What Does the Average Brit Pay into and Take Out of the Welfare State?
The average British family paid about £25,000 in taxes in 2016 – up from £15,000 in 2015. Over a lifetime, that works out to be roughly £823,439 per household.
Crystal worldwide Blog
Netflix Avoids Tax in the UK
According to Netflix’s latest UK filings, the video-streaming service saw close to a 40 percent decrease in its UK tax bill from 2015 to 2016 – and it seemingly paid taxes on just a small fraction of its total UK revenues.
The UK Fizzy Drink Tax
In an effort to reduce rates of childhood obesity and raise additional revenue, the UK government passed draft legislation this past spring adding a tax to sugary drinks.
How Did One of Britain’s Richest Men Inherit Billions and Avoid Tax?
Why didn’t the new Duke of Westminster have to pay any inheritance tax? It turns out that the vast majority of his inheritance was passed down via family trusts, which still fall outside the scope of inheritance tax rules in the UK.
IMF Warns Against U.S. Tax Cuts for the Wealthy
The International Monetary Fund (IMF) offered a blunt message to international policymakers in advance of its annual meeting earlier this month: By cutting taxes for the wealthy, politicians are jeopardizing economic growth globally and undermining prosperity.
BNP Paribas Loses Tax Avoidance Case
The French banking company BNP Paribas lost a £35 million tax avoidance case with Her Majesty’s Revenue and Customs (HMRC), the UK government department responsible for tax collection.
Amsterdam to Increase Tourist Tax
The city of Amsterdam is reportedly planning to institute a tourist tax to curb the influx of visitors into the city. Tourism has increased dramatically in Amsterdam in recent years, sparking protest from locals. T
Could Trump Be Forced to Disclose His Tax Returns in 2020?
Trump famously resisted all calls to release his tax returns in the 2016 presidential elections, claiming victory in spite of refusing to release the returns. But could he be forced to disclose his tax returns if he were to run again in 2020? Lawmakers in California hope so.
British MPs Say Amazon Turning a Blind Eye to VAT Evasion
British MPs have accused major online retailer Amazon of evading VAT at the expense of taxpayers. VAT, or value added tax, is a 20 percent consumption tax added to goods and services that are bought and sold in the European Union. In the UK, all companies with a turnover that is greater than £85,000 must register with the government to pay VAT.
4 Consequences of US Tax Reform
Over the course of the past several weeks, President Trump has consistently called for tax reform, and the Senate Finance Committee has scheduled hearings on both business and individual tax reform.