VAT news tagged as "Indirect tax"

Bahrain

Bahrain launches 5% VAT October 2018

January 16th, 2018

Newspaper reports claim the Bahraini Ministry of Finance has confirmed that it will launch a 5% VAT regime on 1 October 2018.  Supplies subject to VAT will exclude health care, education and transportation.  There will be a VAT registration threshold of approximately $100,000. Bahrain will be the third member of the Arab Gulf Coordination Council …


India

India may levy 18% GST on bitcoin

July 16th, 2017

India is considering 18% Goods and Services Tax on crypto-currencies, such as bitcoin. A special task force, studying potential tax and regulatory frameworks for bitcoin purchases and sales, is considering fiscal and supervisory issues.  It has already retracted statements indicating that it would seek a complete ban on virtual currencies – the black market in …


India

India first GST filing delay

June 25th, 2017

India’s GST Council has confirmed that the deadline for the first returns under the new Goods and Services Tax (GST) regime is to be delayed by one month. The new regime launches 1 July 2017, and will replace a complex systems of overlapping indirect taxes. Tax payers will have to submit 3 returns per month. Under …


Japan

Japan may delay 2017 Consumption Tax hike

February 26th, 2016

The Japanese government has said that it may delay the planned rise in Consumption Tax from 8% to 10%, scheduled for April 2017. The rise has already been delayed once, in October 2015. This was due to a sharp downturn in consumption following an earlier rise from 5% to 8% in 2014. The planned two-step …


Japan

Fresh doubt on Japanese Consumption Tax rise

August 5th, 2013

New concerns have arisen in the past few days on the resolve of the Japanese government to push forward with the first stage of the doubling of Japanese Consumption Tax to 10%.  Whilst the economy is strengthening, politicians are still nervous of the damage to the recovery and a popular backlash. Japanese Consumption Tax to …