Zero-VAT measure until April 2025 Lithuania is progressing a Bill to reclassify the supply of residential fuel and hot water from the 9% reduced rate to zero. The measure, not in Parliament, would come into effect between 1 November 2024 and 30 April 2025. Economist
Malaysian Ministry of Finance 2025 Budget Proposal On October 18, 2024, the Malaysian Ministry of Finance presented its 2025 Budget Speech, introducing several notable changes to the country’s tax regime aimed at broadening the tax base and enhancing revenue collection. These proposals reflect Malaysia’s ongoing
Parliament approves VAT registration threshold rise to acknowledge record inflation Sweden’s Riksdag parliament has signed-off on raising the 2025 annual sales threshold for VAT registration from SEK 80,000 to SEK 120,000 (approximately €10,100). The threshold was last raised in 2022. This new threshold will apply
VAT and customs loophole narrowed to dissuade cross-border shopping Switzerland is to cut from CHF 300 to CHF 150 the VAT and customs-free threshold for imports of goods. This applies on goods brought into Switzerland by individuals for personal use or as gifts. The measure
Platform operators face VAT deemed supplier and reporting obligations from January 2026 A bill (Proyecto de Ley de Cumplimiento de las Obligaciones Tributarias) to impose new VAT deemed supplier and reporting obligations on digital platform operators has been based by the Chilean Congress. It is likely
2025 Budget seeks to help less well off On 7th October 2024, the Norwegian government published its 2025 Budget. This includes a range of measures to support the less well off as the economy recovers from the COVID-19 pandemic and inflation spike The Government is
UAE introduces 2018 retrospective VAT exemption for crypto currencies and virtual assets The UAE Federal Tax Authority recently issued an updated version of the Executive Regulation of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (VAT), reflecting changes in Cabinet Decision No.
Increase on annual sales threshold for mandatory VAT registration in 2025 budget In the 2025 Budget, released on 1 October 2024, Ireland is proposing to increase the existing VAT registration thresholds for businesses as follows: Goods: from €80,000 to €85,000; and Services: from €40,000 to
Thai extends VAT exemption Thailand has extended the VAT exemption of cryptocurrencies such as Bitcoin. The new Royal Decree 788 came into force on 25 September 2024. It extends VAT exemptions for the transfer of digital tokens or cryptocurrencies via licensed dealers and brokers which
Calls for major reforms: Rate rationalisation; dispute resolution; input tax credits India’s Goods and Services Tax is up for reform.GST was implemented in July 2017, and gave the country’s internal market a major boost be simplifying internal trade by removing complex and overlapping multitude of
