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As Consumers Embrace eCommerce, Tax Complexity Grows

PYMNTS

The Supreme Court ruling has started the ball rolling for states and municipalities to tax eCommerce – specifically, out-of-state firms and online marketplaces. But there have already been disputes making their way through the courts, as detailed in the latest Next-Gen Sales Tax Tracker.

Taxes 150
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EU Wants US Tech Giants To Pay Revenue Tax

PYMNTS

Germany, France, Italy and Spain’s finance ministers have announced plans to tax tech multinationals, such as Amazon and Alphabet Inc./ billion in back taxes plus interest for “undue tax benefits” obtained from the Irish government from 2003 to 2014. That means a 10 percent tax would amount to $3.5

Taxes 115
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Revealed: Barclays avoids almost £2bn in tax via Luxembourg scheme

TheGuardian

Exclusive: Arrangement has allowed bank to earn billions of pounds nearly tax-free for over 12 years Barclays has avoided nearly £2bn in tax via a lucrative arrangement in Luxembourg that allowed it to pay less than 1% on profits in the tax haven for more than a decade.

Taxes 98
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NerdWallet Acquires SMB Finance Platform Fundera

PYMNTS

Tax software company Intuit , which runs TurboTax and QuickBooks , eyed buying NerdWallet, alongside Credit Sesame , Finicity and CreditKarma , the last of which it did end up purchasing early this year. NerdWallet was founded in 2009 and had raised $105 million in funds as of March.

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'Super deduction' may not be the most effective use of a £25bn tax break

TheGuardian

Chancellor’s eye-catching policy could end up rewarding investment that would have happened anyway Rishi Sunak flags tax rises in budget as total Covid spending tops £400bn Budget 2021: key points at a glance One can usually take a mental break when the budget speech turns to capital allowances. It’s the tinkering bit. Continue reading.

Taxes 76
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Email Fraudsters Take Advantage Of Coronavirus Opportunity

PYMNTS

has been accused by federal prosecutors of “one of the most extreme abuses of trust,” allegedly stealing from small businesses, corporates and nonprofits between 2009 and 2015 in the Philadelphia area. Payroll Professionals Inc owner Myles Hannigan is serving a four-year sentence after pleading guilty to tax fraud, reports noted.

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Western Union Mulls Sale Of B2B Payments Unit

PYMNTS

According to reports, the business payment operations have become burdensome for Western Union following corporate tax changes that affect the finances of U.S. .” In response to reports, shares rose by more than 3 percent on Wednesday, leading Western Union to reach a market valuation of $8.6 businesses in their overseas operations.

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