Thailand has become the latest country to impose Value Added Tax on non-resident providers and electronic marketplaces of digital or electronic services from 1 September 2021. This includes a VAT registration threshold of THB 1.8million annum (approx. €46,000), after which sellers should register with the
The Vietnamese Ministry of Finance has announced a range of fiscal measures to support the economy as the coronavirus pandemic continues. This includes a 30% reduction in the 10% standard rate to 7% for income from certain sectors most affected, including: tourism; public transport; hotel
Portugal has further delayed monthly and quarterly VAT returns in recognition of the COVID-19 health and economic crisis. The changes to returns’ filing deadlines covering transactions in July to October 2021 are as follows: July return – due 25th September (instead of 20th) August return
The Fijian budget for 2020/21 includes a number of Value Added Tax measures. These changes will come into effect on 1 August 2020. These include: Withdrawal of the 6% services Turnover Tax Due to the ongoing COVID-19 crisis, the new Monitoring System has been delayed
Poland is set to implement a range of compliance simplifications as part of its simple, local and modern (‘SLIM’) VAT initiative. Poland’s SLIM VAT phase 1 was introduced at the start of 2021. SLIM VAT systems were conceived for developing countries seeking to implement or
Portugal has confirmed further delays to Value Added Tax deadlines in recognition of the continued disruption from the COVID-19 health and economic crisis. The usual annual 2020 VAT return (IES) has been delayed until 22 July 2021. Ordinarily, it would have been due by 15
UPDATE: 19 August 2021: this measure has been suspended due to the ongoing effects of the COVID-19 pandemic. The Philippines has introduced from 27 June 2021 a new 12% Value Added Tax (VAT) on certain exports. Previously, exports on the affected transactions were zero-rated with
Italy has extended the June payment deadline of VAT liabilities until 20 July 2021. The original deadline was 30 June 2021. Most VAT payers in Italy report quarterly. But payments for VAT should be made monthly. In addition to Value Added Tax obligations, the delays has
Turkey has increased its withholding VAT threshold from TRY1,000 to TRY2,000 per invoice. This came into effect from 3 June 2021 when the change was ‘gazetted’. The regime applies on payments for supplies of goods or services payable to non-residents. Like regular income withholding taxes,
Increase in Value Added Tax annual registraton threshold The east African state of Malawi has published its 2021/22 budget which includes a number of Value Added Tax changes. They are effective 1 July 2021. These include The VAT registration threshold is to rise to MWK
