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#taxation — Public Fediverse posts

Live and recent posts from across the Fediverse tagged #taxation, aggregated by home.social.

  1. 🇫🇷 Retirements, donations, income tax... What is already known about the French 2027 budget

    To reduce the deficit, the government plans to make retirees contribute, particularly through pensions or their tax allowance.

    #EU #France #Taxation #PublicFinance

    latribune.fr/article/economie/

  2. 🇳🇱 Wealthy individuals divided over box 3 tax: 'My perspective has changed'

    The discussion over the box 3 tax is resurfacing, not only in politics but also outside of it.

    #EU #Netherlands #Taxation #Finance #Economics

    nos.nl/l/2630679

  3. Philippines Supreme Court Upholds Law Granting VAT Refund To Foreign Tourists

    Remember the law granting value-added tax refund (VAT refund) to foreign tourists signed a few years ago? That law was challenged and recently the Supreme Court of the Philippines upheld the constitutionality of Republic Act 12079 (the act creating a VAT refund mechanism for non-resident tourists), according to a news report by GMA News.

    To put things in perspective, posted below is an excerpt from the report of GMA News. Some parts in boldface…

    The Supreme Court (SC) has upheld the constitutionality of a law that grants value-added tax (VAT) refunds on select local purchases by non-resident foreign tourists.

    In a 30-page decision, the SC En Banc dismissed a petition challenging the validity of Republic Act 12079, or an act creating a VAT refund mechanism for non-resident tourists, adding Section 112-A to the National Internal Revenue Code.

    Granting VAT refund to foreign tourists was not arbitrarily done. It is a policy decision based on legitimate state interests, i.e. the need to remain competitive as a global tourist destination,” the SC said.

    “In fine, foreign tourists may be granted privileges and benefits that are not extended to Filipino citizens, so as long as these distinctions are based on reasonable and justifiable classifications, as in here,” it added.

    According to the SC, the VAT refund applies to goods brought from duly accredited stores and taken out of the country within 60 days from purchase. The goods must be priced at least P3,000 per transaction.

    Meanwhile, the SC said Section 5 of the law’s implementing rules and regulations limit the refund to retail and tangible goods, including clothing, apparel, electronics, gadgets, jewelry, accessories, souvenirs, food or non-food consumables, and other items intended for personal use.

    The petitioner, however, argued that the law violates the constitutional guarantee of equal protection as it excludes Filipino citizens.

    For its part, the SC said equal protection does not require identical treatment for all persons.

    It said the act also distinguishes foreign tourists from Filipino citizens.

    According to the SC, the VAT refund system follows the basic rule of VAT that goods are taxed where they are consumed. If the goods are consumed in the Philippines, they remain subject to Philippine VAT.

    Meanwhile, the SC added that VAT refund for foreign tourists is a well-established international practice.

    The Philippines is among the last few countries in Asia to adopt such a system. Our Asian neighbors, Indonesia, Malaysia, Singapore, Thailand, Vietnam, China, and Japan have long implemented this VAT refund mechanism for foreign tourists,” it said.

    Let me end this post by asking you readers: What is your reaction to this recent development? Do you agree with the Supreme Court’s decision on the law about VAT refund for foreign tourists? Apart from the VAT refund for foreign tourists, what problems that plagued the Philippine tourism industry should the government solve this year?

    You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

    +++++

    Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

    #ASEAN #Asia #AssociationOfSoutheastAsianNationsASEAN #BankOfThePhilippineIslandsBPI #Bing #BongbongMarcos #business #businessNews #CarloCarrasco #ChatGPT #corruption #DepartmentOfTourismDOT #economicConfidence #economicDynamism #economicGrowth #Facebook #floodControlScandal #foreignTourists #foreignVisitors #geek #GMANetwork #GMANews #Google #GoogleSearch #governance #holiday #Instagram #internationalVisitors #Investagrams #justice #law #Marcos #news #Philippines #PhilippinesBlog #Pinoy #PresidentMarcos #publicService #RepublicActNumber12079RA12079 #socialMedia #SoutheastAsia #SupremeCourt #tax #taxation #taxes #technology #tourism #tourismBlog #tourist #touristBlog #tourists #travel #travelBlog #Twitter #vacation #valueAddedTaxVAT #VATRefund #Visitors #WordPress #WordPressCom #worldTravel
  4. Philippines Supreme Court Upholds Law Granting VAT Refund To Foreign Tourists

    Remember the law granting value-added tax refund (VAT refund) to foreign tourists signed a few years ago? That law was challenged and recently the Supreme Court of the Philippines upheld the constitutionality of Republic Act 12079 (the act creating a VAT refund mechanism for non-resident tourists), according to a news report by GMA News.

