FRANCE’S SOCIALIST GOVERNMENT announced it intends to raise €7.2bn (£5.7bn) as it launched a huge one-off increase in wealth taxes in a bid to service its deficit, reports the Financial Times.
The supplementary 2012 budget was called to ensure the government’s attempts to reach its deficit target of 4.5% of GDP this year and was overwhelmingly skewed towards taxes on the rich and big business.
More increases are expected to be announced in the autumn, when the government is expected to source €33bn in savings to reduce the deficit to 3% of GDP.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...