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)
The Czech Ministry of Finance is seeking authorisation to increase the turnover threshold for VAT. Currently, businesses with a turnover of CZK 1 million or more must register for VAT. The amount is in line with the EU’s common system
Saudi Arabia has ruled out an immediate VAT cut. Finance Minister Mohammed Al-Jadaan however said that a rate cut could be on the cards down the line, when finances improve. Saudi Arabia increased its VAT rate from 5% to 15%
The EU’s VAT e-commerce package has benefited online retailers in Europe. However there are a number of important VAT issues that still need to be worked out. That’s according to preliminary results of a survey by online retailer industry body
Rishi Sunak could introduce a UK e-commerce sales tax in his forthcoming budget, according to reports. The Telegraph quotes a government source as saying that the plans are still ‘rudimentary’ but there is clear impetus towards some kind of tax
E-commerce sales have boomed recently, as we spent more of our time indoors and online. This year’s Black Friday sale is an opportunity for e-commerce sellers to capitalise on the increase in online sales. However, cross-border sales means cross-border VAT,
South Africa’s National Treasury released a memorandum on a domestic VAT reverse charge for valuable metals. Government is proposing the VAT reverse charge regulations in response to ongoing VAT fraud in the precious metal industry, notably the supply of Kruggerands
A large number of taxpayers received incorrect charges or even fines in the Netherlands recently. State Secretary for Finance Hans Vijlbrief revealed that the problem was caused by a technical error due to the high rate of VAT submissions. According
A recent report issued by the European Parliament highlights the administrative challenge and cost of VAT compliance. As the report by the European Parliamentary Research Service points out: “European Commission surveys constantly report that the current EU tax system and