    To put things in perspective, posted below is an excerpt from the report of GMA News. Some parts in boldface…

    The Supreme Court (SC) has upheld the constitutionality of a law that grants value-added tax (VAT) refunds on select local purchases by non-resident foreign tourists.

    In a 30-page decision, the SC En Banc dismissed a petition challenging the validity of Republic Act 12079, or an act creating a VAT refund mechanism for non-resident tourists, adding Section 112-A to the National Internal Revenue Code.

    Granting VAT refund to foreign tourists was not arbitrarily done. It is a policy decision based on legitimate state interests, i.e. the need to remain competitive as a global tourist destination,” the SC said.

    “In fine, foreign tourists may be granted privileges and benefits that are not extended to Filipino citizens, so as long as these distinctions are based on reasonable and justifiable classifications, as in here,” it added.

    According to the SC, the VAT refund applies to goods brought from duly accredited stores and taken out of the country within 60 days from purchase. The goods must be priced at least P3,000 per transaction.

    Meanwhile, the SC said Section 5 of the law’s implementing rules and regulations limit the refund to retail and tangible goods, including clothing, apparel, electronics, gadgets, jewelry, accessories, souvenirs, food or non-food consumables, and other items intended for personal use.

    The petitioner, however, argued that the law violates the constitutional guarantee of equal protection as it excludes Filipino citizens.

    For its part, the SC said equal protection does not require identical treatment for all persons.

    It said the act also distinguishes foreign tourists from Filipino citizens.

    According to the SC, the VAT refund system follows the basic rule of VAT that goods are taxed where they are consumed. If the goods are consumed in the Philippines, they remain subject to Philippine VAT.

    Meanwhile, the SC added that VAT refund for foreign tourists is a well-established international practice.

    The Philippines is among the last few countries in Asia to adopt such a system. Our Asian neighbors, Indonesia, Malaysia, Singapore, Thailand, Vietnam, China, and Japan have long implemented this VAT refund mechanism for foreign tourists,” it said.

    Let me end this post by asking you readers: What is your reaction to this recent development? Do you agree with the Supreme Court’s decision on the law about VAT refund for foreign tourists? Apart from the VAT refund for foreign tourists, what problems that plagued the Philippine tourism industry should the government solve this year?

    You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

    +++++

    Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

    #ASEAN #Asia #AssociationOfSoutheastAsianNationsASEAN #BankOfThePhilippineIslandsBPI #Bing #BongbongMarcos #business #businessNews #CarloCarrasco #ChatGPT #corruption #DepartmentOfTourismDOT #economicConfidence #economicDynamism #economicGrowth #Facebook #floodControlScandal #foreignTourists #foreignVisitors #geek #GMANetwork #GMANews #Google #GoogleSearch #governance #holiday #Instagram #internationalVisitors #Investagrams #justice #law #Marcos #news #Philippines #PhilippinesBlog #Pinoy #PresidentMarcos #publicService #RepublicActNumber12079RA12079 #socialMedia #SoutheastAsia #SupremeCourt #tax #taxation #taxes #technology #tourism #tourismBlog #tourist #touristBlog #tourists #travel #travelBlog #Twitter #vacation #valueAddedTaxVAT #VATRefund #Visitors #WordPress #WordPressCom #worldTravel
  5. Philippines Supreme Court Upholds Law Granting VAT Refund To Foreign Tourists

    Remember the law granting value-added tax refund (VAT refund) to foreign tourists signed a few years ago? That law was challenged and recently the Supreme Court of the Philippines upheld the constitutionality of Republic Act 12079 (the act creating a VAT refund mechanism for non-resident tourists), according to a news report by GMA News.

    To put things in perspective, posted below is an excerpt from the report of GMA News. Some parts in boldface…

    The Supreme Court (SC) has upheld the constitutionality of a law that grants value-added tax (VAT) refunds on select local purchases by non-resident foreign tourists.

    In a 30-page decision, the SC En Banc dismissed a petition challenging the validity of Republic Act 12079, or an act creating a VAT refund mechanism for non-resident tourists, adding Section 112-A to the National Internal Revenue Code.

    Granting VAT refund to foreign tourists was not arbitrarily done. It is a policy decision based on legitimate state interests, i.e. the need to remain competitive as a global tourist destination,” the SC said.

