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Discover Latest #VAT News, Articles and Videos with Contenting
View RSS feed Top VAT News Headlines VAT (Value Added Tax) is a tax imposed on goods or services at different stages of production and distribution. It is imposed on the value added to the product or service at each stage, and is ultimately paid by the consumer. VAT is a form of indirect taxation, which is collected by the seller from the purchaser, and is then remitted to the government. VAT is levied on the sale of goods and services in most countries around the world, and is an important source of revenue for governments. In this section, we cover the latest news and developments related to VAT, including changes in legislation, new regulations, court cases, and more.
Swiss bank Safra Sarasin fined 3.5 million francs in 'Car Wash' probe
ZURICH (Reuters) -Switzerland's attorney general has fined Swiss private bank J. Safra Sarasin SA 3.5 million Swiss francs ($4.3 million) under a years-long corruption and money laundering case surrounding Brazilian state oil company Petrobras, it said on Friday. In a statement, the highest Swiss prosecutors' office said the bank had settled with Petrobras, a claimant in the case, for 16 million francs and that no further compensation payment was therefore due. Safra Sarasin said the prosecutors' "ordinance does not constitute an admission of guilt or an acceptance of civil or criminal liability on the part of the bank or any of its representatives".
Ulta Beauty Sales Momentum Builds As K-Beauty Expansion And Fewer Discounts Drive Growth
Ulta Beauty Inc. (NASDAQ:ULTA) is gaining momentum ahead of its upcoming earnings report, with stronger sales trends, tighter promotions, and accelerating product innovation fueling expectations for robust growth and higher profitability in the quarters ahead. JP Morgan analyst Christopher Horvers reaffirmed an Overweight rating on Ulta Beauty Inc., raised his price forecast from $525 to $600, and kept the stock on JPM’s Analyst Focus List, citing stronger comps, higher EPS, and valuation upside
EU Sees Its Bond Market Developing Even Without Sovereign Status
The EU, already the fifth largest issuer in European markets with more than €657 billion ($770 billion) of bonds outstanding, was dealt a blow this week when Intercontinental Exchange Inc. decided not to add its notes to sovereign indexes. The EU is currently treated as a supranational entity by major index compilers, which officials cite as a key reason why its borrowing costs are higher than those of European governments with similar credit ratings. “The decision is not motivated by concerns linked to the volumes, structure or liquidity of the EU-Bond programme,” the European Commission said in a reply to a Bloomberg request for comment on the ICE decision.
Apple Explores Using Google Gemini AI to Power Revamped Siri
The iPhone maker recently approached Alphabet Inc.’s Google to explore building a custom AI model that would serve as the foundation of the new Siri next year, according to people familiar with he matter. Google has started training a model that could run on Apple’s servers, said the people, who asked not to be identified because the discussions are private. Earlier this year, Apple also explored partnerships with Anthropic PBC and OpenAI, weighing whether Claude or ChatGPT could serve as Siri’s new brain.