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Malaysia Sales Tax on low-value B2C imported goods 2023; Service Tax on delivery services 2022

31 October 2021 in

e-commerce

New budget promises extension of SST across e-commerce In the 2022 National Budget, published on 29 October 2021, Malaysia extended its 6% Service Tax to delivery services. Secondly, it will require sellers of imported goods not exceeding RM500 to charge 10% Sales Tax at the

Italy VAT electronic cash register reporting changes

31 October 2021 in

cash register

From 1 January 2022, retailers subject to the 2019 internet-linked cash register transaction reporting – registratore telematico – face new obligations. This applied to all retailers, resident and non-resident, with a turnover above €400,000 per annum. The new requirement oblige eligible retailers to upgrade their

Denmark calls time on COVID-19 VAT scheme

30 October 2021 in

COVID-19

Ending of VAT liabilities deferral Denmark is the latest European country to start the withdrawal of coronavirus-related Value Added Tax support measures. The repayment period for VAT liabilities due by 1 November 2021 or 1 February 2022 has now been moved to 1 April 2022.

Brazil raises IOF financial transaction tax

30 October 2021 in

Brazil

COVID-19 forces temporary tax hikes Brazil’s federal tax on financial transactions, Imposto Sobre Operações Financeiras—IOF, is being temporarily increases between 20 September and 31 December 2021. The raise is aimed at raising funds to help support people most affected by the ongoing COVID-19 crisis –

Angola cuts VAT to 7% on range of supplies

29 October 2021 in

Angola

COVID-19 VAT support Angola’s government has today announced plans to reduce the Value Added Tax rate on a range of essential goods from the standard rate of 14% to 7%. More details to follow, but the reduction had been flagged in the past to start

Bosnia raises VAT registration threshold

29 October 2021 in

Bosnia and Herzegovina

The Bosnia and Herzegovina tax authorities have announced a rise in the Value Added Tax registration threshold and a range of other measures which should come into effect before the end of 2021. Bosnia moves toward European Union VAT regime The changes to the VAT

Defining the gig and sharing economies for VAT

29 October 2021 in

Gig and sharing economies

The internet, and major online marketplaces, have enabled businesses and people to buy and sell goods and services on a hugely expanding scale in the past five years. The EU Commission estimates online e-commerce is worth €550 billion per annum. This blog is part of series from

Bahamas VAT cut to 10% January 2022

28 October 2021 in

Bahamas

Standard rate cut partially funded by removal of zero-rating on basics The Caribbean Island of the Bahamas has agreed a 2% VAT rate cut from 12% to 10% by 1 January 2022. The VAT rate was raised from 7.5% to 12% in July 2018. VAT

Kenya e-invoicing TIMS

28 October 2021 in

e-invoices

Tax registers with live reporting to the Revenue Authority The Kenya Revenue Authority KRA started in August 2021 the operations of e-invoicing cash registers under which taxpayers to maintain a tax register that is able to transmit tax invoice data to the Kenya Revenue Authority

Bahrain doubles VAT rate to 10% January 2022

28 October 2021 in

Bahrain

Drop in oil prices and COVID-19 may force VAT hike The Arab Gulf state of Bahrain will raise its standard Value Added Tax rate from 5% to 10% from 1 January 2022. The hike is being impelmented as the state has struggled to contain its

Author: Richard Asquith

Malaysia Sales Tax on low-value B2C imported goods 2023; Service Tax on delivery services 2022

Italy VAT electronic cash register reporting changes

Denmark calls time on COVID-19 VAT scheme

Brazil raises IOF financial transaction tax

Angola cuts VAT to 7% on range of supplies

Bosnia raises VAT registration threshold

Bahamas VAT cut to 10% January 2022

Kenya e-invoicing TIMS

Bahrain doubles VAT rate to 10% January 2022

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Author: Richard Asquith

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