VAT news tagged as "Value added tax"

Europe

EU e-commerce VAT plan

December 1st, 2016

On 1 December, the European Commission issued a range of measures to simplify the EU VAT regime, and make compliance easier for e-commerce. These will need to be agreed in full with the 28 member states. The measures include: 2017 Permitting member states to levy the same, reduced VAT rates on electronic books and journals …


Zambia

Zambia VAT update

November 20th, 2016

The 2017 Budget includes a number of proposed changes to the Zambian VAT rules. These include: Abolishment of the group VAT scheme Restrictions on the right to deduct input VAT on certain pre-registrations costs Introduction on new online filings process Reduction in the right to deduct input VAT on certain mobile phones, media equipment, fuels …


Finland

Finland to launch VAT cash accounting

September 3rd, 2016

Finland plans to introduce cash accounting basis for VAT reporting. This would mean taxpayers only declaring and paying VAT on sales (output VAT) when the receivable has been collected. There is no scheduled date for the launch of the regime.  It would likely only be offered to small businesses.


India

China VAT and India GST rivalries

August 15th, 2016

2016 will go down as the year that the world’s two most populous countries pushed ahead with fundamental indirect tax reforms to boost their internal markets and global rivalry. It is worth contrasting the reforms to see how the implementation of GST and VAT reforms for India and China respectively will work to understand their …