VAT news tagged as "VAT change"

Czech Republic

Czech 10% reduced VAT rate changes

June 14th, 2018

The Czech Ministry of Finance has proposed changes to goods which will be subject to its reduced VAT rates of 10%. The current standard VAT rate is 10%. The goods proposed to be re-categorised include: Catering services Certain professional services Tobacco products Non-beer alcoholic beverages The change would be implemented on 1 January 2019.


Montenegro

Montenegro 21% VAT 2018

August 26th, 2017

The VAT law in Montenegro has been updated by the parliament to include a rise in the VAT rate from 19% to 21%.  The change will come into effect on 1 January 2018. The place of supply rules for services have also been changed on B2B supplies has been changed from the location of the …


Vietnam

Vietnam VAT 12% proposal

August 25th, 2017

The Vietnamese Finance Ministry has proposed rising the VAT rate from 10% to 12%. If approved, the new rate would apply from 1 January 2019. In addition, there would be a further potential rise to 14% in 2021 according to the proposal.  


Egypt

Egypt VAT rises to 14%

June 29th, 2017

The Egyptian VAT rate rises from 13% to 14% on 1 July 2017. Egypt introduced VAT in 2016 at 13%.  It replaced a 10% Sales Tax.  The plan had been to raise VAT to 14% in October of this year, but a worsening fiscal environment forced the rise to be brought forward.


Spain

Spanish VAT changes

June 26th, 2017

Several taxable services in Spain have been re-categorised from the standard 21% rate to the reduced 10% rate. These include: Live cultural events, including bullfights Live entertainment events The changes are live with effect from today.


Bangladesh

Bangladesh VAT update

June 8th, 2017

Bangladesh’s 2017 budget includes a number of changes to the VAT regime.  These include: A new 4% turnover tax will be levied on businesses with a turnover below BDT15million The VAT registration threshold will rise to BDT15 million per annum from BDT8million A range of basic foods, agricultural supplies, public transport, pharmaceuticals, education and medical …


Azerbaijan

Azerbaijan VAT changes

January 6th, 2017

Azerbaijan introduced a range of VAT amendments to its TAX code. These included: Where e-services are provided to a local consumer by a non-resident entity, the local bank processing the payment must withhold the VAT on the payment. Electronic invoices are required to be issued by all businesses with a taxable turnover above AZN 200,000 per …


Japan

Japanese Consumption Tax (VAT) rise to 10% delayed

November 19th, 2014

Plans for a second rise in the Japanese Consumption Tax rate in October 2015, taking it to 10%, are to be put on hold.  The Prime Minister of the country, Shinzo Abe, has called a new election for a mandate to delay the VAT rise until the economy is more stable. The rise, planned for …


China

China VAT rates update

August 7th, 2014

As Chinese VAT reform progresses, below is an update of the major VAT and Business Tax rates in place today. ‘Old’ Chinese VAT rates on goods Standard Rate: 17% Reduced Rates: 13% and 6% Exports: 17% or nil – see export credit scheme Imports: 17% or 13% Reformed VAT rates Postal, Transport, Telecoms voice rates: …