VATabout’s Post

Resort tax will be replaced by a tourist tax from 2025 From 2025, the resort tax will be replaced by a tourist tax. The relevant provisions are introduced in the Tax Code of the Russian Federation (Chapter 33.1 “Tourist Tax”) by Federal Law No. 176-FZ dated 12.07.2024.   The decision on the introduction of the tax and its amount will be made by municipalities and cities of federal significance. The tax rate in 2025 may be set in amounts not exceeding 1% of the price of accommodation per day excluding VAT, but the amount of tax may not be less than 100 rubles per day of accommodation. Within five years the rate will increase to 5%. Taxpayers will be organizations and individuals providing services for the provision of temporary accommodation for citizens in accommodation facilities (hotels, hotels, hostels, etc.) entered in the relevant register. Persons renting out apartments and other facilities that are not included in the register should not pay tax.   The tax will be calculated during the tax period in which the full settlement with the buyer of the service takes place. The tax will have to be paid at the end of the quarter as part of a single tax payment. The deadline is not later than the 28th day of the month following the expired quarter. The tax return will have to be submitted to the location of the accommodation facility no later than the 25th day of the month following the expired tax period.   Tourist tax is an indirect tax, it will be charged to the residents, except for privileged categories of individuals. When reimbursing employees for business travel expenses, tourist tax may be taken into account for profits tax purposes as part of business travel expenses (Letter from the Ministry of Finance of Russia dated 07.10.2024 N 03-03-06/1/96816).

Wyoming Hotels, Resorts, Hospitality ERC Tax Credit in WY (revised Jan. 2024) https://lnkd.in/gneWEpne Key ERC Credit Takeaways: - Up to $26,000 per Employee: Hotels can receive a substantial tax credit for eligible employees. - Hospitality Sector Benefits: The ERC is specifically available for hospitality businesses. - ERC Extends to Resorts: Resort owners can also take advantage of the ERC tax credit. - Partnerships Can Qualify: Principals and partners in hospitality may be eligible for ERC. - Professional Assistance Available: Experts can help hospitality businesses claim the ERC. Important 2024 and 2025 ERC Tax Credit Deadline: The 2020 ERC Credit Tax Year deadline of 4/15/24 has already passed. Good news? The opportunity to retroactively claim your business Employee Retention Credit for the prior 2021 Tax Year is still available, with a next year April 15, 2025 deadline. This really is your FINAL chance at any potential ERC tax credit refund! Not all businesses will qualify, as it depends on multiple factors per IRS Rules and Guidelines. You might be leaving significant financial relief on the table from past COVID harm to your business in 2021. In late 2023, the IRS had “temporarily” paused processing. You will still want to check eligibility and file now (if you qualify) because the IRS will resume processing tax credit claims in the order they are received. TAKE ACTION NOW IN 2024 DON’T WAIT! Since the IRS has over 1,000,000+ Quarterly 941-X tax forms in their processing queue, this has caused much longer delays in getting ERC Refund Checks for those that qualify. The IRS processes ERC Claims in the order they are received. If you haven’t previously filed for the ERC Credit, it is worth scheduling a phone call to explore your possible eligibility from the past 2021 business tax year. Again, not all businesses will qualify, but it’s worth a professional deep-dive evaluation. https://lnkd.in/dtr69VW9 #ERC #ERTC #EmployeeRetentionCredit #EmployeeRetentionTaxCredit #TaxCredit

SLTA Calls On Government To Admit That New ‘Visitor Levy’ Is A ‘Tax’ On Business The SLTA (Scottish Licensed Trade Association) has said that the Scottish Government should stop calling its forthcoming tourist tax a “visitor levy”, with Colin Wilkinson, the industry group’s managing director, stating: “It’s a tax and not something we support in any way.” The Visitor Levy (Scotland) Bill, backed by MSPs yesterday, gives councils a new power to introduce a visitor levy that would raise funding for local visitor facilities and services. While accepting that local authorities will now have the choice to introduce a tourist tax, the SLTA remains sceptical that councils will fully use the extra revenue for its intended purposes. “We have already picked up on some local councillors having the view that this could replace current budget spending,” noted Mr Wilkinson, “so the question remains: will this extra revenue for local councils be truly ringfenced for the purposes it was intend for? “We already have experience of councils withholding revenue from the liquor licensing regime which was supposed to be cost neutral. “While there are regulations that allow Scottish Government ministers to intervene when local authorities impose excessive visitor levy charges, and if charges are deemed ‘excessive’ or revenue raised has been misspent, this would be another process to go through for the business community, and no doubt there would also be a lengthy arbitration process to resolve matters.” He added: “Tom Arthur, the Employment and Investment Minister, points out that ‘21 European countries have some kind of visitor levy’. However, he conveniently fails to mention that our European neighbours do not charge 20% vat on accommodation. Now our visitors requiring accommodation, both foreign and domestic, will have a further tax added on to their accommodation bills and, to add insult to injury, VAT will also be added on to the visitor levy, so it’s a ‘tax on a tax’. “Let’s also not forget it is not just accommodation providers that benefit from tourism – many other sectors also benefit – but it is the hard-pressed accommodation sector that is being targeted with administering this tax. Our concerns are if this ‘visitor levy’ will have a negative impact on Scotland’s competitiveness in attracting tourists once they fully realise that they already pay 20% VAT, plus a tourist tax of perhaps 7%, and VAT on that.” Mr Wilkinson stressed the need for the new legislation to be flexible for businesses and to ensure that the licensed hospitality sector is involved in all future discussions with local councils intent on introducing a visitor levy. “We accepted this week’s decision but, in our view, its introduction is yet another burden on a hard-pressed sector still recovering from the pandemic and navigating current and ongoing costs of doing business.” Read More: https://lnkd.in/ddJay5ic

