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Kuwait VAT on foreign digital services Jan 2023?

11 March 2022 in

digital services

Gulf state likely to launch VAT regime 2023, including obligations for non-resident service providers and marketplaces Kuwait’s 2023 VAT implementation potential plan means that non-resident providers of telecommunications, broadcast and digital or electronic services can expect to be obliged to VAT register and charge 5%

EU reduced VAT rate freedoms 2025 agreed by EU Parliament

10 March 2022 in

EU VAT

EU Parliament backs member states’ reduced VAT rate freedoms – can now enter EU law The European Union Parliament has backed this month Finance Ministers’ agreement on extended reduced VAT rate setting powers. Member states may now commence incorporating into EU law once gazetted. The

VAT TV March 2022 global news & views

10 March 2022 in

Goods and Services Tax

Want to join the VAT TV subscription list? Sign-up here. March 2022 VAT & GST news and views

Portugal cuts fuel taxes on inflation fears

10 March 2022 in

COVID-19

ISP fuel tax to be cut as VAT reduction under consideration Whilst Portugal still has only the second highest energy inflation rate in the Euro zone at 12% for January 2021, it has still brought forward a cut to the fuel tax, Imposto sobre os

Barbados VAT on foreign digital services

10 March 2022 in

Barbados

Barbados implemented its Value Added Tax on non-resident providers of digital services (and goods bought online from abroad) in December 2019. There is no guidance on the position of marketplaces and their shared liabilities. Follow VAT Calc’s global VAT and GST on digital services tracker for live

ECJ – UK undervalued imports from China 2011 to 2017

8 March 2022 in

€2.7 billion potential fine – ECJ finds UK “failed to fulfil its obligations” failing to collect proper customs duties The British government faces paying a hefty charge to the EU after the European court of justice ruled it had been negligent in allowing criminal gangs to

France e-invoicing and e-reporting update

8 March 2022 in

e-invoices

Small enterprises guidance for joining e-invoicing and e-reporting before Jan 2026 The French General Directorate of Public Finance has confirmed the status of small enterprises wishing to join on a voluntary basis the implementation of French e-invoicing from July 2024. They will be mandated to

Cyprus cuts VAT petrol to 5%; extends power 9% VAT cut

7 March 2022 in

Cyprus

February fuel inflation prompts VAT cut The Cyprus government has implemented a temporary cut in the Value Added Tax rate on petrol from the standard rate to 5%. A power consumption rate cut was already in place to 9%, and this has been extended. The

India considers streamlining GST rate to 8%; 18%; and 28%

7 March 2022 in

Goods and Services Tax

Simplifying to 3 Goods and Services Tax rate from current 4 rates The Indian GST Council, which oversees the policy and running of Indian GST, is considering a proposal to cut the current four rates to 3 by merging the current 5% and 12% in

Italy rolls over domestic gas VAT cut to 5% until 30 Jun 2022

5 March 2022 in

COVID-19

Second extension of gas VAT cuts until 30 June 2022 as inflation hits 5.7% Italy has extended the temporary cut in Value Added Tax rate on domestic and industrial use gas until 30 June 2022. The cut was initially introduced between October and December 2021,

Author: Richard Asquith

Kuwait VAT on foreign digital services Jan 2023?

EU reduced VAT rate freedoms 2025 agreed by EU Parliament

VAT TV March 2022 global news & views

Portugal cuts fuel taxes on inflation fears

Barbados VAT on foreign digital services

ECJ – UK undervalued imports from China 2011 to 2017

France e-invoicing and e-reporting update

Cyprus cuts VAT petrol to 5%; extends power 9% VAT cut

India considers streamlining GST rate to 8%; 18%; and 28%

Italy rolls over domestic gas VAT cut to 5% until 30 Jun 2022

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Author: Richard Asquith

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