The First-tier Tax Tribunal (FTT) has accepted a taxpayer’s application to bring a lead case against HM Revenue & Customs (HMRC) to recover VAT. If successful, businesses could be entitled to reclaim more than £220 million ($354 million) of input tax on Royal Mail's postal services.
Chris Needham, global VAT/GST director of GE talks to International Tax Review about the biggest challenges he is facing at the moment, the policy proposals which will make life easier for VAT directors and those which may pose greater headaches.
Environmentalists welcomed the European Commission’s revised Energy Tax Directive (ETD), but they feel Council negotiations over the reforms are taking too long and are in danger of weakening the proposals.
The UK government is taking steps to stop companies avoiding the removal of low value consignment relief (LVCR) on Channel Island imports two weeks after International Tax Review reported how companies are getting around the abolition.