where this will go wrong
www.tax.service.gov.uk/ask-hmrc/cha...
about 1 year ago
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When your economy threatens to tank, VAT to the rescue
www.vatcalc.com/china/china-...
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China VAT exemption on real estate collapse - vatcalc.com
An economic downturn and ageing pollution has put huge pressures on Chinaās dominant real estate sector. This is threatening domestic economic stability and
https://www.vatcalc.com/china/china-vat-exemption-tackles-real-estate-collapse/
about 1 year ago
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Oh, hello. HMRC following up on VAT bill for this Bolt gig employment ruling? Similar to Uberās London taxi High Court loss?
@judithfreedman.bsky.social
@maxschofield.bsky.social
www.vatcalc.com/united-kingd...
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UK employment tribunal Bolt judgment may affect VAT obligations - vatcalc.com
A UK Employment Tribunal has ruled rider sharers on the digital platform Bolt are employees. The Tribunal judged that "the supposed contract between the Bolt
https://www.vatcalc.com/united-kingdom/uk-uber-pushes-for-20-vat-obligations-on-all-private-taxi-operators/
about 1 year ago
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US elections seal death of OECD digital services tax global talks?
www.vatcalc.com/global/digit...
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OECD tax reforms unlikely following US election; DST & trade retaliation risks - vatcalc.com
The OECD's negotiations with around 120 counties on rewriting the rules on taxing cross-border digital services ('Pillar 1') is now in peril following the US'
https://www.vatcalc.com/global/digital-services-tax-dst-to-continue-and-threaten-new-trade-battles/
about 1 year ago
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Another tax haven quietly diesā¦
www.vatcalc.com/guernsey/gue...
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Guernsey 5% GST 2027 implementation - vatcalc.com
A plan for the launch of 5% GST to Guernsey and Alderney in 2027 are to be developed following the November 2024 rejection of imposing an income tax rise are
https://www.vatcalc.com/guernsey/guernsey-gst-implementation-faces-opposition/
about 1 year ago
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Millions of European businesses face overhaul of VAT reporting
www.vatcalc.com/eu/eu-vat-in...
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EU ViDA agreed at ECOFIN 5th Nov; Pillars 2 & 3 delays - vatcalc.com
The proposals now return to the EU Parliament to reapprove the compromises due to the substantial differences between the EC's initial proposal and the ECOFIN
https://www.vatcalc.com/eu/eu-vat-in-the-digital-age-vida-adopted-by-ec/
about 1 year ago
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