COVID-19 crisis forces tax hike The African state of Botswana has been forced into a Value Added Tax rate rise from 12% to 14%. The measure is to shore up revenues following the COVID-19 crisis which has affected its tourism and mining sectors. There will
Peru has yet to impost its Value Added Tax on digital or electronic services provided by non-resident sellers or marketplaces. B2B domestic supplies of e-services are already liable to VAT. B2B supplies from abroad to resident businesses may be zero-rated under the reverse charge mechanism.
Spain has extended draft VAT return preparation to all taxpayers from February 2021. The scheme, Pre303, is named after the existing quarterly self-assessment VAT return. Pre303 was introduced in 2020 for any large taxpayer – above €6million turnover. It was populated via the Spanish SII (Immediate
Angola has extended its Value Added Tax regime on 1 January 2020. The 14% regime was implemented on 1 October 2019 for large tax payers. VAT replaced the 10% Turnover Tax. The current VAT rate in Angola is 14%. Basic foodstuffs are nil-rated. Financial services,
Following the end of the Brexit transition period from 1 January 2021, the UK has left the EU Customs Union. This means goods movements are subject to preferential tariffs subject to the conditions of the Trade and Cooperation Agreement terms signed on 24 December 2020.
The Baltic state of Latvia has moved the VAT return and payment from 20th to the 23rd of the month following the reporting period. Most businesses are on quarterly filing in Latvia unless they have intra-community supplies exceeding €50,000 per annum when they are on
Ukraine has introduced a new 14% reduced VAT rate from 1 March 2021. This is added to the existing standard VAT rate of 15% and the reduced rate of 7% on pharmaceuticals, and admission to cultural / cinema / sport etc and . The original
The Italian authorities have postponed the 2020 collections of its 3% Digital Services Tax from 16 February until 16 March 2021. The associated annual return is delayed until 30 April 2021. The turnover tax was introduced for the 2020 financial year is chargeable on income
Non-resident e-services VAT obligations from January 2022; change to quarterly reporting; marketplaces must register The Caucasus state of Armenia implemented Value Added Tax on non-resident providers of digital services on 25 November 2021. This followed the EU 2015 digital services VAT model, requiring VAT to
Following the ending of the UK’s Brexit transition period on 31 December 2021, the standard Value Added Tax return has undergone some minor changes. Updated VAT return to reflect leaving the EU This reflects the UK being outside of the EU VAT regime, meaning: Movements
