Raised thresholds for declarations for EU intra-community dispatches and arrivals to Hungary Hungary has raised its Intrastat reporting thresholds to the following levels from 1 January 2024: Arrivals HUF 270m (approx €705k) from HUF 250m in 2023 ; and Dispatches HUF150m (approx €390k) from HUF 140m
New tax code reduces VAT to 14% from 15% 2024; further cut to 13% in 2025 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%
Increase arrivals threshold to report movements of goods with other EU member states Slovenia has raised the annual reporting thresholds for Intrastat arrivals and dispatches. This covers the movement into and out of Slovenia to other EU countries. The thresholds will change from 2023 as
Delayed: B2B e-invoicing with e-way bill issuance requirement On 11 January 2024, the National Informatics Centre confirmed postponing plans to require e-invoicing-mandated taxpayers to generate e-way bills with e-invoice details. The plan was to start the obligation from 1 March 2024. E-way with e-invoice checks
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
AI adopted on more interpretative elements of GST law sparks huge uplift in Show-Cause Notices Indian Goods & Services Tax registered businesses from the shipping, gaming, insurance and airline sectors have been flagging to the Ministry of Finance a sudden rise in Show-Cause Notices (SCN).
