Persistent VAT gap of 26% brings range of digital recommendations The Bank of Greece has put forward a range of proposal to tackle the Greece’s VAT gap, the measure of actual tax receipts versus expected, is one of the highest in the EU at 25.8%,
Digital and traditional services brought into sales tax net to fund income tax cuts The Kentucky general assembly has put aside a Governor attempt to stop an widening of the sales tax net which in turn is to be used to finance an income tax
Import VAT and other import taxes waived from 1 April 2022 The Ukrainian Gazette has published a law update to exempt vehicle imports from VAT. This will include excise duties and customs clearance fees. The order was Gazetted on 5 April 2022, and retrospectively applies
Extension of OSS return – Single VAT registration in the EU – for cross-border B2C and B2B transactions as part of VAT in the Digital Age reforms The European Commission (EC) is set to publish draft VAT Directive amendments this autumn for the extension of
Political tensions following COVID disruption to 5-year deal to compensate 28 states since 2017 GST compensation ends 1 July 2022 In July 2017 with the launch of India Goods and Services Tax, the GST Compensation Act, 2017 provided for five years of compensation payments to
Trial of B2C electronic receipts starts 15 April; fully mandatory by July 2022 Egypt is to launch a pilot of electronic invoicing / receipts on 15 April 2022. It will be made mandatory from 1 July. This follows the roll out of B2B e-invoicing since
Money transfer services via payment wallets do not enjoy Financial Services exemption. Also imposing VAT on crypto asset trading transactions Indonesia’s Finance Ministry has confirmed the financial tech companies offering digital wallet services will be subject to charging standard rated VAT. This will apply from
Tourism, hospitality, alcohol gets further quarter VAT and duties relief Paraguay has extended reliefs granted to a range of tourism and hospitality sectors VAT and duty reliefs in recognition of the ongoing disruption from the COVID-19 pandemic. The measures have now been prolonged into April,
12% Sales Tax being replaced with Value Added Tax on 1 July 2022 The South American state of Suriname’s Government Council passed the VAT Bill 2022 on 8 April 2022. This follows Parliament giving the go ahead for the implementation of a Value Added Tax regime
Narrowing polls push candidates on VAT cut promises as inflation soars past 5% As France goes to the polls today in the first-round of the Presidential elections, far-right opposition candidate, Marine Le Pen, has committed to a VAT rate cut on petrol and diesel from
