Singapore GST on foreign e-services Jan 2020Category:

Singapore

Singapore GST on foreign e-services Jan 2020

June 13th, 2018

Singapore has updated its plans to levy its 7% Goods & Services Tax on B2B digital services provided by non-residents to consumers from 1 January 2020. This includes providers such as Airbnb, Amazon Prime, Netflix, Apple Music and other streaming media, gaming and app providers The city-state has confirmed that B2B transactions from foreign companies will …


India

India GST rate rationalisation

June 11th, 2018

India is on track to cut the number of Goods & Services Tax (GST) rates from four to three – excluding zero-rated supplies. The current rates are: 28%; 18%; 12% and 5%. The Finance Minister, Shiv Pratap Shukla, said on 8 June that details will be published in the forthcoming weeks. India GST complexity The Indian …


Aruba

Aruba raises sales tax July 2018

June 2nd, 2018

Aruba’s parliament has passed a rise in sales tax. The existing 1.5% business turnover tax will rise to 3%. The country’s health tax will rise from 2% to 3%. There will be a new crisis levy of 2.5%, taking the total turnover tax burden 6%. The new rates will apply from 1 July 2018, and …


India

India to levy 18% GST on bitcoin Jul 2018

May 23rd, 2018

India’s Central Board of Indirect Taxes and Customs is considering a proposal to make digital currency trading subject to Goods and Services Tax at 18%. The new liability may fall due from 1 July 2018. In this case, India would be classifying cryptocurrencies, such as bitcoin, as a physical asset rather than as a currency for …


Malaysia

Malaysia scraps GST June 2018

May 16th, 2018

The new Prime Minister of Malaysia has committed to withdrawing the 6% Goods and Services Tax, setting it at zero from 1 June 2018. It will be replaced by a more limited Sales and Services Levy – a sales tax. PM Mahathir Mohamad has promised to withdraw the consumption tax, which was only introduced in April …


Australia

Australia GST on foreign hotel organisers

May 11th, 2018

Australia is to impose 10% Goods and Services Tax on non-resident sellers and agents of Australian hotel accommodation. The vendors will only be liable to charge GST if they exceed the local registration threshold, currently AU$75,000 per annum. The proposal was included in the the 2018/19 Australian budget, published today. This change will come into …


India

India GST filings reform

May 7th, 2018

The Indian GST Council, which oversees the operations of the indirect tax regime, agreed last week to reform monthly filings by the end of 2018. It also agreed to bring under full governmental control the GST Network (GSTN), the IT platform tax  payers file through. End of multiple GST Returns filings GST was launched in India in …


New Zealand

New Zealand scraps GST import threshold 2019

May 1st, 2018

New Zealand is considering withdrawing its low-value consignment stock threshold for import Goods and Services Tax from 1 October 2019. The proposed measure would help reduce tax evasion, and level the playing field for local retailers. A public consultation has now been launched to consider the effects of the measure. Currently, goods bought from foreign online …


Australia

Australia GST on e-commerce 1 July 2018

April 26th, 2018

From 1 July 2018, 10% GST is due on all goods sold by foreign online retailers to Australian consumers. Once the non-resident e-merchant sales more than AUS$75,000 per annum, they must GST register with the Australian authorities, file and pay any tax due. It is estimated that over 3,000 foreign companies will have to register for …