Imposing VAT on nonresident suppliers of digital services could raise revenue of between 0.04% and 0.11% of GDP in certain Asian countries. That’s the finding of a new IMF report, “Digitalization and Taxation in Asia”. According to the IMF, that
Israel’s government has published a proposal to introduce digital services VAT. The new VAT would apply to foreign businesses that supply online services to customers in Israel. The proposal is part of a broader memorandum detailing numerous policy proposals issued
Australia wants to make the sharing economy more accountable. Under new rules, platforms must report all sharing economy transactions to the Australian Taxation Office. According to exposure drafts (for public comment) of Australia’s proposed new legislation, electronic platforms will have
Russia has enacted a law requiring digital telecommunications companies to open local offices. Under the new law, online networks that have an audience exceeding 500 000 users daily must open a branch in Russia, or establish a Russian subsidiary. The
Singapore will impose GST on low value goods valued up to S$400. Under current regulations, low value goods imported by air or post are not subject to GST. From January 2023, low value goods will no longer be eligible for
Italian tax authorities are investigating travel website Booking.com for widespread tax evasion, according to reports. Genoa police suspect the company has evaded tax to the value of over €150 million. Some reports put the figure as high as €700 million.
Ukraine has passed a draft bill that would impose VAT on foreign supply of digital services. VAT will be applied in cases where foreign companies supply digital services to customers in Ukraine. The digital services VAT applies from 1 January
G7 finance ministers have reached an agreement on a global minimum corporate tax rate. The agreement aims to set the global rate to 15%. The policy would have significant implications for how global tech giants are taxed. A global digital