VAT news tagged as "Nil"

Switzerland

Switzerland exempts bitcoin from VAT

June 17th, 2015

Switzerland is to become the latest European country to exempt the trading of digital currencies, such as bitcoin, from VAT. The decision, to be made public by the Swiss Federal Tax Administration, underlines the view of the majority of tax administrations that virtual currencies are private money for the exchange of goods and services. They …


Kenya

Kenya VAT changes

June 12th, 2015

The new 2015/16 budget for Kenya includes a number of VAT changes, including: Good in transit will be nil rated instead of exempt from VAT, meaning input suffered will be recoverable VAT credits in returns will be refundable within 12 months of application Goods provided for the construction of capital works in industrial estates will …