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Puerto Rico Brings First-Ever Value-Added Tax To The U.S.

September 21, 2015

Value-added taxes (VAT) have made their first landfall on U.S. shores as a potential fix to Puerto Rico’s financial crisis. Is this a harbinger of things to come in the continental U.S.? That may depend on how things go in Puerto Rico. First some background: VAT is consumption-based tax that is applied at each point… Read more

Cornwall councillors call for change on defibrillator VAT

September 15, 2015

A VAT levy on lifesaving defibrillators should be scrapped, claims a group of councillors which wants a local authority to lobby the government and European Parliament for change. In a document, Cornwall councillors said the 20% VAT was “going straight to the Treasury” but could be spent on more defibrillators instead. HM Treasury said VAT exemptions… Read more

EU to propose VAT exemption for small businesses after protests

September 15, 2015

Complex VAT regulations which came into force at the start of the year may be amended following a recent EU summit in Dublin. The EU legislation changes the way sellers of digital services, such as ebooks, apps and online courses deal with VAT when selling to other European countries. It means that VAT is now… Read more

Himachal Pradesh hikes VAT on diesel by 4.50 per cent

August 2, 2015

[While diesel prices across the country were cut by Rs 3.60 per litre yesterday, consumers in Himachal Pradesh will get benefit of only Rs 1.60 a litre as the state government has hiked VAT on the fuel by 4.50 per cent, pushing up the price by Rs 2 per litre. The decision of the government… Read more