With the US needing to cut its deficit, it is inevitable that talk in some corners is turning to VAT once again, but the fierce political backlash unleashed whenever a politician supports the idea could prove an insurmountable barrier to it ever becoming a reality.
More than 70% of African countries have now adopted a VAT, and it increasingly seems to be the tax of choice for states across the continent looking to generate extra revenue, because it is a hard tax to avoid.
The EU is remaining defiant in the face of increasing international opposition to the extension of its Emissions Trading Scheme (ETS) to cover the aviation industry, which took effect on January 1 2012.
The Confederation of British Industry (CBI) signalled a general approval of Chancellor George Osborne’s tax policy yesterday, but warned he must get the details right to make the UK the most competitive regime in the G20.
An estimated $110 billion disappeared because of transfer mispricing on the import of crude oil in the EU and US between 2000 and 2010, a recent report from Publish What You Pay (PWYP) Norway said.
An estimated $110 billion disappeared because of transfer mispricing on the import of crude oil in the EU and US between 2000 and 2010, a recent report from Publish What You Pay (PWYP) Norway said.
