India GST flaws may force single return simplificationCategory:

India

India GST flaws may force single return simplification

February 17th, 2018

The Indian Goods and Services Tax Council may in early March consider simplifying the new, complex Goods and Services Tax (GST) filing requirements in the face of IT difficulties. GST was introduced to India in July 2017, replacing a labyrinth of complex and overlapping indirect taxes. Its aim was to reduce compliance and encourage intra-state …


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 …


Latvia

Latvia new 5% reduced VAT

December 13th, 2017

Latvia’s Ministry of Finance has confirmed plans to introduce a new, super reduced VAT rate of 5% from 1 January 2018. The new rate will apply to a range of locally produced vegetables and fruit. Under the provisions of the EU’s VAT Directive, EU member states may have two reduced VAT rates which should be at …