Chris Skinner

MAY 25, 2020

Things we’re reading today include … This is why we’re proposing a wealth tax in Spain to help us out of this crisis | Pablo Echenique Companies in new investment fund must be ‘made in Yorkshire’ Goldman Sachs ramps up cash management plans despite coronavirus UBS announces global financing team … The post Things (..)

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Chris Skinner

MARCH 19, 2020

Things we’re reading today include … Former London bankers convicted after Germany’s ‘greatest tax robbery’ Why America’s financial plumbing has seized up ECB U-turn shows it fears coronavirus could destroy eurozone project The agonies of stock-picking in a falling market School closures in the UK are a financial catastrophe (..)

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PYMNTS

JANUARY 7, 2021

South Korea will begin taxing crypto benefits 20 percent, from both buying and selling, beginning in 2023, according to a report from Asia Today. million won (about $2,200) from digital assets will be hit with the 20 percent tax. The report stated the tax announcements were made Wednesday (Jan.

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Bitcoin Taxes Washington Report 276

Perficient

DECEMBER 17, 2020

With the de-support of Adobe Flash by the major browsers at the end of 2020, access to the user interface for the older versions of Vertex O Series will no longer be available in 2021 using Microsoft IE and MS Edge, Google Chrome and Apple Safari. And, let’s hope that 2021 is an improvement over 2020! Versions 6.0,

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PYMNTS

NOVEMBER 25, 2020

The potential amendment to bring in the tax plan is intended to take effect in October of next year, but the legislative body is aiming to have the taxation timeframe begin in the first month of 2022.

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PYMNTS

NOVEMBER 25, 2019

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.

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BankBazaar

JANUARY 31, 2020

To this end, the government proposed a slew of changes and incentives among which was a major tax rejig. Let’s take a look at the major highlights of Union Budget 2020: The budget had three main themes: Aspirational India. The FM said that GST has integrated the economy and consolidated multiple taxes. Tax Changes.

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PYMNTS

JANUARY 6, 2020

As 2020 dawns, regulators are continuing to focus on taxes and possible anti-competitive behavior on the part of tech’s marquee names. One continuing theme that will play out into the new year (and well beyond): taxes. The tax took effect at the beginning of this year. million euros of that tally derived from Italy.

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PYMNTS

FEBRUARY 10, 2020

The jousting over eCommerce taxes — especially for U.S. Last week in India, the government proposed a tax on eCommerce transactions that will likely increase operating costs for sellers large and small. The tax, technically known as “Tax Deducted at Source” (TDS), is sent directly to an account held by the central government.

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PYMNTS

FEBRUARY 10, 2019

In other news, New Hampshire is considering a law that would allow residents to pay their taxes with cryptocurrency. CoinDesk reported that NH House Bill 470 would allow state agencies to accept digital currency for tax payments. The payments will then begin to be accepted by July 2020.

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Bitcoin Taxes New Hampshire Payments 184

PYMNTS

FEBRUARY 12, 2020

The Australian Taxation Office (ATO) is warning small and medium-sized businesses (SMBs) that if they don’t pay their taxes on time, they could face consequences like a reduction in credit rating, Mozo reported on Wednesday (Feb. percent of respondents said meeting tax payments promptly would create cash flow issues in their business.

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PYMNTS

JANUARY 8, 2021

Eligible taxpayers who didn’t receive their payment will need to claim it on their 2020 tax returns, CNBC reported. Some residents are receiving messages that they can only get their checks after filing their 2020 tax returns. The Treasury Department said it set up a special website for EIP card information.

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Cards Taxes Payments How To 322

PYMNTS

DECEMBER 27, 2019

Retailers that want to sell merchandise nationwide must pay attention to how each state’s tax code treats their goods. For example, products considered to be exempt medical necessities in some states might be taxed at high rates in others. 100: Minimum number of local tax codes in Alaska.

