This week the Biden administration has run into opposition over a proposal for a federal gas tax holiday, while the European Parliament has approved a plan for an EU carbon border mechanism.
Tax professionals have urged suppliers of goods from Great Britain to Northern Ireland to pause any plans to restructure their supply chains following the NI Protocol Bill.
HM Revenue and Customs said the UK pillar two legislation will be delayed until at least December 2023, while ITR reported on a secret Netflix settlement and an IMF study on VAT cuts.
The UK has opted to raise a 25% levy on the profits of energy companies to fund a relief package for households amid the cost-of-living crisis. Meanwhile, the OECD’s plans for tax reform have stalled.
Peter Boerhof of Vertex Inc shares the results of a survey showing that businesses are increasingly turning to tax engines to eliminate errors and streamline operations.
Oliver Froehlich, European e-commerce and marketplace channel lead at Vertex, explains the indirect tax obligations that are on the horizon as retailers transition to omnichannel operating.
ITR and Thomson Reuters hosted a webinar on April 28 to share insights into how tax engines can help businesses meet the needs in an increasingly complex tax environment.