Sentences with phrase «reduce vat»

The domestic reverse charge has been used successively in other areas of the VAT law to reduce VAT fraud.

«At the very least Ireland needs to follow the example of other European countries and reduce the VAT level on renewable energy products», adds Micheál.

This is an issue that effects much of Europe, though France was the first EU member state to reduce its VAT on e-books to 5.5 % in January and then back up to 7 % in March 2012, defying the law handed down from Brussels prohibiting member states from applying reduced VAT rates on e-books.

The move to reduce the VAT in those two countries actually resulted in penalties from the EU, which had set the rate for the Union; the governments of those two countries felt it was important enough to lower the rate that any resulting actions from the EU would be worth the cost.

There are bills in preparation, though, that aim to reduce VAT for digital books and audiobooks alike (source).

National governments could submit to reduce VAT to not less than five percent in two labour - intensive areas.

To accompany the various tax scraps and reductions, Dr. Bawumia assured that the NPP would «introduce tax incentives for businesses that hire fresh graduates from schools and we are going to reduce the VAT for micro and small enterprises from the 17.5 percent to the 3 percent flat rate.»

We can take out our anger on elected representatives in Westminster but whoever is in Government in London can not remove or reduce VAT, can not support a steel plant through troubled times, can not build the houses we need where they're needed and can not deport all the individuals who shouldn't be in this country.

The Liberal Democrats are the only UK party to pledge to reduce VAT from 20 % to 5 % for tourist accommodation and attractions.

It is not only targeting this specific tax that would help businesses, but rather than spending money on reducing VAT, expanding the national insurance holiday for firms taking on new staff, and taking bolder action on the huge business rate rise due to hit in April, would be preferable.

The European Commission also announced a consultation with member states on proposals to allow countries to vary their reduced VAT rates on items such as: e-books; women's» sanitary products; domestic «green» expenditure; children's clothing; and basic foodstuffs.

The Green Party manifesto commits the party to reducing VAT on tourism to 5 % «putting the UK on a level playing field with the rest of our international competitors».

The reduced VAT rate of 5 per cent, for items including domestic fuel and power, will stay the same this year.

But President Mahama said, «if you take the NPP's economic plan, they are reducing taxes on everything; removing taxes on raw materials, reducing VAT on several items, reducing corporate income tax so when you do that you are reducing your revenue.»

The European Commission has launched an infringement procedure against France and Luxembourg in respect of reduced VAT rates applied to digital books by these states.

This is primarily because according to EU law, reduced VAT rates can apply only to goods, not e-services.

By basing their operations there, they could sell books in most European countries at a reduced VAT rate.

EU legislation allows Member States to apply reduced VAT rates to a limited list of goods and services set out in Annex III to the VAT Directive.

Briefly Noted Reduced VAT rate on Digital Books under Scrutiny by the Commission — Chartered Accountants Ireland

via Reduced VAT rate on Digital Books under Scrutiny by the Commission — Chartered Accountants Ireland.

This is on the basis that they are a service, and not listed in Appendix III of the EU VAT Directive as being entitled to enjoy the same reduced VAT rates as printed book.

«France is preparing to reclassify sales of e-books from its reduced VAT rate of 5.5 % to its standard rate of 20 % from 1 January 2016.

This allows the company to offer digital content at reduced VAT prices.

«The Publishers Association contends that there is an extremely strong case to make for reducing VAT rates on e-books and align them with the zero - rate enjoyed by print books in this country.

In Germany, print books enjoy a reduced VAT rate of 7 percent, but ebooks are still subject to the full rate of 19 percent.

Since I've always felt strongly that discriminating books on whether they are paper or bits is a bad idea, the reduced VAT rate for books was actually good news, but tying it to the ISBN?

E-books can attract many new young readers as long the number of legally - distributed digital books in the Spanish continues to increase substantially and reduced VAT is granted to e-books in order to guarantee reasonable prices.

SNE and FEP have been working together to keep this reduced VAT rate, on the ground of fiscal neutrality.

Not exact matches

At the end of last year, it reduced the value added tax (VAT) rate from 24 percent to 20 percent, lowered the income withholding tax rate, nixed a controversial «special construction» tax, simplified deductibles and exempted certain dividends from corporate income tax.

