Bloomberg UK Chancellor of the Exchequer Rishi Sunak is mulling an emergency cut to the country’s Value-Added Tax (VAT), The Sunday Times reported. Sunak has asked officials to prepare various options to lower the sales tax, including reducing the headline rate and zero rating more products for a fixed term, the report said. He could make the announcement in a ...

Bloomberg There will be a European tax on giant digital corporations, even if a current project harbored by the OECD fails, European Internal Market Commissioner Thierry Breton said, in an interview with France Inter radio. “We’d rather do this within a global framework, as part of an OECD discussion, over the year 2020,” Breton said. He added that the US, ...

Bloomberg Daimler AG’s Chief Executive Officer Ola Kaellenius plans a new cost savings program and looks to cut an additional 10,000 jobs through 2025, magazine Automobilwoche reported citing unidentified company sources. The carmaker aims to outsource information technology services and cut positions in research and development, according to the magazine. The company previously announced in November a plan to reduce ...