taxes – Muhasebe News

Austria to increase digital taxes

MuhasebeNews — Thu, 04 Apr 2019 15:14:03 +0000

Following the General Meeting on Wednesday, Austria has increased the digital tax that will be implemented on large tech companies by 5% from 3%.

The news came from Austria’s Finance Minister Hartwig Loeger.

Loeger also stated that the new regulation would take place as of 2020 for tech companies making 750 million euros in total with at least €25 million from Austria.

The increase in digital tax is aimed at providing equity in taxation.

The digital platforms will also face compulsory VAT.

Australian Government estimates to make 200 million euros with the new regulation.

Source: Reuters
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

If taxpayers in Turkey sell their real property entered as assets, would they have to pay taxes

MuhasebeNews — Tue, 05 Mar 2019 13:35:45 +0000

A taxpayer keeps accounting records on the basis of balance. If the taxpayer sells their real property that is entered as an asset, would it be possible for them to benefit from 50% exemption from income tax and VAT exemption?

Only corporate taxpayers are able to benefit from the Real Property Income Tax Exemption that is mentioned in the Value Added Tax Law and Corporate Tax Law. Income taxpayers can not benefit from this exemption.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Digital taxes are coming to France

MuhasebeNews — Tue, 18 Dec 2018 06:00:17 +0000

France is preparing to levy taxes on Alphabet, Apple, Facebook and Amazon.

French Minister of Economy Bruno Le Maire said during a press conference on Monday that the GAFA (Google, Apple, Facebook, Amazon) Tav will go in effect on January 1st.

Indeed, European Comission proposed in March to impose taxes of 3% on tech firms that has a global net worth of €750.

But the proces stalled due to some disagreements among some member states such as Ireland and The Netherlands.

UK, and now France, are preparing to place its own taxes on tech firms.

British Chancellor Phillip Hammond stated in October that they are planning on placing a ‘digital services tax’ on big tech firms that do business in The UK.