Value Added Tax

Read the latest in VAT regulatory updates

  • Vietnam E-Invoicing is Compulsory as of November 1, 2020

    On November 1, 2018, Decree 119/2018/ND-CP took effect in Vietnam.

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  • Poland Confirms New SAF-T Structure for 2019

    On October 26, the Polish Council of Ministers confirmed that it will introduce a new SAF-T scheme (JPK_VDEK) aimed at replacing the VAT-7 and VAT-7K declarations.

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  • EU Directive Adopted Allowing Reduced VAT Rates on E-Publications

    On November 6, the European Economic and Financial Affairs Council announced the adoption of a Council Directive which allows EU Member States to align their VAT rules for publications.

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  • Australia to Abolish Tax on Feminine Hygiene Products

    The Australian Government is taking steps towards removing the 10% GST that is imposed on feminine hygiene products in Australia.

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  • Bulgaria Changes Intrastat Reporting Thresholds for 2019

    The National Statistical Institute of Bulgaria announced Intrastat thresholds for 2019

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  • UK's HMRC Opens The Door For More Making Tax Digital Pilot Program Testing

    On October 16, 2018, Her Majesty's Revenue & Customs (HMRC) announced that the previously reserved pilot program for Making Tax Digital (MTD) was expanded to a much larger pool of businesses.

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  • Peru Issues New Regulations Regarding the OSE

    The Peruvian Tax Administration (SUNAT) published on October 15, 2018, regulation 242-2018/SUNAT, which establishes some new obligations to the OSEs and also updates the sanctions for non-compliance.

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  • Brazil Contemplating Tax Reform in 2019

    The Brazilian Congress is once again considering a series of tax reforms aimed at simplifying its complicated indirect tax system. It proposes to replace with a nationwide VAT.

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  • Mexico: New Tax Reform Plans to Re-establish Reduced VAT Rate at the Border

    The Mexican Congress is proposing to re-establish a reduced VAT rate in the border states of Baja California, Baja California Sur, Quintana Roo. The project is being considered at the Mexican Senate.

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  • Mexico Postpones the New CFDI Cancellation Process

    After a meeting with the Confederation of Chambers of Commerce and Tourism, the Mexican Tax Administration (SAT) decided to postpone for two months the new process of Cancellation of the CFDI

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  • UK Contemplates Hard Brexit

    Her Majesty Revenue and Customs (HMRC) nonetheless is drafting rules and guidance which would come into play should the UK exit the EU as of March 29, 2019.

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  • Venezuela Increases the Standard Rate of the VAT

    The congress of Venezuela has enacted Decree 3.584/2018, by which the standard rate of VAT will be increased from 12% to 16%, effective September 1, 2018.

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  • Poland Considers Dropping Periodic VAT Return

    There have been rumblings out of the Polish Ministry of Finance that sometime in 2019 the Government may do away with the time-tested requirement of submitting a monthly VAT return.

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  • Argentina Modifies the Invoicing requirement for Small Taxpayers

    On August 3, 2018, the federal tax administration of Argentina (AFIP) enacted Resolutions 4290, 4291 and 4292

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  • South Africa Proposes Amendment to Change VAT Rate

    South Africa's Minister of Finance has published a draft amendment, which if enacted, would change South Africa's VAT rate back to 14%.

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  • UK Publishes Additional Guidance for Making Tax Digital Initiative

    On Friday, July 13, 2018, HMRC released additional information regarding the Making Tax Digital initiative, which is currently set to go into effect in the United Kingdom on April 1, 2019.

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  • Panama Releases Roadmap for eInvoice

    The Ministry of Finance announced on their Twitter account, a Roadmap for the implementation process of the new eInvoicing regime in Panama.

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  • Hungary Publishes Real Time Reporting Regulation

    On June 1, "Decree No. 2/2018 (1 June) of the Minister of Finance" was published in the Hungarian Gazette regarding the real time reporting regulation. Details follow.

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  • European Council Clears Way for Italy e-Invoicing Requirement

    On April 16, 2018, the European Council approved Italy's derogation request from the EU VAT Directive, bringing Italy one step closer to implementing its mandatory e-Invoicing requirement.

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  • UK-EU Draft Withdrawal Agreement Published

    On March 19, the UK published first draft of a withdrawal agreement, although not finalized, indicates that for value-added and excise taxes, much of the status-quo with the EU will remain until 2021.

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