Latest news with #levy
Yahoo
4 days ago
- Business
- Yahoo
Council backs call for increased business levies
Hikes in levies paid to York's Business Improvement District (BID) are necessary in order to allow the business-led body to continue its services, events, and efforts to attract investment, according to a York Council report. It has also backed plans to expand the BID area by a further 10 streets, raising the number of levy-paying businesses to 974. Proposals drawn up by the BID's board would see annual levies rise from 1% to 1.6% of the rateable value of each eligible commercial property. A further 2% yearly increase would be applied to cover inflation, with a cap of £20,000-per-property. The report called BID's current financial framework "unsustainable" arguing it had not changed since 2016. An increase in levies, and expanding the BID's area to include more streets, would help fund essential services provided by BID, such as street cleaning, security personnel and cycle storage. The proposals by the BID board are set to be discussed by the council's executive on 3 June, ahead of a ballot on whether to renew the body's term for a further five years. BID members, including the council, are set to be balloted in October - with the new arrangements taking effect from April next year, if they are passed. Members will also be asked to endorse the BID's business plan - due to be drafted by late summer - which will set out its plans and priorities until 2031. Under new proposals, 10 new streets would also be added to the area covered by York BID, taking in those included in its Purple Flag safety campaign and other projects. They are: Blossom Street, Bootham, The Crescent, Eboracum Way, Esplanade Court, Frederic Street, Heworth Green, Layerthorpe, Marygate and Marygate Lane. The additions would increase the number of levy-paying businesses from 892 currently - which together contribute about £800,000-a-year - to 974 businesses. But the report stated business revaluations, which took place in 2023, lowered rateable values by £4.16m, compared to 2017 - meaning the overall amount of levies collected is expected to fall. Services provided by York BID include daily street cleaning, street rangers, taxi and riverside marshals and cycle storage, along with seating and floral displays. The body also helps to organise events, including York Restaurant Week, the annual winter illuminations, the Colour and Light display and Ghosts in the Garden. It also provides subsidised skills training for businesses, in partnership with York St John University, and monitors city-centre footfall, visitor numbers and spending data. The report stated the BID had invested £7.6m into York city centre since it was established, with footfall rising by 7.5% from 2023 to 2024. Shop vacancy rates were at their lowest rate in almost 18 months at 7.4% at the end of last year, under the BID's tenure, the report found. It claimed that progress would be jeopardised if the BID's term is not renewed and levy hikes do not go ahead. The report stated: "The current financial framework of the BID is unsustainable as arrangements have been in place since 2016. "The BID Board is clear that changes must be implemented to secure its operations for a further five-year term." The Local Democracy Reporting Service has contacted York BID for further comment. Listen to highlights from North Yorkshire on BBC Sounds, catch up with the latest episode of Look North. Council tax bills to rise by £90 a year in city City's tourism tax a 'no-brainer' says councillor City of York Council Error in retrieving data Sign in to access your portfolio Error in retrieving data
CNA
5 days ago
- Business
- CNA
German digital ministry treads cautiously over online platform levy
BERLIN :Germany's new digital ministry said any levy on online platforms would have to be internationally coordinated and not result in higher prices for end consumers, in a sign on Friday of possible divisions within government over plans for such a tax. The Minister of State for Culture Wolfram Weimer had said in an interview published on Thursday that officials were working on a levy which would hit platforms such as Alphabet's Google and Meta's Facebook. A levy of 10 per cent would be reasonable, he said - without specifying if this were a tax on revenue or profit. Germany's ruling parties agreed earlier this year to consider the introduction of a digital services levy, but this was not on the list of projects the coalition wants to prioritise. Weimer's proposal had not yet been agreed upon by the government, officials had said. "The decisive factors in evaluating such a levy are that it is designed in a targeted manner, is internationally coordinated and compatible with EU law, that any potential revenue benefits Germany as a hub for innovation, and that ultimately no higher prices are passed on to end consumers," a spokesperson for the digital ministry said. The proposal comes as Chancellor Friedrich Merz is expected to travel to Washington soon to meet with U.S. President Donald Trump, although a trip has not yet been officially announced. Trump has in the past said he will not allow foreign governments to "appropriate America's tax base for their own benefit". Industry association Bitkom warned that the levy could lead to price increases that would impact businesses, public administrations, and consumers. "These price increases will hinder and slow down the urgently needed acceleration of the digitalization of public services and the digital transformation of companies," said Bitkom President Ralf Wintergerst. "What we need is not more, but fewer financial burdens on digital goods and services."
BBC News
22-05-2025
- Business
- BBC News
Cruise ship levy splits views in busy Highland port
An estimated 1.2 million cruise ship passengers visited Scotland last year, according to Scottish government Invergordon - one of Scotland's busiest ports in 2024 - views are divided on the government's suggestion of taxing these visits in the future to raise funds for cash-strapped local authorities. The fine detail of the proposed cruise ship levy - such as how much would be charged and who would pay - has still to be the consultation on the idea is the source of some fierce Munro, who runs the Tanstar gift shop on the town's High Street, is worried about the impact of a levy on small says: "Everyone is struggling just now."People are still going on holiday but they maybe don't have the same amount to spend," she said."So if more charges are put on them it might stop them coming altogether or they maybe won't have the same pennies to spend in the shops." But others argue passengers only pass through Invergordon on their way to visiting other parts of the Highlands before returning to continue their resident Donald Macdonald says a levy could potentially help the town, if the money was spent in the right says: "We're not seeing any benefit at the moment. "There are a lot of people struggling here. There is no work."The passengers are going away on all these tours. Maybe some of them will get a couple of hours to spend in the town."Donald says Invergordon needs adds: "Where's the money to repair the roads?" The Scottish government's consultation closes at the end of this has proposed giving local authorities new powers to charge the says money raised could be invested into facilities the ships and their passengers use, or be left to local authorities to decide where the funds are councils are struggling this week, the Accounts Commission warned local authorities are facing a £647m budget shortfall this year despite an increase in government Scottish government has left it open as to how much the rate should be and who pays - the passengers or the cruise ship operators. Jorge Marin and Maria Snijders, visiting Invergordon on Preziosa, a cruise liner which can carry more than 4,000 passengers, say they would not mind paying a small levy if it benefited the local community. "I am from Mexico," says Jorge."It is a very touristic place as well and to keep ensuring quality we need to have investment."He adds: "I find it (a levy) correct. You are going to be hosting me. It's not a big amount. I think it is a fair thing."Maria, from the Netherlands, also thinks it is a good says: "It is good to pay something. When you go to Spain in a hotel you pay taxes so why not on a cruise ship. It is not so much. "So why not a little bit of taxes?" But the operators of Invergordon's Port of Cromarty Firth are strongly opposed to a new port expects to welcome almost 100 liners this year, carrying a total of 150,000 ships already pay charges for berthing at Invergordon's wharfs and quays, and port bosses any extra burden might put cruises off from port's research suggests a levy of £5 per passenger, for example, would increase the cost of to those ships by 23%.It has also estimated this would lead one in 10 cruise businesses to choose an alternative research suggests passengers spend a minimum of £100 per visit, meaning potentially millions of pounds could be lost to the Highland economy, the port argues. Joanne Allday, the port's head of strategy and business, says she is worried the effect of the extra costs would filter down through the local economy."A lot of the work around the cruise industry is seasonal work," she says."It's people working in shops, it's taxi drivers, it's tour guides. "It's these people who are likely to suffer."She adds: "We don't understand the economic rational for bringing in a levy". 'Crying wolf' But a leading figure at Highland Council - which is consulting separately on another proposed tourist tax - says the region needs convener Ken Gowans says the cruise ship levy is still at a "very early stage".He adds: "What often happens when people hear the word levy there's a knee jerk reaction. "The Port of Cromarty Firth need to consider whether they are crying wolf" "The large number of cruise ship passengers that arrive at Invergordon and clearly that puts additional pressure on our infrastructure."Mr Gowans adds: "So anything we can do to help mitigate that such as a cruise ship levy would be very welcome and it would certainly save the Highland council tax payer considerable sums."
