VAT news tagged as "Consumption tax"

Iran

Iran replaces VAT with Consumption Tax

February 9th, 2017

A new Consumption Tax, only payable at the final point of sale to a consumer, has been proposed in Iran. It would replace the existing VAT regime which is vulnerable to fraud in the supply chain.  VAT was introduced into Iran in 2009, and is currently set at 9%.


China

China raises foreign e-commerce tax

April 4th, 2016

China has this week effectively raised the ‘Parcel Tax’ regime on consumer purchases of goods from foreign sellers on major e-commerce platforms. Chinese Parcel Tax rises The measure is designed to raise taxes on foreign website purchases by Chinese consumers, and provide a level playing field for China-based online and traditional high-street sellers. Aside from …


China

China e-commerce VAT

February 5th, 2016

The Chinese state council has extended the VAT programme on e-commerce to a new group of cities. The programme enables nominated cities to allow online shoppers to buy online without paying customs duties, consumption tax and VAT. This leaves only a reduced parcel duty to be paid. The Chinese government plans to harmonise the reduced rates …


Brazil

Brazil fails on ICMS tax reform

April 12th, 2015

The Brazilian government has failed last week in its latest attempts to gain agreement between the 27 States on the reform and harmonisation of the ICMS / VAT regime. The antiquated intra-state tax is seen as a major constraint to developing an internal free market and helping the Brazilian economy recover from its latest recession. …