An increasing number of countries are taxing VAT or GST on digital services supplied from abroad to consumers. Global VAT Compliance is up-to-date with all of these new regulations and provides VAT/GST solutions to digital companies worldwide.
An increasing number of countries are taxing VAT or GST on electronic services supplied from abroad to consumers. As of 2015 the EU applied the Mini One Stop Shop which enables trader to register in one country and report and remit VAT for the entire EU. Global VAT Compliance files EU VAT MOSS returns in various jurisdictions throughout the EU.
Also, countries outside the EU have implemented a mechanism to charge VAT, GST or similar transaction taxes on supplies made from other countries to private individuals.
Our expertise contains all sorts of aspects, not only relating to VAT & Customs duties. Here are some examples of the issues we have worked on for our clients:
The Philippines approved a bill aiming to impose a 12% VAT on non-resident companies offering digital services to the Philippines.
Thailand: Non-resident electronic service providers with income above 1.8 million THB subjected to VAT from 1 September 2021
The tax landscape will change as G20 countries reach an agreement on taxing the digital economy and minimum global corporate tax rate of 15% in 2023. Following the meeting on 10th July, the world’s 20 largest economies (G-20) approved the proposal by the OECD (the Organization for Economic Co-operation and Development) for taxing a digital economy and setting a minimum global corporate tax rate at 15% in 2023.