VAT News

South Africa

South Africa raises VAT to 15% April 2018

February 21st, 2018

South Africa today announced an increase in its VAT rate from 14% to 15% on 1 April 2018. This is the first increase in 25 years since the ending of apartheid in the country. Growth in the country has been slowing for a number of years, and the government deficit opening up to 4.3% in …


Italy

Italy Sistema di Interscambio (SDI) real-time e-invoices

February 20th, 2018

Italy has introduced mandatory real-time electronic sales invoice reporting from 1 January 2019. All relevant invoices have to be submitted to the Italian Revenue Agency’s e-invoicing platform, Sistema di Interscambio (SDI). The measure has been required of sales to government bodies since June 2014. SDI effectively acts as an invoice approval portal, ensuring all taxable transactions are …


Singapore

Singapore GST on digital services 2020

February 19th, 2018

Singapore confirmed in today’s 2018 budget that it will subject supplies of B2C digital services from non-resident suppliers to 7% GST. The new charge will apply to downloads of apps, software, games, music, videos and streaming versions of the same.  There will be an annual GST registration threshold of S$100,000. It is anticipated that only …


Singapore

Singapore raises GST to 9% by 2025

February 19th, 2018

In today’s Singapore 2018 budget, it was announced that Goods and Services Tax (GST) will increase from 7% to 9% between 2021 and 2025. GST has been at 7% since July 2007, when it was raised from 5%. The exact timings of the staged rises will be confirmed at a late date, and will depend …


United Kingdom

Avalara Europe is hiring

February 19th, 2018

If you work in EU VAT compliance, Sales, Marketing or Customer Success and want to be part of one of the most exciting stories in tax automation, then we want to hear from you. Being part of every international tax calculation Avalara’s ambition is to take the pain out of indirect tax compliance for businesses, …


Ghana

Ghana to raise VAT to 17%

February 17th, 2018

Ghana has proposed a Value Added Tax rate increase of 2% to 17%. The rate was last increased from 12.5% to the current 15% in  January 2014. Last year, the government introduced a 3% flat rate for small companies.


Europe

EU to audit VAT recovery

February 16th, 2018

The European Commission has launched an audit of the foreign VAT recovery administration of the EU 28 member states. The EC is anxious to see if countries are providing an adequate and efficient cash refund for companies incurring foreign EU VAT on company expenses. It is concerned that delays act as a disincentive to cross-border …


United Kingdom

UK rules chocolate milkshake VAT free but strawberry & banana liable

February 14th, 2018

Today, the UK Upper Tribunal Tax court ruled that Nestlé’s Nesquik chocolate powder milkshake was zero rated for VAT; but strawberry and banana flavor were subject to 20% standard rated VAT. Nesquik milkshake drink powder is available in three flavours: chocolate; strawberry and banana. The chocolate flavor is based on cocoa butter which is zero …