This time last year, International Tax Review noted a trend in rising VAT rates around the world. Today that trend continues, but opposition is also increasing with calls for cuts in some countries, and new exemptions in others as governments look to stimulate sectors of their ailing economies. Salman Shaheen investigates.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
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