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75% of GCC firms ‘have yet to engage VAT advisors’

Three-quarters of GCC firms have yet to engage with their tax advisor on the subject of value-added tax (VAT), study claims. A survey showed that the vast majority - 88% - of respondent firms have not made budgetary provision for VAT, despite analysts predicting it...

H&M Sales Including VAT Rise In May, Q2 – Quick Facts

(RTTNews.com) - Swedish retailer Hennes & Mauritz AB or H&M (HNNMY.PK, HMRZF.PK, HEN.L) reported Thursday that its sales including VAT for the month of May increased 4 percent in local currencies. Converted into SEK, sales increased by 8 percent. The company...

Addressing tax treaty abuse

Governments worldwide have been up in arms against the egregious tax planning undertaken by multinational corporations. Taxpayers take advantage of the vast tax treaty network that countries have in place and can inappropriately reduce their tax liability to an extent...

UK’s Labour seeks to woo voters with prospect of VAT cuts

Britain's opposition Labour Party will offer voters in Thursday's election the prospect of a cut in value-added tax, the party's top finance official John McDonnell was quoted as saying by a newspaper. The interview was conducted before Saturday's van and knife attack...

EU Legal Advisers: Reverse-Charging VAT Could Disrupt Single Market

European Union legal advisers to the Council of Ministers issued an opinion warning of potential market disruption that could follow if current plans to introduce reverse charging of value-added tax, to help counter fraud, proceed. The EU Council of Ministers’ legal...

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