France’s ‘Digital Tax’ On Tech Firms Passes

PYMNTS

Even with the United States announcing it would look into a proposed “digital tax” in France, the country is moving forward with the measure. The country’s Senate has approved the tax despite the threat of an investigation from the United States, according to 9 to 5 Mac. The tax reportedly impacts any digital firm — Apple included — that has revenues exceeding $750 million with a minimum of $28 million generated in the country.

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When One State’s Tax-Exempt Necessity Is Another’s High-Tax Discretionary Purchase

PYMNTS

Sales taxes empower governments to maintain critical public services, but they can also make medical essentials too expensive for those who need them. Campaigns against taxing obligatory items are spreading across the United States, forcing states to rethink their revenue generation decisions.

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Tax Time Tardiness And The Faster Refund

PYMNTS

The federal tax filing deadline in 2020 has been waived in the wake of coronavirus disruptions. The president announced there will be no penalties or interest levied for late filing against those affected, and many states will certainly do the same. It’s About More Than Taxes.

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The (Un)Certainty Of eCommerce Sales Taxes

PYMNTS

The only certainties in life, the saying goes, are death and taxes. We’ll underscore the certainty of the latter — taxes — for eCommerce firms and sales taxes , especially. And yet, tax policy remains a bit of a patch quilt. Taxes, Local And Complex.

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The Economic Case For Remote Sales Tax Uniformity

PYMNTS

Wayfair play out for nearly two years, as states unfurl all kinds of economic nexus and marketplace facilitator policies. The cost of the new taxes does not seem to be weighing businesses down, but the pain of compliance certainly is, he said. . “It’s

Taxes 169

France Tax Authorities Demand Data From Airbnb

PYMNTS

Airbnb is facing a deadline to send data to French tax authorities over a law that compels marketplaces to provide revenue and other company information to the country, according to a report by Bloomberg. The threat forced Macron to suspend the taxes.

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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. After a European Union plan for tax reform fell apart, France, along with Britain, Italy and Spain, are moving forward with plans to tax companies like Google and Apple.

Taxes 217

Italy Will Tax Big Tech

PYMNTS

Italy has announced that it’s going to follow in France’s footsteps and tax big tech companies, a move that threatens to further complicate relations with the United States over the issue, according to a report by The Wall Street Journal.

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France Moving Forward With Big Tech Taxes

PYMNTS

Despite President Donald Trump’s recent threats, French Finance Minister Bruno Le Maire said that his country is moving forward with taxing big tech firms. It’s in our interest to have a fair digital tax,” Le Maire told reporters, according to Reuters.

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EU Will Not Implement Digital Tax, Agrees To Internet Tax Reform

PYMNTS

The European Union has announced that it will not move forward with a digital tax plan covering the entire EU, but also said it would look at reforming tax laws for internet companies, according to a report from Reuters.

Taxes 187

US And France Reportedly Reach Digital Tax Deal

PYMNTS

have reached a deal to end the standoff over a French tax on big internet companies, The Hill reported. Macron also took to Twitter : “Some digital players pay very little tax. Earlier this year, France passed a law that would tax revenues earned on digital services at 3 percent.

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Online Sales Tax’s ‘Pivotal,’ Post-Wayfair 2019 — And What Lies Ahead

PYMNTS

In an interview with PYMNTS, Liz Armbruester, senior vice president of Global Compliance at Avalara , said 2019 represented a watershed year for tax compliance as states embraced the economic nexus model and passed marketplace facilitator laws.

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Why Millennial SMB Owners Need Faster Tax Disbursements

PYMNTS

The joys of tax season: complex paperwork, long wait times and check disbursements. Refunds can also be slowed down if there is incomplete or missing information in individual tax returns, further complicating an already complex process. Lagging Tax Disbursements Cause Financial Strain.

Taxes 141

In South Korea, Treating (And Taxing) Crypto Gains As Income

PYMNTS

To get a better handle on crypto – and to boost government coffers, perhaps – change the tax designation (and rules, of course). Under rules governing “other income,” a 20 percent rate is levied on 40 percent of total other income; the remaining 60 percent can be tax-deductible.

