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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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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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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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'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 69
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Xero Partners With Square For Faster B2B Payments

PYMNTS

Xero also summarizes point-of-sale Square sales, including tips, surcharges and taxes. Square is headquartered in San Francisco, California and was founded in 2009 by Jim McKelvey and Jack Dorsey. This integration is intended to make it easier for SMBs to track sales and simplify reconciliation. last year and has offices in 20 cities.

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Personal Income, Consumer Spending Signal Weak Q1 Growth

PYMNTS

Amid the biggest drop in consumer spending since 2009, personal incomes in the U.S. percent in December in the largest fall since December of 2009. trillion tax cut package stimulus diminishes, the economy is “losing speed,” per the outlet. percent during the last three months of the year with the tax cut in the rear window.

Taxes 108
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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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