18-month VAT implementation completes
The French Pacific territory of New Caledonia has completed the implementation of its local version of Value Added Tax – taxe générale à la consommation, TGC.
The consumption tax was first introduced in April 2017 with a phased roll out of rates which completed on 1 October 2018. The new rates are:
| 11% | Standard Rate | Taxe Générale à la Consommation TGC since 2016 |
| 22% | Higher Rate | Imported alcohol, sugary drinks, tobacco, vehicles |
| 6% | Reduced Rate | Local services |
| 3% | Reduced Rate | Local production, basic foodstuffs; cinema |
| 0% | Exempt | Gambling; financial services; education; social; medical; books and newspapers; exports; basic foodstuffs |
| 1% | Solidarity Tax | On personal services |
You can review over 220 country global VAT and GST rates in our free searchable database. Register for our FREE global VAT and GST news updates.
How VAT Calc saves your business money and time
| The world's only single application for VAT calculation AND filing for all businesses | |
| 1. An end to costly and protracted implementations - ready to go for any business | Traditional VAT engines require a lot of manual custom rules to be created for you by tax consultants to cover the detail in the determination for your specific business model. This means months and years of frustrating and costly implementation. VAT Calc is built on the country tax laws, EU VAT Directives and global OCED guidance and so it requires only the data from the transaction to make a full and accurate calculation. This means huge time savings, reduced risk of human error and the end to expensive support and dependancy on designing and maintaining custom rules. We already have all the complexity of any use case ready-to-go out of the box: triangulation; 2021 EU ecommerce reforms; gig & sharing economy taxes; customs and warehouse exemptions and the rest of your wish list. |
| 2. Cut in-house tax research or expensive external advice | Our Calculator tool is built on all of the global tax laws - which you can modify without outside support - so every business transaction – B2B, B2C, goods or services - is already covered. You can simply modify them without IT support to your business model. |
| 3. Save on the VAT or GST returns process with world's only single calculation and returns platform | Since our VAT Calculator determination service is on the same application platform as our VAT Filer service there is no requirement for yet another system purchase, implementation and outside support. In VAT Calc invoices calculated by the Calculator can automatically post to the relevant boxes on all applicable returns in our Filer service. |
| 4. Transparent business and audit tax defence | Full details on calculations via our unique local country and EU Directive legal citation - detailing transaction type, country of taxation, exemption and any VAT registration obligations - for every transaction. Whether debating with your customers, suppliers or the tax authorities on the right invoice or return outcome, you won’t be paying too much tax anymore. |
| 5. Save staff time on Accounts Payable invoice checks | With VAT being applied by the AR or AP clerk, the in-house VAT time must spend huge amounts of their time checking the invoice’s accuracy retrospectively to avoid mis-declaration. VAT Calc returns the correct VAT treatment in real-time as the invoice is booked, freeing up the VAT team during busy filing cycles and for more strategy projects. |
| 6. Consolidate and reduce cost for multiple accounting and tax teams and business divisions | Attempting to keep track and manage VAT or GST internationally is hugely expensive and leaves the business vulnerable to errors, audits and fines. VAT Calculator enables you to centrally set the tax rules, policies and freedoms for otherwise disparate and siloed businesses within your group, and helps support remote staff with live tax automation |
| 7. Instantly spot and correct errors | Backed by VAT Calculator’s extensive automatic VAT checks, which highlight missing details which may mean an incorrect tax calculation. You can live edit these, based on VAT Calculator’s proposals from the source legislation, and ensure business processes aren’t interrupted and time lost. |
