Continued freezing of UK VAT registration threshold at £85,000 until April 2026 draws in 16,700 small businesses into tax net Today’s UK Autumn Statement (budget) will extend the VAT threshold at £85,000 for a further two years until at least April 2026. This means the
July 2023 – threshold reduced on reporting of e-invoices South Korea’s near real-time e-invoicing regime will be made mandatory for a larger group of companies as it cuts the annual reporting threshold from KRW 200m to KRW 100m (approx €74,000). South Korea first introduced mandatory
Anti-inflation shield VAT cuts fall foul of EU VAT Directive rules The EU’s European Commission has blocked VAT zero-rating of natural gas, fuels and fertilers by Poland as part of its ‘Anti-Inflationary Shield’. However, it has agreed to zero-rating of basic foods. Under EU VAT
13 new regions join mandatory e-invoice (e-fapiao) pilot in August 2022; full roll out by 2023 28th Oct 2022 update: the southwestern Chinese province of Sichuan has joined the e-fapiao pilot. China’s State Taxation Administration (‘STA’) is continuing to expand its introduction of the special e-fapiao e-invoice system,
State court blocks 6% sales tax on digital services In the latest twist on the implementation of sales tax on digital services in Maryland, a state circuit court has stuck down the charge as violating the Internet Tax Freedom Act, the Commerce Clause, and the
