Harmonising import VAT refunds on IOSS and Special Arrangements following 2021 EU e-commerce package Following the introduction of the new import VAT rules in the July 2021 e-commerce VAT package, the EU is looking to harmonise the treatment returned goods. This requirement for this has
VAT compliance and reporting rules in Austria Below is summary of the major rules provided under Austrian VAT rules (Mervärdesskattelagen 1994, VAT Act; Regulations and guidelines from the Ministry of Finance), plus adoption of EU VAT Directive provisions. Check our country VAT guides for other
Tax office seeks tax information from platforms, banks and others to tighten VAT collections Vietnam’s General Department of Taxation (GDT) has issued guidance for local tax offices to co-opt various parties in gathering details of taxable trade. This includes: Home sharing platforms Digital payments services
Goods and Services Tax compliance and reporting rules in Australia Below is summary of the major rules provided under Australian GST rules (New Tax System (Goods and Services Tax) Act 1999; A New Tax System (Goods and Services Tax) Regulations 2019). Check our country VAT
Plan eliminate reduced rate as part of wider 2030 tax simplification plans Vietnam is to consolidating its reduced rate of 5% with the standard rate of 10%. The reduced rate currently includes: Basic foodstuff; transport; agriculture; medicines; cultural, cinema; books; education; scientific and tech. Vietnam
12.4% inflation prompts cut in fuel VAT rates 30 April 2022 Estonia is the latest country to turn to a temporary Value Added Tax rate cut to help combat spiking prices on the global energy markets. VAT on petrol, diesel, heating oil and gas will
Russia cuts VAT for tourism services and investment for five years in acknowledgement of surplus in industry following Ukraine invasion The Russian government has cut the Value Added Tax rate for investors in tourist and hospitality facilities to zero. This will apply from the opening
The Federal Tax Authority of the United Arab Emirates (UAE) has confirmed that sole traders (‘sole establishment’) – individuals not incorporated – may apply for a VAT number for their business(es). UAE VAT obligations The sole trader may apply in their own name or the
Early adopter of OECD Standard Audit File for Tax taxpayer data scheme Luxembourg introduced the Standard Audit File for Tax (SAF-T) in January 2011. It is known as FAIA (Fichier Audit Informatisé). It is a schema for the exchange of accounting and VAT transactional data between
Kenya continues with its DST despite OECD agreement for 2023 global corporate tax reforms The latest Kenyan Finance Act has limited the application of the 1.5% Digital Services Tax (DST) to non-resident digital marketplaces. DST came into effect on 1 January 2021. This is in
