Major global Value Added Tax and Goods and Services Tax changes from 1 September 2022 To get free regular e-mail alerts on global VAT or GST changes, sign-up to our newsletter Or check global VAT rates in over 300 jurisdictions here
Electronic invoicing for all taxpayers since 2021 The Direction Générale des Impôts requires all taxpayers to use the Le Système électronique certifié de invoicing (SECeF) since 2021. E-invoicing is administered by the DGI – Direction Générale des Impôts -DGI. Reporting invoices is done via a
Debt and inflation crisis means full reversal of 2019 VAT cuts Sri Lanka is racing Value Added Tax rate for this second time this year. From 1 September 2022, it will rise from 12% to 15%. On 1 June is rose from 8% to 12%.
VAT launch rate likely to be lowered to 10% from 15% on inflation fears The South American state of Suriname’s National Assembly is now reviewing a Bill to introduce VAT on 1 January 2023 at 10%. The plans were last scheduled for June 2022 at 12%,
Temporary VAT cut to 9.5% bill on domestic energy and electricity Slovenia’s National Assembly has confirmed a VAT rate cut on gas bills from the standard VAT rate 22% to the reduced rate of 9.5%. The temporary reduction will be in place between 1 September
Inflation spike hits 22%; prompts bill to lower taxes on domestic heating to 5% The Lithuanian Parliament has returned to a February proposal to reduce the VAT rate on domestic heating from 21% to 5%. This would be imposed on natural gas and liquefied petroleum
Value Added Tax to replace 15% Sales Tax The West African country of Guinea-Bissau is set to introduce a Value Added Tax regime from January 2023. This would replace the existing 15% Sales Tax, Imposto Geral Sobre Vendas e Serviços. There will be a VAT
Global inflation concerns pushes introduction of VAT back further year; 1% turnover tax rise in meantime The Dutch Caribbean dependency has delayed the introduction of VAT a further year to 1 January 2024. The latest postponement was announced based on global inflation worries and the
Reduced VAT rate on foods; rise for ‘luxury’ goods The Bosnian assembly of Republika Srpska has approved a reduction on basic foodstuffs from the reduced VAT rate of 17% to 5%. At the same time, a range of ‘luxury’ goods in the 17% band will
Third extension of gas VAT cuts until 31 December 2022 as inflation hits 7.9% in July 2022 Italy has extended for the forth time the temporary cut in Value Added Tax rate on domestic and industrial use gas until the year end. Italian inflation has
