Eurozone energy inflation 39% May 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 8.1% in May, up from
12% Sales Tax being replaced with 15% Value Added Tax on 1 January 2023 The South American state of Suriname’s National Assembly is now reviewing a Bill to introduce VAT on 1 January 2023. This is a six-month delay on the current plans for 12% VAT
Draft Bill to impose VAT on nonresident digital or electronic service providers and marketplace platforms to be reintroduced following elections The new government of President-elect Ferdinand R. Marcos, Jr is expected to push through a stalled Bill to impose 12% on non-resident digital service providers
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
Tax office seeks tax information from platforms, banks and others to tighten VAT collections Vietnam’s General Department of Taxation (GDT) has issued guidance for local tax offices to co-opt various parties in gathering details of taxable trade. This includes: Home sharing platforms Digital payments services
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