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PYMNTS

AUGUST 10, 2020

Consumers and other businesses can access their tax refunds, benefits, freelance income, insurance claims, dividend payments and other disbursements within 30 minutes of being paid — sometimes even within seconds. Instant payments are one of these solutions, allowing companies to digitally transfer funds 24/7 year-round.

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Perficient

JUNE 30, 2022

In 2020, The Bahamas legislation passed two digital-asset-specific pieces of legislation: the Digital Assets and Registered Exchanges Act (the DARE Act) and the Financial and Corporate Service Providers Act (the FCSP Act), which established safeguards for the custody of digital assets. Legislative Initiatives. Attracting Crypto Corporations.

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PYMNTS

JULY 1, 2020

billion non-cash goodwill charge before tax, as the retailer’s long-haul forecast and market capitalization shifted, mainly due to the coronavirus health crisis. Macy’s Chairman and Chief Executive Officer Jeff Gennette said in the statement, “The first quarter of 2020 was challenging for the country, the industry and Macy’s, Inc.

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PYMNTS

MAY 28, 2020

The last halving was on May 11, 2020. South Korea is pondering a modification to its tax law which could place taxes on cryptocurrencies. South Korea attempted to impose taxation on cryptocurrency early in 2020. Decenter reported that the country’s legislation would be brought before Parliament in September 2020.

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PYMNTS

JULY 7, 2020

The Southeast Asian country’s national tax office announced it will impose a 10 percent value-added tax (VAT) on foreign global technology companies as the nation looks for ways to defray the costs of battling the economic effects of the COVID-19 pandemic, Reuters reported. The country’s total budget for 2020 is $177.6

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PYMNTS

NOVEMBER 25, 2019

Isaacson, a lawyer, Bowdoin College professor, senior partner at Brann & Isaacson and Data & Marketing Association tax counsel, argued Wayfair’s side in the precedent-setting Supreme Court case that has small businesses struggling. is the only country that has such a complex consumption tax system.” .

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PYMNTS

JANUARY 27, 2020

To say that 2020 has already started off as a busy year for the Consumer Financial Protection Bureau (CFPB) might be an understatement. Digital Taxes, Abroad. Separately, in Davos this past week , with a nod toward digital taxes and trade disputes, the U.S. There’s still some work to be done,” he said at a conference in Davos.

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New York Taxes California Conference 179

PYMNTS

DECEMBER 23, 2019

Indonesia has announced it’s going to reduce the threshold for taxing imported eCommerce consumer goods from $75 to $3, to help control the purchases of cheap foreign goods and help protect smaller Indonesian firms, according to a report by Reuters. They’ll be taxed at a rate of 32.5 million last year and 6.1 percent to 37.5

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PYMNTS

JANUARY 17, 2020

Historians and economists regularly look to tax policies to get a sense of what happened within a particular industry, society or country. No doubt the chronicles to come about the rise of the internet age and the spread of digital culture will include serious treatment of tax issues. Taxing Confusion. billion in 2022.”.

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PYMNTS

SEPTEMBER 30, 2019

Scrutiny of tech firms is spreading across the globe, hinting at broader regulations over privacy and, possibly, bigger tax bills. In one example, Indonesia is “already preparing legislation” that would require tech companies with online services to pay value-added tax on local sales, the report noted. Libra, Too.

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Taxes Regulation cryptocurrency Google 133

PYMNTS

SEPTEMBER 27, 2019

In a move that increases pressure on multinationals, European Union commissioners-designate said the bloc should come to an agreement on a digital tax if a deal doesn’t happen at a worldwide level by the conclusion of 2020. He would aim to prevent separate bloc governments from having the ability to nix tax decisions.

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PYMNTS

JULY 15, 2020

Today (July 15) is Tax Day , and despite it coming three months later than normal due to COVID-19, several million Americans will be scrambling to get their returns (or at least their applications for extensions) out the door by midnight. Olson thinks the IRS might need 18 months to work through all of that paper, delaying some tax refunds.

