VAT news tagged as "GST"

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 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 …


Guam

Guam 2% General Sales Tax 2019

April 2nd, 2018

Guam is to launch a 2% General Sales Tax on the provision of goods and services from 1 January 2019. Financial Services will be exempted from the new consumption tax.


Malaysia

Malaysia 2018 GST changes

January 2nd, 2018

The Malaysian 2018 Budget introduced a number changes to the Goods and Services Tax regime. These include: Reclassifying the sale of newspapers, journals and books as nil-rated Exempting local government services from GST Exempting from GST management and maintenance services for certain housing development. The above changes came into effect on 1 January 2018.


Canada

Canada GST changes

September 14th, 2017

Canada has made a number of proposals to change its Goods and Services Tax (inc Harmonised Sales Tax), including: Extend the GST liability to limited partnership investments Update GST rules on drop shipments Update the rules on GST for public transit services Modify pensions liable to GST to include those using master trust or corporations …


India

India first GST returns due 20 September

August 1st, 2017

Following the 1 July launch of India’s new Goods and Services Tax regime, the first monthly returns become due shortly. Almost 8 million businesses will be required to file. Generally, the three-stage GST process should be completed by the 20th of the month following the month of transactions. However, the first filing, due 20th August, …


Singapore

Singapore 7% GST e-services review

July 19th, 2017

Singapore is reviewing introducing the obligation for non-resident providers of goods and electronic services consumers to charge 7% Goods and Services Tax (GST). GST is now the country’s second major tax, and there has been an increasing reliance on indirect taxes.  In line with this, the government is eager to ensure the burgeoning e-commerce market …


India

India Kashmir joins GST launch

July 13th, 2017

The last of the 29 Indian states to implement GST, Jammu and Kashmir, approved the introduction of the new consumption tax one week after the national launch. Kashmir has its own constitution, so was permitted to miss the 1 July launch of the new Goods & Services Tax.  GST has consolidated over 20 sales taxes, …


India

India GST goes live 1 July 2017

July 1st, 2017

India most significant tax reform, the introduction of a single Goods & Services Tax (GST), goes live today. The GST regime will replace over 20 overlapping indirect taxes – including VAT, CENVAT and Service Tax.  It will unite India’s 29 states with a single regime, simplifying compliance and eliminating double taxation to potentially boost the …


India

India drops e-Commerce withholding GST

June 28th, 2017

India has postponed a 1% Goods and Services Tax (GST) withholding tax on sales of goods and services on e-Commerce marketplaces.  The tax, Tax Collected at Source (TCS), was planned to be introduced with the 1 July 2017 launch of GST, which is replacing a range of overlapping indirect taxes. The Delhi government had planned …