EU Financial Services VAT exemption reform in wider tax review
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insurance VAT exemption overhaul rolled into wider financial services tax review The EU’s long term aim to withdraw the outdated VAT exemption on financial services has now
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insurance VAT exemption overhaul rolled into wider financial services tax review The EU’s long term aim to withdraw the outdated VAT exemption on financial services has now
Reduction from 10% to 9% of Harmonised Sales Tax. Combined GST rate goes from 15% to 14% The Canadian province of Nova Scotia is to cut its Harmonised Sales Tax
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
2025 – Many businesses taken out of the intra-community reporting requirement Bulgaria has raised the annual reporting thresholds for Intrastat for January 2025. Intrastat is EU-wide (usually) monthly reporting regime
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
2025 no change to EU – Northern Ireland Intrastat thresholds The UK’s HMRC has confirmed that there will be no change to the EU – Northern Ireland (NI) Intrastat reporting
VAT imposed on print and digital news The Argentinian Presidential office has confirmed on 21 October that supplies of print and digital versions of newspapers, magazines and similar publications and
Delayed VAT code modernisation 1 January 2025- improved credit refunds, extended deadlines backed by tougher fines approved Belgium has gazetted on 23 October delayed compliance reforms (initially planned for Jan
President confirms new 15% VAT on luxury items proposal A bill has been presented to the Nigerian National Assembly to impose a 15% VAT rate on luxury items. There has
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bill introducing 18% VAT on non-resident providers of e-services The Caribbean island state of Dominican Republic has withdrawn plans to implement VAT liabilities for foreign
VAT in the Digital Age 2.5 year delay to Platform Economy to win ECOFIN agreement 5th Nov 2024 Proposed launch of deemed supplier for ride & accommodation postponed to Jan
Details of 2026 B2B and B2G decentralised mandatory 5-corner model The Arab Gulf state of United Arab Emirates (UAE) Ministry of Finance and Federal Tax Authority has updated its guidance
2025 SME Special Scheme introduces pan-EU €100,000 registration threshold to reduce foreign VAT compliance burden From 1 January 2025, there will an optional €100,000 EU VAT registration threshold, enabling resident
Zero-VAT measure until April 2025 Lithuania is progressing a Bill to reclassify the supply of residential fuel and hot water from the 9% reduced rate to zero. The measure, not
Malaysian Ministry of Finance 2025 Budget Proposal On October 18, 2024, the Malaysian Ministry of Finance presented its 2025 Budget Speech, introducing several notable changes to the country’s tax regime
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
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
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