Estonia raises VAT registration threshold
The European Union has given Estonia approval to increase its VAT registration threshold from €16,000 to €40,000 per annum. This approval permits Estonia to deviate from articles 281 to 294 EU VAT...
View ArticleCanada Saskatchewan raises PST to 6%
The Canadian province of Saskatchewan is to raise its Provincial Sales Tax from 5% to 6%. PST is added to the federal Goods and Services Tax of 5% to levy a total of 11% combined indirect tax on most...
View ArticleAvalara VAT Reporting content updates 31-03-2017
Poland: It’s now possible to create a Correction VAT Book Slovakia: We have changed the way we handle boxes that are recalculated on the VAT Return form. We now allow the possibility to correct small...
View ArticleIndia GST launch advances
The lower house of the Indian parliament (Lok Sabha) has approved this week 4 key bills for the implementation of a new Goods and Services Tax on 1 July. The bills include: The Central GST Bill The...
View ArticleJapan exempts bitcoin from Consumption Tax
The Japanese government has approved the exemption of digital currencies, such as bitcoin, from Consumption Tax. The boost for virtual currencies reflects similar changes in the EU and many on other...
View ArticleFrance VAT fiscal representative
France has updated the list of non-EU countries whose businesses are required to appoint a French fiscal representative if they are French VAT registered. Argentina has been added to the list – meaning...
View ArticleIceland VAT rate to 22.5% 2019
The Icelandic government is planning to reduce its standard VAT rate from 24% to 22.5% from 1 January 2019. The announcement came as part of the 2018 to 2022 fiscal budget plan. Iceland had raised its...
View ArticleAlbania cuts tourism VAT rate
Albania has cut its VAT rate on tourism from the standard rate of 20% to the 6% reduced rate. Most countries in Europe operate reduced VAT rates for tourism-related services, including hotel...
View ArticleNigeria 15% Luxury VAT
Nigeria has proposed the introduction of new luxury goods VAT rate of 15%. The standard VAT rate is 5%. If approved, the new rate would be implemented from 2018. Goods targeted will include champagne...
View ArticleBulgaria VAT changes
The Bulgarian VAT Act has been updated from 21 March 2017 for several changes. These include: The calculation for the proportion of input VAT suffered on business assets which may be deducted by tax...
View ArticleBrexit – UK VAT and tax opportunities
Coverage of Brexit has been dominated by concerns of the negatives and uncertainties facing the UK economy. This has been compounded in recent weeks by the likelihood of a hard Brexit, with UK...
View ArticleItaly extends VAT split payments
Italy has been granted approval by the European Commission to continue the use of anti VAT fraud split payments regime with state organisations, and to extend the measures to state-owned companies and...
View ArticleOECD International VAT/GST Guidelines
The OECD VAT/GST Guidelines received further ensorsement this week at the 4th OECD Global Forum on VAT. The guidelines provide a comprehensive framework of standards and principles for countries around...
View ArticleAvalara VAT Reporting content updates 12-04-2017
This release is a patch to our latest maintenance release of the VAT Reporting application for this month; it is required for customers who have Quarterly filing obligation in Italy. Italy Quarterly...
View ArticleIndia GST July launch doubts
The current launch date of 1 July for Indian Goods and Services Tax is looking increasingly at risk. The risk of a delay till 1 September is now being publicly discussed. Approved GST legislation leave...
View ArticleArgentina exempts foreigners from hotel VAT
Argentina has exempted non-resident visitors from VAT on hotel and related accommodation services. This tax subsidy is extended to breakfast services provided as part of any overnight stays. The VAT...
View ArticleBulgaria VAT update
Bulgaria has updated its VAT Act, including the following changes: New rules on apply VAT credits on partial use assets The VAT treatment of prepaid telephone cards is to be harmonised with regular...
View ArticleAustralia marketplaces question new GST rules
As Australia prepares for the July 2017 imposition of 10% GST on consumer purchases below AUS$1,000 from foreign e-retailers, a number of major marketplaces have raised concerns about the new regime....
View ArticleGulf zero-rated VAT supplies
The six members of the Gulf Cooperation Council have confirmed the supplies which will be zero-rated for VAT purposes. This means they will be charged without VAT, but suppliers can reclaim any input...
View ArticleUK 35,000+ micro-businesses drawn into Brexit EU VAT net
An estimated 35,755* UK micro-business selling over the internet face being drawn into the EU VAT net for the first-time following Brexit. Costs to meet this new requirement could reach €216,000pa. UK...
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