VAT Rates … this was in the news in the week of June 14

Americas

• Colombia: 0% value-added tax (VAT) rate for certain goods and other VAT measures – extended till Aug 31, 2021

Asia Pacific

• India:
  • No GST on supply of food in Anganwadis and Schools
  • How Changes in GST Rate affect Your Business Process?
  • Waiver & Reduction of GST Rates for Covid Management
  • Rajasthan lowers VAT on diesel for mining sector
  • Reduced the rate on construction services w.r.t. a structure for funeral, burial or cremation of deceased to 2.5%
  • 12% GST on Service of Operating Mini AC Buses: AAR
  • GoM recommended rate rationalisation till August, 2021, GST Council extended till September 30, 2021
  • 5% GST applicable on Scientific and Technical Instruments / Equipment supplied to Public-funded research Institutions
• Indonesia: 100% Tax discount program for the automotive market extended till August 2021
• Laos:
  • Customs duty exemption on the import of goods for the prevention and treatment of COVID-19
• Philippines
  • Philippines Amends Revenue Regulations to Impose 12% VAT on Certain Supplies Previously Subject to 0% Rate
  • Export, services sale slapped with 12% VAT

Europe

• Belgium: Demolition and reconstruction: VAT authorities publish updated FAQ
• European Union:
  • Talks on Lower EU VAT Rates Stall Over Fossil Fuels, Exemptions
  • VAT Rates in Europe 2021
  • ECOFIN Council on VAT rate reform and banking union
•  Netherlands
  • Making sailing yachts available for a fee on the basis of an annual subscription does not give the he opportunity to practice sports
  • Entertainment hall services are subject to the general VAT rate (21%)
  • Dutch railways: reverse VAT increase on train ticket
• Poland: VAT treatment of selling a gastronomic service in the form of a lunch with wine
• Portugal: Standard VAT rate in Azores expected to be reduced to 16%
• Spain: Spanish government considers cutting VAT on electricity bills
• United Kingdom: Finance Act 2021 published: temporary VAT rate of 5% for hospitality, etc, MTD, E-Commerce, …

GCC

• Saudi Arabia:
  • Saudi Arabia Tax Agency Issues VAT Guide on Insurance, Reinsurance Companies in English
  • Saudi inflation driven up by food and vehicle prices as VAT hangover lingers

Overviews by vatupdate.com

• Global VAT rate changes as of June 1, 2021

 

 

 

 

 

 

 

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