Major changes around the world in Value Added Tax and Goods and Services Tax If you want live updates on these issues, sign-up here for our free email newsletter.
2019 cut to 8% may have to be reversed as country faces worst economic crisis The drop in revenues during the COVID-19 crisis may force the government to reverse the
Supplementary support for transport and the press sector as war in Ukraine extends The Baltic state of Estonia and passed measures to reduces taxes to reflect the ongoing security position
Board of Taxation reveals AUD 760m revenues – more than four times budget following withdrawal of Low Value Imported Goods regime In July 2018, Australia scraped the LVIG Goods and
EU’s VAT Committee reviews VAT treatment on cryptocurrency payment tokens The European Commission’s VAT Committee is reviewing the Value Added Tax issues arising from cryptocurrencies such as bitcoin, Spice and utility
European countries compete to attract import business with reverse charge import VAT with no cash payments Most European Union member states offer cashflow assistance for importers of goods into their
The Court of Justice of the European Union rules Belgian regional legislator may demand home rental transaction data from Airbnb The ECJ has ruled Airbnb Ireland (C-674/2) must provide transaction-level
Taxpayer invoicing mandatory survey signals plans for e-invoicing The Kindgdom of Bahrain’s National Bureau for Revenue has launched survey to estimate the volumes and natures of VAT invoicing in the
Post-based paper invoice claims replaced by online VAT recovery for non-EU taxpayers Belgium is the latest EU member state to introduce an online application process for 13th Directive VAT reclaims
The Central Asia state of Kyrgyzstan is planning a roll out of fiscal cash registers this year. These machines for use by retail taxpayers automatically report all transactions to the
Most retailers must have adopted electronic Point-of-Sale machines for VAT reporting by 1 July 2022 Italy is enforcing the adoption of electronic cash registers which the capability to make automated
Following the UK leaving the EU Customs Union and VAT regime, it’s possible on temporary imports to reduce cash payments on custom and VAT Following Brexit, it is possible to
Mandatory Online Electronic Invoices for remaining VAT registered business extending to 1 July 2023 The remaining small taxpayers now already on the state FEL e-invoicing platform have been given a
Inflation hits 26-year high at 6.8% in March 2022 Peru’s Congress has zero-rated the sale and import of a range of foodstuffs as inflation hits some of the highest levels
Switzerland is to hold a referendum on 15 May to introduce a 4% levy on providers of digital streaming services such as Amazon, Disney and Netflix. This is expected to
European Commission seeks to harmonise digital Continuous Transaction Controls ‘CTC’ options for VAT e-invoice and real-time reporting The European Commission (EC) is undertaking a review to introduce harmonised Digital Reporting Requirements
Over 500,000 business receive CNY 420 billion (approx €700bn) to boost COVID-hit economy The accelerated release of credits to small businesses and larger corporations in certain sectors is giving large
Harmonisation of VAT on electronic and paper-based books and periodicals Moldova has followed the example of the EU, and synchronised the Value Added Tax rate on electronic books and periodicals
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