VAT news tagged as "Tax reform"

Europe

Brexit UK to benefit from EU VAT reforms

October 14th, 2017

Post-Brexit UK businesses may receive an unexpected benefit from recently announced proposals to create a single EU VAT regime in 2022. The potential introduction of a reforming destination-based VAT system will mean the UK’s loss of zero VAT rating on EU exports/imports after Brexit will be cancelled out.  This could neutralise up to £85bn on recoverable …


China

China VAT and Service tax reform plans in Shanghai

November 18th, 2011

New proposals for Chinese VAT and Business Tax reforms Plans for a 2012 pilot in Shanghai to consolidate the overlapping VAT and Business Tax have been published by the Chinese State Administration of Taxation.  The reform is aimed at simplifying the tax system. The reforms concentrate on reclassifying many services currently liable to Business Tax …