Updates to Value Added Tax rules with GCC VAT Agreement The Ministry of Finance in the United Arab Emirates is making a series of changes the Federal Law on VAT of 2017. These will bring it into line with the GCC Unified VAT Agreement, the
Anti-VAT fraud VAT splitting measure The Italian Department of Finance has extend the list of companies which suppliers must apply VAT split payments on. This requires suppliers to pay the VAT element of their sales invoice into special, blocked VAT bank accounts with the tax
VAT Act published ahead of January 2023 implementation The Suriname 2022 VAT Act has now been gazetted for the introduction of VAT from 1 January 2023. This replaces the existing Turnover Tax except for the small company scheme. The sets a threshold of SRD 1
Ongoing struggles in sector following COVID lockdowns prompt shift from standard to reduced VAT rate The Lithuanian parliament is considering a proposal to reclassify a range of sport and culture activities from the standard rate of VAT at 21% to the reduced rate of 9%.
Fines, financial services, invoice deadlines updates to Executive Regulations The Omani Tax Authority (OTA) has gazetted changes to the VAT Executive Regulations as part of the VAT Law. Get our free VAT newsletter for international VAT updates. The changes include Changes to the place of
Inflation rise above 10% prompts consideration of temporary zero-rating of basic foods The Jersey Assembly is to review a Bill to temporarily reduce the 5% Goods and Services Tax on basic foodstuffs to zero. This would exclude alcoholic beverages. Get our free VAT newsletter for
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:
