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EU Tax Package – VAT measures

On 15 July 2020, the European Commission (EC) adopted an ambitious range of tax reforms – Tax Package - designed to bring fairness, efficiency and sustainability to the EU’s tax regime. This contains ...Continued

Brazil COFINS digital services tax proposal

The Brazil Senate is proposing imposing a new COFINS levy on providers of digital services to local consumers. COFINS - the federal tax contribution to the Social Security Financing paid on company re...Continued

Latvia VAT registration threshold extension

Latvia is applying for an extension to its annual VAT registration threshold until 31 December 2024. Under Article 287(10) of the VAT Directive, Latvia may exempt from VAT taxable persons whose annual...Continued

Ireland tourism and hospitality VAT cut from 13.5% to 9% debate

Ireland is considering a reinstatement of the reduced 9% VAT rate on tourism, hotels, café and restaurant services. The current rate is 13.5% on: hotel, tourism, food and non-alcoholic drink. This cut...Continued

Latvia VAT measures for coronavirus

Latvia is to grant tax delays to businesses during the COVID-19 crisis. Businesses may request a delay on tax – VAT is presumed to be included – until 30 June 2020....Continued

Saudi Arabia delays VAT payments by 3 months on COVID-19 crisis

Saudi Arabia has offered Value Added Tax payment deferments for businesses for three months. There also reliefs from a range of government charges and customs. The measures were announced on 20 March ...Continued

Iceland COVID-19 VAT measures

Iceland has agreed Value Added Tax and other tax benefits for businesses during the coronavirus epidemic....Continued

Sri Lanka postpones VAT payments for COVID-19

Sri Lanka’s Department of Inland Revenue is to provide Value Added Tax payments delays during the coronavirus pandemic. February and March VAT payments are now delayed to 30 April. They were due on 20...Continued

Romania SAF-T and VAT cash registers roll out

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

UK cuts hospitality and tourism VAT to 5% till Jan 2021

The UK has cut the reduced Value Added Tax on hospitality services from the current 20% standard rate to the reduced rate of 5% on 8 July 2020 in the Chancellor’s economic update. The measure will be ...Continued