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Thailand shelves plans to raise VAT to 10%
Longstanding Oct 2023 VAT rise shelved; Oct 2024 potential next date The Thai Ministry of Finance confirmed on 28 August 2023 that the scheduled rise in VAT from 7% to 10% will not go ahead on 1 October 2023. VAT was cut from 10% to
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China extends 3% VAT rate withdrawal for small businesses till 31 Dec 2027
Aug 2023: Ministry of Finance provides SMB VAT relief for further 5 years as growth slows The Chinese Ministry of Finance and State Administration of Taxation have extended the exemption for small businesses from the 3% VAT rate. Also, the alternative cash-flow based VAT accounting
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Ireland 0% VAT on solar panels
Ministry of Finance confirms terms of zero-rating for domestic solar panel installations – previous rate was 23% Ireland has joined the growing number of EU states that has taken advantage of new reduced EU VAT freedoms to zero Value Added Tax on the sale and
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2023 global VAT & GST rates
304 countries, states, provinces and dependancies VAT, GST and sales tax rates VATCalc‘s searchable database provides the most comprehensive free source of global VAT, GST and sales tax rates. The is maintained live by our tax content experts, and supports our disruptive single-platform tax engine
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Bulgaria VAT rate cuts
Cuts to newspapers, hotels and basic foods Bulgaria has gazetted various changes to the VAT Act to cut rates permanently and temporarily on a range of supplies. VAT rate changes The updates include: Newspapers and journals are reduced from 22% standard rate to the 9%
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2023 global VAT rate changes
Major standard VAT and GST rate changes scheduled for 1 January 2023 Below is a live list of planned global VAT rate changes from around the world. You can read about all 2023 international VAT changes here, and sign-up for our VAT newsletter to keep
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Zimbabwe raises VAT to 15% 2023
Standard VAT rate returned to 15% from 14.5% 1 January 2023 following COVID In its 2023 Budget, Zimbabwe has returned its standard VAT rate to 15%. It was originally cut to 14.5% at the start of 2020. This was done to help households during the
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Singapore GST rise to 8% Jan 2023; 9% Jan 2024 – update
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Vietnam to cut VAT to combat energy inflation
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 20% and Special Consumption Tax by 50%; or Cut VAT and Special Consumption Tax by