Michigan Hotels, Resorts, Hospitality ERC Tax Credit in MI (revised Jan. 2024) https://lnkd.in/gYiKXECR Key ERC Credit Takeaways: - ERC for Michigan Hospitality: Michigan hotels can apply for a specific Employee Retention Credit. - Criteria for Michigan Hotels: Understand the eligibility specifics for Michigan’s hospitality industry. - Claim Amounts for ERC: Learn how much Michigan hotels can claim under the ERC tax credit. - Time to Claim Your ERC: It’s not too late for Michigan companies to apply for their ERC refund. - Changes in ERC Application: The process for applying for the ERTC in Michigan has been updated. Important 2024 and 2025 ERC Tax Credit Deadline: The 2020 ERC Credit Tax Year deadline of 4/15/24 has already passed. Good news? The opportunity to retroactively claim your business Employee Retention Credit for the prior 2021 Tax Year is still available, with a next year April 15, 2025 deadline. This really is your FINAL chance at any potential ERC tax credit refund! Not all businesses will qualify, as it depends on multiple factors per IRS Rules and Guidelines. You might be leaving significant financial relief on the table from past COVID harm to your business in 2021. In late 2023, the IRS had “temporarily” paused processing. You will still want to check eligibility and file now (if you qualify) because the IRS will resume processing tax credit claims in the order they are received. TAKE ACTION NOW IN 2024 DON’T WAIT! Since the IRS has over 1,000,000+ Quarterly 941-X tax forms in their processing queue, this has caused much longer delays in getting ERC Refund Checks for those that qualify. The IRS processes ERC Claims in the order they are received. If you haven’t previously filed for the ERC Credit, it is worth scheduling a phone call to explore your possible eligibility from the past 2021 business tax year. Again, not all businesses will qualify, but it’s worth a professional deep-dive evaluation. https://lnkd.in/dtr69VW9 #ERC #ERTC #EmployeeRetentionCredit #EmployeeRetentionTaxCredit #TaxCredit

Oklahoma Hotels, Resorts, Hospitality ERC Tax Credit in OK (2024 updates) https://lnkd.in/gZBbHrZf Key ERC Credit Takeaways: - Financial impact of COVID qualifies OK hotels for ERC: Oklahoma hotels impacted by the pandemic may be eligible for Employee Retention Credit. - Wide eligibility for various businesses: Resorts, motels, and other hospitality businesses in OK qualify under specific conditions. - Claim up to $26,000 per employee: Eligible hotels can claim significant refunds per qualifying employee. Important 2024 and 2025 ERC Tax Credit Deadline: The 2020 ERC Credit Tax Year deadline of 4/15/24 has already passed. Good news? The opportunity to retroactively claim your business Employee Retention Credit for the prior 2021 Tax Year is still available, with a next year April 15, 2025 deadline. This really is your FINAL chance at any potential ERC tax credit refund! Not all businesses will qualify, as it depends on multiple factors per IRS Rules and Guidelines. You might be leaving significant financial relief on the table from past COVID harm to your business in 2021. In late 2023, the IRS had “temporarily” paused processing. You will still want to check eligibility and file now (if you qualify) because the IRS will resume processing tax credit claims in the order they are received. TAKE ACTION NOW IN 2024 DON’T WAIT! Since the IRS has over 1,000,000+ Quarterly 941-X tax forms in their processing queue, this has caused much longer delays in getting ERC Refund Checks for those that qualify. The IRS processes ERC Claims in the order they are received. If you haven’t previously filed for the ERC Credit, it is worth scheduling a phone call to explore your possible eligibility from the past 2021 business tax year. Again, not all businesses will qualify, but it’s worth a professional deep-dive evaluation. https://lnkd.in/dtr69VW9 #ERC #ERTC #EmployeeRetentionCredit #EmployeeRetentionTaxCredit #TaxCredit

