Germany increases threshold for mandatory VAT registration The annual registration threshold for mandatory Value Added Tax rose on the 1 January 2025 as follows: 2024: if previous year turnover was €22,000 and current year is forecast to exceed €50,000; to 2025: if previous year turnover
Updates in VAT registration threshold, deductions and penalties The Israeli Tax Authority updated VAT invoicing, reporting thresholds, and penalties from 1 January 2025. There was also an Israeli 1% VAT rise. In Israel, VAT registration is mandatory for businesses with annual turnover exceeding NIS 120,000
Govt backtracks on restaurant supplies moving to 15% standard rate The Bangladeshi National Board of Revenue (NBR) on 17 January has excluded restaurant services from the move from the 5% reduced rates to the standard 15% rate. The change comes following heavy lobbying by the
Temporary VAT rate cut and other updates on VAT rules Algeria is temporarily cutting VAT on tourism services from 19% to the reduced rate of 9%. The rate will only apply until 31 December 2027. Other changes effected in the 2025 Finance Law include: Modification
India 55th Goods & Services Tax Council Meeting Summary of Recommendations The 55th GST Council – which oversees operations and reforms of the indirect tax – convened in Jaisalmer, Rajasthan, on December 21, 2024, under the chairpersonship of Union Finance Minister Smt. Nirmala Sitharaman. The meeting
Law on Value Added Tax introduces changes to rate 1st July 2025 The revised VAT regulations in Vietnam introduce comprehensive updates to zero-rated supplies, reduced-rate supplies, and non-eligible supplies, aiming to streamline tax processes and support specific sectors. Zero-Rated Supplies The updated list includes goods
1 January 2025 state extends tax net to digital goods and services Louisiana’s House Bill 8, effective 1 January 2025, expands sales tax to include previously untaxed digital goods and services. The current state-level tax is 4.45%. Louisiana is raising its sales tax rate to
Draft 2025 Finance Bill includes e-invoicing to tackle fraud The Directorate General of Taxes and Domains (DGID) of West African country of Senegal is gearing-up for the introduction of mandatory electronic invoicing for all commercial transactions. The measure is included within the 2025 Finance Bill.
Switch from source to destination VAT; rise in tourism rate The Indian Ocean archipelago state of Maldives is switch the basis for determining where Goods and Services Tax (GST) is due and rising the tourism rate on 1 July 2025. Switching to Destination Principle GST
