HMRC publishes good practice in relation to VAT accounting and compliance processes The UK’s HMRC has published on 18 September 2024 a wide ranging Guidelines for Compliance (GfC) set of best practises for VAT controls. GfC’s are a series of summaries of HMRC’s views on
Confirmed: military emergency VAT rise following Jan 2024 2% increase Estonia’s government has confirmed a July-announced new, emergency VAT increase. The rate will rise from 22% to 24% from 1 July 2025. There will also be rises in corporate and personal income taxes. With the money
Oct 2024 VAT rise postponed again; Oct 2025 potential next date The Thai cabinet on 17 September 2024 confirmed that the scheduled rise in VAT from 7% to 10% will not go ahead on 1 October 2024. VAT was cut from 10% to 7% in
2026 switching accommodation, books cultural services from 9% reduced rate to 21% standard rate The Dutch government has confirmed on 17 September 2024 in its 2025 Tax Plan that it will recategorise a range of supplies from 9% to 21%. This will raise €2.2 billion
Legislature mandatory e-invoicing completes El Salvador’s rollout of mandatory e-invoicing completed on 1 July 2024 following a phased launch from 2022. Salvadoran electronic invoicing (Electronic Tax Documents (DTE)) covers: invoices; delivery notes; debit and credit notes; delivery notes; settlement receipts; withholding receipts; and tax credit
EU Court of Justice rules Polands split payment fraud regime is proportionate to compact VAT fraud In 2019, Poland introduced a split payment bank account requirement in sensitive fraud-prone sectors. This required customers to remit the VAT element of their payments into dedicated VAT bank
Foreign providers liable to register and collect VAT on electronic services The Pacific Ocean island country of Republic of Kiribati imposes 12.5% Value Added Tax collection obligations on non-resident providers of digital or electronic services to local consumers. See the Value Added Tax Act, 2013
Peppol’s ViDA Pilot: Supporting ViDA via 5-corner e-invoicing Peppol Network The Peppol network is starting a pilot program this Autumn to demonstrate how Peppol model can facilitate compliance with proposed B2B VAT in the Digital Age‘s first Pillar of reforms, due in July 2030, Digital
Kenya’s Treasury Secretary mulls 2% VAT cut to stimulate growth The Kenyan Treasury Cabinet Secretary has floated a 2% VAT rate cut from 16% to 14%. This would come with a Corporate Income Tax reduction from 30% to 25%. The tax cuts, the Secretary believes,
VAT Rulebook changes to compliance rules The Ministry of Finance has updated the VAT Rulebook, with a range of updates to VAT calculations, invoicing, records and filings. The updates came into effect on 1 September 2024. The Rulebook is a consolidation of previous VAT guidelines,