Taxes 151

US Will Probe Whether French Tax On Tech Is Fair

PYMNTS

government will investigate whether a French plan to tax American technology companies is fair, and it could potentially issue retaliatory tariffs in response, according to a report by The Financial Times. Lighthizer said the tax unfairly spotlights American companies. . The U.S.

Taxes 141

It’s Congress, Not the Tax Exemption, That is Killing Community Banks

New York's State of Mind

Advocacy HR Legal Watch New York State Political Regulatory Cachet Financial Services municipal deposits MyPayrollHR Pioneer Savings Bank That Which We Call A Bank: Revisiting the History of Bank Holding Company Regulation in the United StatesCachet Financial Services, the company that I talked about in my blog this past Thursday, is going out of business.

Italy To Start Taxing Big Tech Firms On Jan. 1

PYMNTS

Italy has announced that it’s going to follow in France’s footsteps and tax big tech companies, a move that threatens to further complicate relations with the United States over the issue, according to a report by The Wall Street Journal.

Taxes 130

Tax Havens And Money Laundering Suspected In Deutsche Bank Raid

PYMNTS

Federal authorities in Germany raided six offices of Deutsche Bank on Thursday morning (November 29), searching for evidence about money laundering and offshore tax havens, according to a report by The Wall Street Journal.

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Guess How Much Tax Evasion Costs US Taxpayers?

PYMNTS

The Internal Revenue Service has estimated that the business of tax evasion is a costly one for the government. Tax cheats cost the government as much as $458 billion annually, according to data tabulated between 2008 and 2010. The rise in that “tax gap,” according to the Feds, may be due to better measurement rather than fraud actually getting worse. And the IRS has stated that it expects to recover about $52 billion of that aforementioned $458 billion.

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Bitcoin And The Bitter Tax Bite

PYMNTS

And lest you think changes in tax policy sow confusion only in the United States, think again. Bitcoin breeched a key psychological barrier on news that the South Korean government would tax income earned by virtual currency exchanges to the tune of 24.2 Bitcoin bitcoin cryptocurrency hercules tech ICO international investing News Payment Methods regulation Retail SEC taxThe taxman cometh. And the cryptos plummet.

Taxes 144

How many ways can a state tax a remote seller?

Perficient Financial Servies

There’s been a lot of focus in recent months about economic nexus, but there are many ways for a state to tax a remote sale. In Wayfair, the Supreme Court of the United States found in favor of the state and overruled a physical presence rule that long kept states from taxing remote sales. More than 30 states have adopted economic nexus since Wayfair, and others are looking to do so this year. Oracle Avalara sales tax

Taxes 66

Arizona Considers Accepting Tax Payments In Cryptocurrency

PYMNTS

Two years after legislators in New Hampshire decided that they would not allow their citizens pay their taxes with bitcoin, the Arizona state legislature is mulling a bill that would pave the way for people to pay their Arizona taxes with cryptocurrencies, Coindesk reported. Once the state receives those payments, it would have 24 hours to convert the digital currency to U.S. Arizona State Rep.

Sales Tax 101 – 3 Basic Facts About Sales Tax Compliance

Perficient Financial Servies

How often do you think about sales tax? Although not the most scintillating topic, sales tax should be a priority for any company that sells taxable goods or services. For starters, there’s a lot more to sales tax than rates. In addition, many businesses don’t realize that they can have sales tax obligations in more than one state, or that complying with a state’s sales and use tax may require something other than collecting tax or filing returns.

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Trade War’s Ripple Effect Means Currency, Commerce, Payments Waves

PYMNTS

Amid the swirl of headlines that focus on the back and forth between China and the United States, and the continuing escalation of tariffs, the ripple effects and casualties will be far-reaching. All of this may augur well for economies that are not the United States — at least when it comes to finding final markets for finished goods.

