Belarus 18% VAT 2020
Belarus plans to lower its standard VAT rate from 20% to 18% from the start of 2020. The reduction will be subject to Russia’s plans to raise its VAT rate to 22% to cut labour taxes, which would amount...
View ArticleIndia 18% GST on banking & insurance
India has confirmed plans to bring banking and insurance services within the net of the new Goods and Services Tax (GST), due to be implemented on 1 July 2017. This will increase taxes on financial...
View ArticleHungary delays live invoice reporting
Hungary has dropped plans to require live invoice reporting until July 2018. The requirement had been for the submission of XML-based details of VAT invoices above HUF100,000 (about €300). The plan...
View ArticleGulf ready for VAT?
As the six Arab Gulf states prepare for the launch of 5% VAT from 1 January 2018, many questions and concerns remain unaddressed. Legal Delays The principle concern is that no legislation has been...
View ArticleFrench new VAT software obligations Jan 2018
France has introduced anti-VAT fraud software requirements which are to be implemented from January 2018. This includes using certified, secure software for recording all customer payments – including...
View ArticleSaudi Arabia 2018 VAT bill
Saudi Arabia today published its draft VAT law. It is first of the six Gulf Arab states planning to launch VAT on 1 January 2018 to present detailed legislation. The other states of the Gulf...
View ArticleSlovakia VAT update
Slovakia has proposed several changes to its VAT laws which come into effect on 1 January 2018, including: The right for the tax authorities to seek a €1,000 VAT deposit for non-incorporated persons...
View ArticleEU legal blow to reverse charge fraud measures
Lawyers to the European Council of Ministers have alegedly cast doubt on a proposal to introduce a voluntary reverse charge mechanism to combat VAT fraud. The measures were to be introduced until 2022...
View ArticleItaly delays new VAT return
Italy has announced that the deadline for the submission of the new quarterly VAT return has been extended to 12 June 2017. The deadline was 31 May 2017. The new return requires VAT registered...
View ArticleSNP tourism VAT cut call
The SNP has called this week in its UK election manifesto for a VAT cut to tourism industry. This has long been rejected by the UK government which controls UK-wide policy under EU laws. However,...
View ArticleAvalara VAT Reporting content updates 01-06-2017
Spain – VAT Reporting SII – Now available In this release, we have added the functionality to support the Spanish SII system of “Immediate Supply of Information” which comes into effect from the 1st...
View ArticlePoland extends SAF-T to bank accounts
Poland has proposed extend its existing Standard Audit File for Tax (SAF-T) VAT transaction reporting obligations to include daily bank transactions. The proposed implementation date is 1 September...
View ArticleEcuador cuts VAT to 12%
Ecuador has returned its VAT rate from 14% to 12% on 1 June 2017. The country temporarily raised it to 14% in 2016 to help raise extra funding in the wake of an earthquake. The post Ecuador cuts VAT to...
View ArticleEU plans VAT liability on marketplaces for Sellers’ non-EU imports
The EU Parliament’s Committee on Economic and Monetary Affairs (ECON) has proposed to make online marketplaces liable for VAT on goods sold on their portals by non-EU merchants. The obligation would...
View ArticleBangladesh VAT update
Bangladesh’s 2017 budget includes a number of changes to the VAT regime. These include: A new 4% turnover tax will be levied on businesses with a turnover below BDT15million The VAT registration...
View ArticleUK DUP tourism VAT demands
Following the June 8 UK election, the Conservative party is negotiating an alliance with the Northern Ireland Democratic Unionist Party (DUP) to form the next government. The DUP’s election manifesto...
View ArticleThailand e-commerce 5% VAT withholding
The Thai government is reviewing a VAT bill to levy a 5% VAT withholding levy on all e-commerce goods and services transactions. The VAT would be charged and collected by banks and credit card...
View ArticleGibraltar loses tax ruling at EU Court
The European Court of Justice (ECJ) has today ruled against Gibraltar’s appeal to have it exempted from the UK’s 15% gambling tax. This set-back for the island’s burgeoning offshore gambling sector...
View ArticleIndia 1 Jul GST launch challenges
The Indian Goods and Services Council approved on 3 June the final stages of the implementation of GST for 1 July 2017. It confirmed the last outstanding GST rates, and some transitional issues around...
View ArticleAustralia foreign e-commerce GST 1 Jul 2017
Opposition parties are continuing to call for a 1-year postponement on plans to levy GST on small B2C transactions from 1 July 2017. This is despite the enacting legislation, the Treasury Laws...
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