Regulatory Analysis
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 a 3% levy rate. The exemption was set to expire on 31 December 2022. The original announcement can be found here.
Bulgaria has extended the temporary reduced VAT rate in Bulgaria due to Covid-19 through Decree No. 304 as published on 23 December 2022. The 9% reduced VAT rate has been temporarily extended until 31 December 2023 on restaurant and catering services consisting in the delivery of prepared or unprepared food. The reduced rate of 9% […]
Norway has approved amendments to the Norwegian VAT law regarding cross-border business to consumer sales of remotely delivered services. Effective 1 January 2023, non-resident suppliers of remote services (non-digital) to Norway who make supplies to non-registered persons are required to collect and remit VAT. This law change is an extension of Norway’s current VAT compliance […]
Ireland’s Finance Act of 2022 introduces several important VAT changes for the new year. The Act imposes a zero-rate of VAT on newspapers, which were previously subject to a reduced rate of 9%, provided the papers are not predominantly devoted to advertising. This rate reduction includes electronic newspapers as well as physical newspapers. The Act […]
As approved by the Mozambique parliament on 30 November 2022, the standard VAT rate will be reduced from 17% to 16% with effect from 1 January 2023.
On November 10, 2022, Belgium published amendments to its reverse charge mechanism for immoveable property. Previously, the reverse charge mechanism applied only when the foreign taxable customer was identified for VAT purposes in Belgium via a fiscal representative. From 1 January 2023, when a Belgian established company performs construction supplies on immovable property, reverse charge […]
Effective 1 January 2023 and until 30 April 2023, the domestic supply of passenger transport services are temporarily zero-rated under Law No. 870/2022. The law can be found here (in Finnish).
The Parliament of Slovak Republic approved an amendment of the VAT law temporarily reducing the VAT rate on the transportation of people by ski lifts, sports facilities, swimming pools, and for restaurant and catering services. These supplies will apply a reduced VAT rate of 10% effective 1 January 2023. This is a temporary rate reduction […]
12/7/2022 Washington’s Statewide 988 behavioral health crisis response & suicide prevention line tax is scheduled to increase from $0.24 to $0.40 beginning January 1. The tax applies on every retail sale of a prepaid wireless service. The tax also applies on every switched access (wireline) line, radio access (wireless) line, and Voice over Internet Protocol […]
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 10% and will come into effect on 1 January 2023. Businesses with an average annual taxable supply of more than $300,000 in Palau are required to register for PGST. Mandatory […]
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 to (and including) the current GST import relief threshold of S$400. Non-resident providers of non-digital services and imported low-value goods can register under the Overseas Vendor Registration regime which is […]
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 decree can be found here.
Effective 1 January 2023, non-alcoholic beverages intended for human consumption, excluding water, fruit and vegetable juices, and milk, will apply the standard VAT rate of 19%. Restaurant and catering services, except for alcoholic beverages and non-alcoholic beverages that now apply the standard rate, will apply the reduced VAT rate of 9%. These rate changes, as […]
The Greek Tax Authority – IAPR announced on 30 November that VAT returns will be pre-filled using the data collected through the MyDATA system. The measure aims to simplify the filing process of VAT returns. The announcement states that the pre-filled returns will be available for Greek taxpayers starting from 5 December 2022 and will […]
The Greek Tax Authority, IAPR, published a press release on 1 November, announcing the extension of the deadline until 31 December 2022 for the transmission of accounting data of wholesale transactions, data of invoicing expenses, and self-invoicing income in the cases of discrepancies in the aforementioned transmitted data.
As previously announced, the Serbian Minister of Finance published the Draft Law on Amendments to the Law on Electronic Invoicing on the 9th of November, alongside the Draft Laws on Amendments to the Law on Value Added Tax, Law on Fiscalization, and Law on Tax Procedure and Tax Administration. The changes introduced to the Law […]
On 21 September, the Greek Parliament passed a bill introducing penalties for non-compliance with rules requiring taxpayers to transmit retail sales data issued via the Information System of Electronic Tax Mechanisms (F.I.M). According to Article 54H of the Tax Procedures Code, IAPR will impose the following penalties for non-transmission of the receipt summary to the […]
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% effective January 1, 2023. The amendment bill can be found here.