VAT news tagged as "Tax rise"

Japan

Japan confirms 2019 Consumption Tax hike

October 14th, 2018

Japan is to confirm this week its plan to complete the second rise in its Consumption Tax, from 8% to 10% in October 2019.  The first hike, in 2014 from 5% to 8% was blamed for a sharp rise in inflation and tipping the world’s third largest economy into recession. This latest rise has already …


Aruba

Aruba raises Sales Tax July 2018

June 2nd, 2018

Aruba’s parliament has passed a rise in sales tax. The existing 1.5% business turnover tax will rise to 3%. The country’s health tax will rise from 2% to 3%, taking the total turnover tax burden 6%. There will be a new crisis levy of 2.5%. The new rates will apply from 1 July 2018, and …


Japan

Japan 10% Consumption Tax Oct 2019

April 15th, 2018

Japan is continuing to prepare for a rise in its Consumption Tax from 8% to 10% on 1 October 2019. The planned rise has already been delayed once, in 2016. It is the second in a long-planned doubling of the tax – the first from 5% to 8% coming in 2014. The OECD has warned this month that …


Italy

Italy still debating 1 July 2013 1% VAT rise

June 18th, 2013

The various political parties are still arguing over the go ahead of the planned Italian 1% VAT rise on 1 July 2013. The People of Freedom party, led by the ex-PM, Silvio Berlusconi, contends that the austerity VAT rise is not necessary.  It also argues that the IMU property tax is not required.  These combined …


Pakistan

Pakistan new rumours of rise in GST to 17%

June 14th, 2013

A fresh round of rumours has started in Pakistan surrounding a potential rise in the Goods & Services Tax (GST) from 16% to 17%.  There have been many such proposals over the past two years as the country attempts to control its national deficit. In addition to increasing the Pakistan GST rate to 17%, it …