Tax

[New] By 2025, companies in VAT economies are expected to exchange more than 75 percent of all invoices electronically with tax administrations in real time or very shortly after the invoice-exchange process.
[New] American spending on health care is expected to rise from about $4 trillion a year to $6 trillion, or 19.4 percent of GDP, by 2027.
[New] An introduction of a carbon tax of 39 $ / ton CO2 by 2040 as policy measure could help the Indian power system to adhere 2 °C goal.
[New] The UK Government should create a single, economy-wide carbon tax that will establish a trajectory for the total carbon price towards net zero by 2050.
UK employees in the private sector are expected to see a real salary increase of 0.8% in 2019 - equivalent to £20 extra month or £237.35 per year before tax.
By 2025, 18 US states will be taxing owners of electric cars, trucks and SUVs more than the average owner of a new gas-powered car will be paying in gas taxes.
231 US mayors ask Congress for solar tax credit extension: If the tax credit extension is passed, it could create 113,000 jobs and $87 billion in economic investment by 2030.
Extending existing tax credits could increase wind by 97 GW and solar by 31 GW in 2030, and bring their share of U.S. generation to 31%.
Germany could expect an additional tax take of around 740 million euros ($813.70 million) once the new taxes come into force in April.
Beverage manufacturers are taxed according to the volume of sugar-sweetened beverages they produce or import, which will generate an estimated £520 million a year in additional tax revenue to be spent on doubling existing funding for sport in UK primary schools.
Ghana is expected to accrue US$100 million in revenues in the first year and US$250 million in the next five years for the implementation of Communication Service Tax.
With the recently announced corporate tax cuts and lower nominal GDP growth, Moody's now expects an Indian central government deficit of 3.7 per cent of GDP in fiscal 2019, marking a 0.4 percentage point slippage from its target.
Italy is readying a new tax on digital companies in its 2020 budget, as it seeks alternative revenues that will allow it to scrap a scheduled increase in sales tax.
S&P 500 companies are expected to post their first drop in quarterly earnings in nearly three years, and some investors are waiting to see what happens to corporate profits as the effect of tax cuts passed in 2017 fades.
A recent study by the Congressional Budget Office (CBO) showed that setting a carbon tax at $25 per metric ton on most emissions of greenhouse gases in the United States, while adjusting it annually by 2 percent after accounting for inflation, as much as $1.1 trillion could be generated in 10 years.
The UK government asserts that the digital services tax will raise £400m per year by 2021.
Global fossil fuel taxes, mostly in OECD countries and on oil products, yield around $800 billion in revenues annually: Renewable-energy subsidies were $66 billion in 2010 and will reach $250 billion by 2035.
Coal has been driven out of the electricity system due to rising taxes on carbon emissions, and will be banned by the government from 2025 to help the UK meet its climate targets.
The US can make progress in reducing emissions by extending tax credits: Extending and expanding tax credits through 2025 for zero-emitting generation including wind, solar or nuclear could achieve reductions of up to 125 million tons compared to current policy in 2025.
Some countries have made progress over the past two decades, and if all countries were to reduce corruption in a similar way, they could gain $1 trillion in lost tax revenues, or 1.25 percent of global GDP.
Expect the market to rebound in 2020, as residents' desire to purchase will gradually recover and some of China's measures including tax cuts have increased people's disposable incomes.
The threat of digital taxes and tougher scrutiny of technology tie-ups has caused tech deals to dry up in the UK this year.

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Last updated: 10 November 2019