Indian Ocean Island state increases GST and Tourism Tax from 1 January 2023 to finance debt costs The Maldives has passed a rise in the Goods and Services Tax from
Zero-rating of basic foods to continue in first half of 2023 as inflation hits 18% The Polish Prime Minister, Mateusz Morawiecki, has stated that the rate of Value Added Tax
Parliament review VAT rate cuts to food, restaurants and other services The Riigikogu, the Parliament of Estonia, is reviewing a Bill to reduce to the reduced VAT rate of 5%
Guernsey to decide on implementation of Goods & Services Tax The Channel Island of Guernsey is considering implementing a Goods and Services Tax. There is a debate on the introduction
Shift from 21% standard rate to 9% reduced rate; other reduced rate changes The Baltic state of Lithuania is considering in parliament a fill to reduce the VAT rate on
€25,000 threshold limit backed by European Commission until December 2024; but threshold remains €20,000 The European Commission has proposed to allow the Netherlands to raise its VAT registration threshold to €25,000.
HMRC confirms reporting thresholds for goods moving between EU and Northern Ireland will remain unchanged for 2023 The Northern Ireland to EU Intrastat thresholds for 2023 will remain at the
General Consumption Tax simplifications The South Pacific French territory of New Caledonia is to simplify its TGV regime – VAT. The changes will include: Consolidating the existing four rates (11%
UK Treasury abandons 2% Online Sales Tax on e-commerce goods and services In the latest Autumn Statement, the UK confirmed that it will stop its review of a potential online
ViDA – the most ambitious reforms to the EU VAT regime in decades will be unveiled on 8th December 2022. What should we expect? I’ve dusted off my crystal ball.
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
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