VAT news tagged as "Export"

United Kingdom

Automating the Tax Tangle of Exports

January 16th, 2018

Exports are of vital importance to any open economy and are worth £511 billion to the UK (in gross terms). Looking to capitalise on the improvement in global connectivity, the UK government urged businesses to make 2017 the ‘Year of Exporting’ – a theme that we expect to see extend into this year. Exports and …


Vietnam

Vietnam VAT changes

April 29th, 2016

The Vietnamese General Department for Taxation has clarified two areas for VAT compliance Input VAT – there will be no provision for transport input VAT relief if sales agreement or invoice is signed after any export VAT on discounts – VAT invoices should be issued where vendors give purchases additional goods or stocks for bulk …


China

China extends zero-rated VAT export services

November 7th, 2015

The Chinese Ministry of Finance last month updated the range of export service which are entitled to not charge VAT on, but continue to reclaim any input Chinese VAT on. Prior to this announcement, most of the targeted services had been exempt from VAT, meaning there was no possibility to recover any input VAT incurred. …


India

India GST on services

September 17th, 2015

As India continues to debate its implementation of a Goods & Services Tax (GST) to replace its VAT regime, guidance has been provided on the place of supply rules for services. The place of supply refers to where a taxable supply is subject to VAT. When goods or services are provided across state of country …


Pakistan

Pakistan raises GST / Sales Tax on exports

June 4th, 2014

The antiquated Pakistani Goods & Services Tax (GST) regime has drawn fresh criticism with plans to hike the GST / Sales Tax rate on exports from 2% to 5%. Pakistan’s GST regime is due for reform, with the implementation of a full Value Added Tax regime based on OECD recommendations being planned. However, in the …


China

Chinese exporters gain VAT refund prolongation

April 20th, 2014

The Chinese State Administration of Taxation has granted an extension for Chinese exporters to apply for VAT refunds. Chinese export VAT refunds Companies which export from China can register to become approved for Chinese VAT input reclaims – VAT Export Refund. The enables the exporter to reclaim all standard VAT rate charges through a regular …


Vietnam

Vietnam VAT export and invoices changes

April 5th, 2014

Vietnam VAT export and invoices changes A number of new decrees have been issued providing for changes to the Vietnamese VAT regime. The changes cover VAT invoices and the export VAT rules. Key changes to the Vietnam VAT rules include: The existing non-PE rule for the customer to prove zero-rating on services has now been …


United Kingdom

UK consultation on simplifying and modernising Intrastat

January 25th, 2014

The UK’s HMRC released this week a consultation on ideas to simply and modernise Intrastat filings. EC to ease Intrastat compliance burden The consultation has been launched off the back of an EU initiative from Eurostat to reduce the compliance requirements for Intrastat.  Intrastat is the reporting schedule EU VAT registered companies must complete to …


China

Chinese VAT refunds for e-commerce exporters

January 16th, 2014

The Chinese Ministry of Finance has clarified the Chinese VAT refund process for Chinese online retailers selling outside of the country.  The new guidance covers Chinese enterprises selling via their own website or through the website platforms of others (e.g. Amazon). Currently, Chinese input VAT is levied at 17% along the production chain.  Import VAT …