Thomson Reuters and GE will be hosting a session at the 2012 ACT Conference on how to achieve global tax support by consolidating your company's VAT determination, reporting, and compliance processes. Session Information: Title: Combine VAT Determination and Tax Compliance to Achive Global Tax Support Wednesday May 23, 2012 3:00pm - 4:15pm Walt Disney World ...
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Webinar: Ensuring VAT Compliance in the Global Marketplace:Reducing Audit Risks and Improving Process Efficiency
Indirect Tax, ONESOURCE, VAT Tax Rates, VAT-GST Management 0 CommentPosted on May 10, 2012
Join Thomson Reuters and Aberdeen Group  for a special webcast to uncover processes and supporting technologies that allow successful global indirect tax management. Doing business in a global market has its share of challenges. Ensuring proper value-added tax (VAT) registration and management is one that should not be overlooked. Effective VAT management ...
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French Booksellers Nervous Following VAT Rise
Indirect Tax, ONESOURCE, Sales and Use Tax, VAT Tax Rates 0 CommentPosted on April 20, 2012
Small independent booksellers in France are concerned that the recent rise in VAT on books to seven per cent from 5.5 percent may drive them out of business. France is known for its  independent booksellers that offer the best of both worlds -- one-on-one service and a comfortable setting where you can ...
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The Advantages of Automating VAT Determination and Compliance
Indirect Tax, ONESOURCE, VAT Tax Rates, VAT-GST Management 0 CommentPosted on April 9, 2012
Many users of the world's most sophisticated and widely embraced enterprise resource planning (ERP) systems still use desktop spreadsheets to manage their value-added tax (VAT) and statistical filing processes. It's labor-intensive work that may not catch every error and leaves the VAT processes without rigorous controls. It also puts companies ...
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Finland — VAT Increase Announced
Indirect Tax, ONESOURCE, Sales and Use Tax, Transaction Tax, VAT Tax Rates 0 CommentPosted on March 28, 2012
Following budget deliberations this week Finnish Government Ministers have announced an increase in value added tax (VAT) across the board by one percentage point. Prime Minister Jyrki Katainen has indicated raises in tax rates will take precedence over saving cuts in the government’s budget plans. The planned increase, which will affect ...
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Czech Republic VAT Rate Increase Proposed
Indirect Tax, ONESOURCE, Sales and Use Tax, Transaction Tax, VAT Tax Rates 0 CommentPosted on March 20, 2012
Czech Minister of Finance Miroslav Kalousek has announced new draft tax measures the government plans to introduce as part of a 2012-2014 austerity package. Included is a proposal to replace the standard 20 percent VAT rate and the special 14 percent VAT rate with a flat rate of 17.5 percent, ...
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Japan Considering Increasing VAT Rate by 2015
Indirect Tax, ONESOURCE, Sales and Use Tax, VAT Tax Rates 0 CommentPosted on December 30, 2011
Japan’s JiJi Press reports that the ruling Democratic Party of Japan (DJP) will propose a two-step hike in the national consumption tax to 10% from the present 5% by 2015. At 5%,  Japan's consumption tax is currently one of the lowest in the world well below the European average rate ...
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Quebec Sales Tax Changes
Indirect Tax, ONESOURCE, VAT Tax Rates, VAT-GST Management 0 CommentPosted on October 20, 2011
 On September 30, 2011, the governments of Canada and Quebec agreed to harmonize the Quebec Sales Tax (QST) with the Goods and Services Tax (GST). The change will take effect January 1, 2013. The government of Quebec will amend the QST including but not limited to: Remove the GST from the QST ...
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Italy Increases VAT to 21%
Indirect Tax, ONESOURCE, VAT Tax Rates, VAT-GST Management 0 CommentPosted on September 26, 2011
Italy's VAT increase from 20% Â to 21% was published in the Gazzetta Ufficiale on September 16, 2011 and took effect on September 17, 2011. Â The VAT increase was part of a set of austerity measures to balance the budget in Europe's third largest economy. The rate change was the first rate ...
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Thomson Reuters Releases Indirect Tax Update Report with Q2 2011 Tax Changes
Indirect Tax, ONESOURCE, Sales and Use Tax, VAT Tax Rates 0 CommentPosted on August 10, 2011
Thomson Reuters has released the latest ONESOURCE Indirect Tax report which incorporates Q2 changes to VAT and sales and use tax codes. There were a total of 184 changes in the United States with 86 percent of those changes increases or new taxes. Internationally, there were 86 VAT changes, bringing ...
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Last Thursday, the Peruvian Congress approved the Executive’s Bill which establishes a reduction to the Value Added Tax (IGV) from 19% to 18%. The new rate will be effective the first day of the month following its publication in the Official Gazette, El Peruano.
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Last month, the Costa Rican Government presented to Congress a new Bill, which proposes a tax reform. One of the main proposals is to transform the Sales Tax on a Value Added Tax and to increase its current rate from 13% to 14%.
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EU VAT Rate and Rule Changes in Summary at the Beginning of 2011
Indirect Tax, VAT Tax Rates 0 CommentPosted on January 12, 2011
Changes to the EU VAT rates and rules in several EU countries has taken place as of January 2011. The most noted change has been the increase of the standard VAT rate in the UK as of 4 January 2011 from 17.5% to 20%. Greece increased the reduced VAT rate from 11% ...
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Oklahoma Tax Collection Practices Under Debate
Indirect Tax, VAT Tax Rates 0 CommentPosted on December 27, 2010
An Oklahoma Think Tank, The Oklahoma Academy, is recommending the state reconsider how it collects taxes. The group is a statewide, private, nonpartisan research and catalyst organization that focuses on public policy issues that have a direct impact on the state. It develops policy and community recommendations through town hall conferences. ...
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