Also in the news...
UKTIís event in Glasgow during the Commonwealth Games highlighted support available to help UK business access export opportunities in east and west Africa.
Russia added to prohibited destinations for certain licences
Meet us in the UK and Germany in September 2014 for a non-binding consultation, InterGest South Africa is heading on a road-show to the UK and Germany.
Nelisiwe Magubane, Director of the Department of Energy (DoE) has announced to reduce the primary energy demand of businesses through tax incentives
According to recent market research forecasts, diet and food patterns concerning the majority of Africaís population will see a radical change in the next ten years.
Global Taxation Updates
August, 2009 Global VAT / GST Compliance News.
Just how ugly does a visit from the IMF get? If you are in the Balkans, then pretty bad. Croatia has introduced a sudden 1% increase in VAT this month to keep the lender happy. Serbia may be next.
Contrast this snap-hike with the UK – where a VAT increase towards 20% is being floated again by nervous politicians as a solution to the gaping deficit – and it makes you yearn for the innocence of Taiwan, where a minister has freely stated that they are looking at a 1% VAT increase next year.
August, 2009 Global VAT / GST Compliance News:
- Canada: British Columbia latest province to introduce Harmonised Sales Tax
- Croatia: VAT increased by 1% to 23% under IMF pressure
- Czech: electronic EC Sales Lists to be mandatory from 2010
- EU: radical proposals to change definition on FS outsourced services exemption
- EU: new anti-fraud Directive on importing with onward supply relief
- EU: new plans for European VAT groupings to help combat fraud
- France: insisting on electronic copies of VAT recovery invoices under 2010 reforms
- Hungary: hotel accommodation goes to 18% VAT
- India: reaffirms new State & Federal GST systems launch for April 2010
- Lithuania: parliament agrees to second VAT increase this year (23% from Sept '09)
- Romania: introduces electronic system to speed-up credit repayments
- Spain: rejects proposal to increase VAT in 2009 due to weak economic growth
- Spain: tightens criteria on PE for VAT registrations by non-residents
- Switzerland: further harmonisation with EU on place of supply rules
- Taiwan: government officials admit to reviewing 1% VAT increase to 6%
- Turkey: VAT on 'superior' restaurants increased from 8% to 18%
- UK: Conservative think-tank, CEBR, calls for 20% VAT to solve fiscal deficit
- UK: joins France and Holland in zero rating VAT on carbon credit trading