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Come 2021, travelers will no longer be reimbursed for most of the 20 percent VAT they paid on a Rolex or many other souvenirs.
The British government has said it is ending the sales tax refund that has been offered to tourists.Credit...Dan Kitwood/Getty Images ... Published Nov. 19, 2020Updated Dec. 24, 2020 · In recent months social media has been filled with the longings of formerly frequent travelers, people ready to pack their bags when coronavirus restrictions fade away. But as of Jan. 1, many of those travelers going to Britain will find that buying a new watch — or most souvenirs, actually — is going to cost them more than ever before.“It’s not just London,” said Charlie Pragnell, managing director and chairman of Pragnell, a luxury watch and jewelry retailer with headquarters in Stratford-upon-Avon and stores in Leicester and London. “It’s the important historical towns around the U.K., like Stratford-upon-Avon, Bath, Windsor and Edinburgh.” · Even after the new rules go into effect, foreign shoppers can still reclaim VAT for what is commonly referred to as “shop and ship,” a government policy that allows British retailers to offer tax refunds on goods that are sent to the purchasers’ homes.The VAT Retail Export Scheme, which refunds a large portion of the 20 percent sales tax, or value-added tax, on purchases taken out of Britain, is scheduled to end as 2021 begins.“I don’t think anybody expected the announcement that they were abolishing tax-free shopping,” said Helen Brocklebank, chief executive of Walpole, a nonprofit membership organization that works with British luxury businesses.
Tax Watch was the Tax Foundation’s quarterly tax policy newsletter from 2004 to 2013. It presented our economic research and analysis in a simple, non-technical format-ideal for the non-economist looking for a clear explanation of current tax issues. See an archive of past issues, below.
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The appropriations plan released by House Republicans this weekend threatens to withhold funding for an obscure but vital financial oversight board because that board now requires corporations to disclose basic information about their income tax payments (or lack thereof).Compared to its House counterpart, the Senate bill makes certain tax provisions more generous, including corporate tax breaks that it makes permanent rather than temporary. But the bottom line for both is the same.Seven huge corporations recently announced that in 2024 they were allowed to collectively keep $1.4 billion in tax breaks from previous years that they had publicly admitted would likely be found illegal if investigated – all because the tax authorities were unable to identify and disallow them before the statute of limitations ran out.Both bills give more tax cuts to the richest 1 percent than to the entire bottom 60 percent of Americans, and both bills particularly favor high-income people living in more conservative states.
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Say, for example, you’re going to purchase the brand’s $4,210 C1 Bel Canto. As soon as you plug in a US address, the cost breakdown updates to include a staggeringly high $1,892.72 “Customs duty.” This brings the cost of a $4,500 watch after taxes all the way up to $6,429.
Beloved watchmaker Christopher Ward now includes a line item at checkout for the new 39% tax on goods from Switzerland.British watchmaker Christopher Ward is a darling of the boutique watchmaking scene. Its colorful tool watches, integrated-bracelet sport watches, and strikingly affordable C1 Bel Canto—if you get that joke, you’re very cool—continue to capture collectors’ mindshare.But while many brands, like Rolex, Omega, and Cartier, have quietly raised prices somewhere in the neighborhood of 3% to 10%, Christopher Ward’s strategy is much more pointed. The brand, which is based in Britain but manufactures its watches in Switzerland, has taken the additional step to show exactly how much the tariffs are affecting the cost of its wares.Of course, it’s tough to blame the British brand for these hikes: Absorbing such a hefty duty isn’t an option for a small(ish) firm like Christopher Ward. The 39% tariff placed on Swiss imports is causing pain even for multinational corporations. For those Americans who wish to purchase CW’s watches online, they may be better served waiting until they travel to England to fork over their hard-earned dollars.
Lawmakers return to Washington this week after over a month-long recess, and funding the government is expected to be first on their agenda. However, there's still much to watch for in the tax space – from filling vacant IRS positions to a year-end tax package.
Lawmakers return to Washington this week after over a month-long recess, and funding the government is expected to be first on their agenda. However, there’s still much to watch for in the tax space – from filling vacant IRS positions to a year-end tax package.One other tax-relevant area to watch is Senate confirmations of Trump’s leadership picks.Under current law, “there will be a cohort of taxpayers who are currently benefiting from the enhanced premium tax credits will no longer have them next year, and their health insurance premiums will go up,” Kumar explained.That’s needed, he explained, to address the provision’s interaction with other parts of the Tax Code, subjecting taxpayers to the corporate alternative minimum tax or the base erosion and anti-abuse tax (BEAT).
