Reduction in VAT rates for accommodation, restaurants and hotels The Peruvian Congress has agreed a temporary reduction in the Value Added Tax rate on tourism and hospitality. This includes: Hotel and similar accommodation Restaurant and café services Catering services The rate will be reduced from
Two-step sales tax (gross receipts tax) rate reduction with growing dependency of energy taxes The US state of New Mexico has reduced its sales tax (termed gross receipts tax) rate from 5.125% to 5%. It will be cut again by the same amount to 4.875%
EU VAT Directive amendments for Single VAT registration, digital reporting requirements (e-invoicing) and digital platforms VAT role due November The European Commission has confirmed that details of major reforms to the VAT regime will be published on 16 November 2022. These reforms, known collectively as
Pension deficit from ‘Baby Boomers’ prompts National Council to approve national referendum on VAT rise An ageing population, and funding shortage in the public pension system (OASI), has led to the National Council and Council of States to approve a national referendum for 25 September
January 2023 rate rises to sparkling drinks, hotels and catering VAT The VAT amendments to the fiscal code have been agreed for 1 January 2023 Fizzy drinks reclassified from 9% reduced VAT rate to standard 19% rate. Hotel and similar short-term accommodation raised from 5%
Temporary tax breaks on domestic fuel and basic foodstuffs as inflation continues rise The Bulgarian government has confirmed a range of emergency VAT rate cuts and rollovers of existing temporary cuts: An extension of the temporary cut to 9% for domestic energy and hearting until
Russia has put on pause plans to mandate B2B electronic invoicing The existing ‘Traceability Model’ on retail sales will not be extended to the B2B transactions for the forceable future. This was confirmed by the Ministry of Finance in June 2022. Invoice Traceability Model adopted
Major global Value Added Tax and Goods and Services Tax changes from 1 July 20022 To get free regular e-mail news alerts on global VAT or GST changes, sign-up to our newsletter
The Caribbean British territory of Anguilla has introduced a 13% Goods and Services Tax (GST) on 1 July 2022. Mandated business may now register if they are above the GST registration thresholds (see below). Introducing a full consumption tax has been debated many times over
