Value-Added Tax rates matter, even if you're getting a refund.
In early January, the Value Added Tax in the United Kingdom rose to its highest level ever, from 17.5 percent to 20 percent. The U.K.’s Coalition Government expects the increase to add £13 billion in revenue to help cut down the country's budget deficit. Observers believe the VAT increase will have a negative impact on inbound leisure travel. But what about for meetings and conferences? Because much of VAT paid on meeting expenditures is refundable, and you’re a planner working with a VAT ...
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