article thumbnail

Rate of UK shop closures expected to rise after budget tax changes – report

TheGuardian

More than 12,800 stores shut in 2024, down on 2023, but extra costs expected to take toll this year, study suggests The UKs high streets are expected to empty out at a faster pace this year as extra costs imposed on businesses by Rachel Reeves are blamed for shops closing and a slowdown in chain store openings.

Taxes 95
article thumbnail

7 Ways Instant Payments Impact Deposit Performance

South State Correspondent

Background We combine our experience with data from the Federal Reserve and a recent study by Lu, Song, and Zeng at the University of Washington and the University of Pennsylvania that analyzed 50 billion transactions across multiple banks and credit unions. By including the instant channel in the calculation, that settlement time drops to 1.5

Payments 195
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Amazon (And Others) Brace For India’s New eCommerce Tax

PYMNTS

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.

Taxes 175
article thumbnail

US Treasury: Taxes On Digital Companies Are Discriminatory

PYMNTS

Treasury official said a French tax plan targeting American digital companies is discriminatory against American businesses. Treasury’s top international tax official, called the taxes “ill-conceived,” and said the better option was to go after tax reform internationally at the Organisation for Economic Co-operation and Development ( OECD ).

Taxes 132
article thumbnail

The Impact of Reciprocal Tariffs on Community Banking

South State Correspondent

“Liberation Day” brought a 10% baseline tax on all imports plus a 15% to 49% tariff rate on a defined set of nations (below). Tariffs are taxes imposed on imported goods, increasing their prices for domestic consumers and businesses. These studies suggest that a 10% increase in tariffs for intermediate goods leads to a 0.3%

article thumbnail

Data Governance in Banking and Financial Services – Importance, Tools and the Future.

Perficient

These rules are about as fun as reading tax code, but they’re crucial in ensuring customer data is protected, privacy is maintained, and banks don’t end up with regulators breathing down their necks.

Tools 221
article thumbnail

Indonesia Levies 10 Pct Tax On Sales From Tech Firms

PYMNTS

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

Taxes 141