JP Morgan Chase loses Upper Chamber VAT appeal over single v multiple intra VAT group supplies The Upper Tax Tribunal has dismissed on 16 June 2025 an appeal by JP Morgan Chase Bank NA, confirming HMRC’s position on the VAT liability of intra-group services within
Further 3% rise in standard rate following 2022 increase to 15% Sri Lanka’s cabinet has approved a 3% VAT rise from 15% to 18%. This will come into effect from 1 January 2024. This increase is to help ensure government reaches revenue targets and secures
Debt and inflation woes push reversal of 2019 VAT cuts The Sri Lankan government on 31 May announced with immediate effect a rise in the standard VAT rate from 8% to 12%. A range of other tax measures, including a rise in corporate income tax
2019 cut to 8% may have to be reversed as country faces worst economic crisis The drop in revenues during the COVID-19 crisis may force the government to reverse the reduction in VAT in 2019 from 15% to 8% the finance minister has said. This
New tax hikes and levies on range of supplies confirmed by Parliament – 1 January 2022 implementation Update: Sri Lanka VAT raised to 12% from 1 June 2022 The drop in revenues during the COVID-19 crisis has forced the government to propose a range of
Banks and other financial institution may opt for B2B VAT on certain activities Poland is to take up the EU VAT Directive option to allow businesses to charge VAT on certain B2B financial service transactions. This will come into effect from 1 January 2022. The
As the Brexit transition period comes to an end on 31 December 2020, the UK’s financial services sector has been granted a VAT boost. The Chancellor, Rishi Sunak, has confirmed that input VAT incurred on banking or insurance services as export services will be deductible.
