Proposals to cut indirect taxes on fuels as inflation ticks up Vietnam’s finance ministry has put forward two alternative measures to cut indirect taxes on fuel. These are: Cut VAT
Increases consolidated sales taxes from 6% to 7% ahead of introduction of VAT in 2024 Aruba is to raise its BBO turnover tax 1% to 2.5% from 1 January 2023.
Major global Value Added Tax and Goods and Services Tax changes from 1 October 2022 To get free regular e-mail alerts on global VAT or GST changes, sign-up to our
2023 Budget hike VAT threshold and other measures The Caribbean islands state of Trinidad & Tobago is to increase its Value Added Tax registration threshold. It will increase from TT$500,000
Lack of definition puts uncertainty on UK VAT obligations for traders and marketplaces The UK’s HMRC has yet to confirm the Value Added Tax status of Non-Fungible Tokens (NFT’s), blockchain
Are NFT crypto assets transactions subject to EU digital services VAT rules? Update: the Committee has produced its working paper on EU VAT and NFT’s in March 2023 Non-Fungible
July 2024 to July 2025 B2B invoicing phased rollout; Peppol likely preferred standard Original plans to launch July 2023 likely have been delayed for a second time to start July
Review of 2020 4 Quick Fixes finds room for practical improvements The European Commission’s VAT Forum has produced a review of the 2020 VAT Quick Fix measures. These were introduced to
Evaluation of electronic invoicing implementations with recommendations for global tax administrations; harmonisation not possible The Organisation for Economic Cooperation and Development has issued an initial findings report “Tax Administration 3.0 and
2023 Budget zeroes VAT on newspapers and rolls over temporary cut to gas and electricity Ireland published its 2023 Budget on 27 September 2022. It included a number of VAT
Eurozone energy inflation 38% August 2022 (40% July); temporary VAT subsidies for domestic power, foods and other basics A fast-growing queue of European countries are emerging to cut their already
Large taxpayers must live report sales invoices to tax authorities The Ugandan tax authority URA has introduced mandatory real-time e-invoicing and receipt reporting from 20 June 2022. This applies to
States enter in treaty to synchronise VAT rules and compliance Russia and Belarus have agreed to synchronise their VAT and excise rules to help support intra-state trade. Measures include: Minimum
Parliament reviews VAT rate cuts on food and domestic energy till Dec 2025 The Latvian Ministry of Economics is considering a two-year cut in the Value Added Tax rate on
UK informs EU it will continue not to impose checks on goods movements between Great Britain and Northern Ireland following EU legal warning; signs of settlement by April 2023 Following
List of VAT registered non-resident digital service providers extended to 159 Mexico’s Tax Administration has provided an update to its regular listing of foreign digital services providers and intermediaries that
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