VAT News & Updates

International VAT news every day

Our professional and specialized VAT team is always informed with the latest VAT updates and regulations from around the world. Here you will find all you need to know regarding all the latest VAT news and information.

 

 

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Latest VAT news

22/07/2021
G20 agrees with the OECD’s global tax reform

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. 

Digital Services
21/07/2021
Are you registered for the OSS / IOSS? Free VAT Assessment Tool

Global VAT Compliance created a Free tool for all sellers interested in the OSS (One-Stop shop) or IOSS (Import One Stop Shop) schemes.

OSS / IOSS
16/07/2021
EU Commission sends a formal letter to Romania in order to comply with the new EU OSS VAT rules

the European Commission sent a formal letter to Romania for failing to allow access to the Union One-Stop Shop (OSS) to certain categories of businesses

OSS / IOSS
15/07/2021
The Ministry of Finance is proposing amendments to the Goods and Services Tax (GST) Act.

Singapore’s Ministry of Finance (MOF) is proposing amendments to the Goods and Services Tax (GST) Act. MOF is inviting all interested parties are invited to provide feedback on these legislative amendments from 6 to 27 July 2021.

GST Updates
14/07/2021
Global IT companies operating in Russia will be required to open local offices

A new bill was introduced which imposes new requirements for IT companies of certain criteria to open local office in Russia.

VAT Updates
09/07/2021
Singapore: New API for transmitting GST Returns

You can now transmit GST returns and listings directly to IRAS using accounting / Tax Software. IRAS is continuing to improve its services towards taxpayers…

VAT Updates
07/07/2021
Georgia: Taxing of digital services companies begins

Georgia starts taxing digital service companies from July 1st. Georgian tax code established that a taxable person outside of Georgia who provides digital services in Georgia must pay VAT starting July 1st.

Digital Services
05/07/2021
MRDP: The OECD’s global tax reporting framework for digital platforms

The OECD released a new global tax reporting framework, The Model Rules for Reporting by Platform Operators with respect to Sellers in the Sharing and Gig Economy (“MRDP”). According to the MRDP, digital platforms are required to collect information on the income realized by those offering accommodation, transport and personal services through platforms and to report the information to tax authorities.

Digital Services
02/07/2021
EU: The European Commission issues a release on the new VAT rules

EU issued an official release on the enforcement of the new EU VAT rules that came into force this July. 

VAT Updates
01/07/2021
Canada to charge sales tax on digital goods and services

Canada’s Parliament passed legislation Tuesday that would expand sales tax to digital giants like Amazon.com Inc. and Netflix Inc.

Digital Services

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