VAT News

Iceland-Budget proposal

Recently announced in the Icelandic budget proposal was the confirmation that from January 2019, the standard rate of VAT will be reduced from 24% to 22.5%.

In addition, the plan to increase VAT on 'travel-related' services from the reduced rate of 11% to the standard rate has now been put back from 1.7.2018 to January 2019.

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South Dakota vs Wayfair Inc.

To combat the inequality, South Dakota brought a case against Wayfair Inc which said that even if the supplier had no physical nexus in the classic sense, they should still collect and remit sales tax on online sales, to level the playing field with suppliers who do have a nexus.

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Russia-VAT rate increase

The Russian standard rate is to increase

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Malta-VAT grouping

Multiple entities can now form VAT groups in Malta

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