Fifth of the six Gulf states to implement VAT The Arab Gulf state of Kuwait is considering a plan to implement Value Added Tax (excise duties 2022) on 1 January 2023 – but Parliamentary opposition remains high This will be part of the plan agreed
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
VAT – gig and sharing economies As part of the VAT in the Digital Age review of the impact and best policies for indirect tax reforms, the European Commission is reviewing ‘VAT Treatment of the Platform Economy’. This includes the VAT effects for the gig
Draft Bill to impose VAT on nonresident digital or electronic service providers and marketplace platforms The Philippines’ House has approved a bill (House Bill 7425 (HB 7425)) to implement VAT on “digital or electronic” supplies sold by foreign provider via the an online platform. However,
Romania eFactură electronic invoices pilot Nov 2021; phased launch 2022-23 Romania’s Ministry of Public Finance has announced that it intends to introduce an RO national e-invoicing regime as early as 6 November 2021 for a pilot on B2G and B2B. In ordnance 8/2021 issued in the
Italy fails to fully implement VAT EU reforms In its monthly listing of EU law infringements, the European Commission has called out Italy for failing to fully implement the 2020 VAT Four Quick Fixes. The four reforms were intended to harmonise and simplify the B2B
COVID-19 disruption results in tax relief The Central American state of Ecuador has extended the deadline for July VAT transaction submission from 20 August to 20 September 2021. This is in recognition of the ongoing COVID-19 health and economic crisis. This includes the payment of
Thailand has become the latest country to impose Value Added Tax on non-resident providers and electronic marketplaces of digital or electronic services from 1 September 2021. This includes a VAT registration threshold of THB 1.8million annum (approx. €46,000), after which sellers should register with the
Italy’s latest Value Added Tax compliance relaxation will give VAT-registered businesses additional time to remit any due payments. VAT payments to 15 September 2021 The one-month concessions are as follows: 15 August 2021 payment deadline is now extended to 15 September Option to apply for
The Ministry of Finance has granted a fresh round of easements on Value Added Tax returns and liability payments. VAT payments due by 10th August for the quarter 2 (April to June 2021) returns may now be deferred until 10th 10th September payments (for May
