VAT News

United Arab Emirates

UAE VAT laws available Sept 2017

August 15th, 2017

The United Arab Emirates (UAE) Federal Tax Authority plans to issue the 2018 UAE VAT laws and excise laws by the end of September 2017. The implementation date for 5% VAT is 1 January 2018. It is estimated that over 350,000 businesses will have to VAT register in the UAE.  There is a VAT registration …


How does cross-border taxation impact luxury retailers?

August 15th, 2017

The advent of eCommerce has made goods more accessible and, combined with cheaper, quicker shipping options, more luxury brands are shipping cross-border than ever before. Regardless of the product, the appeal of reaching international markets is a temptation most retailers can’t ignore. But in the rush to expand, many retailers often don’t understand the compliance …


Kuwait approves VAT and excise draft laws

August 12th, 2017

Kuwait has accepted this week draft implementation laws from the Gulf Cooperation Council (GCC) for new VAT and excise taxes. Kuwait is one of the six member states of the GCC, all of which are planning to introduce 5% VAT over the next year.  Only Saudi Arabia and the UAE are likely to launch on 1 Jan 2018. …


Taiwan B2C foreign e-services

August 11th, 2017

Taiwan has confirmed that the Value Added Tax registration threshold for non-resident suppliers of electronic services to consumers is Taiwanese $480,000 per annum. Since 1 May 2017, foreign providers have been required to charge VAT at 5% on the provision to non-VAT registered buyers of online games, videos, music, e-books, newspapers/journals, apps, membership websites, software …


Romania VAT registration changes

August 10th, 2017

The Romanian Tax Code is to be updated from 1 October 2017 to give new powers to the tax authorities on the issuances and withdrawal of VAT registration numbers.  The authorities will now control the right to register businesses based on their due diligence of the applicant and their plans to trade. The changes apply …

Puerto Rico

Puerto Rico Sales and Use Tax

August 9th, 2017

Following last year’s abandoned attempt to introduce Value Added Tax, Puerto Rico has implemented reforms to establish another effort as it seeks to stabilise its poor fiscal position. The Legislative assembly is now considering the phased withdrawal of the existing Impuesto a las Ventas y Uso tax.  This sales and use tax on B2B sales …


Romania VAT split payments 2018

August 6th, 2017

Romania has published draft laws to introduce anti-VAT fraud split payments on a compulsory basis from 1 October 2017 – although the Prime Minister has indicated the date will be 1 January 2018.  Romania may launch on a voluntary basis before the end of 2017. Split payments divide the amount payable on taxable sales invoices between the net amount …

United Arab Emirates

UAE issues tax and VAT law procedures

August 3rd, 2017

The GCC state of UAE has this week issued a tax Law covering common procedures for taxes. This covers a number of issues related to VAT, which is due to be implemented from 1 January 2018.  The Law covers tax procedures, audits, objections, refunds, collection, and obligations – which include tax and VAT registration, return …