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Windfall tax Europe 2023 windfall profits taxes in EU windfall tax What European Countries Are Doing about Windfall Profit Taxes and Windfall Tax policies in Europe Bloomberg Tax

What European Countries Are Doing about Windfall Profit Taxes

It’s unlikely these implemented and proposed windfall taxes will achieve their goals of addressing high gas and energy prices and raising additional revenues. They would more likely raise prices, penalize domestic production, and punitively target certain industries without a sound tax base.

9 min read
UK capital allowances UK cost recovery and UK super deduction tax policy

After the UK Super-Deduction: Assessing Proposals for the Reform of Capital Allowances

For many years, the UK has adopted a strikingly ungenerous approach to capital cost recovery – the ability of firms to write off investment against tax. This has coincided with consistently low levels of business investment. The super-deduction, which has temporarily made the UK tax system much more supportive of capital investment in plant and machinery is set to expire.

34 min read
Income tax inflation adjustments europe including income tax inflation europe and automatically adjust income tax brackets for inflation europe

Inflation and Europe’s Personal Income Taxes

With continued concerns over inflation, individuals may be wondering how their tax bills will be impacted. Less than half of OECD countries in Europe automatically adjust income tax brackets for inflation every year.

2 min read
patent box regimes in Europe 2022 patent box Europe EU intellectual property tax regime IP

Patent Box Regimes in Europe

Patent box regimes (also referred to as intellectual property, or IP, regimes) provide lower effective tax rates on income derived from IP. Most commonly, eligible types of IP are patents and software copyrights. Currently, 13 of the 27 EU member states have a patent box regime.

3 min read
Inflation Reduction Act minimum tax or Inflation Reduction Act corporate minimum tax Biden OECD tax proposals hurt FDI Ways and Means proposal profit shifting, federal corporate income tax liabilities under Ways and Means profit shifting proposal

How Does the Inflation Reduction Act Minimum Tax Compare to Global Minimum Tax?

Over the course of the last year, it has become clear that Democratic lawmakers want to change U.S. tax rules for large companies. However, as proposals have been debated in recent months, there are have been clear divides between U.S. proposals and the global minimum tax rules.

6 min read
Highest beer taxes in Europe on International Beer Day 2022 tax on beer in Ireland and tax on beer in germany. Compare lowest and highest beer tax in Europe

Beer Taxes in Europe

’Tis the season to crack open a cold one. Ahead of International Beer Day on August 5th, let’s take a minute to discover how much of your cash is actually going toward the cost of a brew with this week’s tax map, which explores excise duties on beer.

3 min read
Ways & means tax proposal seeks to combat extraterritorial taxes and discriminatory taxes Global minimum tax revenue OECD Pillar Two revenue OECD impact assessment OECD Pillar One tax Pillar one amount a Biden interest limitation Biden interest deduction rule Biden interest expense limitation Business interest expense limitation Democrat Senate international tax overhaul discussion draft legislation (Wyden Brown Warner international tax overhaul) or Sen Wyden international tax plan,

Three Questions on Pillar One

While the global minimum tax gets much attention in the media, there is another significant piece to the deal.

6 min read
2022 gas taxes in Europe Compare fuel tax rates and EU gas tax Europe map EU fuel excise duty

Gas Taxes in Europe

The Netherlands has the highest gas tax in the European Union, at €0.82 per liter ($3.69 per gallon). Italy applies the second highest rate at €0.73 per liter ($3.26 per gallon), followed by Finland at €0.72 per liter ($3.24 per gallon).

4 min read
EU windfall profits tax EU energy security EU fossil fuel EU presidency European Union presidency including Czech presidency Europe council EU VAT Rates: EU VAT Directive & EU Reduced VAT Rates

Tax Files Under New Council of EU Presidency: Czechia

As the Czech EU presidency considers a plan to manage various tax-related files, it would be wise to consider principled tax policy that broadens the tax base and reduces the tax wedge on strategic investment.

4 min read