South Korea: Introduction of Self-Billing Invoices
South Korea’s latest Tax Reform proposal has recently been approved, and introduces several new measures for the year 2023, among which is the possibility of
Region: Asia Pacific
India: New Invoice Reporting Portals
The Indian Goods and Services Tax Network (GSTN) has announced that new Invoice Reporting Portals (IRP) have been onboarded. IRPs act as a bridge between
Singapore Government to Mandate InvoiceNow for B2G E-Invoicing
On February 24th, the Senior Minister of State, Mr. Chee Hong Tat, announced that within the next few years, InvoiceNow will become the default e-invoice submission channel
Pakistan Sales Tax Rate Increase to 18%
Pakistan approved an increase to the standard sales tax rate to 18% from 17% through the Finance (Supplementary) Bill, 2023. The Bill, as posted on
China: Expansion of the fully digitalized e-invoicing pilot program
China is expanding its fully digitalized e-invoicing (e-fapiao) pilot program, currently as of 1 January 2023 in scope to issue a fully digitalized e-fapiao are
Value Added Tax
Singapore updates Low Value Goods GST policy
Singapore’s new Low Value Goods (LVG) rules came into effect at the beginning of the year. As of 1 January 2023, private consumers in the
Electronic Invoicing
Thailand: E-tax filing
Thailand has permitted e-invoicing since 2012. From 2017 – following regulations issued on e-tax and e-receipts – taxpayers may prepare, deliver, and keep their invoices
China Small-Scale Taxpayers Rate Reduced
China announced the 3% VAT rate normally applied for small-scale VAT taxpayers will be reduced to 1% from January 1, 2023 to December 31, 2023.
China Extends Small Business VAT Exemption
On January 9, 2023 China announced an extension to the small business exemption from VAT. From January 1, 2023 to December 31, 2023, small-scale VAT
China’s Exemption for Small Business Taxpayers was set to expire on 31 December 2022
China previously announced from 1 April 2022 to 31 December 2022, small-scale VAT taxpayers would be exempt from VAT on taxable sales income subject to
Palau GST Implementation effective 1 January 2023
Palau is implementing a VAT style tax known as the Palau Goods and Services Tax (PGST). The PGST will be imposed at a rate of
Singapore is extending GST to imported Non-Digital Services and Low-Value Goods effective 1 January 2023
Effective 1 January 2023, Singapore will be extending GST to B2C imported non-digital services and goods imported via air or post that are valued up
Vietnam Standard VAT Rate Increase effective 1 January 2023
Pursuant to Decree No. 15/2022/ND-CP, the standard VAT rate in Vietnam is increasing to 10% from the temporary 8% rate effective 1 January 2023. The
Singapore Standard Rate Increase effective 1 January 2023
Singapore’s Parliament passed a bill increasing the goods and services tax by 1 percent. The standard GST rate will be increasing to 8% from 7%
Uzbekistan Standard VAT Rate Decrease effective 1 January 2023
The Uzbekistan State Tax Committee issued a Press Release on September 19, 2022, regarding changes in the VAT rates as per the head of state.
Maldives GST Rate Increase effective January 1, 2023
On November 22, 2022, the Deputy Commissioner General of Taxation published Circular 220-TD/CIR/2022/04 increasing the general goods and services tax rate from 6% to 8%.
New Zealand: introduces changes to GST invoicing requirements
New Zealand is implementing changes to its GST invoicing and record keeping requirements, which are set to enter into force from April 1, 2023. These
Electronic Invoicing
eGUI: Taiwan’s Approach to Electronic Invoicing
Since 1 January 2019 foreign electronic service providers must issue electronic invoices, a type of e-invoice, for sales of electronic services to individual buyers in