Reduced rate of 3% under new EU freedoms on reduced VAT rates Update: this new rate was gazetted on 23 July 2023, and so is now in effect. Cyprus’ Council of Ministers has agreed to introduce a new 3% reduced VAT rate under the new
Jul 2023 extension of digital services subject to VAT; new return filing deadline The 2023 Finance Bill has widened the VAT net on digital services. From 1 July 2023, electronic services will now include digital intermediation services and online advertising services. The deadline for filing
Switzerland’s Parliament agrees a range of compliance change to the VAT Act which come into effect on 1 January 2025. The main changes are listed below. Switzerland will raise VAT in 2024 to 8.1%. Marketplace deemed supplier VAT obligations, shifting the VAT collection obligations from
10 July 2023 VAT standard rate increases from 18% to 20% Turkey has gazetted on 7 July 2023 a 2% increase in its VAT rate from 10th July 2023. The reduced VAT rate will also increase from 8% to 10%. The 1% reduced rate on
Canada issues latest round of Goods and Services Tax refunds of over $220 each to 11 million citizens Canada’s Revenue Agency has confirmed a GST credit refund to over 11 million citizens to help support the less wealthy during the period of heightened prices. Canada
EU VAT Directive Art 194 domestic reverse charge to combat fraud Denmark’s Tax Administration has made a range of changes to its VAT laws to tackle VAT fraud. These include: Imposition of domestic reverse charge for wholesale sales of telecommunications services to tackle carousel fraud.
Central Asian state follows example of Canada and others in offering less well off VAT refunds rather than untargeted reduced rates or exemptions Uzbekistan has introduced VAT credits on essentials supplies for low-income citizens rather than further VAT cuts or exemptions. Uzbekistan has cut VAT
European Court of Justice finds (Cabot Plastics) providing ancillary services to toll manufacturing by group company does not trigger VAT Fixed Establishment status The European Court of Justice has today ruled (Cabot case (C-232/22)) that the VAT Fixed Establishment status and associated VAT obligations are
