Switzerland’s Council of States has approved a 0.2 percentage-point increase in value-added tax to help finance an additional 24 billion francs for the army, SRF reported. The proposal will now go to the National Council. The chamber agreed that the Federal Council’s proposed 0.5 percentage-point…

Trump Threatens Steep 50% Tariff on European Union Amid Trade Talks Breakdown President Donald Trump shook up the trade world

Value Added Tax (VAT) is a major part of doing business in many regions across the world. Whether you operate a small enterprise or a large multinational company, VAT plays a crucial role in your tax obligations and financial reporting. Yet, despite its widespread application, VAT compliance continues to be one of the most misunderstood […] The post VAT Trouble? These Issues Are More Common Than You Think first appeared on Flowster.

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Estonia’s restaurant sector remains in crisis as costs rise while revenue stagnates, ERR reported. Restaurant operators say the 24 percent value-added tax has eliminated their remaining financial buffer and are calling on the government to reduce the tax on catering businesses to 13 percent. Seve…

Runólfur Ólafsson, managing director of the Icelandic Association of Car Owners, still hopes the government will lower value-added tax on fuel again, mbl.is reports. A temporary reduction ended at the turn of the month, raising the tax from 11% back to 24%. The cut was part of the government’s me…

Sigríður Á. Andersen, parliamentary group leader of Iceland’s Centre Party, has called on the government to make the reduction in value-added tax on fuel permanent, mbl.is reports. VAT on petrol and diesel will rise from 11% to 24% at midnight. The tax was temporarily reduced at the beginning of …

Switzerland’s Federal Council is pressing ahead with a plan to raise value-added tax by 0.5 percentage points for 12 years to fund army equipment, SRF reports. The measure would generate 24 billion Swiss francs, all of which would be used for military procurement. The Federal Council approved its…

Direct taxes and indirect taxes are the two types of taxes helping governments raise funds to build schools, hospitals, roads, and more.

Taxes are an essential component of any country. They give governments the money they need to pay for basic necessities like healthcare…

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Avocado Roundup is a quick morning review of top tax, legal, and climate news stories. It’s written by humans.