March 11, 2025 | What We Know and What We Are Watching in Federal and State Tax Controversy
Stay current on tax and trade developments with KPMG TaxWatch, KPMG TradeWatch, and other industry-related live and on-demand webcasts.During this webcast, professionals from the KPMG Washington National Tax office will discuss the recently enacted One Big Beautiful Bill which contains a number of significant tax provisions which are expected to materially impact certain individuals, trusts, and estates.During this webcast, professionals from the KPMG Washington National Tax office will dive into and discuss the One Big Beautiful Bill’s changes to the U.S. international tax regime, as well as the G7 understanding excluding U.S.During this webcast, professionals from the KPMG Washington National Tax office will discuss the implications of the G7 Statement from a 2024/2025 Pillar Two compliance and financial reporting perspective.
TaxWatch's progressive core tax training program offers in-depth training and CPE credit for tax professionals at every stage of their career.
Take your firm to the next level with multiple levels of core tax training. TaxWatch University begins with an entry-level course focused on common topics, followed by courses that provide greater depth on corporate tax issues, partnerships, LLCs, and other special entities.This practical, hands-on program is designed for first- or second-year tax professionals. This course provides learning opportunities surrounding common individual and corporate tax topics that they may encounter.This practical, hands-on program is designed for tax professionals in their first or second year. This course provides learning opportunities on intermediate corporate, individual, and other entity type tax topics.This practical, hands-on program is designed for tax professionals with multiple years' experience. This course provides learning opportunities on intermediate to advanced pass-through entities, including S corporations and partnerships/LLCs, and selected individual and corporate topics.
A group of Senate Republicans, including Utah Sen. John Curtis, negotiated slower phaseouts for clean energy tax incentives, but a new Trump executive order puts that provision in question.
WASHINGTON — A group of Senate Republicans are cautiously watching to see if a recent executive order will undo progress to temporarily preserve green energy tax credits in President Donald Trump’s massive tax package.Trump signed an executive order on Monday directing the federal government to be aggressive in its task to roll back clean energy subsidies, instructing the Treasury to take action it “deems necessary and appropriate” to enforce the termination of the tax incentives.The megabill passed by Congress last week includes language to largely dismantle federal tax incentives for electric cars, wind and solar power usage, and other green energy technologies previously passed by the Biden administration.However, Curtis and other Senate Republicans managed to include language that would delay expiration of those tax credits, arguing they offer critical support for businesses across the country who will need time to adjust.
Auto Stocks To Watch: Auto stocks jumped sharply on Thursday morning after the GST Council announced a major overhaul of the Goods and Services Tax (GST) system.
Commercial vehicles are also set to get cheaper, with GST cut from 28 per cent to 18 per cent. This is a strong boost for Ashok Leyland, Tata Motors, and Eicher Motors. Hydrogen-based commercial vehicles will enjoy an even lower 5 per cent tax, which could drive investment in green transport.The GST Council has simplified the tax structure by reducing the slabs to just two, 5 per cent and 18 per cent, effective from September 22, the start of the Navratri festival.Under the new rules, petrol, LPG, and CNG cars with engines less than 1,200cc and a length under 4,000mm will be taxed at 18 per cent instead of 28 per cent.On the other hand, larger cars, SUVs, luxury vehicles, and motorcycles above 350cc will be charged a higher 40 per cent tax.
Our free Tax Rate Lookup Tool will provide State & Local sales tax rates, parish name, return column, vendor compensation rate, local interest rate, and local delinquency rate for any location in Louisiana by Geocode.
Sales Tax Portal page.To learn more about our Tax Rate Lookup Tool and review other taxpayer services, please Click Here to visit the
Home » Home » WATCH: Gov. Ron DeSantis Announces First-Ever Second Amendment Sales Tax Holiday
[ September 8, 2025 ] WATCH: Gov. Ron DeSantis Announces First-Ever Second Amendment Sales Tax Holiday Brevard NewsTALLAHASSEE, FLORIDA – Governor Ron DeSantis announced a brand-new Florida Second Amendment Sales Tax Holiday, which will run from Monday, September 8, through Wednesday, December 31, 2025.Earlier this year, Governor DeSantis signed the Fiscal Year 2025–26 budget, which included $2 billion in tax relief, including the permanent repeal of the Business Rent Tax and several targeted sales tax holidays.Governor DeSantis also announced that, in addition to several of our state’s shooting sports ranges being free year-round, we are also announcing that during this sales tax holiday, we will further commemorate our constitutional rights as we approach the 250th Anniversary of our Nation’s founding by providing half-priced range passes for various public ranges across the state.
Florida TaxWatch is an independent, nonpartisan, nonprofit taxpayer research institute and government watchdog. Serving Florida’s taxpayers for over four decades, we provide crucial insights and analysis on state spending, taxes, and policy outcomes. Our mission is to improve the productivity ...
Florida TaxWatch is an independent, nonpartisan, nonprofit taxpayer research institute and government watchdog. Serving Florida’s taxpayers for over four decades, we provide crucial insights and analysis on state spending, taxes, and policy outcomes. Our mission is to improve the productivity and accountability of Florida's government.
