India’s tax authorities are paying closer attention to cryptocurrency traders. However, some platforms say that the GST rules on cryptocurrencies, such as Bitcoin, are unclear. They’re asking regulators for clarity on their precise GST obligations. For instance, one crypto platform
Cambodia will introduce VAT on online sales of goods and services from 1 April 2022. Cambodia originally scheduled the rollout of e-commerce VAT for 1 January. Under the new rules, any nonresident company that supplies online goods or services to
How can e-commerce businesses adapt when international VAT compliance rules change? It depends, in part, on how much assistance you get from the local tax and customs offices. Consider the case of Finland. Following a recent change to EU regulations,
“If you visit Amazon, we are expecting Amazon to add VAT charge to whatever transaction you are paying for.” On the surface, that’s a simple enough statement. But once we unpack it, we discover just how much the internet has
If you provide digital services to customers in Indonesia, the tax authorities are likely paying close attention to your business. Indonesia’s tax authorities have provided an updated notice listing which companies must collect VAT on digital services and goods supplied
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%