Significant change is anticipated in the Japanese Consumption Tax. This is the conclusion of the Japanese Tax Commission in its mid-term report, presented to Prime Minister Junichiro Koizumi on June 1...

The most sustained U.S. tax policy debate of the past 30 years concerns proposals to replace and/ or supplement the Federal Income Tax with a consumption tax.[2] Public finance economists and legal ta...

On December 11, 2008 California Governor Arnold Schwarzenegger and legislative leaders announced appointments to the Commission on the 21stCentury Economy. The mandate is to propose ways to modernize ...

The future of the VAT is digital.[1]In the foresee- able future, all VAT processes will be auto- mated. VAT determinations, collection, the remission of funds, as well as all reporting, audit, and ref...

INTRODUCTION Since the e-commerce revolution began in the 1990’s, tax policy discussions in developed economies have enlisted “e-solutions” to streamline consumption tax administration, as well as ...

In March 2004 the European Commission solicited comments on a proposal to simplify value added tax (VAT) obligations through a one-stop scheme.[1] The proposal was modest in scope. It was designed to ...

Tradable services – VoIP termination services, mobile minutes, software as a service (SaaS), or almost any service bought or sold in the “cloud”[1] – are a distinct class of taxable supplies. These se...

INTRODUCTION Marketplace technology is (inadvertently) chipping away at the effectiveness of consumption taxes – the Japanese Consumption Tax (CT), the European value added tax (VAT), and the Ameri...

On January 1, 2009 a minor change in the Czech Republic VAT[1] became effective. A use and enjoyment standard was added to modify the sourcing of certain service transactions.[2] Traditional proxy-bas...

Auditor independence was a global concern of financial regulators in the 1990’s. Some observers saw this in a positive light, a natural development. Adjusting auditor independence rules was a manifes...