VAT news tagged as "VAT changes"


Hungary VAT changes

July 18th, 2018

Hungary has proposed a range of VAT changes for January 2019, including: Single-purpose vouchers where the underlying taxable supply can be determined must be taxed at the point of sale. Multi-use vouchers are not taxable at sale; instead at the point of redemption. This is in line with new EU guidance. VAT on ESL and …


Global VAT changes 1 July 2018

July 1st, 2018

Below is a summary of major VAT and GST changes that come into effect on 1 July 2018: Australia drops GST-free levy on small goods, and requires non-resident e-commerce companies to register if over the threshold of AU$ 75,000 per annum Bahamas raises VAT to 12% The introduction of Polish Split Payments Hungary introduces live …

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.


Italy VAT update

June 24th, 2017

A range of changes to the Italian VAT regime have now been enacted, including: A commitment to VAT rate rises if the government fails to meet its Euro budget rules: Restricted VAT credit applications to the annual return due in the following year.  This will apply for the 2017 annual return, due in 2018. A …


Ghana VAT changes

March 3rd, 2017

The proposed 2017 budget for Ghana has introduced a number of changes to the indirect tax regime.  These include: Exemption from VAT for financial services New VAT rate of 3% for certain businesses as opposed to the standard rate of 15%, which was introduced in 2014 Exemption from VAT for real estate transactions Exemption from …

South Africa

South Africa VAT changes

February 24th, 2017

The South African 2017/18 budget last week failed to introduce a VAT rise as had been anticipated.  However, it did introduce a number of changes, including: International travel insurance will be nil-rated for VAT Fuel supplies to be nil-rated for VAT The supply of cloud computing services to consumers by non-residents will now be subject …


Bulgaria VAT changes

October 23rd, 2016

The Bulgarian Ministry of Finance has issued a number of proposed changes to the Value Added Tax regime. These include: New guidance on issuing credit notes on advances and deregistered VAT payers Extending the tour operator margin scheme to single tourist service supplies Changes in the time of supply rules of goods supplied under lease agreements …


Swiss VAT changes

October 7th, 2016

The Swiss Parliament has ratified a number of changes to the VAT Act, effective 1 January 2018. These include: Applying the reduced 2.5% VAT rate to online media The place of supply for domestic electricity, gas and telephony becomes the residency of the consumer Introduction of a CHF 100,000 VAT registration threshold for branches of …


Mauritius VAT changes

August 6th, 2016

The new Mauritius 2016/17 budget has introduced a range of VAT changes – although the standard VAT rate of 15% remains unchanged. The principle changes include: Relief at VAT deregistration for VAT claimed in prior periods B2B Services supplied by non-resident suppliers are now subject to 15% VAT VAT remittances should now be electronic wires …


Italy misses EU 2015 digital services VAT implementation deadline

January 3rd, 2015

Italy failed to complete by 1 January 2015 the final hurdle for the implementation of the new 2015 EU-wide VAT rules on sales of electronic, broadcast and telecoms services to consumers. The Italian government had agreed on the proposed decree, but the necessary Parliamentary Committee has not yet reviewed it. Once this is done, the …