Tax
New Look to accelerate store closures ahead of tax changes
The British fashion retailer is reportedly accelerating its store closure campaign ahead of tax rises in the UK’s next budget. It’s feared more retailers will follow in its footsteps
FDRA calls for tariff reform following US election
FDRA President Matt Priest seeks to dialogue with the Trump administration to address tariffs on footwear goods, aiming to reduce household expenses and protect over 300,000 jobs in all 50 US states
Steve Madden to cut on sourcing goods from China for fear of Trump’s tariffs
The US company is accelerating its plans to move production out of China after Trump’s victory in the country's presidential election increased the likelihood of higher tariffs on imported goods
French parliament reduces VAT on shoe and leather goods repairs
France’s lower house of parliament has approved a tax break for repairers by reducing the VAT rate from 20% to 5.5% on the repair of shoes and leather goods
FDRA calls on Biden administration to eliminate footwear tariffs
Matt Priest, president and CEO of the Footwear Distributors & Retailers of America (FDRA), called on the Biden administration to eliminate tariffs on footwear in order to address rising shoe prices
France on course to penalise fast fashion
In mid-March, France’s lower parliament approved a bill imposing penalties on ultra-fast fashion products to help offset their environmental impact. The law has now been sent to the Senate
Overturned veto on payroll tax exemption cheers the Brazilian footwear sector
The overturning of President Lula’s veto of the bill to extend the payroll tax exemption until 2027 in the National Congress on the 14th of December has lifted the spirits of the footwear sector
Brazilian footwear industry regrets presidential veto to maintain payroll tax exemption
National footwear manufacturers were surprised by President Lula da Silva's veto to maintain the payroll tax exemption policy and expect a loss of 20 000 jobs in 2024 in the industry
New tax exemption puts 30 000 jobs at risk in the Brazilian footwear industry
The warning comes from Abicalçados, which voiced concern over the exemption of tax payments for large international platforms for the entry of products in the range of up to 50 US dollars
Scottish businesses experience a 10% decline in rate bills
The country’s shops are seeing a drop of almost 10% in business rate bills of nearly 10%, following a reassessment made by the Scottish Government last month
UK Spring Budget fails to meet retailers expectations
British retail bodies believe the Government could have gone further to support businesses with the Spring Budget. No changes were introduced concerning VAT-free shopping, shopping hours or business rates
AAFA applauds nine-month extension of tariff exemption
The American Apparel & Footwear Association (AAFA) praised the Biden administration's decision of extending exclusions for many of the tariffs imposed by the Trump administration on Chinese imports
UK to reintroduce tax-free shopping for international visitors
The UK Government is planning to reintroduce VAT-free shopping for overseas visitors to boost business growth. Luxury and retail sectors have welcomed the measure
US: footwear prices increase significantly
According to the Shoe Price Report issued by the Footwear Distributors and Retailers of America (FDRA), footwear prices are increasing at the fastest rate in over 20 years, with year-to-date prices up by 3.2%
AAFA: industry expresses concern over tax-tariff burden
The American Apparel & Footwear Association President and CEO Steve Lamar expressed concerns with the Biden administration’s plans to continue collecting tariffs-
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