tax
The report by National Audit Office revealed that customers cumulatively spent 798 years on hold waiting to speak with HM Revenue & Customs (HMRC) in 2022-23 – more than double the time spent waiting in 2019-20. The public spending watchdog said that a variety of factors had contributed to poor call handling performance by HMRC. They included funding pressures, job cuts and a drive to reduce costs by encouraging people to manage their tax affairs online. The average time spent waiting on the phone to speak to an adviser in the 11 months to February 2024 was almost 23 minutes, the NAO said, wel...
Euronews (English)
Evasion of taxes up to €1 million ($1.1 million) will no longer be punished under Romanian law, provided that the offending taxpayer pays up within a month, after President Klaus Iohannis signed the relevant law on Friday. The Romanian supreme court had earlier approved the controversial measure, which is aimed at recovering large sums in unpaid taxes. The previous upper limit was €100,000. The Bucharest parliament had passed the amendment shortly before Christmas. It was backed by Prime Minister Marcel Ciolacu's Social Democrats (PSD) and Senate President Nicolae Ciucă's National Liberals (PN...
DPA Breaking News
Heavy-weight French companies with very large profits spent a record €33 billion last year buying back their shares from shareholders. What is a share buyback and why is it good for the company?What happens is that, rather than rewarding shareholders by paying them dividends, a company can choose to have similar results through share buybacks. When the company buys back shares, the stock price goes up because of the increased demand in the market, ensuring that the remaining investors' investments increase in value and stock prices continue to rise. Usually, the shares that were bought are can...
Euronews (English)
Venice residents have rallied against a day-tripper fee for visitors, implemented to combat excess tourism. Protesters argue that the fee turns the famous city into a 'theme park' and that it won't address the real issues they face. Hundreds of Venetians marched though the city's main bus terminal holding banners reading “No to Tickets, Yes to Services and Housing”. Protesters scuffled briefly with police with riot gear who blocked them from entering the city, before changing course and entering over another bridge escorted by plainclothes police officers. The demonstration eventually wrapped ...
Euronews (English)
Leaders from Germany and Spain are calling for a global tax on billionaires to help tackle the costs of the climate crisis. Brazil, which chairs the G20 group of the world’s largest economies, first proposed a tax on the super-rich at a meeting of finance ministers in February. Now, finance chiefs from Germany, Spain and South Africa have joined Brazil in fleshing out the proposal which could see the world’s 3,000 billionaires made to pay a minimum 2 per cent levy on their wealth. “It is time that the international community gets serious about tackling inequality and financing global public go...
Euronews (English)
The "pink tax" is not a legal tax, but rather a surcharge or markup on products traditionally marketed towards women, while typically the male version of the same products are less expensive. This can be seen in personal care items such as shampoos, razors, deodorants and more, as well as clothing, shoes and toys, amongst others. Services such as haircuts, car repairs and maintenance, dry cleaning are also affected. Although the pink tax has been spoken about ever since the 1990s, if not earlier, it was taken more seriously in 2015, following the Department of Consumer Affairs in New York City...
Euronews (English)
Lake Como is glitzy, glamorous and engulfed by tourism. The third largest lake in Italy, it sees as many as 1.4 million visitors a year descend on its shores. The tourist numbers are proving overwhelming for the holiday hotspot in northern Italy, and one city is now considering introducing a tourist tax. Mayor of the lakeside city of Como Alessandro Rapinese says he is mulling a Venice-style daily charge with suggestions that it could come into force soon. Lake Como to introduce a daytripper feeRapinese has lambasted Lake Como’s overtourism saying it is "difficult to be mayor when you are figh...
Euronews (English)
The 2023-2024 financial and tax year has just ended, with several businesses and investors still recovering from the flurry of wrapping up pending year-end tasks, using up individual savings accounts (ISA) allowances and more. However, now that the dust is settling, it may be a good time for businesses to decide on new and more efficient ways to spend in the new tax year. This involves making increased provisions for unexpected expenses, reducing the duplication of job roles and functions, as well as leveraging the use of business tools, such as invoicing, payroll, financial management and mor...
Euronews (English)
Switzerland comes out top as the best place to do business in Europe, according to a recent report by PwC. Most of the highest-ranking countries considered best for business were in northern Europe. PwC's Private Business Attractiveness Index 2023 looked at 33 countries in Europe, the Middle East and Africa (EMEA), judging them on nine categories and looked at 64 sets of numbers across the different categories. Judgements were from "emerging" to "leading" in each section when referring to attractiveness for private businesses. Are these the five easiest European countries to start a business? ...
Euronews (English)
Day-trippers to Venice who fail to pay the €5 to enter the lagoon city’s historic centre will face fines starting at 10 times the entrance fee, officials said on Thursday. The payment system is being launched later this month for a time-limited pilot program. Venice announced last year it would introduce the long-discussed day-tripper fee after the city narrowly escaped being placed on the UN’s list of endangered heritage sites, due largely to the impact of overtourism. Visitors staying overnight in the historic centre are exempt from the charge as they already pay a tourist tax. How will Veni...
Euronews (English)
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