Real-time transaction-based reporting and pre-clearance of VAT invoices to tax authorities to improve tax collections and simplify compliance Governments seize control of invoicing process As governments around the world look
Withholding VAT % raised across number of sectors Turkey has raised the rates and list of supplies subject to a VAT split payment or withholding payment. This obligation requires the
Tax loophole to be closed by making platforms responsible for VAT Switzerland is set to follow the EU by imposing deeded supplier obligations on digital platforms. This makes them responsible
Caribbean state consults on levying VAT on e-services from non-resident providers and marketplaces The Caribbean state of the Dominican Repulic is consulting on imposing Value Added Tax on foreign digital
Dutch Caribbean dependancy joins Value Added Tax club in exchange for COVID-19 funding The Caribbean island of Aruba is to introduce a Value Added Tax at 12.5% from January 2023.
Anti-VAT fraud initiatives get Parliament vote The European Parliament voted on 16 February 2022 in favour of harmonising pan-EU e-invoicing and supporting the adoption of the definitive VAT system reform
First stage GST hike next year with more to come to fund ageing population Singapore is increasing its Goods and Services Tax rate for the first time in 15 years
Alternatives for determining the customs value for post-Brexit import declarations Following the UK’s departure from the EU Customs Union and VAT regime after 31 December 2020, importers will have to
Threshold on electronic reporting of e-invoices cut ahead of live reporting South Korea’s near real-time e-invoicing regime will be made mandatory for a larger group of companies as it cuts
3-month payments option for 2021 Quarter 4 VAT period VAT registered taxpayers in Cyprus may opt to pay their December or Quarter 4 2021 returns. However, returns must nevertheless be
Overcharged import VAT recovery via IOSS return proposal The European Commission (EC) has proposed a solution to the problem of double taxation arising on the new Import One-Stop Shop process
Acquisitions thresholds hiked; new IDEP+ filing portal The Netherlands has updated its 2022 Intrastat reporting thresholds as follows: Acquisitions: raised from €800,000 to €5m per annum Dispatches: no change on
Tax authorities migrating from VAT returns to digital reporting requirements, including: e-invoices; real-time reporting; SAF-T; Control Statements; pre-filled VAT returns; freight transport e-registers; and fiscal cash registers Driven by stubborn
Egypt e-invoicing mandates further businesses Egypt is to open its e-invoicing regime to the sixth round of businesses on 15 February 2022. The project was started in November 2021 with
Record inflation prompts temporary VAT cut to basic foodstuffs Turkey has become the latest country to temporarily cut VAT to combat inflation. The cut from the reduced rate of 8%
Kyrgyz Republic confirms non-residents subject to VAT obligations Kyrgyzstan has confirmed the obligation for non-resident providers of digital services that they are responsible for Value Added Tax obligations. This is
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