Budget confirms 20% VAT on private education and boarding services from 1 January 2025 Anti-forestalling provisions to prevent advance payment VAT avoidance from 29 July 2024 The new UK Chancellor, Rachel Reeves, has confirmed in her Autumn Budget on 30 October 2024 that the government
Law amends & details of 2026 B2B and B2G decentralised mandatory 5-corner model On 29 October, the Arab Gulf state of United Arab Emirates (UAE) Ministry of Finance and Federal Tax Authority has updated the VAT Law to include provision for e-invoicing: definitions; recovery; issuance;
EU banking & insurance VAT exemption overhaul rolled into wider financial services tax review The EU’s long term aim to withdraw the outdated VAT exemption on financial services has now been rolled into a wider examination of the taxation of the sector. Concerns around the
Jan 2026 SIF VERI*FACTU approved invoicing software: new technical specifications 28 Oct 2024: The newest technical specifications (Order HAC/1177/2024) have been gazetted for the new computerised invoicing requirements (SIF) detailing the legal requirements (VERI*FACTU). This represents relatively small changes to the last details, and covers:
OECD Report to G20 includes Pillar 1 reforms update as countries reactivate Digital Services Taxes The OECD has updated Finance Ministers of the G20 on progress on tax talks, including BEPS. The report covered Pillar 1 talks to redistribute the jurisdictional rights to tax revenues
President drops 2025 tax reform bill introducing 18% VAT on non-resident providers of e-services The Caribbean island state of Dominican Republic has withdrawn plans to implement VAT liabilities for foreign providers of digital services for local consumers. The President was unable to gather enough political
Pillar 2 delay to January 2030 (voluntary Jul 2028) with 10-year opt-out proposal to unlock Estonia’s veto on VAT in the Digital Age. ViDA confirmed on 5th Nov ECOFIN agenda for final agreement A revised VAT in the Digital Age proposal for the outstanding Pillar
Swiss Federal Council backs 0.7% VAT increase in 2026 to fund pensions rise The Swiss Cabinet on 16 October 2024 approved a draft decree for a VAT hike from 0.4% to 0.7%, taking the standard rate from the current 8.1% to 8.8% – probably in 2026.
EU Working Party on Tax reviews Fiscal representation to encourage adoption of IOSS and close VAT fraud Proposals are being discussed on 6 November 2024 at the EU’s Working Party on Tax Questions to reform the Import One-Stop Shop reporting to shut down VAT fraud
Parliament reviews behavioural taxes under EU control: VAT; alcohol; tobacco; and energy products The EU Parliament has published a briefing on behavioural taxation, which can be used to influence consumer behaviour, as well as to collect revenue. The EU has set ambitious environmental and health
