Germans angered by plans to hike VAT
Germans slam plans to increase VAT as tax receipts soar
Germans slam plans to increase VAT as tax receipts soar
Germany’s plans to increase VAT at a time when tax revenue is expected to
soar has prompted a popular outcry.
According to a bi-annual tax receipt estimate compiled by government and
private sector experts, tax receipts are 8.1bn euros (£5.5bn) higher than the
last forecast six months ago.
The government is eager to increase VAT anyway, prompting harsh criticism
from the German press and economists, the FT reports.
The country’s chancellor, Angela Merkel, has orchestrated the proposed VAT
increase and was forced to defend the idea yesterday, saying that the change was
essential if Germany was to abide by Europe’s fiscal rules.
‘I know this government is asking a lot from the people in this country with
some decisions it has taken in recent day. Our credibility in relation to what
we expect from other member states in Europe is a precious good,’ said Merkel.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceAs we get closer to the Budget and there is talk of public spending reduction to fund his proposals, we think a cut by the Chancellor to the headline ...
View articleTechnology industry leaders are pressing the government for substantial investment to prepare the next generation with essential digital and AI skills...
View articleUK Chancellor Jeremy Hunt has hinted at the possibility of further tax cuts in the upcoming spring Budget, during his time at the World Economic Forum...
View articleEffective corporate reporting on sustainability will prevent greenwashing issues and deliver more data for better implementation of climate policies R...
View articleCGT receipts have increased by over 100% in the past five years and reached a record level of £18bn in the last year alone, and a further 18% increase...
View articleThe Office for National Statistics reported that inflation in the UK dropped to 7.9% in June Read More...
View articleAccording to the senior Conservative, the Tory party must have one eye on the next general election in deciding the future of the off-payroll working ...
View article23% of business owners having hastened their plans to either sell or wind down their businesses Read More...
View article