VAT news tagged as "Delays"

Lithuania

Lithuania SAF-T July 2018

March 14th, 2018

Lithuania is to launch its delayed Standard Audit File for Tax (SAF-T) in July 2018. SAF-T was original introduced to the country in 2016 for invoice listings and transport documentation. But this was effectively just an e-invoice reporting requirement. The third requirement, SAF-T accounting transactions, was delayed from 1 January 2017. Initially, only resident companies …


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 …


United Arab Emirates

UAE delays first VAT returns

January 23rd, 2018

The United Arab Emirates Federal Tax Authority has relaxed the initial filing dates for the new VAT regime, launched on 1 January 2018. This is to provide businesses, particularly smaller enterprises, time to adjust to the new indirect tax. Under the new VAT regime, businesses with a turnover above DH150million are required to file monthly …


Oman

Oman delays VAT till 2019

December 25th, 2017

Oman has declared that it will not implement Value Added Tax until at least 2019. The delay has been proposed to allow more time for businesses to prepare for the launch of the new indirect tax. Tariffs on some goods, including cigarettes and carbonated drinks, will go ahead in 2018. The country is one of …


Norway

Norway SAF-T 2019 delay

November 6th, 2017

Norway looks likely to delay the January 2018 introduction of mandatory Standard Audit Files for Tax (SAF-T) until at least 2019. Currently, the production of Norwegian SAF-T files has been a voluntary obligation since January 2017. The plans were to make this mandatory from 1 January 2018.  Files would not be required with each VAT …


Bahrain

Bahrain VAT launch set back

November 5th, 2017

A key parliamentary committee, Financial and Economic Affairs Committee, in Bahrain has rejected latest tax reform proposals, including plans to introduce VAT. The rejected Bill included launching VAT in accordance with Bahrain’s sign-up to the Gulf Cooperation Council’s (GCC) Agreement on VAT.  The House of Representative committee vetoed it on the grounds that it contains sweeping …