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Belgium: updated requirements on electronic invoice retention procedures
Bulgaria: intra-community supplies included in VAT registration threshold
Czech: new rules on non-resident traders extends the requirement to VAT register
Denmark: overhaul of VAT registration process to comply with EU employment law
EU: progress towards shared database on EU transactions to help cut fraud
Egypt: delays new VAT system replacing Sales Tax due to economic uncertainty
Germany: proposal to scrap the annual VAT return requirement
Iran: suspends new 3% VAT following shop keeper revolt
Ireland: increases rate VAT by 0.5% to 21.5% from Dec 2008 to support fiscal deficit
Japan: improved consumption tax recovery on bad debts
New Zealand: predictions of GST rising from 12.5% to 15% by 2013
Romania: non-EU traders may use indirect representatives for customs clearance
S Korea: new VAT reporting system planned for 2010
Spain: online VAT submissions for non-residents; local bank account still required
Switzerland: proposed single VAT rate now cut to 6%
UK: Tories call for 6-month VAT holiday to help businesses; EU legality unclear
UK: VAT increase suggested as best medium-term solution to fund spiralling deficit
VAT News November 2008
Belgium: updated requirements on electronic invoice retention procedures
Bulgaria: intra-community supplies included in VAT registration threshold
Czech: new rules on non-resident traders extends the requirement to VAT register
Denmark: overhaul of VAT registration process to comply with EU employment law
EU: progress towards shared database on EU transactions to help cut fraud
Egypt: delays new VAT system replacing Sales Tax due to economic uncertainty
Germany: proposal to scrap the annual VAT return requirement
Iran: suspends new 3% VAT following shop keeper revolt
Ireland: increases rate VAT by 0.5% to 21.5% from 1 Dec 08 to support fiscal deficit
Japan: improved consumption tax recovery on bad debts
New Zealand: predictions of GST rising from 12.5% to 15% by 2013
Romania: non-EU traders may use indirect representatives for customs clearance
S Korea: new VAT reporting system planned for 2010
Spain: online VAT submissions for non-residents; local bank account still required
Switzerland: proposed single VAT rate now cut to 6%
UK: Tories call for 6-month VAT holiday to help businesses; EU legality unclear
UK: VAT increase suggested as best medium-term solution to fund spiraling deficit
VAT News October 2008
Czech: VAT groupings permitted from Jan 09
Czech: reverse charge brought into line with EU Directive
Estonia: to raise VAT on a number of products from 5% to 9%
EU: Parliament votes for 15% VAT on intra-community supplies to fight fraud
EU: failure to agree on extending reduced VAT rate for labour-intensive services
Germany: electronic invoices no longer require monthly paper summaries from 2009
Malaysia: GST system may be introduced by 2011
Netherlands: threshold on quarterly VAT returns increased to €15,000 from 2009
Portugal: EU moves to stop withholding tax on non-resident service providers
Romania: to permit VAT refunds to Turkish companies
Russia: Finance Ministry wins the battle to block the proposed VAT cut
Russia: 3rd quarter VAT payments delayed by 3 months to help national liquidity crises
Thailand: extension of 7% GST rate until 2010
VAT News September 2008
Australia: rules out GST increase to fund Company Income Tax increase
Bosnia: potential VAT increase to cover costs of customs integration with EU
Denmark: extension of VAT reverse charge on services from non-resident suppliers
Estonia: talk of raising reduced VAT rate from 5% to 9%
EU: threat to import VAT deferment on immediate onward supplies to combat fraud
Hungary: avoids VAT hike as route to fund deficit
Malawi: VAT rate cut from 17.5% to 16.5%
Netherlands: drops plans for Jan 2009 1% VAT rate increase due to recession fears
New Zealand: increased VAT registration threshold to $50,000 from April 09
Poland: simplification on VAT registrations for warehousing of goods
Poland: improved import VAT set-off scheme for established importers
Poland: facility for temporary trading without need to register with National Courts
Singapore: new GST invoice and receipt requirements
Spain: switch from quarterly to monthly VAT returns proposed
UAE: now may delay VAT introduction to 2010
USA: Arnold Schwarzenegger calls for sales tax increase to fund Californian deficit
VAT News August 2008