San Francisco Official Wants Tax On Robots That Put People Out Of Work

PYMNTS

With a growing number of automated machines performing jobs and tasks that could eliminate jobs, one San Francisco official is pushing a statewide “tax” in California on robots that put people out of work. The Associated Press reported that Jane Kim, the city supervisor who introduced the robot tax, says now is the time to think about how people will earn a living as more U.S.

Sprint And T-Mobile Merger, Spend Management And State Tax Top This Week’s News

PYMNTS

We have a deep dive into spend management in addition to news involving the Sprint and T-Mobile merger, as well as data on state tax laws. . Gov’t Fights States’ Bid To Block Sprint, T-Mobile Merger Saying Move Would Slow 5G. A group of state attorneys is joining together to fight a merger of Sprint and T-Mobile that the United States Justice Department supports. A ‘Diaper’ By Any Other Tax Code: The Complexities Of Selling Across State Tax Laws.

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Europe Seeks To Have G20 Tackle Tech Firm Taxation

PYMNTS

Europe has long sought to make very profitable Big Tech companies conducting business through the web pay tax where they sell their offerings instead of in tax havens. The continent now wants global financial leaders to make taxing digital giants a priority in 2020, Reuters reported.

EU And Tech Firm Taxes Dominate Regulatory Landscape

PYMNTS

Tax season, indeed. The regulatory landscape was dotted with news out of Europe centered on the way that tech firms do business — and how they’re taxed. As for taxes , tech behemoths under scrutiny across a separate proposal might face taxation on digital activities of as much as 3 percent of turnover. Everyone from Alphabet to Twitter could see gross revenues levied the tax as they offer services such as advertising.

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2018 Sales Tax Changes You Need to Know

Perficient Financial Servies

Like many years, 2018 is shaping up to be a big year for sales tax changes. In addition to run-of-the-mill activities like expanding sales tax to new goods and services and exempting or reducing rates on others, states are pushing ahead with attempts to increase remote sales tax collections. In fact, 2018 may go down in history as the year states broke through the physical presence barrier. Taxing the Marketplace. In most states, it still doesn’t.

Robots Sizzle, Tax Reform Fizzles And Facebook Raises Eyebrows With Its Timing

PYMNTS

Spring has finally arrived across the United States, and love is in the air. Tax Reform : Trumpeting Trump-isms aside, tax reform may turn out to be a fizzle, after all, as corporations may hold on to cash rather than spend it to hire or invest in the economy at large. Fizzle of the Week: Timing. Even on Facebook.

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Will The IRS Take A Bite Out Of Crypto’s Wild Ride?

PYMNTS

April is months away, but tax season is likely top of mind for crypto holders. To that end, in the United States, the Internal Revenue Service (IRS) has said that huddling with other tax authorities across the globe has helped train a spotlight on how to detect and thwart tax evasion efforts.

Taxes 169

US Could Apply Tariffs On French Products

PYMNTS

President Donald Trump and French President Emmanuel Macron, however, had initially come to a deal on France’s tax on tech companies, according to reports. The United States Trade Representative had published a report after an investigation into the French tax. The U.S.

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The $300B Employee Financial Stress Tax On Employers

PYMNTS

That’s a pretty healthy investment that the businesses of the United States are expensing instead of investing a very small amount of that in dealing with these financially stressed employees.”. What happens is our systems are integrated with thousands of employers’ payroll systems across the United States. Four hundred dollars. That’s the dollar amount that is out of reach for a significant number of employees in a world where financial stress is commonplace.

Taxes 122

Trump Unveils Measures To Combat Economic Impact of Virus

PYMNTS

President Donald Trump unveiled a number of executive actions designed to blunt at least some of the economic impact of the coronavirus, which continues to spread across the United States. The restrictions will not apply to the United Kingdom.

Let’s Put a Stop to Credit Union End Run Around Congress

Finer Points

The United States has three branches of government to prevent any one from having too much power. The tax-exempt credit union industry apparently skipped this civics lesson because it obviously doesn’t believe it should have to listen to Congress. The National Credit Union Administration has proposed dramatically revising business-lending rules for these tax-subsidized institutions. Advocacy Community Banks Credit Unions Grassroots Taxes Washington