VAT news tagged as "VAT"

Bahrain

Bahrain launches 5% VAT October 2018

January 16th, 2018

Newspaper reports claim the Bahraini Ministry of Finance has confirmed that it will launch a 5% VAT regime on 1 October 2018.  Supplies subject to VAT will exclude health care, education and transportation.  There will be a VAT registration threshold of approximately $100,000. Bahrain will be the third member of the Arab Gulf Coordination Council …


Oman

Oman delays VAT till 2019

December 25th, 2017

Oman has declared that it will not implement Value Added Tax until at least 2019. The delay has been proposed to allow more time for businesses to prepare for the launch of the new indirect tax. Tariffs on some goods, including cigarettes and carbonated drinks, will go ahead in 2018. The country is one of …


Brazil

Brazil to implement VAT

August 21st, 2017

Brazil has confirmed that it plans to consolidate its existing complex indirect taxes into a single, state-wide Value Added Tax regime.  A single excise tax regime will be introduced at the same time. The aim is to significantly reduce the complex consumption tax regime, and eliminate double taxation.  The Brazilian Ministry of Finance currently estimates …


Puerto Rico

Puerto Rico Sales and Use Tax

August 9th, 2017

Following last year’s abandoned attempt to introduce Value Added Tax, Puerto Rico has implemented reforms to establish another effort as it seeks to stabilise its poor fiscal position. The Legislative assembly is now considering the phased withdrawal of the existing Impuesto a las Ventas y Uso tax.  This sales and use tax on B2B sales …


Israel

Israel levies VAT on bitcoin

January 17th, 2017

The Israeli tax office has confirmed that trading in bitcoin is subject to 17% VAT. The announcement confirms that virtual currencies, such as bitcoin, are to be regarded as tradable assets and therefore subject to direct (income tax and capital gains tax) and indirect taxes (VAT or GST) on transactions. This compares to the EU, …


India

India GST risks delay till Sept

January 15th, 2017

Plans for the implementation of a new Goods & Services Tax by April 2017 now look uncertain. The latest potential launch date looks likely to be set to September. Discussions between the Centre and the 29 states have stalled on the vexed question of dual control over the sharing of the tax to the taxable …


India

India GST negotiation battles

November 21st, 2016

In the run-up to the 2017 implementation of a Goods and Services Tax in India, the Centre government and States continue to fail to conclude key administrative terms. Currently, negotiations has stalled around whether the Centre or State administers the assessees, the taxable person responsible for paying the GST.  The States are looking to remain …


India

India GST possible delay

November 11th, 2016

The Indian finance minister has hinted that the roll out of the new Goods and Services Tax (GST) may be delayed from April to September 2017. The new indirect tax was finally approved by the Parliament earlier this year after over 10 years of debate. It will replace a complex set of consumptions taxes, including …


New Zealand

New Zealand GST price rises e-services

October 5th, 2016

From 1 October 2016, non-resident providers of e-services to consumers resident in New Zealand are required to charge GST at 15%. An immediate outcome is a rise in the prices of these types of services, which includes fees for: streaming films, TV, music and games; e-books; membership to online clubs; software; and apps.  Netflix, for …