Ghana is proposing an additional 1% addition to its existing Value Added Tax rate to help manage the worsening COVID-19 government deficit. This new “Health Levy” will help with expenditure on vaccinations, health facilities and related emergency spend. It is scheduled to come into effect
COVID-19 hospitality VAT rate cut tapering extension The UK has extended the temporary Value Added Tax rate cut to 5% on hospitality and tourism until 30 September 2021. It will then rise to 12.5% until 30 April 2022. From 1 May 2022, it will return
The UK’s HMRC is set to go ahead with Phase 2 of Making Tax Digital for VAT on 1 April 2021. This will require UK VAT registered businesses over the UK VAT registration threshold of £85,000 to comply with three new requirements: Digital Bookkeeping; Digital
On the 11 March 2021, the ECJ ruled Danske Bank A/S, Danmark, Sverige Filial v. Sweden. The Dansk ECJ ruling confirmed that a Swedish branch of a Danish Bank, Danske, was a separate VAT body. This was because the Danish headquarters had opted to form a
On 11 March, Michael Gove, minister for the Cabinet Office, announced a further six-month extension on import declarations completions and border checks until 1 January 2022. This acknowledges the struggles of UK and EU businesses to come to terms with the new, post-Brexit customs paperwork
Update; The India e-invoice threshold was lowered to 20 Core 1 April 2022. The Indian Central Board of Indirect Taxes and Customs has lowered the annual sales threshold for mandatory GST e-invoices. Check VAT Calc’s global live VAT invoice transaction and e-invoice reporting tracker to see where else
Slovakia and Poland have signed an automatic exchange of VAT data agreement. The agreement will facilitate transfer of transactional-level data to help both countries detect cross-border VAT fraud. Poland already has similar arrangements with German, Czech, Hungary and Lithuania. The agreement will come into effect
Updates listing of countries where taxpayers will not require special VAT agent for French VAT registrations France has published its list of countries where businesses without a French fixed establishment but with a French VAT registration are not required to appoint a French Fiscal Representative.
The Brazilian Supreme Court has blocked the levying of state VAT on licensing, electronic transfer or downloading software. ICMS (Imposto sobre a Circulação de Mercadorias e Prestação de Serviços de Transporte Interestadual e Intermunicipal e de Comunicação) is one of the range of VAT-like taxes.
The EU’s European Commission has launched its latest public consultation on ending banking, insurance and other financial services’ exemption from VAT. In particular taxing fee-based services as opposed to interest-based (loan interest, credit etc). It last attempted to bring financial services into the VAT net
