The following three Canadian provinces will raise their Harmonized Sales Tax rates to 15% as follows: Newfoundland and Labrador from 13% to 15% on 1 July 2016; New Brunswick from 13% to 15% on 1 July 2016; and Prince Edward Island from 14% to 15% on 1 October 2016 HST is made up of the […]
The Philippines has proposed raising its VAT rate from 12% to 14%. In addition, the government is proposing to widen the goods and services which is subject to the indirect tax. The move will help to fund changes to personal and corporate income tax. The proposal have yet to be fully implemented.
Oman has confirmed it will introduce VAT in 2018. This is along with the five other members of the Gulf Co-operation Council (GCC). The heavy fall of the global price of oil in the past two years has forced Oman to diversify its government revenues away from oil duties. It is estimated a 5% Oman […]
The Puerto Rican Treasury Department has confirmed further details on the new VAT regime to be introduced. The new VAT rate will be 10.5%. The implementation date will be 1 June 2016, and will replace the existing Sales & Use Tax. The VAT registration threshold will be $125,000. The current Municipal Tax of 1% will […]
The Egyptian cabinet this week approved a revised bill for the implementation of VAT and the withdrawal of the existing 10% General Sales Tax. The previous bill had been rejected by Parliament. The latest bill will now be sent to the State Council for review, and then resubmitted to Parliament. The introduction of a Value […]
The Hungarian parliament is debating a range of VAT measure this month, including: Lowering the VAT threshold for monthly returns from 1m HUF to HUF 100,000 Reducing the VAT rate on restaurant supplies from 27% to 18% from 1 January 2017. And then to 5% in January 2018. Cutting the VAT rate on domestic internet […]
As the UAE prepares to launch VAT, the Ministry of Finance has issued further guidelines on its structure. The main proposals (subject to further change) are below: Potential launch date 1 January 2017 5% VAT rate VAT will be levied on most goods and services Exemptions for some foodstuffs, health and social care services The […]
The Canadian Newfoundland and Labrador province is to raise its Harmonised Sales Tax (HST) from 13% to 15% from 1 July 2016. The measure was including in the 2016 budget. HST is made up of 5% federal Goods & Services Tax plus Provincial Sales Tax (PST). It is the PST element that is rising in […]
Bangladesh will complete the implementation of a new VAT regime, including a consolidated 15% rate, on 1 July 2016. Currently, there are a wide range of services which are at reduced rates from 1.5% to 9%.
Australia is to withdraw the AUD 1,000 GST free threshold on the import of goods. The relief enabled consumers to buy goods from major online retailers without the 10% GST that domestic platforms had to charge them. Any foreign supplier of B2C goods will have to GST register for sales of low-value goods if their […]