E-tax 2015 – Home / Lifestyle / Health & Wellness / E-Cigarettes Prices Soar After 2015 Tobacco Tax Hike: Facts
SEOUL, Oct. 10 (Korea Bizwire) – Imports of e-cigarettes more than doubled after the government raised taxes on traditional tobacco in 2015 to curb smoking, reports showed. The government’s statement on Tuesday.
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The government raised the tax on cigarettes by 2,000 won (US$1.70) per pack from January 1, 2015, raising the price to 4,500 won per pack, and forcing tobacco companies posting pictures showing the harmful effects of smoking. top class of cigarette cases in 2016.
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Imported e-cigarette alcohol reached 243 tons, worth 16 billion (US$13.9 million) between January 2015 and August this year, according to figures from the Korea Customs Service (KCS ).
The price of e-liquid containing nicotine increased significantly to 61 tons in the first eight months of this year from 12 tons in 2015 and 22 tons in 2016.
Meanwhile, imports rose to 269 tonnes, or 25.6 billion, between January 2015 and August this year, up 55.5 percent from 173 tonnes between 2012 and 2014 – an increase in value of 79 percent from 14.3 billion.
Rep. Liberty Korea Party leader Kim Gwang-lim introduced a bill in June to raise taxes on smokeless cigarettes (HNB), arguing that smokeless tobacco can emit harmful substances.
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Kim said HNB cigarettes should be classified as regular cigarettes as they work in the same way as tobacco and emit vapor, similar to the harmful smoke that traditional cigarettes emit.
An additional 1,350 won (US$1.19) including the national health promotion fee, as well as local and special taxes will be imposed on each pack of HNB cigarettes when the bill is passed by Community Forum, increasing the price of iQOS Heets more. 6,000 received to 4, 300 now per pack. Each iQOS payment case costs 120,000 failed.
IQOS Heets, manufactured by Phillip Morris Korea, are the only HNB cigarettes sold in the country.
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Taxes play a very important role in the lives of citizens. Fortunately, as tax services continue to go digital, this process has become much easier.
But as digitization takes place, how can governments ensure that tax systems are ready for the volume of transactions and data? Sheldon Wang, President of Huawei Global Customs and Tax Industries, shares his thoughts.
Technology has changed taxation, especially this pandemic, Wang said. AI and big data are starting to change the way people file taxes.
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Singapore’s tax authority, the Inland Revenue Authority of Singapore, has used RPA to quickly process tax payments for citizens during the Covid-19 pandemic. The group has also developed chatbots to facilitate tax payments for taxi drivers and private hire drivers, said its Director (House Experience Services), Candidate Services Division, .
The Australian Taxation Office is also using AI and automation to streamline the work of officials and improve productivity, said Marek Rucinski, Assistant Commissioner for Smart Data.
But as more tax services go digital, and more information is collected, more challenges will be faced by organizations, according to Wang.
More than 80 percent of tax payment services have switched to online tax filing channels, which puts a lot of pressure on the tax system resulting in slow response to tax filing and negative experiences, he said. .
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In one European country, about 40,000 tax exemption applications are processed every day. This number rises to 400,000 at peak times – putting a huge strain on the tax service’s operations. Problems can cause serious problems.
Tax agencies also collect information from many sources these days, from social media and other organizations. This amount of data can take hours to analyze, Wang said. If there is a problem, the process must be started again – it is difficult to ensure that the reports are made in time for review by the tax authorities.
Huawei works with tax authorities to help them stay ahead of the pace of the tax industry. Its Oceanstor Dorado all-flash storage, the industry leader in performance and reliability, stores and transfers data faster than traditional disk-based storage solutions. It also ensures that tax services will not be disrupted and will be online 24/7, Wang said.
This was particularly effective in one South American country, which saw the number of e-mail invoices increase 20 times from 2015 to 2018. Huawei worked with the country eliminating delays in collecting invoices and data processing fees, and allowing authorities to monitor transactions. immediately.
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Currently, Huawei storage products have more than 15,000 customers from various industries, Wang said. Huawei’s clients include the government’s tax and finance department, as well as 47 of the world’s top 100 banks.
Going digital is not a silver bullet that always promises great services. Tax authorities need the right tools to prepare their systems for the wave of e-transactions.2 Published by the Inland Revenue Authority of Singapore Published on 18 Aug 2015 Disclaimer IRAS is not responsible or liable. regardless of any damage, loss or expense. regardless of any situation, arising directly from the inaccuracy or incompleteness of the Content of this e-tax Guide, errors or omissions in the transmission of Information. IRAS is not responsible or liable for any decisions made by you or any third party based on the Content of this e-tax Guide. This information is intended to provide a general understanding of the tax responsibilities of taxpayers and is not intended to solve all tax problems that may arise. Although every effort has been made to ensure that this information complies with current laws and regulations, if there are changes, IRAS reserves the right to change our conditions. The Singapore Revenue Authority has the right. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying or recording, without the permission of the copyright owner, which should be submitted to the publisher. Such written permission must also be obtained before any part of this publication is stored in a retrieval system in any form.
3 Table of Contents Page 1 AIM immediately SECONDARY BOOK EC BUSINESS EQUIPMENT AND THEIR REASONS TAX AVAILABILITY EC BENEFITS RELATED BENEFITS INFORMATION AND USAGE… 10
4 Business Tax Guidelines 1 AIM 1.1 This Guideline 1 provides guidance on how business income from Electronic Commerce ( EC ) is deemed to originate in Singapore and therefore taxable in Singapore. 1.2 This guideline applies to businesses with EC transactions. 2 APPLICATION 2.1 Generally, business income arises in Singapore if the business activities that generate the income are carried out in Singapore. This income from Singapore is taxable in Singapore. 2.2 In the case of EC, if the business activities supporting EC transactions are carried out in Singapore, the income received is deemed to be received in Singapore and is taxable here. However, if the business activities are carried out outside Singapore, the income will be treated as foreign income and will therefore be subject to tax when repatriated to Singapore. When does the EC come out of Singapore, so it is taxed here, Other types of EC business and transactions are explored in this guide. 1 This guidance replaces the e-Tax Guidance on Income Tax Guidance on e-commerce published on 23 February Updates and amendments are discussed on page 9 on page 1 June 2003 , foreign currency can be accepted in Singapore by citizens. is exempt from tax under Section 13(8) of the Income Tax Act. Please refer to the e-tax Guide for Tax Exemption of Mutual Funds (Second Edition) published on 31 May.
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5 3 GENERAL 3.1 Digital assets Digital assets are products that are transmitted in the form of text, images or sounds. Examples of digital assets include online or downloadable music, music videos, movies, books, games, ringtones and logos. 3.2 Server A device capable of receiving or managing EC applications so that the EC can function. A server usually includes hardware and software that runs it and native application software. 3.3 The Website is often used to include
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