Iowa Hotels, Resorts, Hospitality ERC Tax Credit in IA (revised Jan. 2024) https://lnkd.in/geMi5wfG Key ERC Credit Takeaways: - IA Hospitality Eligibility: Iowa hotels and resorts can claim the ERC tax credit. - Financial Impact Criterion: Hospitality businesses affected by COVID qualify. - Claiming Process Guidance: Learn how to claim the Employee Retention Credit. - Credit Maximization: Maximize your claim with proper eligibility understanding. - Broad Sector Eligibility: Applies to various IA hospitality and leisure sectors. Important 2024 and 2025 ERC Tax Credit Deadline: The 2020 ERC Credit Tax Year deadline of 4/15/24 has already passed. Good news? The opportunity to retroactively claim your business Employee Retention Credit for the prior 2021 Tax Year is still available, with a next year April 15, 2025 deadline. This really is your FINAL chance at any potential ERC tax credit refund! Not all businesses will qualify, as it depends on multiple factors per IRS Rules and Guidelines. You might be leaving significant financial relief on the table from past COVID harm to your business in 2021. In late 2023, the IRS had “temporarily” paused processing. You will still want to check eligibility and file now (if you qualify) because the IRS will resume processing tax credit claims in the order they are received. TAKE ACTION NOW IN 2024 DON’T WAIT! Since the IRS has over 1,000,000+ Quarterly 941-X tax forms in their processing queue, this has caused much longer delays in getting ERC Refund Checks for those that qualify. The IRS processes ERC Claims in the order they are received. If you haven’t previously filed for the ERC Credit, it is worth scheduling a phone call to explore your possible eligibility from the past 2021 business tax year. Again, not all businesses will qualify, but it’s worth a professional deep-dive evaluation. https://lnkd.in/dtr69VW9 #ERC #ERTC #EmployeeRetentionCredit #EmployeeRetentionTaxCredit #TaxCredit

Nevada Hotels, Resorts, Hospitality ERC Tax Credit in NV (updated 2024) https://lnkd.in/gkFyEgkH Key ERC Credit Takeaways: - Refundable Tax Credit for NV Hotels: Nevada lodging businesses can receive up to 70% in tax credits. - Aid for Hospitality in Nevada: The credit supports Nevada’s hotels and resorts financially. - ERC Credit Accessibility: Nevada hospitality businesses can easily access this tax credit. - Boost for NV Hospitality Sector: The ERC provides substantial financial relief for eligible businesses. Important 2024 and 2025 ERC Tax Credit Deadline: The 2020 ERC Credit Tax Year deadline of 4/15/24 has already passed. Good news? The opportunity to retroactively claim your business Employee Retention Credit for the prior 2021 Tax Year is still available, with a next year April 15, 2025 deadline. This really is your FINAL chance at any potential ERC tax credit refund! Not all businesses will qualify, as it depends on multiple factors per IRS Rules and Guidelines. You might be leaving significant financial relief on the table from past COVID harm to your business in 2021. In late 2023, the IRS had “temporarily” paused processing. You will still want to check eligibility and file now (if you qualify) because the IRS will resume processing tax credit claims in the order they are received. TAKE ACTION NOW IN 2024 DON’T WAIT! Since the IRS has over 1,000,000+ Quarterly 941-X tax forms in their processing queue, this has caused much longer delays in getting ERC Refund Checks for those that qualify. The IRS processes ERC Claims in the order they are received. If you haven’t previously filed for the ERC Credit, it is worth scheduling a phone call to explore your possible eligibility from the past 2021 business tax year. Again, not all businesses will qualify, but it’s worth a professional deep-dive evaluation. https://lnkd.in/dtr69VW9 #ERC #ERTC #EmployeeRetentionCredit #EmployeeRetentionTaxCredit #TaxCredit

