VAT News - August 2009

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Canada

: British Columbia latest province to introduce Harmonised Sales Tax

Croatia

: VAT increased by 1% to 23% under IMF pressure

Czech

: electronic EC Sales Lists to be mandatory from 2010

EU

: radical proposals to change definition on FS out sourced services exemption

EU

: new anti-fraud Directive on importing with onward supply relief

EU

: new plans for European VAT groupings to help combat fraud

France

: insisting on electronic copies of VAT recovery invoices under 2010 reforms

Hungary

: hotel accommodation goes to 18% VAT

India

: reaffirms new State & Federal GST systems launch for April 2010

Lithuania

: parliament agrees to second VAT increase this year (23% from Sept 09)

Romania

: introduces electronic system to speed-up credit repayments

Spain

: rejects proposal to increase VAT in 2009 due to weak economic growth

Spain

: tightens criteria on PE for VAT registrations by non-residents

Switzerland

: further harmonisation with EU on place of supply rules

Taiwan

: government officials admit to reviewing 1% VAT increase to 6%

Turkey

: VAT on 'superior' restaurants increased from 8% to 18%

UK

: Conservative think-tank, CEBR, calls for 20% VAT to solve fiscal deficit

UK

: joins France and Holland in zero rating VAT on carbon credit trading

 
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