Canada: importers may include import royalty as part of deductible duty value
Czech: improvements to VAT laws from 2009
EU: proposing more reduced VAT rates for domestic services e.g. restaurants & DIY
EU: new review on invoice requirements, including exemptions for distance sellers
Finland: 2009 VAT rate cut on food from 17% to 8%
Italy: VAT amnesty ruled unlawful by EU
Jersey: prices up 7% since the introduction of the new 3% GST regime in May
Kazakhstan: a 1% VAT cut to 12% on the cards
Kenya: introduces zero and exempt rates for many new categories
Madeira: following Portugal with 1% VAT rate cut to 14%; now lowest in EU
Portugal: intra-community supply reporting tidied up
Russia: tougher requirements on exporters claiming zero rating on VAT
Singapore: electronic filings of GST returns compulsory from October
Switzerland: draft VAT law confirms proposed single VAT rate of 6.1%
UK: penalty regime for overstated foreign VAT reclaims
UK: compulsory electronic VAT filings on the way
UK: Institute for Fiscal Studies calls for scraping of extensive use of zero rating
Vietnam: new VAT law in place for Jan 2009
VAT News July 2008
Belarus: ratifies VAT treaty with Russia and Kazakhstan
Bulgaria: proposals for 2% cut in VAT quashed due to energy price rises
Estonia: government proposes VAT rise from 18% to 19%
EU: new Mutual Assistance Directive to improve cooperation between tax authorities
EU: reluctance to using VAT cuts to ease burden of rising fuel costs
France: increased information requirements for VAT registrations of non-residents
Gulf: plans for 2012 100% increase for taxes on ‘luxury & harmful’ goods
Italy: abolition of the requirement for annual list of all customers and suppliers
Netherlands: inflation and recession fears may kill off 2009 planned 1% VAT hike
New Zealand: proposals to improve GST neutrality
Pakistan: increased GST and excise duties to meet budget deficit
Portugal: EU pushes to drop formal fiscal rep requirement for non-residents
Russia: Finance Minister says proposed VAT cut would threaten nuclear deterrent
Spain: EU pushes to drop requirement to prove import VAT payments in returns
UK: New guidance on duty suspension for warehousing
Vietnam: VAT laws partially updated to match international standards
VAT News June 2008
Australia: tightening of rules on GST repayments
Canada: widens GST registration net for non-resident traders
EU: infringement proceedings on TOMS for 8 countries
EU: sub-brokers exempt for VAT on insurance contract services
Germany: valid VAT number alone not enough to zero rate intra-community supply
Hungary: rules on tax point (now when invoice paid) creates risks for VAT recovery
India: IT services now to attract service tax
Iran: introduction of VAT late 2008 at 1.5% standard rate
Italy: 100% recovery of VAT on hotel and accommodation now permitted
New Zealand: VAT registration threshold raised to NZD 50,000
Romania: changes to the EC Sales List
Russia: 4% VAT cut proposal gathers momentum
Spain: EU initiates proceedings over delayed VAT reclaims
Spain: initial plans for monthly VAT refunds through returns from 2009
Ukraine: joins WTO, and introduces new duties
UAE: early 2009 is the newest date for introduction of VAT
UK: VAT claims may be transferable to other parties
UK: VAT Central Unit moves to Shipley
US: Amazon sues NY State over new sales tax on internet commerce
US: Government Accountability Office reports on possible VAT systems for the US
VAT News May 2008
Jun 30th – deadline for 2007 VAT reclaims
China: further steps towards EU-style consumption-based VAT system
EU: proposed monthly VAT returns in all countries by 2010 to help combat fraud
Greece: Global financial uncertainties scupper plans for VAT increase
Laos: VAT regime introduction from 2009
Madeira: 1% VAT rate cut to 14% following last month’s Portuguese cut
Malaysia: call for introduction of GST to diversify from dependency on oil
Romania: invoice issuing deadline extend to 15 days after month of taxable supply
UK: ‘unjust enrichment’ rule challenged by EU courts
Ukraine: VAT returns must now include information about customers & suppliers
VAT News April 2008
Australia: Permanent establishment definition widened for more GST registrations
Azerbaijan: VAT on sales now goes straight to State bank account
Bulgaria: Improvements to VAT Act bring local law closer to EU Directives
Bulgaria: Intrastat reporting thresholds increased
Czech: Intrastat reporting thresholds increased
