January 2025: annual sales threshold for mandatory VAT registration increases from €35,000 to €50,000 Luxembourg has proposed increasing the annual threshold for Value Added Tax registration in January 2025 from €35,000 to €50,000. The Bill 8406 to implement is now in the Chamber of Deputies.
e-facturation Finance Law to introduce centralised e-invoicing platform The East African island state of Madagascar is set to become the latest country to mandate the use of centralised e-invoicing. The latest Finance Law changes include the introduction of an e-facturation platform to collect structured VAT
2025 E-invoicing extension consultation launched The Moldavian Ministry of Finance has launched a public consultation of its proposed extension of e-invoicing (e-factura) regime to further public-related bodies. It is proposed to implement the mandate from 1 January 2025. Moldova introduced compulsory B2G e-invoicing at the
Switch from 19% standard to 7% reduced VAT rates January 2025 The Value Added Tax rate on the sales of art work in German will fall from 19% to 7% from 1 January 2025. This is a return to the reduced rate reverses the hike
Federal government proposal to hike VAT from 7.5% to 10% will be phased The proposed 2.5% VAT increase in Nigeria is likely to be phased in according to the Presidential Tax and Fiscal Policy Reforms Committee. This follows a call by the Minster of Finance
GTT sales tax once UK-EU treaty completed The Mediterranean UK overseas territory of Gibraltar is likely to introduce a turnover tax once the UK and EU have agreed a post-Brexit treaty. Key features of the new sales tax are: Gibraltar Transaction Tax GTT Likely rate
5 tax agencies Phase 2 EU ViDA Digital Reporting Requirements transaction data technical challenges Denmark, Finland, Iceland, Norway and Sweden tax authorities have completed a second phase of their pilot technical trial of exchanging VAT invoice data based on the EU ViDA Digital Reporting Requirements proposal.
BC retrospectively broadens PST net on software The Canadian province of British Columbia has retrospectively widened the Provincial Sales Tax net on software. The change removes the limit of sales tax obligations from just ‘software programs’ to software. This means many digital services that did
HMRC changes scope of VAT due to changes in carbon credit market In the UK, the sale of carbon credits are outside of the scope of VAT as there was no secondary market for onward supply. The UK’s HMRC is changing this from 1 September
Government considering VAT and other tax rises to fund military spending Following the Russian invasion of Ukraine in 2022, Lithuania is looking at a 1% VAT increase to 22% to help meet additional military spend. Estonia VAT increased at the start of this year to