Stage 1: Simply enter your product into any of the Quality Food Awards for the reduced fee of # 125 + VAT by 15th June

He cited the VAT concession as proof that the government was taking measures to reduce the impact of the slowdown in economic growth.

As the Bank of England has pointed out, higher VAT, higher tuition fees and the sharp fall in the value of sterling since 2010 have driven up inflation and reduced the living standards of British families.

It would be far better to reduce this tax than VAT.

Reduce the complexity of rules All EU countries operate by the same rules in theory but in practice some things are left to each member state to define and in some instances countries have been permitted to apply derogations (an exemption from or relaxation of the VAT rules).

Taking the fiscal credibility point first, the cost to the Exchequer of changing the standard rate of VAT by one per cent is approximately # 5bn a year (in other words, reducing the rate from 20 per cent to its previous 17.5 per cent would cost in the region of # 12.5 bn).

Using 50 % VAT on luxury yachts to reduce the taxes paid by the manufacturer of luxury yachts and their employer would be no bad thing; redistribution isn't the only goal of the tax system, if it were we'd have no tax on tobacco.

[132] Together with Shadow Chancellor Ed Balls, Miliband also promoted a «five - point plan for jobs and growth» aimed at helping the UK economy, involving extending the bonus tax on banks pioneered by Alistair Darling, bringing forward planned long - term investment to help reduce unemployment, cutting the rate of VAT from 20 % back to 17.5 %, cutting VAT on home improvements to 5 % for a temporary one - year period, and instigating a one - year National Insurance break to encourage employers to hire more staff.

Other European countries have reduced the rate of VAT for the home improvement market in order to tackle the informal economy and create new jobs and growth in this important economic sector.

«Shifting from VAT to pollution taxes, cutting the standard rate of VAT to 15 per cent, and reducing it to five per cent for some items, and abolishing road tax whilst increasing pollution taxes on fuel.

The motivation behind her decision to increase VAT and reduce income tax was that higher taxes on consumption were less of a disincentive to work hard, to strive for promotion and to take on another employee.

We are also cutting VAT on fuel for Air Ambulances, reducing tax on people's savings and slashing beer duty by 1p.

Throughout the last Parliament the NCC called on the Government to implement a range of pro-tourism measures, including a reduced rate of VAT on tourism.

«In order to stimulate tourism the Government should reduce tourism VAT to 5 % - thereby boosting the economy by # 4bn per year, creating an additional 123,000 jobs and delivering an extra # 3.9 bn to the Treasury.

The Welsh National Party (Plaid Cymru) has made a commitment to reducing tourism VAT «to make holidays at home more affordable and attract foreign tourists, creating up to 7,000 jobs».

In Northern Ireland the DUP have said that the hospitality sector should be re-categorised and benefit from a reduced rate of VAT - Alliance and the SDLP have also called for a lower rate of tourism VAT.

In response to James» question about the Labour leadership candidates — Ed Miliband campaigned for Simon Hughes to speak out & is encouraging his supporters to call on the Lib Dems to stand up for their values, David Miliband has suggested ending the charitable status of fee - paying schools and (one of those non-monetary aspects to reducing inequality) giving representation to ordinary workers on corporate remunertion committees, Ed Balls has strongly opposed the VAT rise and is calling for a graduate tax instead of higher tuition fees, Andy Burnham has reiterated his support for a National Care Service and spoken out on the abolition of the Future Jobs Fund, Diane Abbot has called for fair taxation, cancelling Trident, and setting a timetable for troop withdrawal from Afghanistan.

President - elect Nana Addo Dankwa Akufo - Addo further pledged to reduce the tax burden on the private sector through lower corporate tax and the removal of import duties and VAT from some items while relying on revenue measures such as improving tax compliance, improving the quality of public finance administration and higher oil and gas production to finance these tax cuts.

How could a single market work if one country reduced the rate of VAT thus gaining an unfair competitive advantage?

In its recent submission to HMRC, 2 the CIOT said that careful consideration should be given to mitigating the impact on businesses, particularly managing adverse cash flow impacts because split payment will reduce, eliminate or even reverse the cash flow effects of VAT for many businesses.

In conclusion, the new system aims to both simplify the treatment of sales of goods from a VAT perspective and to reduce the ever increasing criminal activity aimed at milking the VAT system.