Eurozone energy inflation 38% April 2022; temporary VAT subsidies for domestic power, foods and other basics A fast-growing queue of European countries are emerging to cut their already reduced VAT rates on domestic energy, petrol and foods. Eurozone headline inflation hit 7.5% in April 2022, up
171 countries have implemented VAT or GST as at May 2022 Since the first introduction of a Value Added Tax in France in 1968 (initial version 1950’s), it has now been adopted by 171 countries around the world. In many countries, VAT is known as
Most retailers must have adopted electronic Point-of-Sale machines for VAT reporting by 1 July 2022 Italy is enforcing the adoption of electronic cash registers which the capability to make automated daily transaction reports to the tax authorities. All retailers above the further reduced threshold will
Remotely delivered non-digital services to come into VAT net The Norwegian Ministry of Finance has launched a consultation on imposing VAT on foreign providers of traditional services to consumers by non-resident providers. Such cross-border services include: Consulting Accounting and tax Architecture The Ministry of Finance
12% Sales Tax being replaced with Value Added Tax on 1 July 2022 The South American state of Suriname’s Government Council passed the VAT Bill 2022 on 8 April 2022. This follows Parliament giving the go ahead for the implementation of a Value Added Tax regime
