VAT launch rate likely to be lowered to 10% from 15% on inflation fears The South American state of Suriname’s National Assembly is now reviewing a Bill to introduce VAT on 1 January 2023 at 10%. The plans were last scheduled for June 2022 at 12%,
B2B reverse charge option withdrawn for foreign providers of digital services The VAT Digital Marketplace Supply Regulations, which governs the rules for non-resident providers and marketplaces to charge Kenyan VAT, have been updated with a number of changes, including: Withdrawal of the reverse charge for
Global inflation concerns pushes introduction of VAT back further year; 1% turnover tax rise in meantime The Dutch Caribbean dependency has delayed the introduction of VAT a further year to 1 January 2024. The latest postponement was announced based on global inflation worries and the
Draft Bill to impose 12% VAT on nonresident digital or electronic service providers and marketplace platforms approved by House committee The Philippines House of Representatives Ways and Means board approved today, 17 August, a bill that would impose VAT on foreign providers of digital and
171 countries have implemented VAT or GST at 1 July 2022 as Anguilla adopts GST Since the first introduction of a Value Added Tax in France in 1954, it has now been adopted by 171 countries around the world. This follows Anguilla’s adoption of a
Small businesses must adopt government Simples Nacional e-invoicing from 1 January 2023 Micro businesses using the consolidated tax Simples Nacional regime must use centralised portal (CGSN Resolution No. 169 of July 27, 2022). Simples Nacional enables a single reporting for a host of Brazilian taxes,
Threshold on electronic reporting of e-invoices cut to KRW 100m from 1 July 2023 South Korea’s near real-time e-invoicing regime will be made mandatory for a larger group of companies as it cuts the reporting annual sales threshold from KRW 200m to KRW 100m (approx.
18% VAT and 2% income tax on electronic services extended to foreign providers from July 2022 Tanzania has this month, July 2022, extended VAT charging obligations to providers and facilitating marketplaces for digital services to local consumers. This also includes potential 2% income tax liabilities.
Foreign providers of electronic services given VAT registration threshold Kenya has introduced a VAT registration threshold for non-resident providers of digital services to Kenyan consumers. This is KES 5 million (approx €41,700) per annum of turnover. This is the same level as for resident business.
