excise duty News

Davis Resigns UK To Shorter Brexit Transition Period

by Jason Gorringe, Tax-News.com, London

Friday, March 16, 2018

In an interview with UK state news agency BBC's Newsnight, David Davis, the UK's Brexit negotiator, said the UK would "live with" the December 2020 transition deal being offered by the European Union as part of Brexit, even though the UK had sought the later date of March 2021. Read Full Story

EU Agrees Customs Code Changes

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, March 8, 2018

On March 2, 2018, the European Commission proposed that customs authorities and economic operators should be allowed to continue using, until 2025 at the latest, already existing systems for the completion of certain customs formalities. Read Full Story

Singapore Confirms Future GST Hike In Budget

by Mary Swire, Tax-News.com, Hong Kong

Tuesday, February 20, 2018

Singapore will hike its seven percent goods and services tax rate to nine percent some time between 2021 and 2025, Singapore's Finance Minister, Heng Swee Keat, announced in the territory's new Budget. Read Full Story

Ireland Announces 2018 Tax Revenue Targets

by Jason Gorringe, Tax-News.com, London

Tuesday, February 13, 2018

The Irish Government is targeting a seven percent increase in revenue over 2017's tax take. Read Full Story

Brexit: EU Explains Tax Impact On Cross-Border Trade

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, February 7, 2018

The EU's Directorate-General for Tax and Customs Union has explained how the UK ceasing to be a member of the European Union will impact the customs and value-added tax rules applying to UK businesses and EU firms trading with the UK. Read Full Story

EU Shelves Plan To Amend Tobacco Tax Directive

by Ulrika Lomas, Tax-News.com, Brussels

Friday, January 19, 2018

Following a review initiated in March 2016, the European Commission has recommended that no changes be made to the EU Directive governing the taxation of tobacco products. Read Full Story

Canadian Beer Industry Calls For Tax Cuts

by Mike Godfrey, Tax-News.com, Washington

Tuesday, January 16, 2018

Canadian brewers have called on the federal Government to scrap plans for an automatic excise duty escalator, claiming that taxes already account for 47 percent of the cost of a bottle of beer. Read Full Story

UK Lawmakers Discuss Potential Post-Brexit Free Zones

by Jason Gorringe, Tax-News.com, London

Wednesday, January 10, 2018

During a January 7, 2018, debate in the UK House of Commons, UK lawmakers discussed the country's plans to leave the EU, its customs union, and value-added tax area. Read Full Story

American Firms In Kosovo Laud New Tax Perks

by Mike Godfrey, Tax-News.com, Washington

Tuesday, January 9, 2018

The American Chamber of Commerce in Kosovo (AmCham Kosovo) has praised Kosovo for suspending customs duties and excise taxes on certain inputs for local manufacturers. Read Full Story