    “In fine, foreign tourists may be granted privileges and benefits that are not extended to Filipino citizens, so as long as these distinctions are based on reasonable and justifiable classifications, as in here,” it added.

    According to the SC, the VAT refund applies to goods brought from duly accredited stores and taken out of the country within 60 days from purchase. The goods must be priced at least P3,000 per transaction.

    Meanwhile, the SC said Section 5 of the law’s implementing rules and regulations limit the refund to retail and tangible goods, including clothing, apparel, electronics, gadgets, jewelry, accessories, souvenirs, food or non-food consumables, and other items intended for personal use.

    The petitioner, however, argued that the law violates the constitutional guarantee of equal protection as it excludes Filipino citizens.

    For its part, the SC said equal protection does not require identical treatment for all persons.

    It said the act also distinguishes foreign tourists from Filipino citizens.

    According to the SC, the VAT refund system follows the basic rule of VAT that goods are taxed where they are consumed. If the goods are consumed in the Philippines, they remain subject to Philippine VAT.

    Meanwhile, the SC added that VAT refund for foreign tourists is a well-established international practice.

    The Philippines is among the last few countries in Asia to adopt such a system. Our Asian neighbors, Indonesia, Malaysia, Singapore, Thailand, Vietnam, China, and Japan have long implemented this VAT refund mechanism for foreign tourists,” it said.

    Let me end this post by asking you readers: What is your reaction to this recent development? Do you agree with the Supreme Court’s decision on the law about VAT refund for foreign tourists? Apart from the VAT refund for foreign tourists, what problems that plagued the Philippine tourism industry should the government solve this year?

    You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

    +++++

    Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

    #ASEAN #Asia #AssociationOfSoutheastAsianNationsASEAN #BankOfThePhilippineIslandsBPI #Bing #BongbongMarcos #business #businessNews #CarloCarrasco #ChatGPT #corruption #DepartmentOfTourismDOT #economicConfidence #economicDynamism #economicGrowth #Facebook #floodControlScandal #foreignTourists #foreignVisitors #geek #GMANetwork #GMANews #Google #GoogleSearch #governance #holiday #Instagram #internationalVisitors #Investagrams #justice #law #Marcos #news #Philippines #PhilippinesBlog #Pinoy #PresidentMarcos #publicService #RepublicActNumber12079RA12079 #socialMedia #SoutheastAsia #SupremeCourt #tax #taxation #taxes #technology #tourism #tourismBlog #tourist #touristBlog #tourists #travel #travelBlog #Twitter #vacation #valueAddedTaxVAT #VATRefund #Visitors #WordPress #WordPressCom #worldTravel
  6. 📢NPArevolut°R📢 Taxer les superprofits des pétroliers ; une revendication populaire: Selon un sondage YouGov pour le HuffPost, face à la hausse des carburants, 66 % des personnes interrogées souhaitent taxer les bénéfices exceptionnels que… 📢NPA-R #taxation #superprofits #pétrole #carburants

    Taxer les superprofits des pét...

  7. 👋 Hello everyone!

    I’m Aashok Kumar Sharma, a finance professional with over 16 years of experience in Finance, Accounting Systems & Operations, IFRS, GAAP, Auditing, Taxation, and Company Law.

    On Mastodon, I look forward to sharing thoughts on finance, governance, taxation, and leadership, and connecting with others.

    Let’s build a network that values clarity, accuracy, and growth in the world of finance. 💼📊

    #Introduction #Finance #Accounting #IFRS #GAAP #Business #Leadership #Taxation

  8. ' “the government must escape the serial mistakes of the past 45 years, of trying to shrink the state and promote a self-organising market”. This drive towards a smaller state funded by lower levels of #taxation, a #ConservativePolicy, has left the #UK in terrible condition.'

    yorkshirebylines.co.uk/busines
    #ToryLegacy

  9. A quotation from Rogers, Will:

    «
    The budget is a mythical bean bag. Congress votes mythical beans into it, and then tries to reach in and pull real beans out.
    »

    Full quote, sourcing, notes:
    wist.info/rogers-will/3309/

    #quote #quotes #quotation #appropriations #budget #congress #debt #government #spending #taxation

  10. The world could get its first #trillionaire within 10 years
    Some measures #Oxfam said should be considered to reduce global #inequality include permanent #taxation of #wealthiest in every country, more effective taxation of big corporations and a renewed drive against #tax avoidance. "To end extreme inequality, governments must radically redistribute the power of #billionaires and corporations back to ordinary people," reports Oxfam.
    apnews.com/article/income-ineq