Food and medical supplies cut from 10% to 5% proposal The Russian Federation is considering a new reduced 5% VAT rate for certain basic supplies. This would be from the
Intrastat – reporting on movement of goods between EU member states – reporting threshold to rise 1 January 2023 Finland has increased its Intrastat reporting thresholds for 2022 as follows
Continued freezing of UK VAT registration threshold at £85,000 until April 2026 draws in 16,700 small businesses into tax net Today’s UK Autumn Statement (budget) will extend the VAT threshold
July 2023 – threshold reduced on reporting of e-invoices South Korea’s near real-time e-invoicing regime will be made mandatory for a larger group of companies as it cuts the annual
Anti-inflation shield VAT cuts fall foul of EU VAT Directive rules The EU’s European Commission has blocked VAT zero-rating of natural gas, fuels and fertilers by Poland as part of
Raised reporting threshold for intra-community supplies reporting Bulgaria is the first EU country to announce an annual uplifting of its reporting threshold for Intrastat, the EU-wide reporting regime for intra-movement
E-services by non-residents subject to 13% VAT collections – house sharing platforms added November 2022 The Ministry of Finance has confirmed an extension of VAT to services provided by major
13 new regions join mandatory e-invoice (e-fapiao) pilot in August 2022; full roll out by 2023 28th Oct 2022 update: the southwestern Chinese province of Sichuan has joined the e-fapiao pilot.
Updates to Value Added Tax rules with GCC VAT Agreement The Ministry of Finance in the United Arab Emirates is making a series of changes the Federal Law on VAT
Anti-VAT fraud VAT splitting measure The Italian Department of Finance has extend the list of companies which suppliers must apply VAT split payments on. This requires suppliers to pay the
VAT Act published ahead of January 2023 implementation The Suriname 2022 VAT Act has now been gazetted for the introduction of VAT from 1 January 2023. This replaces the existing
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