Reduced VAT rate on foods; rise for ‘luxury’ goods The Bosnian assembly of Republika Srpska has approved a reduction on basic foodstuffs from the reduced VAT rate of 17% to
171 countries have implemented VAT or GST at 1 July 2022 as Anguilla adopts GST Since the first introduction of a Value Added Tax in France in 1954, it has
European Commission turns down request to exempt new Gas Levy from VAT – but will work of other solutions The European Commission has today, 16 August 2022, turned down a
Third extension of gas VAT cuts until 31 December 2022 as inflation hits 7.9% in July 2022 Italy has extended for the forth time the temporary cut in Value Added
Plans for simple single VAT rate lose out Bangladesh is to back track on original plans for a single VAT rate simplification, and instead reduce from six rates to four.
Economic package to boost growth to cut VAT from current 17% The East African state of Republic of Mozambique is to cut its standard Value Added Tax rate from 17%
DGI prepares for January 2023 final rollout phase of electronic invoicing. Since 2021, a pilot roll out is underway of mandatory e-invoicing for all new taxpayers on the Electronic Invoicing System
Trial of B2C electronic receipts extended to 2nd phase October 2022 Egypt is launching the second wave of pilot of electronic invoicing / receipts on 1 October 2022. The first wave
EU extends Brexit infringement deadline to 15 September. EU latest legal action against UK on failure to fully implement Northern Ireland Protocol: Import One-Stop Shop e-commerce VAT return; customs checks
Qualified enterprises have 10% or 15% additional deduction of creditable input VAT into 2023 China’s State Council has indicated that it will extend the right for input credits for a
Government wishes to extend mandatory electronic invoicing to hundreds of thousands of small business to curb fraud India’s Central Board of Indirect Taxes looks set to lower further on1 January 2023
Inflation exceeds 21% in July (19% in June), highest in 20 years The Latvian Ministry of Economics is considering a two-year cut in the Value Added Tax rate on basic
Split payments of VAT to combat fraud The Caribbean islands state of the Bahamas has imposed Withholding VAT on payments by certain government bodies to commercial taxpayers. The aim is
Bosnia continues harmonisation with EU VAT Directive rules Bosnia and Herzegovina is to update a range of VAT rules under its Law on VAT. This is to help businesses comply
Finance Ministry looks to zero-rate VAT on upcoming €1,000 Gas Levy as energy inflation reaches 35.7% Germany’s plan to impose a one-off Gas Levy on its consumers in September to
Reduction in limit on cash settlements to fight fraud Israel has reduced the permitted threshold for cash payments on B2B VAT invoices. From 1 August 2022, the maximum that may
Third round of SLIM: Simple, Local and Modern VAT reforms The Polish government has published last month comments on a draft Bill to introduce a range of VAT simplifications –
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