1-year inflation standard VAT rate cut ends 1 January 2024 Luxembourg’s 1% temporary VAT cut for 2023 ends from 1 January 2024. The 2024 rate will be: Standard rate: 17% (up from 16%) Intermediate Reduced rate: 14% (up from 13%) on certain financial services; Reduced
Inland Revenue investigating direct VAT payments to combat fraud Sri Lanka’s tax authority, the Inland Revenue Department, has confirmed to the Committee on Pubic Accounts that it is considering enforcing split VAT payments. This would require consumer payments for taxable transactions to pay the VAT
B2B Computer chips, mobile phones, laptops and precious metals put under Article 199 may provision Luxembourg is to adopt the VAT reverse charge on the small of a range of small, high-valued goods prone to VAT fraud. The option under Article 194 of the VAT
Further 3% rise in standard rate following 2022 increase to 15% Sri Lanka’s cabinet has approved a 3% VAT rise from 15% to 18%. This will come into effect from 1 January 2024. This increase is to help ensure government reaches revenue targets and secures
Government to scrap most 5% reduced rate, moving most supplies to the standard 19% rate from 1 January 2024 The Romanian parliament has published a Bill reclassifying restaurant, catering and cultural (theatre; cinema) services from the reduced rate of 9% to the standard VAT rate
July 2024 changes to VAT return with mandatory KSeF e-invoicing Poland is due to mandate B2B KSeF e-invoicing from 1 July 2024. The Ministry of Finance plans to modify the logic structure of SAF-T VAT (JPK_VAT) return to enable efficient data analysis and interoperability. The
B2B domestic electronic invoicing to reduce fraud and compliance obligations – January 2026 Croatia is the latest country to announce the role out of mandatory Mandatory structured e-invoicing between VAT registered businesses, supported by the government’s e-Račun platform. In September 2023, the Croatian government requested
30 October 2023 – Mobile phones, tablets etc subject to anti VAT fraud measure The United Arab Emirates has imposed the use of the VAT reverse charge on the domestic B2B sales of a range of electronic devices. The obligation for the supplier to not
Oct 2023 launch of electronic e-invoicing regime The west African country of Mauritania’s Minister of Finance has published regulations for the introduction of e-invoicing. This would be a phased introduction of live VAT invoice reporting. Mauritania is proposing a pre-clearance regime, with invoices having to
15% GST on digital services to consumers Sierra Leone has imposed its Goods & Services Tax on digital or electronic services (and goods) sales to consumers since 2021. This covers any supplies via electronic platforms and the commissions received by the platform owners. But there
