VAT News March 2011

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Australia

proposed simplification of non-resident GST registration requirements

Central Africa Rep

reduced VAT rate of 5% to be scrapped

China

two levies extended to foreign enterprises in addition to VAT and Business Tax

Congo

Democratic Republic to introduce VAT in 2012

Costa Rica

proposes new 14% VAT to replace existing 13% Sales Tax

France

President Sarkozy raises prospect of VAT increase to fund employer tax cut

India

potential 3rd delay to GST implementation

India

Orissa to increase VAT from 12.5% to 13.5%

India

reduced Central Excise Duty rises from 4% to 5%

Japan

Consumption Tax 2-year exemption to be cut to 1-year for traders below JPY 10m

Lithuania

hotel accommodation is now subject to the reduced VAT rate of 9%

Peru

parliament approves 1% cut in VAT rate to 18%

Romania

plans to increase its VAT registration threshold to Euro 50k

South Africa

potential future VAT increase muted in latest budget

Ukraine

accounting, consulting and legal services are exempted from VAT


 
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