VAT - vatcalc.com

Single VAT registration in the EU – extending OSS to all cross-border B2C and certain B2B transactions

15 April 2022 in

Extension of OSS return – Single VAT registration in the EU – for cross-border B2C and B2B transactions as part of VAT in the Digital Age reforms The European Commission (EC) is set to publish draft VAT Directive amendments this autumn for the extension of

Indonesia imposes 11% on digital wallets and crypto assets May 2022

13 April 2022 in

Indonesia

Money transfer services via payment wallets do not enjoy Financial Services exemption. Also imposing VAT on crypto asset trading transactions Indonesia’s Finance Ministry has confirmed the financial tech companies offering digital wallet services will be subject to charging standard rated VAT. This will apply from

Suriname 12% VAT implementation July 2022 – update

12 April 2022 in

Suriname

12% Sales Tax being replaced with Value Added Tax on 1 July 2022 The South American state of Suriname’s Government Council passed the VAT Bill 2022 on 8 April 2022. This follows Parliament giving the go ahead for the implementation of a Value Added Tax regime

France election draws petrol and food VAT cut commitments on cost-of-living fears

10 April 2022 in

France

Narrowing polls push candidates on VAT cut promises as inflation soars past 5% As France goes to the polls today in the first-round of the Presidential elections, far-right opposition candidate, Marine Le Pen, has committed to a VAT rate cut on petrol and diesel from

Spanish White Book VAT and wider tax reforms

6 April 2022 in

Gig and sharing economies

White Book details over 100 reforms for Spanish VAT and other taxes The Spanish ‘Tax Committee’ of local tax specialists presented their recommendations to the Ministry of Finance. Their recommendations is known as the ‘White Book’. This includes a range of digital VAT reforms, many

Sri Lanka confirms temporary VAT hike on financial services to 18% 2022

28 March 2022 in

Financial Services

New tax hikes and levies on range of supplies confirmed by Parliament – 1 January 2022 implementation Update: Sri Lanka VAT raised to 12% from 1 June 2022 The drop in revenues during the COVID-19 crisis has forced the government to propose a range of

VAT in the Digital Age reforms public consultation launched

21 March 2022 in

European Commission call for evidence and public consultation on 3 reforms to EU VAT The European Commission is inviting feedback on three proposed reforms to improve the efficiency, fairness and tax collections of the 27-member state VAT regime : Separate reforms to OSS and IOSS were

Paraguay VAT and DST on foreign digital services

20 March 2022 in

digital services

Paraguay extended its Withholding VAT regime to non-resident digital or electronic services provider to consumers from 1 January 2021. It applies to both B2B and B2C transactions. In addition, a further 4.5% INR withholding tax (similar to Digital Services Tax) was introduced. The current VAT

Ghana VAT on foreign digital services – April 2022

16 March 2022 in

digital services

The West African country of Ghana imposed its Value Added Tax on non-resident providers of digital or electronic services to consumer 1 April 2022. The original VAT Act containing the obligation was passed in 2013, but the Ghana Revenue Authority did not have the resources

VAT in the Digital Age consultation deadline extended to 5 May 2022

11 March 2022 in

European Commission VAT reforms public consultation extended 20 days The EC has stretched out the public consultation deadline of its VAT in the Digital reforms from 15 April to 5 May 2022. The public call for evidence phased completed on 17 February. The consultation seeks

Tag: VAT