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Saudi Arabia should double VAT to 10%

The International Monetary Fund (IMF) has recommended that Saudi Arabia double its VAT rate from 5% to 10%. The IMF stated that, with continued depressed oil prices, the kingdom’s deficit is set to c...Continued

VAT

Nigeria raises VAT to 7.5% 2020

The Nigerian government has proposed rising Value Added Tax standard rate from 5% to 7.5%. The rise will need the agreement of the National Assembly. The increase will likely be put into place on 1st ...Continued

Chile bill VAT on non-resident e-services

The Chilean Congress is to consider a bill to levy VAT on foreign electronic and digital services sold to consumers. The current standard VAT rate in Chile is 19%. ...Continued

Indonesia VAT on non-resident e-services

The Indonesian government is preparing a bill to extend VAT collections on e-commerce sales by foreign providers of e-services. Indonesian VAT is currently 10%. The bill could be enacted in time for 2...Continued

Poland delays VAT return withdrawal till April 2020

Poland has again delayed the replacement of periodic VAT returns for SAF-T files. The new date will be 1 April 2020....Continued

Germany VAT certificates for EU sellers Oct 2020

EU online retailers selling to German consumers must provide any marketplaces they are active on with a VAT Certificate (Bescheinigungen nach § 22f UStG) from the German tax office, Finanzamt. This ve...Continued

UK HMRC delays construction VAT domestic reverse charge till Oct 2020

The UK has postponed plans to introduce the domestic reverse charge on VAT in the construction services industry. The move, which effectively takes the cash payment out of B2B transactions is aimed at...Continued

EU closes missing VAT Gap by €8bn to €138bn for 2017

The European Commission (EC) annual estimate of uncollected VAT, the VAT Gap, has reduced from €146 billion to €137.5 billion for 2017. This is 11.2% of total EU VAT revenues....Continued

Greek e-books and e-invoices myDATA 2020

The Greek tax office, AADE, is consulting with industry and accounting system providers on their proposed implementation of the myDATA electronic platform for taxpayers. This would create a standardis...Continued

Romania SAF-T pilot 2020

Romania is proceeding with plans for a pilot of Standard Audit File for Tax (SAF-T) for large taxpayers in January 2020. This would enable a full adoption by the end of 2020 for most businesses....Continued