Yahoo
22-05-2025
- Yahoo
Aussie travellers urged to avoid $15 mistake on popular holiday island: 'Tourists are unaware'
It's no secret that Australians love Bali. Last year 1.5 million of us jumped on a flight to visit the picturesque tourist island in search of sun, relaxation, and adventure. However, despite the country introducing a $15 tourist levy last February to help tackle the growing problem of overcrowding at some of the Indonesian island's most popular attractions, very few are actually paying it. The IDR 150,000 levy is in addition to paying the 500,000 (A$50) Visa on Arrival fee to enter Indonesia for up to 30 days. It's been revealed less than 35 per cent of foreign tourists paid the new tourism levy during 2024, prompting the island's leaders to launch a crackdown on those who don't pay. Bali travel insider Ravindra Singh Shekhawat told Yahoo News there are "various contributing factors" — with lack of awareness being one of them. "Tourists are unaware of the tax or requirement to pay on or before arrival," Ravindra, Intrepid's General Manager for Indonesia, explained. "There isn't much info about where to pay or how to pay, and it's not well enforced. A lack of enforcement, up until this point, has also allowed tourists to enter without paying the tax. "You can just walk out of the airport, and nobody is checking," he said. Despite this, Ravindra has urged Aussies to pay the fee, explaining that it's in our interest to pay it, explaining, "We can help Bali become a better tourist destination". Authorities have warned the tourism office is conducting regular inspections at tourist destinations "to ensure that visitors have paid and obtained their levy vouchers", authorities said online. Tourists should keep hold of their receipt to ensure that they can prove they've paid. "It can be paid online via the official website, or upon arrival at the airport," he explained. More payment locations at top tourist attractions have also been installed, such a›s at Lovina Beach, the waterfalls of Munduk, and West Bali National Park. 🏖️ Bali introduces major change for 'all' Aussie tourists 🏊♀️ Tourist's shocking discovery at 'luxury' Bali hotel exposes worrying problem 🪖 Aussie expat slammed over 'embarrassing' move in Bali In March the Governor of Bali, Wayan Koster, announced the first round of funds had been distributed to local communities to use as they see fit in line with policy legislation. Funds must be spent preserving Balinese culture, protecting the natural landscape, or improving infrastructure. "It also goes towards sustainable tourism in Bali," Ravindra explained. "It's really important tourists actually pay this tax so they can keep preserving culture and improving infrastructure." Do you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube.
Reuters
22-05-2025
- Business
- Reuters
UK's Financial Services Compensation Scheme cuts 2025/2026 levy on sector
LONDON, May 22 (Reuters) - Britain's Financial Services Compensation Scheme said it would impose a lower than expected 356 million pounds ($478.04 million) levy on the sector for the 2025/2026 financial year, after a "strong year" in recovering cash from failed firms. In a statement on Thursday, the FSCS - which protects customers of authorised financial services firms if they fail, or have stopped trading - said the total levy payable was 38 million pounds lower than it forecast in November. "In 2024/25, we had another strong year of recoveries, recouping more than 56 million pounds from the estates of failed firms and relevant third parties. This led to higher opening balances carried forward from 2024/25 in certain classes," CEO Martyn Beauchamp said. "These recoveries put money back into the financial services sector and to the customers who use it, helping to build trust and confidence in the sector," he added. The FSCS expects to pay 332 million pounds in compensation to customers during 2025/26, 36 million pounds lower than previously forecast. The scheme protects deposits held in banks, building societies and credit unions, investments, pensions, endowments, insurance and funeral plans. ($1 = 0.7447 pounds)
