Aruba raises Turnover Tax to 3%Category:

Aruba

Aruba raises Turnover Tax to 3%

April 7th, 2018

Aruba is to increase its Business Turnover Tax ‘Belasting op Bedrijfsomzetten’ from 1.5% to 3%. This rise will take place on 1 July 2018. The indirect sales tax is levied on the supply of goods or services in the country. Unlike VAT, it is not charged on imports.


Puerto Rico

Puerto Rico cuts Sales Tax to 7%

April 4th, 2018

Puerto Rico has announced on 2 April a new fiscal budget which includes plans to cut its Sales and Use Tax from 11.5% to 7%. The rate for professional services will be reduced to 3% from 4%.  There are also cuts to the corporate and personal income tax rates. The consumption tax rate cut is …


India

India relaunches e-way bill GST

April 2nd, 2018

India has relaunched this week its intra-state goods movement recording system, e-way bill. This requires transporters to electronically register with the GST Network any movements of goods across on the Indian 29 states’ internal borders. This system enables states to record GST liabilities since the July 2017 move to taxation in the place of destination. …


Guam

Guam 2% General Sales Tax 2019

April 2nd, 2018

Guam is to launch a 2% General Sales Tax on the provision of goods and services from 1 January 2019. Financial Services will be exempted from the new consumption tax.


Quebec

Canada Quebec B2C digital services sales tax

March 30th, 2018

Quebec is to become the first Canadian province to levy its consumption tax, Quebec Sales Tax (QST),  on non-resident providers of digital services to Quebec-resident consumers. This measure is targeting foreign digital services providers such as Netflix, Amazon Prime, Google Play, Apple Music and Skype. QST is currently levied at 9.975%. In September 2017, the Canadian federal government …


India

India GST requires more work

March 22nd, 2018

The July 2017 new Goods and Services Tax (‘GST’) regime was an ambitious reform of a complex, and business unfriendly tax regime. But more reforms to the GST system are required if it is to realise its potential to liberalise intra-state trade in the country. Areas for focus in the next months will include: Simplify …


India

India delays again GST fixes

March 11th, 2018

The Indian GST Council has again delayed fixes to the newly launched Goods & Sales Tax system, introduced on 1 July 2017. Taxpayers will continue the existing GSTR-1 and GSTR-3B filings for a further three months, covering April to June 2018.  A decision on the simplification of the problematic new indirect filings system is still proving …


India

India to relaunch e-Way Bill Apr 2018

March 10th, 2018

India is expected this weekend to announce the relaunch of its e-Way Bill pilot from 1 April 2018. The scheme, which requires the electronic registering of the movement of goods across intra-state borders, was withdrawn within a few days of its launch in February due to excess demand. Simplifications to avoid a further crash in the …


Singapore

Singapore GST on digital services 2020

February 25th, 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 …