2020-21 figures show Value Added Tax receipts down 22% due to emergency VAT deferral Figures released 14 December show the full effect of the COVID-19 pandemic on VAT receipts, including the March and June 2020 VAT payment deferral scheme used by over half a million
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Gulf state not to follow Saudi Arabia and Bahrain with COVID-19 VAT rises The Omani Ministry of Finance has restated its commitment to a 5% standard Value Added Tax rate. There will be no rise in 2022. This comes despite Saudi Arabia (15%) and Bahrain (10%)
Sales Tax replacement on hold due to IT hold-ups Bhutan has delayed the implementation of its Goods and Services Tax until 1 July 2022. It had originally been scheduled for 1 July 2021. The implementation had already been postponed from January 2021. The indirect tax,
Shura Council and Council of Representatives have now both approved VAT hike due to COVID-19 pandemic The Arab Gulf Kingdom of Bahrain will raise its standard Value Added Tax rate from 5% to 10% from 1 January 2022 following the formal approval by upper house
Since 2018, Uruguay imposed its Value Added Tax (on intermediation services) and Withholding Tax (IRNR) (on audio visual media services) on non-resident providers and intermediaries of digital or electronic services. This includes regular electronic services, but also gig & sharing economy intermediation services conducted via
Kosovo introduced Value Added Tax on non-resident providers and digital marketplaces of digital or electronic services to its consumers from 1 September 2015. There is no VAT registration threshold for non-residents, and a Fiscal Representative must be appointed. The current VAT rate in Kosovo is
COVID-19 crisis means postponed VAT returns and payment deadlines The Portuguese tax authority, Autoridade Tributária e Aduaneira (AT), has extended both monthly and quarterly VAT return filings and payment deadlines. This is provided in recognition of the continuing COVID-19 crisis. The changes are as follows: Monthly
Monthly electronic fiscal file portal upgraded under SPED Brazil has upgraded the record-keeping portal for ICMS and IPI indirect taxes. The new version comes into effect from 1 January 2022. The portal is used for reporting to the Federal Revenue Office of Brazil accounting records
Georgia has implemented Value Added Tax obligation on non-resident providers of digital or electronic, broadcast and telecommunications services from 1 October 2021. It was delayed from 1 July 2021. This follows the example of the European Union and OECD recommendations. In addition to digital services,
