UK tax authorities issued new guidance on what to do if you change your Import One Stop Shop (IOSS) VAT registration. If you had previously informed HMRC that you are registered with the IOSS, you can use the online resource
Kenya is introducing an electronic tax system to monitor VAT payments. Kenyan media cautions taxpayers that the system will make it much harder to get away with VAT evasion. Electronic monitoring of invoices Kenya’s new Tax Invoice Management System (TIMS)
Armenia’s government has introduced a draft Digital Services VAT law to parliament. Under the new law, non-resident businesses supplying digital services to customers in Armenia must register and account for VAT. Armenia’s tax authorities explain that the law requires companies
India will classify cryptocurrency exchanges as e-commerce platforms, some analysts expect. The move has important potential tax implications. Under the anticipated new regulations, the Indian government will impose 1% GST on platforms used to exchange cryptocurrencies such as Ethereum and
Sri Lanka is introducing a Special Goods and Services Tax (GST) that will apply to specified goods and services. The new GST does not replace Sri Lanka’s existing VAT system. Rather, it is an additional special tax. The new Special
Thailand has updated its digital services VAT guidance, clarifying the scope of digital services. Under recently implemented regulations, non-resident companies providing online services to customers in Thailand are liable for 7% VAT. Note that the digital services VAT registration threshold
Romania wants to tax digital streaming services and use the revenue to fund the domestic movie industry. The proposed tax would fund the country’s Centrul National al Cinematografiei, which finances film production. According to reports, a film industry group initially
Germany cut its VAT rate in 2020, as part of the largest Covid-related economic stimulus package in Europe. The decision appears to have paid off. A study shows that VAT cuts drove €34 billion of household spending. Significantly, the cut
Ireland’s Minister of Foreign Affairs expressed concern that the UK could take unilateral action over the Northern Ireland protocol. Foreign Affairs Minister Simon Coveney said that if the UK invokes the ‘safeguards’ built into Article 16, a clause in Northern