EU: Plans to pilot radical overhaul of VAT system hits postponement
France & Austria: tough new invoice requirements to help cut fraud
Hungary: new clarity on the rules for exempt intra-community suppliers
India: 2% cut in general excise duties; CST cut to 2%
Ireland: new restrictions on VAT relief on bad debts
Poland: plans for reverse charge on consignment stock
Poland: proposal for offset of import against output VAT in VAT return
Poland: potential for quarterly VAT returns with monthly advance payments
Portugal: VAT rate cut from 21% to 20% from 1st July
Sweden: 1 July cut in VAT rate (from 12% to 6%) on hotel accommodation
UK: VAT registration threshold increased to £67,000 on 1st April
Zambia: 1.5% VAT rate cut to 16%
VAT News March 2008
EU: Call for change to monthly EC Sales reporting plus details down to invoice level
EU: Intrastat simplification in 2009: raised thresholds and a single reporting scheme
EU: wholesale restructure of intra-community trade to beat fraud (5 yrs min roll out)
Italy: annual VAT return due 31 July (Oct last year)
Lithuania: Import VAT dropped on certain reverse charge goods
Luxembourg: fiscal representation revived for importers of goods
Malta: Big VAT exemptions granted for hiring of yachts and related services
Romania: Dropping of import VAT guarantee for goods held in suspension
Russia: Putin wants VAT cut from 18% down to 13%-10%; Finance Ministry objects
South Africa: new VAT registration process and higher registration threshold
Spain: admonishment from EU for delays on VAT refunds
Thailand: suspended VAT increase now delayed further 2 years
UAE, Saudi Arabia, Bahrain, Qatar, Kuwait Oman: inflation threatens VAT launch
USA: New York pushing for sales tax on internet sales of goods
Vietnam: proposed replacement of current 10% VAT for two rates: 10% and 5%
VAT News February 2008
Australia: Changes and clarifications to non-resident GST obligations
Bosnia: IMF calls for VAT rate cut from 17% to 12% to alleviate economic crises
Bulgaria: VAT Act updated
Belgium: electronic filing for import agents; importer may still file paper
Egypt: new VAT system may start at 6% standard rate
France: French Prime Minister backs away from VAT increase in 2008
France: invoices for certain exempt supplies not required
Hungary: considers VAT increase in 2009 from 20% to 22-24% (reversing 06’s cut)
India: proposed 1% increase in central VAT to 5%
Jersey: starts staggered registration scheme for May 2008’s launch of GST
Netherlands: IPT rate increases to 7.5%
Philippines: no VAT on oil products proposed
Poland: potential interest payments for delayed VAT reclaims
Russia: Finance Ministry continues to block VAT rate cut or switch to a sales tax
Slovenia: drops fiscal rep requirements for non-resident traders
Spain: VAT on imports now deductible in VAT return following importation
Syria: VAT introduction delayed by 1 year to 2009
Thailand: proposals for staggered increase in VAT from 7% to 10%
UN: calls for an in/direct tax agency to help regulate global regimes
UK: VAT costs between 1973 and 1996 reclaimable following Conde Nast case
USA: Treasury & Huckabee float idea of a VAT system to help cut corporate taxes
Uzbekistan: clarifies VAT place of supply rules
Venezuela: denies planned VAT increase following the two cuts of 2007
VAT News January 2008
Austria: new VAT return form from this month
China: pondering new VAT law to replace current system of regulations
Dubai: denies a rush to introduce VAT system prior to 2009
EU: compromise allows introduction of telecoms & broadcasting VAT reforms
EU: one stop shop for EU VAT recovery
EU: reduced rate extensions for: Czech; Cyprus; Malta; Slovenia and Poland
EU: Financial Services to get a new VAT Directive, helping deductibility on inputs
France: Possible new 12% VAT rate (standard VAT rate increase debate continues)
Greece: floats idea of VAT increase from current 19% to meet 2008 budget shortfall
India: States agree on common coding for goods as further step to VAT unification
Ireland: registration threshold increased to €37,500 (services) and €75,000 (goods)
Japan: again postpones consumption tax increase until after election
Kazakhstan: VAT rate drops 1% to 13%
Nepal: dual rate VAT proposed
Russia: switch to quarterly VAT reporting
Russia: move from cash to accruals basis completes
Slovakia: new VAT act enacted
Slovenia: new VAT return form from this month
Switzerland: proposal for introduction of a single VAT rate by 2011
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