Tags Tagged With Tax
15 Reasons Why The Vat Rate Change May Backfire.
Adapted From http://iaindale.blogspot.com/2008/11/15-reasons-why-vat-reduction-may.html A reader from the above blog came up with 15 good reasons as to why the VAT rate change may hinder instead of help the economy. We have added some of our own analysis to the comments: 1. Deflationary for the next 12 months -- Inflation causes the cost of products and services to go up over time. This VAT rate change will cause prices to go down, possibly risking the growth of our economoy at a time wh
How To Deal With The Vat Rate Change - Tips For Businesses
With the VAT rate change coming in on the first of December, companies across the country are scrambling to be ready in time. Here we go though some tips for companies trying to deal with the upcoming VAT rate change. Companies that do not identify VAT on customer receipts can continue to work as they did before. As a company, you do not have to reduce your prices. Of course, the government is trying to get business to pass the savings on to customers, however, there is nothing t
Uk Vat Rate Changes
The Chancellor announced in his Pre-Budget Report that, on the 1st of December, the standard VAT rate will reduce from 17.5% to 15% until the end of next year. For consumers, this means that the providers of any standard rate VAT products and services should charge the new rate of VAT from this date. Only standard-rated sales are affected. There are no changes to sales that are zero-rated or reduced-rated for VAT. Similarly, there are no changes to the VAT exemptions.