2024 Budget renews electricity supplies VAT cut until Dec 2024 The Portuguese government’s 2024 budget proposes extending for a further twelve months the reduction in VAT on electricity supplies. The rate is currently 6% since being cut from 13% in October 2023. Sept 2023: 9%
e-Bright singles out VATCalc as number one Challenger in global tax tech community In its new global tax tech league tables, e-Bright, the tax education company, has named VATCalc top of its “Challengers” category. Contact us for a free demo. This is based on VATCalc’s
2024 increase from €40,000 to €50,000 for annual VAT registration threshold In the Latvian draft Budget, a proposed hike in the VAT registration threshold is set to rise from €40,000 to €50,000 per annum. This will only apply to resident businesses. Non-resident businesses, where they
Further extension of VAT rate cut to natural gas supplies until 31 December 2023 Italy has gazetted an eighth extension to the super reduced VAT rate on the supply of nature gas. The rate will continue to be 5%. The current temporary cut from 2021
1 October 2023 top rate GST for online gaming, casinos and horse racing The Indian GST Council, which oversees the national Goods and Services Tax, has subjected online gaming, casinos and horse racing to the top rate 28% GST from 1 October 2023. The previous
Drop of over 40,000 VAT registered business in past year The UK has experienced the first drop in the number of VAT and PAYE registered businesses since 2011. The number of businesses registered is now 2.7 million. Small traders were the hardest hit, with sharp
Strengthening e-commerce powers to tackle evasion; no new e-invoicing timetable In this week’s 2024 Finance Bill, there are a number of upgrades of powers and rules for the tax office (DGFIP) to tackle fraud. This follows the plan to combat public finance fraud announced by
VAT imposed on renters of three or more properties 2024; hike in ‘stayover tax’ Greece is to automatically apply VAT on sharing economy home renting where the provider offers three or more properties. The VAT rate on accommodation in Greece is currently 13%. This is
