The British tourist industry is campaigning for a reduced VAT rate over fears the UK is not competitive. But the government continues to resist the industry’s calls.
London Mayor Boris Johnson has called on German, Italian and Spanish banks to move their headquarters to London to avoid the financial transaction tax (FTT). But in doing so he has failed to understand how the tax will actually work.
The IMF has raised doubts over the financial transaction tax (FTT) and has recommended looking at alternatives. But the EU 11 is unlikely to alter course now.
The Irish hotel industry has been lobbying hard for the VAT reduction to be extended beyond the end of this year and advisers believe it is likely to get its wish.
The latest development in the continuing saga of negotiations around the financial transaction tax (FTT) is that it will be delayed by six months. But the tax is still on course for implementation and taxpayers should continue to prepare for it.
The European Parliament has maintained its support for the financial transaction tax (FTT), despite disagreements between member states over its scope.
