1 March 2% rise in Service Tax Malaysia raised its Service Tax rate from 6% to 8% on 1 March 2024. However, some services remained at the old 6% rate. The separate Sales Tax on most goods rate remains at 10%. Rise implementation guidance The
General Sales Tax non-resident compliance portal launched Foreign providers of digital services to Jordanian consumers should now use a special online compliance portal for General Sales Tax (GST) reporting. Launched at the start of 2024, it provides easy GST registration and ongoing compliance for non-resident
Non-EU taxpayers must provide financial guarantee The Italian VAT law has been updated to require non-EU established businesses with a non-resident VAT number to provide a financial guarantee to the tax authorities if they are performing intra-community supplies from/to Italy. Fiscal representative will themselves have
VAT registration threshold rise and other changes The Vietnamese Ministry of Finance has released for public consultation a range of VAT changes. Once reviewed, these will pass to the National Assembly for approval. The changes include: Rise in the VAT registration threshold to VND 150m
New tax code reduces VAT to 14% from 15% 2024; further cut to 13% in 2027 In 2021, Tajik Finance Ministry passed a new Tax Code which will reduce the Value Added Tax rate by 5% in the following 3 steps: 1 January 2022: 18%
Decrease from 18% 1 January 2024 The 2024 budget has cut the standard Value Added Tax rate from 18% to 17.5% from 1 January 2024. The reduced VAT rates remain unchanged: 9% rate on local products: sugar, oil, soap, textiles and iron and handicraft and
Music streaming services subject to 1.2% turnover tax Jan 2024 France has imposed a streaming media levy of 1.2% from 1 January 2024. This is down from the proposed 1.75%. The new levy is expected to raise €15 million per annum, allowing for an annual
As global inflation drops, countries return to indirect tax rises Following two years of inflation VAT cuts, jurisdictions around the world are returning to VAT rises. The reverses a trend plotted by the OECD VAT survey, which reflected governments using VAT cuts to prop-up their
Tax reforms to meet IMF loan requirements Ukraine’s Cabinet on 27 December approved a 5% Value Added Tax rate cut from 20% to 15%. The reduction is part of a package of tax reforms agreed with the IMF for loan support following the illegal Russian
Government confirms 2% rise in VAT rate The Caribbean islands state of Antigua and Barnuda has indicated that it may have to increase its Sales Tax (ABST) by 2% to 17%. This would be to fund public employee salaries. In addition to the current standard
