More time allowed for 2021-22 input and credit allowances A number of delays have been provided for by the Central Board of Indirect Taxes of India. These are extensions on claims for certain credits on Goods and Services Tax for the 2021-22 year. They include:
First 600 taxpayers on e-VAT; full mandate for all by 2024 The Ghanian Revenue Authority (GRA) has now onboarded 600 taxpayers to e-VAT, its electronic invoicing reporting regime. These are large and high-risk taxpayers. Get our free VAT newsletter for international VAT updates. This covers
Proposals to cut indirect taxes on fuels as inflation ticks up Vietnam’s finance ministry has put forward two alternative measures to cut indirect taxes on fuel. These are: Cut VAT 20% and Special Consumption Tax by 50%; or Cut VAT and Special Consumption Tax by
Increases consolidated sales taxes from 6% to 7% ahead of introduction of VAT in 2024 Aruba is to raise its BBO turnover tax 1% to 2.5% from 1 January 2023. Combined with the Health Tax, BAZV, this will mean the consolidated sales tax burden will
2023 Budget hike VAT threshold and other measures The Caribbean islands state of Trinidad & Tobago is to increase its Value Added Tax registration threshold. It will increase from TT$500,000 to TT $600,000 (approx. €90,000) per annum. In addition, there are new VAT exemptions for
2023 Budget zeroes VAT on newspapers and rolls over temporary cut to gas and electricity Ireland published its 2023 Budget on 27 September 2022. It included a number of VAT measures, including: Zero-rating of VAT on paper and digital newspapers and periodicals Extension of 9%
9.6% August inflation prompts rollover of petrol VAT cut The VAT cut on retail petrol in Cyprus has been extended to 15 January 2023. They were due to end at the end of this month. Prior cuts due to end August 2022 This inflation burst
Parliament reviews VAT rate cuts on food and domestic energy till Dec 2025 The Latvian Ministry of Economics is considering a two-year cut in the Value Added Tax rate on basic foodstuffs from 21% to 5%. This would cover meat, diary and bread. An extension
List of VAT registered non-resident digital service providers extended to 159 Mexico’s Tax Administration has provided an update to its regular listing of foreign digital services providers and intermediaries that are VAT registered – the Federal Taxpayers’ Registry. This means payment provides (debit/card cards; bank
Belgian VAT code gets update Belgium is considering a range of VAT compliance updates. A draft Bill is now passing in Parliament regarding a number of measures. Also, see our Belgian VAT country guide. The updates include: New legal definition of an electronic invoice as
