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India scraps 2% equalisation levy on foreign digital services

1 August 2024 in

digital services

1st Aug 2024: Budget removes contentious tax on non-resident providers of digital services The latest Indian budget has confirmed the scrapping of the 2% equalisation levy on digital companies, online education-providing firms, and software-as-a-service (SaaS) providers without a permanent physical presence in India. This is

India 2024-25 Union Budget GST measures

29 July 2024 in

India’s Union Budget includes Goods and Services Tax rate changes and simplifications India’s Finance Minister, Nirmala Sitharaman, published the 2024 – 25 budget on 25th July. Aside from a range of GST simplifications, it also included wider administrative changes for the Finance Bill 2024. India

New Zealand hits gig & sharing economies platforms with 15% GST April 2024

1 April 2024 in

digital platforms

Imposition on digital platforms Goods & Services Tax 1 April 2024 on ride and accommodation sharing New Zealand has imposed on gig & sharing economies platforms GST collections obligations from 1 April 2024. This shifts the indirect tax requirements from the accommodation and transportation service providers

What is a tax engine for VAT / GST determination? Why VAT Calculator is the best in the market

21 February 2024 in

Goods and Services Tax

Tax Engines are essential as tax authorities move to e-invoicing & live reporting. And they no longer need to be expensive or excruciating to implement A ‘tax engine’ is a specialist software application used to calculate the correct VAT, GST or sales tax on a

Sri Lanka hikes VAT to 18% Jan 2024

31 October 2023 in

Financial Services

Further 3% rise in standard rate following 2022 increase to 15% Sri Lanka’s cabinet has approved a 3% VAT rise from 15% to 18%. This will come into effect from 1 January 2024. This increase is to help ensure government reaches revenue targets and secures

Jersey foreign e-commerce and marketplaces GST July 2023

31 May 2023 in

e-commerce

Online sellers and electronic interfaces to charge GST once over registration threshold from 1 July 2023 The Channel Islands territory of Jersey will impose Goods and Services Tax collections and reporting obligations on non-resident e-commerce sellers from 1 July 2023. There will be a compulsory

India B2B e-invoicing: 7-day e-invoice deadline delay to 1 August 2023

7 April 2023 in

e-invoice

GST Network delays 7-day e-invoice upload deadline from May to August 2023 The GST Network (GSTN) has postponed by three months a new seven day deadline for e-invoice uploads o the Invoice Registration Portal (IRP). Instead of 1 May, this obligation will now come into

Australia GST on digital services by non-residents

10 March 2023 in

Australia

Australia extended its 10% Goods and Services Tax (GST) to electronic or digital services provided by foreign sellers or marketplaces from 1 July 2017. This includes marketplaces becoming the deemed supplier – Electronic Distribution Platforms EDPs . There is GST registration threshold for non-resident providers of

Argentina e-commerce gig & sharing marketplace VAT deemed supplier – 2023

9 February 2023 in

Argentina

April 2023 – digital e-commerce, gig & sharing marketplace take on full VAT liability for smaller traders. The Argentina Federal Tax Authority is to oblige marketplace to ensure their users are correctly charging and collecting VAT. This covers both goods and services, including the gig

Vietnam imposes marketplace VAT transaction reporting

9 February 2023 in

exchange of data

Quarterly user transaction reporting to help detect VAT fraud Vietnam has joined many countries around the world in requiring digital marketplaces / platforms to provide the tax authorities with detailed reporting on their sellers or users transactions. Marketplace operators must now provide the following levels

Tag: GST

India scraps 2% equalisation levy on foreign digital services

India 2024-25 Union Budget GST measures

What is a tax engine for VAT / GST determination? Why VAT Calculator is the best in the market

Sri Lanka hikes VAT to 18% Jan 2024

Jersey foreign e-commerce and marketplaces GST July 2023

India B2B e-invoicing: 7-day e-invoice deadline delay to 1 August 2023

Australia GST on digital services by non-residents

Vietnam imposes marketplace VAT transaction reporting

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