Austria to relaunch its SAF-T regime March 2024; was one of the earliest to adopt the OECD’s format for exchanging data with the tax authorities Austria’s is relaunching its version
New VAT law to alleviate slow credit refunds China’s proposed new VAT law is undergoing a second reading for the Standing Committee of the National People’s Congress. A major pillar
Council of State finds VAT exemption conditions incompatible with EU VAT Directive Short term home sharers on platforms such as Airbnb are likely to face tighter rules on their VAT
Ending complexity of VAT treatment for customs and VAT warehousing and import reliefs Tracking and accurately calculating VAT reliefs on inward processing imports, including reexports or releases into free circulation,
Reduction from 20% standard rate to 8% from 1 January 2024 The Moldovan Ministry of Finance’s proposal to reclassify hotel accommodation and restaurant services from the 20% standard rate to
August 2023 – new guidelines of VAT obligations for non-resident providers of digital services The Egyptian Tax Authority has published English language guidelines on the VAT obligations for foreign providers
Government proposes zero-rating of fruit and vegetables if wins election New Zealand’s Labour government has committed to zero-rating Goods and Services Tax on unprocessed fresh and frozen fruit and vegetables
Internal Revenue Service confirms VAT on cryptocurrencies The Internal Revenue Service of Chile (SII) has confirmed the VAT liabilities on the trading of digital currencies such as bitcoin. Like many jurisdictions, trading
Annual VAT registration threshold rises to BAM 100,000 The Bosnian and Herzegovina parliament has approved an increase in the annual VAT registration threshold. The new threshold will be BAM 100,000
Joins other countries ruling minding or forging is financial service and therefore exempt from VAT The Norwegian Tax Administration has ruled (Tax Appeals Board Decision No. SKNS1-2023-30) that income for
Parliament approves tax reforms, including major VAT changes Italy’s Parliament last week approved wholesale reform of Italian tax including a number of changes to the Italian VAT system. The reforms
Aug 2023: Ministry of Finance provides SMB VAT relief for further 5 years as growth slows The Chinese Ministry of Finance and State Administration of Taxation have extended the exemption
Return of standard VAT rate to 15% for all supplies Fiji’s 2023-24 budget, 30 June 2023, included a rise in the standard VAT rate from 9% to 15% from 1
Denmark’s Standard Audit File for Tax introduced as part of wider certified digital bookkeeping requirements The Danish Business Authority, Erhvervsstyrelsen, has developed a proposed version of SAF-T reporting for resident
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