Connecticut Hotels, Resorts, Hospitality ERC Tax Credit in CT (revised 2024) https://lnkd.in/dVs79zER Key ERC Credit Takeaways: - CT Lodging Businesses Qualify: Hospitality businesses in Connecticut can apply for ERC. - Credit Amounts to 70%: Receive a tax credit of 70% of qualified wages. - Refundable Tax Credit: The ERC is a refundable credit for qualified businesses. - Boost to Hospitality Sector: Aids in financial recovery for hotels and resorts. Important 2024 and 2025 ERC Tax Credit Deadline: The 2020 ERC Credit Tax Year deadline of 4/15/24 has already passed. Good news? The opportunity to retroactively claim your business Employee Retention Credit for the prior 2021 Tax Year is still available, with a next year April 15, 2025 deadline. This really is your FINAL chance at any potential ERC tax credit refund! Not all businesses will qualify, as it depends on multiple factors per IRS Rules and Guidelines. You might be leaving significant financial relief on the table from past COVID harm to your business in 2021. In late 2023, the IRS had “temporarily” paused processing. You will still want to check eligibility and file now (if you qualify) because the IRS will resume processing tax credit claims in the order they are received. TAKE ACTION NOW IN 2024 DON’T WAIT! Since the IRS has over 1,000,000+ Quarterly 941-X tax forms in their processing queue, this has caused much longer delays in getting ERC Refund Checks for those that qualify. The IRS processes ERC Claims in the order they are received. If you haven’t previously filed for the ERC Credit, it is worth scheduling a phone call to explore your possible eligibility from the past 2021 business tax year. Again, not all businesses will qualify, but it’s worth a professional deep-dive evaluation. https://lnkd.in/dtr69VW9 #ERC #ERTC #EmployeeRetentionCredit #EmployeeRetentionTaxCredit #TaxCredit

Ohio Hotels, Resorts, Hospitality ERC Tax Credit in OH (revised 2024) https://lnkd.in/gERTWvM3 Key ERC Credit Takeaways: - Ohio Hospitality Qualifies for ERC: Hotels and resorts can claim the Employee Retention Credit. - Significant Tax Refund Opportunity: The credit offers a substantial refund for eligible businesses. - Specific Eligibility Criteria: Ohio hospitality businesses must meet certain conditions. - Guidance on ERC Claims: The article provides insights on how to apply for the credit. - Protection Against Scams: Learn safeguards when seeking ERC assistance. Important 2024 and 2025 ERC Tax Credit Deadline: The 2020 ERC Credit Tax Year deadline of 4/15/24 has already passed. Good news? The opportunity to retroactively claim your business Employee Retention Credit for the prior 2021 Tax Year is still available, with a next year April 15, 2025 deadline. This really is your FINAL chance at any potential ERC tax credit refund! Not all businesses will qualify, as it depends on multiple factors per IRS Rules and Guidelines. You might be leaving significant financial relief on the table from past COVID harm to your business in 2021. In late 2023, the IRS had “temporarily” paused processing. You will still want to check eligibility and file now (if you qualify) because the IRS will resume processing tax credit claims in the order they are received. TAKE ACTION NOW IN 2024 DON’T WAIT! Since the IRS has over 1,000,000+ Quarterly 941-X tax forms in their processing queue, this has caused much longer delays in getting ERC Refund Checks for those that qualify. The IRS processes ERC Claims in the order they are received. If you haven’t previously filed for the ERC Credit, it is worth scheduling a phone call to explore your possible eligibility from the past 2021 business tax year. Again, not all businesses will qualify, but it’s worth a professional deep-dive evaluation. https://lnkd.in/dtr69VW9 #ERC #ERTC #EmployeeRetentionCredit #EmployeeRetentionTaxCredit #TaxCredit

Montana Hotels, Resorts, Hospitality ERC Tax Credit in MT (updated January 2024) https://lnkd.in/gWRuH64Q Key ERC Credit Takeaways: - Financial Impact on Montana Hospitality: Montana hotels financially affected by COVID automatically qualify for ERC. - Eligibility Through Government Mandates: Shutdowns or reduced service due to government orders ensure ERC eligibility. - Consulting Available: Free consultations can determine if your hotel qualifies for an ERC refund. Important 2024 and 2025 ERC Tax Credit Deadline: The 2020 ERC Credit Tax Year deadline of 4/15/24 has already passed. Good news? The opportunity to retroactively claim your business Employee Retention Credit for the prior 2021 Tax Year is still available, with a next year April 15, 2025 deadline. This really is your FINAL chance at any potential ERC tax credit refund! Not all businesses will qualify, as it depends on multiple factors per IRS Rules and Guidelines. You might be leaving significant financial relief on the table from past COVID harm to your business in 2021. In late 2023, the IRS had “temporarily” paused processing. You will still want to check eligibility and file now (if you qualify) because the IRS will resume processing tax credit claims in the order they are received. TAKE ACTION NOW IN 2024 DON’T WAIT! Since the IRS has over 1,000,000+ Quarterly 941-X tax forms in their processing queue, this has caused much longer delays in getting ERC Refund Checks for those that qualify. The IRS processes ERC Claims in the order they are received. If you haven’t previously filed for the ERC Credit, it is worth scheduling a phone call to explore your possible eligibility from the past 2021 business tax year. Again, not all businesses will qualify, but it’s worth a professional deep-dive evaluation. https://lnkd.in/dtr69VW9 #ERC #ERTC #EmployeeRetentionCredit #EmployeeRetentionTaxCredit #TaxCredit