Malaysia has extended the exemption from 5% Service Tax for hotels and overnight accommodation. The existing temporary cut was due to expire on 1 July 2021. It will now apply to 31 December 2021. The reduction to 31 December 2021 applies to renting premises. Any
Updated rules post-Brexit for non-resident providers of electronic services to UK consumers The UK introduced Value Added Tax obligations on foreign providers and marketplaces of electronic or digital services to consumers from 1 January 2015. This was part of the EU’s Mini One-Stop Shop MOSS
Delayed electronic invoicing gets 2022 go-ahead Vietnam General Department of Taxation (GDT) is planning to implement mandatory pre-clearance e-invoicing from 1 July 2022. It has already been delayed from 1 November 2020 due to the COVID-19 crisis. Business can opt to switch now to the
6-month VAT rate cut to help soften inflation Cyprus is the latest EU state to cut electricity VAT rates. It will move domestic supplies of electricity from the standard VAT rate of 19% to the reduced rate of 9%. This will initially be for a
Lowered annual e-Fatura and e-Arşiv thresholds for all B2B businesses; e-commerce and property attract special requirements Turkey has added new requirements to its government pre-clearance e-Fatura e-invoice regime in the past months. The Turkish Revenue Administration (TRA) wishes to bring more taxpayers into the e-Fatura net
Mainland China places the Value Added Tax responsibilities for non-resident sourced digital or electronic onto the Chinese resident customer. This applies to both B2C and B2B. There is no facility for non-residents to register for VAT. Non-resident providers of digital services should consider the likelihood
Poland joins 18 other EU member states with VAT group simplification option Poland has signed into law a range of tax measures (Polski Ład) to help promote business innovation and growth. This includes the option for a single VAT return for related companies, a ‘VAT
e-publications allowed same VAT rate as paper-versions Romania is to reduce the Value Added Tax rate on e-books from 1 January 2022. This will include audio books, blogs, electronic newspaper and journals. The follows a 2018 agreement between member states to allow the harmonisation of
South Korea first introduced mandatory real-time electronic tax invoice (e-Tax) requirements in 2011, expanding it to most taxpayers by 2014. This includes pre-clearance of sale invoices with the Korean National Tax Agency (NTA) before issuance to customers. Check VAT Calc’s global live VAT invoice transaction and
Latvia enacts EU reduced VAT agreement on e-books and news 1 January 2022 The Baltic state of Latvia’s Parliament has agreed to cut the Value Added Tax rate on income from electronic books, newspapers and journals to 5% from the rate of 21%. This harmonises
