Implementation to align with EU rules on taxation in location of consumption The Balkan state of Montenegro has imposed Value Added Tax on non-resident providers of digital services. It obliges foreign providers to register, collect and remit 17% VAT to the Indirect Taxation Authority. Check
Stubborn government deficits pushing increases and consolidation in reduced rates A string of EU member countries are turning to reduced VAT rate rises to help plug spending gaps. Slow growth in economies adds to Euro-currency rule requirements of limiting deficits. A number of EU states
Business VAT Act changes: streamline tax reporting; e-invoicing deadlines; fines; VAT deductions; VAT lottery A number of changes have been made to the Taiwanese VAT Act last month. These include: mandatory transmission of GUI e-invoices and related data to the state’s e-invoice platform within a
Coalition agreement includes €2.1 billion VAT and excise rises The pending Belgian government coalition agreement includes VAT and customs rate rises adding up to €2.1 billion. This would fill Belgium’s large budget deficit, which was 4.4 percent of GDP in 2023 — far above the
Which EU states have applied and obtained an e-invoicing derogation Under current European Union VAT Directive rules, member states may not mandate the use of electronic invoices in place of paper invoices. However, they may apply to the European Commission for a temporary derogation from
VAT rules updates as country readies for EU membership The east European state of Montenegro is continuing to harmonise its Value Added Tax regime with that of the European Union. This is part of its longterm accession negotiations which include the obligation to adopt the
Ending Covid-related reduced VAT rate cuts from 1 January 2025 The Baltic state of Estonia is to unwind two reduced VAT rate cuts from 2022. The two reduced rate changes are: accommodation services and accommodation services with breakfast will be reclassified from the 9% reduced
Compliance simplification: Ending forms Ba and Bs reports on sales and purchase transactions Turkey’s Revenue Administration has announced a significant regulatory change regarding tax reporting requirements for businesses. A draft communiqué has been prepared, which proposes terminating the requirement for taxpayers to submit Notification on
Harmonise sales tax rate rules for sellers shipping goods from outside Illinois The Illinois Governor has signed into January 2025 law changes to the sales tax sourcing regime for out-of-state sellers. This will make it fairer by using the same tax base for local and
Prime Minister won’t follow other Baltic states with VAT increase to fund military Latvia’s Prime Minister, Evika Silina, has quashed speculation by here Finance Minister of a 1% VAT increase to 22%. But further tax rises will have to be found as security spend rises
