Tag: VAT
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Digital Continuous Transactional Reporting for VAT: OECD Policy Insights
Overview: Why Digital Continuous Transactional Reporting for VAT matters The OECD report on Digital Continuous Transactional Reporting (CTR) for Value-Added Tax (VAT) highlights a transformative approach to tax administration. By mandating real-time or near-real-time reporting of every taxable transaction, governments can improve VAT collection, minimize fraud, and strengthen fiscal resilience. This shift aligns with broader…
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OECD Digital Continuous Transactional Reporting for VAT: Policy and Design
Overview: What Digital Continuous Transactional Reporting for VAT Entails The OECD report on Digital Continuous Transactional Reporting for Value-Added Tax (VAT) presents a framework for real-time or near‑real‑time VAT data collection. The goal is to improve accuracy, reduce compliance costs for businesses, and close revenue gaps for governments. By moving from periodic VAT returns to…
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Zimbabwe VAT Change Puts Pressure on 2026 Bookings
Overview: VAT reform reshapes Zimbabwe’s tourism pricing The Zimbabwean government has unveiled a VAT reform that directly affects tourism pricing as operators prepare for 2026. The centerpiece is a modest lift in the standard VAT rate from 15% to 15.5%, but the more consequential move for travelers and the industry is the reclassification of many…
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Archbishop Urges Reeves to Back Down on Church VAT Raid
Overview: a tax relief in jeopardy? The Archbishop of York, Stephen Cottrell, has publicly called on Chancellor Rachel Reeves to protect a long-standing VAT exemption for repairs to listed religious buildings. With the Budget on the horizon, the clergy leader argues that a de facto VAT raid on churches would undermine the preservation of historic…
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Archbishop Urges Reeves to Spare Churches from VAT Raid in Budget Warning
Overview: a call to protect church VAT exemptions The Archbishop of York, Stephen Cottrell, has implored Chancellor Rachel Reeves to rethink proposed changes that could effectively amount to a VAT raid on churches. In the lead-up to the Budget, church leaders argue that any loss of VAT relief on repairs to listed religious buildings would…
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DEPDev Chief Balisacan Pushes Stricter Tax Enforcement Over VAT Cuts and Holiday Proposals
Policy stance: Prioritizing enforcement over tax holidays Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio M. Balisacan underscored a clear preference for tightening the grip on existing tax measures rather than introducing new reliefs such as tax holidays or lowering the 12% value-added tax (VAT). Speaking at the European-Philippine Business Dialogue (EPDB) during the…
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DEPDev Chief Balisacan Pushes Stricter Tax Enforcement Over New Holidays, VAT Cuts
Government Rebuffs Tax Holidays and VAT Cuts in Favor of Stronger Tax Enforcement The Philippine government, led by Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio M. Balisacan, is signaling a clear preference for tightening the reins on existing tax measures rather than introducing new relief like tax holidays or lowering the value-added tax…
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Balisacan Pushes Stricter Tax Enforcement Over Holidays and VAT Cuts in Philippines Fiscal Strategy
Shoring up revenues over tax holidays In a recent public briefing, DEPDev Secretary Arsenio M. Balisacan signaled a clear preference for tightening enforcement of existing tax measures rather than granting new tax holidays or pursuing immediate VAT reductions. Speaking on the sidelines of the European-Philippine Business Dialogue, he argued that preserving and strengthening the revenue…
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Tragedy in Northern Italy: Gas Blast Kills Three Carabinieri During Eviction
Overview of the incident A devastating gas explosion in a farmhouse near Verona, northern Italy, killed three officers from Italy’s Carabinieri military police and injured more than a dozen others. The blast occurred as police and firefighters were entering the property to enforce an eviction order against two brothers and a sister in their late…
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CTA Denies SCG Marketing Plea to Nullify 2013 BIR VAT Assessment
Overview: CTA denies SCG Marketing’s bid to overturn P9.2M VAT assessment The Court of Tax Appeals (CTA) has dismissed the petition filed by SCG Marketing Philippines, Inc. seeking to nullify a P9.2 million deficiency value-added tax (VAT) for the year 2013 assessed by the Bureau of Internal Revenue (BIR). In its decision issued on October…