British lawmakers are exploring levying an extra tax on companies that benefited from COVID-19 and have summoned executives from major firms that could be affected by such a measure for meetings to discuss the matter, London’s The Sunday Times reported. The Times reported that what...
Local government sales tax collections dropped 10 percent in 2020, according to a press release from the state comptroller. That comes out to a $1.8 billion drop, compared to last year. The drop overall was worse than that in the Great Recession, when the local...
Amazon is planning to hike fees for Spanish companies using its platform by 3 percent from April, according to a Reuters report, since the country’s government imposed a new digital tax. A spokesperson for Amazon said the so-called “Google tax” would end up hitting users....
Facing a growing budget deficit and the cries from local businesses about fairness, the Canadian government is proposing a new digital tax on foreign web giants such as Netflix, Facebook, Amazon and Google. The digital tax is part of a broader five-year, $3.4 billion levy...
Governments around the world are setting their sights on putting a variety of digital taxes on Big Tech giants. Here’s a look at some of the latest developments: France and the European Union France has long been angling to levy digital taxes, although such moves...
The Federal Trade Commission (FTC) is looking into Intuit over its TurboTax product, as the company allegedly was tricking customers into paying for what they could’ve gotten for free, according to a ProPublica report. The investigation will look into whether Intuit engaged in deceptive or...
Starting Tuesday (Sept. 1), U.S. paychecks could be a little fatter. That’s the day Social Security taxes will not be withheld as the result of President Donald Trump’s executive order to postpone payroll taxes through Dec. 31 to help taxpayers hurt by the pandemic. But...
The U.K. is planning to repeal a tax targeting Facebook, Amazon and Google amid opposition from the President Donald Trump administration, the Daily Mail reported. The 2 percent Digital Services Tax (DST) assessed against social media platforms, internet search engines and online marketplaces, will be...
The U.S. Department of the Treasury and the IRS are planning to send out interest payments totaling $18 on average to 13.9 million Americans who filed their tax returns in the last few months, according to a press release. The interest payments are intended for...
