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Global VAT Revolution in E-commerce and Digital Services Tax – December 2024 Update!
November VAT News: 10 Updates from Around the World
Nov 14, 2024 · New Document was Uploaded: Software for the Electronic Transmission of the Ddata in Italy
Papua New Guinea’s 2025 National Budget: Key Tax Changes and …
Jan 1, 2025 · The budget sets zero-rated VAT on specified food items for one year starting July 1, 2025; It increases the threshold for an extended GST filing period to 1.5 million kinas from 625,000 kinas; The GST refund time limit will be reduced to 4 years from 8 years; The first home exemption threshold is increased to 700,000 kinas
Global Tax Policy and Controversy Watch | December 2024 edition
Dec 11, 2024 · New VAT and Tax Regulations: Countries such as the Philippines implemented a 12% VAT on digital services from non-resident sellers, while Australia passed legislation for a 15% global minimum tax under OECD guidelines. Additionally, Latvia will require e-invoicing for B2G transactions starting January 1, 2025, and for B2B transactions by ...
VAT Trends 2024: An Overview – VATupdate
Oct 8, 2024 · VAT Gap Decline: The VAT Gap in Europe decreased from €99 billion in 2020 to €61 billion in 2021, driven by digitization, government support during COVID-19, and a shift towards cashless payments, benefiting countries like Italy and Poland.
VATupdate Newsletter Week 47 2024 – VATupdate
Nov 25, 2024 · Most people think of VAT as endless calculations and complicated rules. It can come across as a dry and abstract subject, but nothing could be further from the truth! VAT is all around us and plays a crucial role in our economy—even in the latest trends, like the rise of …
New VAT Laws in Belgium from 1st January 2025: Changes, …
Jan 1, 2025 · New VAT laws in Belgium from January 1, 2025; Planned changes in the Belgian VAT law, originally scheduled for 2024, will now take effect from January 1, 2025; Faster VAT refunds for monthly filers; Simplification of administrative procedures for VAT refund requests; Longer deadlines for quarterly filers by 5 days; Stricter penalties for late ...
Global VAT Guide: December 2024 – VATupdate
Dec 17, 2024 · The December edition of the Global VAT Guide provides updates on VAT regulations across various jurisdictions, including the EU, Liechtenstein, Lithuania, Luxembourg, and others, highlighting the implementation of the EU’s Special SME Scheme, which simplifies VAT compliance for small and medium-sized enterprises (SMEs) and introduces new ...
October VAT news: 10 updates from around the world
Oct 24, 2024 · Ecuador: A VAT cut on electric generators has been implemented to address the energy crisis and make generators more affordable. Philippines: Legislation now imposes VAT on digital services from non-resident entities to increase tax revenue and ensure fair competition.