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India to cut e-invoice threshold to ₹10 crore from October 2022
Further drop in annual sales threshold for India GST payers to adopt electronic invoicing The government has approved a new cut in the annual sales threshold to ₹10 crore (approx.$120 million per annum) for taxpayers mandated to adopt Indian e-invoicing. This will come into effect
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Anguilla implements 13% GST 1st July 2022
The Caribbean British territory of Anguilla has introduced a 13% Goods and Services Tax (GST) on 1 July 2022. Mandated business may now register if they are above the GST registration thresholds (see below). Introducing a full consumption tax has been debated many times over
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India GST Council widens tax net; state compensation deadlock
GST state compensation ends tonight in deadlock; rate rises and removal of exemptions on certain supplies despite inflationary worries The July meeting of the Goods and Services Tax Council meeting approved rate rises on a range of supplies, plus the removal of some exemptions from the
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Malaysia still evaluating reintroduction of GST
Government still evaluating reintroduction of Goods and Services Tax to replace Sales and Services Tax Malaysia is again facing calls to reintroduce a Goods and Services Tax to replace its turnover-based Sales and Services Taxes. GST was first introduced in April 2015 to replace SST,
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India GST rate consolidation delay on inflation worries
Proposals to consolidate from 4 rates to 3 likely to go hold due to inflationary fears Long waited plans from the Goods and Services Tax Council to rationalise the GST rates from 4 to 3 slabs look certain to be delayed as inflation in April
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Sri Lanka hikes VAT from 8% to 12%
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
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New Zealand GST digital services non-resident providers
New Zealand’s Inland Revenue Department introduced its 15% Goods and Services Tax on digital or electronic services provided by non-residents to consumers from 1 October 2016. There is a GST registration threshold of NZD 60,000 per annum, and there is no requirement to appoint a
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India delays GST filings and payment
April Goods and Services central filings delayed due to technology issues The Indian Central Board of Indirect Taxes and Customs has delayed the deadlines on returns and payments as follows: GSTR-3B and GSTR-2B delayed to 24 May. This normally submitted around the 20th. Payment of
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May 2022 global VAT & GST changes
Major changes around the world in Value Added Tax and Goods and Services Tax If you want live updates on these issues, sign-up here for our free email newsletter.