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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...
House looks at formula to ease VAT on land sales
Ruling Disy and socialists Edek will jointly table a legislative proposal allowing non-payment of capital gains tax (CGT) until the end of 2018, to counterbalance the soon-to-come imposition of 19 per cent VAT on land sales for commercial property transactions. The...
What is Double Taxation?
You may have heard the term "double taxation" and wondered what it means. Corporate shareholders often complain that they are being "double taxed." But what really is double taxation and how unfair is it? What is Double Taxation? Double taxation is a term used to...
Economists prefer VAT to other kinds of taxes
Attention, residents of the UAE and other GCC countries. Here is a message from almost everyone else: welcome to our world. When your value added tax takes effect on January 1, you’ll be dipping one toe into the chilly unpleasant reality of personal taxes. The rest of...
Rethinking Double Taxation
Certain tenets of tax policy are so thoroughly ingrained in our thinking that to question them seems almost sacrilegious. Among these is the doctrine that corporate income should be taxed once and only once. Typically that singular occurrence of corporate tax is...
Britain loses 1 billion pounds through VAT fraud and error by Amazon and eBay sellers
Britain is losing up to 1 billion pounds a year in value added tax (VAT) because of fraud or error by sellers using online marketplaces eBay and Amazon, a report by the government auditor said. The National Audit Office (NAO) said on Wednesday that the sellers...