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Taxes National Regional Report 146

PYMNTS

APRIL 5, 2020

Online tax preparation service TurboTax has announced that it is rolling out a free, stimulus registration solution to assist people who are not required to file a tax return. who are not required to file taxes, and some 80 percent are eligible for a stimulus check. There are roughly 10 million people in the U.S.

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PYMNTS

OCTOBER 14, 2019

Italy is preparing to tax digital companies to help fund its 2020 budget as it seeks different revenue streams to avoid a scheduled sales tax hike, sources told Reuters on Monday (Oct. Companies with annual global revenues of $827 million and digital services of $6 million in Italy will be subject to the tax.

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PYMNTS

DECEMBER 16, 2019

Is there a better way to deal with online sales taxes ? And how will challenger banks fare in 2020? Can digital technology really take the hassle out of used car sales – and compete with dealerships and lots? Will fraudsters run wild this holiday shopping season ? Data: 62 percent: Portion of U.S. 73 percent: Share of U.S.

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PYMNTS

APRIL 17, 2020

The ongoing coronavirus pandemic has caused Uber to withdraw its 2020 guidance as it anticipates a $1.9-$2.2 The company retracted its 2020 forecast for gross bookings, adjusted net revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA).

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Conference Taxes Industry Company 145

PYMNTS

SEPTEMBER 3, 2019

eCommerce firms are navigating a tax collection environment that increasingly requires technology and automation to ensure compliance. eCommerce sales in 2020. In corporate payments news, Citi is tapping into application programming interface (API) calls to make treasury ops real-time. 659B : Estimated potential value of U.S.

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PYMNTS

FEBRUARY 18, 2020

The coronavirus outbreak has pushed Japan to the brink of a recession as tourism slides and spending drops in response to a sales tax hike, The Wall Street Journal (WSJ) reported on Monday (Feb. A dip in private consumption was blamed on the hike in the national sales tax to 10 percent on Oct. percent contraction. 1 from 8 percent.

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PYMNTS

JUNE 9, 2019

The Group of 20 finance ministers said over the weekend that they will come up with common rules to prevent tech companies from using tactics to lower taxes. We will redouble our efforts for a consensus-based solution with a final report by 2020.”. having to pay more taxes overseas. Reuters noted that the U.K.

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PYMNTS

JANUARY 1, 2021

The pandemic-induced challenges have also been taxing for community financial institutions (FIs) and credit unions (CUs), as many were not designed to operate remotely. Credit Union. The past year has been one of the most trying in recent memory for lenders as well as consumers.

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PYMNTS

NOVEMBER 16, 2020

Group Seeks to Block Maryland Online Advertising Tax. Marylanders for Tax Fairness is preparing for a battle in January over the state’s attempt to make a digital advertising tax, the Baltimore Sun reported. Maryland legislators ratified the tax earlier in 2020, but Gov. Larry Hogan vetoed the levy.

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PYMNTS

JANUARY 16, 2020

In other news, South Korean cryptocurrency exchange Bithumb is going to court to fight an almost $69 million tax bill from the National Tax Service (NTS), according to a report Thursday (Jan. The tax is called a retention tax, which is an income tax paid to the government by the income payer and not its recipient.

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PYMNTS

JANUARY 11, 2021

US Trade Representative: India, Italy, Turkey Digital Taxes Discriminates Against US Firms. Trade Representative (USTR) recently released the results of Section 301 probes of digital services taxes (DSTs) that Turkey, Italy and India have adopted, finding that each tax “discriminates against U.S. Billion Of French Products.

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PYMNTS

MAY 13, 2020

The IRS is seeking to have contractors assist in auditing digital currency tax returns, according to a post on CryptoTrader.Tax ‘s website. CryptoTrader.Tax is a tax software platform and is used by bitcoin as well as digital currency investors to manage their reporting. Phemex publicized a $3.5

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