Swedish hospitality VAT rule changes
The Swedish tax office has issued a number of changes to the right to deduct hospitality VAT based on European Union rules. These include: The upper limit of VAT deductions per corporate hospitality...
View ArticleItaly drops VAT rates on rice products
The Italian VAT authorities have clarified that the super reduced VAT rate of 4% will apply to rice-based products. This new Resolution allows for prepared foods, cereals, pre-cooked dishes etc., based...
View ArticleCzech domestic VAT transactions filing from 2016
Czech VAT registered businesses will be required from 1 January 2016 to file a new return detailing all taxable transactions with other Czech registered businesses. This is similar to Intrastat...
View ArticleRomania cuts VAT to 20% in 2016
Romania has committed to reduce its standard VAT rate from 24% to 20% in 2016. The Romanian VAT rate was originally raised from 19% to 24% at the height of the financial and Euro crises in 2010. There...
View ArticleItaly VAT reclaim guarantee updates
The Italian tax office has provided new guidance on the Simplification Decree which changed the rules on Italian VAT reclaims. The new guidance details the following changes: VAT reclaims below €15,000...
View ArticleMauritius VAT changes
The Mauritius VAT compliance regime is changing following this week’s 2015/16 budget. Then changes include: The VAT registration threshold is to rise to MUR6 million per annum VAT exemptions for plant...
View ArticleGulf States move closer to VAT implementation
The member states of the Gulf Cooperation Council (GCC), which includes the United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, have concluded a general framework for the...
View ArticleItaly to challenge EU on ebook reduced VAT rate
The draft Italian 2016 budget contains a proposal to reduce the VAT rate on e-books from 22% to 4%, in line with the reduced VAT rate enjoyed by printed books. The move would put the country in...
View ArticleAzerbaijan raises VAT registration threshold 2016
The Azerbaijan VAT registration threshold is to rise on 1 January 2016 from AZN 120,000 to AZN 200,000 per annum. The Azerbaijani VAT rate remains at 18%. The post Azerbaijan raises VAT...
View ArticleEgypt VAT exemptions
As Egypt prepares to introduce VAT following the approval of a revised Bill by the Cabinet last week, the tax authorities have clarified some of the supplies which will enjoy a nil rate or exemption....
View ArticleEgypt VAT launch Sept 2016
The Egyptian Finance Minister has declared that a full VAT regime will be launched in the autumn. The announcement came as Egypt plans a $3 billion bond to cover its deficit. The implementation of VAT,...
View ArticleUAE VAT 2018
The United Arab Emirates (UAE) has proposed implementing Value Added Tax from 1 January 2018. A new tax office, the Federal Tax Authority, has been established by Federal Law 13 of 24 October 2016....
View ArticleRomania cuts VAT to 19% 2017
Romania is still on course to reduce its VAT rate from 20% to 19% from 1 January 2017. This rate cut follows the 2016 reduction from 24% to 20%. Romania originally hiked VAT from 19% to 24% in 2010 at...
View ArticleUK challenges EU e-commerce VAT
A UK VAT case is making progress towards potentially relieving some e-commerce sellers of their foreign VAT registration and returns burden. Separating online selling from the delivery service...
View ArticleIndia 15% Service Tax on foreign e-services
India is to impose 15% Service Tax on electronic services sold to Indian consumers by non-resident providers from 1 December 2016. Currently, only resident providers of such digital service are liable...
View ArticleHungary: top EU VAT rate funds lowest Corp tax rate
Hungary has proposed lowering its corporate tax rate to 9%, which would be the lowest in the European Union. This investment-attracting policy is partially funded by Hungary’s VAT rate of 27% – the...
View ArticleItaly reverse bad debt rule
Italy is to reverse bad debt relief on insolvent debts. In 2016, the Stability Law introduced VAT relief via credit notes on output VAT not collected due to suppliers going bankrupt. The tax...
View ArticleZambia VAT update
The 2017 Budget includes a number of proposed changes to the Zambian VAT rules. These include: Abolishment of the group VAT scheme Restrictions on the right to deduct input VAT on certain...
View ArticleIndia GST negotiation battles
In the run-up to the 2017 implementation of a Goods and Services Tax in India, the Centre government and States continue to fail to conclude key administrative terms. Currently, negotiations has...
View ArticleUK curbs VAT Flat Rate Scheme
The UK has announced today that it will curb the use of the Flat Rate Scheme (FRS) to limit potential exploitation. FRS enables very small businesses to only charge a reduced VAT rate (compared to the...
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