Federal manufacturing indirect tax IPI discounted to curb inflation and help post-COVID Brazil has discounted by 25% its federal tax on manufacturing, IPI, Imposto sobre Produtos Industrializados. For a number of automobile vehicles, the IPI rates are reduced by 18.5%. This came into effect on 25
The Indian Central Board of Indirect Taxes and Customs has lowered the annual sales threshold for mandatory GST e-invoices. With effect from 1 April 2022, e-invoicing will be mandatory for all taxpayers that have aggregate turnover exceeding INR200 million (20 Crores). The current threshold, Rs
Uruguay has extended the 1.64% discount on its standard 22$ VAT rate for purchases made by consumers with credit cards. The Ministry of Finance has rolled over the anti VAT-fraud measure until 31 December 2022. This applies for the Uruguay Social debit cars or similar
UK Treasury launches 3-month review on 1% to 2% Online Sales Tax on e-commerce goods and services A consultation into taxing e-commerce to subsidise high-street retailers’ Business Rates charges has been launched until 20 May 2022. Three models are being reviewed: % turnover tax on
Upgrade to 4.0 CFDI mandatory July 2022 The latest version of CFDI e-invoicing system becomes mandatory 1 July 2022 following its optional launch on 1 January 2022. 4.0 changes include: Export information requirements Reporting linked invoices Reversal of invoices reported. Mexico’s Servicio de Administración Tributaria, ‘SAT’
DGI updates rules of pilot and deadlines for roll out of mandatory e-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
2022 Budget extends online facilitating platforms’ liabilities to 7% Provincial Sales Tax for goods and traditional services from 1 July 2022 Provisional highlights for this week’s British Columbian 2022 Budget indicate that deemed supplier marketplaces will become responsible for levying the 7% PST. Since April
Inflation hits 8.4%; rise to nearly 10% forecast Romania is proposing cutting VAT on automobile fuel to 5% from 1 April 2022. This would cover: leaded gasoline, unleaded gasoline, liquefied petroleum gas (LPG) and diesel. VAT cut on domestic electricity from April is also being
The European Commission is proposing to give member states the freedom to waive Value Added Tax on defence spending. This is part of a wider range of measures to promote and support coordinated defence spending amongst the member states. This would be tied to collaboration
Spain to add live B2B e-invoices to existing SII real-time reporting; rollout between 2024 and 2026; legal obligation on ERP and billing system vendors to offer compliant systems A technical specification Bill launching mandatory B2B e-invoices, with government pre-clearance with AEAT, the state tax agency,
