171 countries have implemented VAT or GST at 1 July 2022 as Anguilla adopts GST Since the first introduction of a Value Added Tax in France in 1954, it has now been adopted by 171 countries around the world. This follows Anguilla’s adoption of a
European Commission turns down request to exempt new Gas Levy from VAT – but will work of other solutions The European Commission has today, 16 August 2022, turned down a request from the German Finance Ministry to exempt from VAT a one-off Gas Levy on
Plans for simple single VAT rate lose out Bangladesh is to back track on original plans for a single VAT rate simplification, and instead reduce from six rates to four. The new rates will be: 15% standard; 10%, 7.5% and 5% reduced rates. Only the
DGI prepares for January 2023 final rollout phase of electronic invoicing. Since 2021, a pilot roll out is underway of mandatory e-invoicing for all new taxpayers on the Electronic Invoicing System SFEP (sistema de facturación electrónica de Panamá). Part of the aim of the pilot is to
Trial of B2C electronic receipts extended to 2nd phase October 2022 Egypt is launching the second wave of pilot of electronic invoicing / receipts on 1 October 2022. The first wave started on 15 April. This follows the roll out of B2B e-invoicing since last year.
Chile drops daily sales summary for e-invoicing From 1 August 2022, tax payers who must submit daily sales reporting will no longer be required relieved of the requirement. Instead, the tax authorities will rely on DTE (see below) to complete their electronic sales and purchase
EU extends Brexit infringement deadline to 15 September. EU latest legal action against UK on failure to fully implement Northern Ireland Protocol: Import One-Stop Shop e-commerce VAT return; customs checks of goods between NI and GB; and excise measures The European Commission has started four
Government wishes to extend mandatory electronic invoicing to hundreds of thousands of small business to curb fraud India’s Central Board of Indirect Taxes looks set to lower further on1 January 2023 the annual sales threshold for adoption of mandatory electronic invoicing to be submitted to the
Finance Ministry looks to zero-rate VAT on upcoming €1,000 Gas Levy as energy inflation reaches 35.7% Germany’s plan to impose a one-off Gas Levy on its consumers in September to help importers with the rising prices may come with a VAT exemption. The Finance Ministry
