Richard Asquith - vatcalc.com

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Burundi electronic invoicing – e-Tax

10 September 2022 in

Mandatory electronic invoice live reporting – digitalised businesses The Republic of Burundi imposed mandatory e-invoicing for certain taxpayers from January 2022. This included resident and non-resident providers of digitised businesses. Get our free VAT newsletter for international VAT updates. This is done to the Office

Singapore – Jan 2023 B2C 8% GST on low-value goods and non-digital services

9 September 2022 in

digital services

Extension of GST from digital services to low-value consignments and traditional services provided by Overseas Vendors Non-resident providers (‘Overseas Vendors) of low-values goods and non-digital services to Singaporean consumers will be liable to charge, collect and remit Goods and Services Tax from 1 January 2023.

Portugal extends duty cuts ahead of VAT reduction on petrol and diesel

5 September 2022 in

10% inflation, including 24% energy inflation prompts extension of fuel duty cut Whilst Portugal is still considering a Value Added Tax rate cut on petrol and diesel, it will roll over an April cut duty on petrol by an amount equivalent to a 10% reduction

Bahrain progresses VAT e-invoicing launch – 2024

4 September 2022 in

Bahrain

Bahraini National Bureau for Revenue issues e-invoice launch tendor following public survey – possible January 2024 launch The Bahrain NBR is now seeking proposals for the introduction of an e-invoicing regime. This follows a public survey earlier this year. Bahrain is likely to follow the

Niger e-invoicing SECeF

3 September 2022 in

e-invoicing

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

Paraguay renews transport VAT rate cut to end 2022

1 September 2022 in

COVID-19

Existing transport VAT rate discount extended to 31 December 2022 The Paraguayan President’s department has rolled over the 50% VAT discount – to an effective reduced VAT rate of 5% from the standard rate of 10%. This was due to end on 31 September; it

France VAT B2B e-invoicing and B2C e-reporting July 2024 – update

30 August 2022 in

e-invoice

French mandatory e-invoicing confirmed; fines regime The French Parliament has adopted the provisions of the Finance Law 2022, which includes the phased introduction of e-invoicing. A late addition to the rules is the penalty regime for missed e-invoices. This will be: For taxpayers: €15 per

UK VAT cut debate as inflation surges past 10%

28 August 2022 in

Reduced VAT rates

UK Prime Minister candidates review VAT cuts: standard rate from 20% to 15%; energy cut from 5% to 0% Conservative party leadership candidates, and therefore the next Prime Minister of UK, review proposals to cut the reduced VAT rate on domestic energy from 5% to

Malaysia Sales Tax on low-value B2C imported goods 2023

27 August 2022 in

e-commerce

Legislation to impose Sales Tax on low-value goods from 1 January 2023 (to be finalised) The Malaysian Sales Tax Bill 2022 passed at the Parliament to impose Sales Tax on the imports of goods being sold to consumers under to-be-set threshold. This is expected to

VAT cuts on energy & food as inflation hits record 8.9% in July 2022

27 August 2022 in

domestic gas and electricity

Eurozone energy inflation 42% July 2022 (39% June); temporary VAT subsidies for domestic power, foods and other basics A fast-growing queue of European countries are emerging to cut their already reduced VAT rates on domestic energy, petrol and foods. Eurozone headline inflation hit 8.9% in July,

Author: Richard Asquith

Burundi electronic invoicing – e-Tax

Singapore – Jan 2023 B2C 8% GST on low-value goods and non-digital services

Portugal extends duty cuts ahead of VAT reduction on petrol and diesel

Bahrain progresses VAT e-invoicing launch – 2024

Niger e-invoicing SECeF

Paraguay renews transport VAT rate cut to end 2022

France VAT B2B e-invoicing and B2C e-reporting July 2024 – update

UK VAT cut debate as inflation surges past 10%

Malaysia Sales Tax on low-value B2C imported goods 2023

VAT cuts on energy & food as inflation hits record 8.9% in July 2022

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