Florida TaxWatch is Florida’s premier government watchdog, producing nonpartisan research to promote taxpayer accountability, budget transparency, and sound fiscal policy.
This year brings key tax changes that could affect your retirement taxes and income.
The no capital gains tax on home sales bill would need to pass Congress, overcoming debates about its impact on the federal budget and the fairness of its tax policy. However, if you currently own your home and plan to sell in the coming years, it’s a development worth watching.The latest Feature,/features,,features, breaking news, comment, reviews and features from the experts at KiplingerYou may have heard that on July 4, 2025, President Trump signed massive reconciliation legislation into law. The new bill primarily extends many provisions from the original 2017 Trump tax cuts, known as the Tax Cuts and Jobs Act (TCJA).If you’re 65 or older, 2025 is shaping up to bring several important tax changes that could impact your finances.
Explore New GST rate on wristwatches, smartwatches, and luxury timepieces. See how it affects pricing in both offline and online stores.
The demand for smartwatches has surged in recent years, especially due to fitness tracking and app syncing features. But are smartwatches taxed the same as regular ones? Yes. GST on smart watches in India is also 18%, and they are categorized under HSN Code 8517, which is the same category used for mobile phones and similar devices.The GST rate does not change based on branding. Whether you’re purchasing a Titan, Fossil, Casio, or a local brand, branded watch gst rate is still 18%. There is no separate tax treatment for non-branded watches either.However, customs duty may vary for imported branded watches, which can make them more expensive. Get a Free Demo – Best Billing and Invoicing Software · You must charge 18% GST on every sale. You can claim Input Tax Credit (ITC) on GST paid while buying stock.Whether you’re purchasing a smartwatch, gifting a Titan, or starting a watch store—this knowledge helps you stay GST-compliant and cost-conscious. ... I am a Fellow Chartered Accountant (FCA) and LLB graduate with 10 years of experience in corporate auditing, taxation, and financial consulting.
That situation is detailed in public tax filings for Rockstar North, Ltd. and highlighted in a searing report released this weekend by a group called Tax Watch, which describes itself as an “investigative think tank” and has previously gone after Google and Starbucks for supposed tax avoidance.
The Tax Watch group calls the situation “absurd,” saying the program was intended to help smaller game makers and not spare one of the most successful game companies in history from paying corporate tax.Rockstar North has used tax programs and other crafty accounting to avoid paying corporate taxes in the UK for years, even while its most successful game Grand Theft Auto V has sold millions of copies and made billions of dollars.In 2018, Rockstar North reported profits of £8,300,782, or just over $10 million. All the while, it paid nothing in UK corporate taxes, thanks in large part to claiming more than £19 million (or $23 million) in tax credit through the UK’s Video Game Tax Relief program, which Rockstar managed to qualify for in 2016.Rockstar North presumably has paid taxes on employee income and Value Added Tax, Taxwatch director Turner told Kotaku, but he noted that those tax bills are not publicly available.
Apart from checks through discouraging cash transactions and asking for PAN, your money moves also need to be watched and reported to the tax department by certain persons/institutions you engage with.
Budget 2019 has also brought more persons under the tax filing net to keep a close watch on their financial dealings.Taxpayers must pay attention to all what’s on the government’s radar and keep their dealings cleanBe it TDS (tax deduction at source) on cash transactions above a certain limit or the bringing under the TDS netpayments to contractors or professionals, the interchangeability of PAN (permanent account nmber) and Aadhaar or the addition to list of persons expected to file tax returns, the first Budget of the new government has continued to take steps to widen the tax base.Well, it may be so this time, but there are checks on cash transactions at various thresholds from as little as ₹2,000. So, if you are fond of charity and want to reduce your tax outgo this way by claiming deduction under Sec 80G, donations over ₹2,000 in cash don’t qualify for deduction.
TaxWatch is an investigative think tank shining a light on the world of tax and tax avoidance.
TaxWatch set out to see how these registers are working on the ground. One of the five registers, which ministers told Parliament was “fully public” and had been launched on 30 June, does not yet exist, and there are no plans to make it directly publicly searchable.Stronger powers against ‘enablers’ – those who design and enable aggressive tax avoidance and evasion – are back on the table once again. But new figures show that existing powers are still not being used.In a week when Britain’s Overseas Territories have ignored yet another deadline for functioning ‘beneficial ownership’ registers, new figures on UK tax enforcement stemming from the Pandora Papers show that leaks can’t supplant properly available information about who really owns offshore companies.Quietly buried in HMRC spreadsheets released today is the news that the UK Tax Gap is consistently much bigger than HMRC previously said. New evidence suggests that the government may be under-estimating by several billion pounds the amount of income hidden offshore, and non-compliance amongst the largest and wealthiest taxpayers.