Draft 2025 Finance Bill includes e-invoicing to tackle fraud The Directorate General of Taxes and Domains (DGID) of West African country of Senegal is gearing-up for the introduction of mandatory electronic invoicing for all commercial transactions. The measure is included within the 2025 Finance Bill.
Switch from source to destination VAT; rise in tourism rate The Indian Ocean archipelago state of Maldives is switch the basis for determining where Goods and Services Tax (GST) is due and rising the tourism rate on 1 July 2025. Switching to Destination Principle GST
Annual threshold for mandatory VAT registration rises to BGN 166,000 from 1 January 2025 Bulgaria’s Parliament is reviewing a rise in the annual VAT registration threshold from 1 January 2025. It will increase from the current BGN 100,000 (approx. €51,000) to BGN 166,000 (approx. €85,000).
Annual sales threshold for mandatory VAT registration increases from €50,000 to €60,000 Croatia’s Finance Ministry has stated there will be a €10,000 rise in the annual sales threshold for mandatory VAT registration. The new threshold will be €60,000 from 1 January 2025. This would take
Parliament adopts Bill to prolong reduced VAT until 30 Jun 2025 Belgium’s Ministry of Finance has proposed extending the reduced VAT rate on the demolition and reconstruction of dwellings until 30 June 2025. The current reduction is due to end on 31 December 2024. The
Travellers to be able to reclaim VAT in Gulf state Saudi Arabia will implement a VAT refund system for tourists in 2025, as part of its efforts to enhance the travel experience and boost tourism. The initiative aligns with the National Tourism Strategy, which targets
General Department of Taxation launched a virtual VAT assistant The Vietnamese General Department of Taxation has introduced an AI-powered virtual tax assistant, with a focus to boost VAT e-commerce compliance Vietnam has already announced that it will be adopting Artificial Intelligence to help identify tax
Tax Reform Bill to shake-up VAT revenue split between regions A new Tax Reform Bills has been submitted to the NigerianNational Assembly for consideration and proposes an equitable model to share the Value Added Tax among the 36 states of the federation. The bill also
Jan 2025: Report of sales to VAT registered businesses in other EU states now included in VAT Return The Estonian parliament had approved the proposed consolidation of the EC Sales List with the VAT return from 1 January 2025. The aim is to reduce the
DGT updates technical specifications of e-invoicing and receipts Jun 2025 Costa Rica’s General Directorate of Taxes (DGT) is updating the technical structures for the issuance of e-receipts. This new version to the regime introduced in 2018, 4.4, includes cells for: non-resident parties; leasing arrangements; discount
