Retailers and the hospitality sector have praised Kwasi Kwarteng’s decision, set out in the mini-Budget on Friday, to reintroduce VAT refunds for overseas tourists visiting the UK. Tourists’ ability to reclaim sales tax on purchases made in the UK was abolished at the start of 2021, the point at which it would otherwise have been … Read more
Liz Truss was facing a backlash on Monday for what critics called “regressive” proposals by her allies for a big cut in VAT intended to tackle inflation and ease the cost of living crisis. The foreign secretary, who is the favourite to be the UK’s next prime minister, has insisted she is focused on cutting … Read more
Breadcrumb Trail Links PMN Business Liz Truss faced fresh criticism from UK premiership rival Rishi Sunak over her plans to tackle the cost-of-living crisis, amid reports she is mulling a move to slash the VAT sales tax by as much as 5 percentage points. Author of the article: Bloomberg News Emily Ashton Publishing date: Aug … Read more
Breadcrumb Trail Links PMN Business Liz Truss is considering cutting Britain’s VAT sales tax by as much as 5 percentage points across the board, the Telegraph reported, a move that may head off criticism she lacks a plan to tackle the country’s cost of living crisis. Author of the article: Bloomberg News Susanne Barton Liz … Read more
Breadcrumb Trail Links PMN Business Author of the article: Article content LONDON — British leadership frontrunner Liz Truss is considering cutting value added taxes (VAT) across the board by 5% if she becomes prime minister, to tackle the cost-of-living crisis, the Telegraph reported on Saturday. Truss’s leadership campaign is considering the plan as a “nuclear” … Read more
French senators approved controversial government legislation abolishing the country’s 89-year-old TV license fee in the early hours of Tuesday morning after a two-hour late-night debate. The 348-member upper house, in which centre-right affiliated members hold the majority, voted in favor of the legislation 196 votes to 147. The fee, currently set at 138 euros ($141) … Read more
Former chancellor Rishi Sunak unveiled plans to temporarily scrap value added tax on household energy bills, if elected prime minister, as he sought to halt the momentum behind foreign secretary Liz Truss in her Tory leadership bid. Sunak’s move followed a new opinion poll which showed Conservative activists believed Truss outperformed her rival in a … Read more