Be ready for the Major Global iTx developments per April 1, 2022

Belgium

• VAT reductions for the installation of solar panels, heat pumps and solar water heaters apply from April 1, 2022 to December 31, 2023 for homes less than 10 years old
• A 6 % VAT rate on natural gas from April 1 to Sept. 30

Brazil

• Brazil Reduces Import Tax on Capital Goods, IT and Telecommunications Goods, Basic Food Products, and Ethanol

Bulgaria

• Not yet approved – Bulgaria considers 0% VAT for water and natural gas, electricity, and central heating as of April 1, 2022

Cambodia

• Cambodia to implement e-commerce VAT in April

Canada

• The federal carbon tax will be raised on April 1st. How does it affect gas prices?

Chile

• Special VAT credit allowed for construction companies, and modification of “basic taxable event of services”

China

• China Provides Temporary VAT Exemption for Small-Scale Taxpayers
• From April, large-scale tax refunds will be implemented. Chongqing will implement full electronic tax refunds for eligible taxpayers

Croatia

• VAT rate reduction to combat inflation

Fiji

• VAT rate changes in Fiji from 1st of April

Ghana

• Ghana VAT on foreign digital services – April 2022

India

• Mandatory B2B E-Invoicing – threshold lowered to 20 Crores
• Maharashtra Govt. announces Amnesty Scheme, 2022
• India’s cryptocurrency tax kicks in from April – here’s what investors need to know
• DGFT operationalised new online IT Module for Interest Equalisation Scheme w.e.f. April 01, 2022

Indonesia

• VAT rate to increase to 11% on 1 April

Netherlands

• Corrective VAT returns 2021 to be submitted before 1st April in Netherlands
• Cabinet will lower excise duties on fuel as of April 1, 2022
• Reduction in fuel excise tax will also apply to LPG and LNG

Poland

• New version of JPK_FA as of April 1, 2022

Romania

• B2B E-Invoice system optional as of April 1, 2022 and mandatory as of July 1, 2022 for risky products
• Proposal: Reduced VAT Rate of 5% on Car Fuels as of April 1, 2022
• Romanian e-Transport system monitoring goods with high tax risk optional as of April 1, mandatory as of July 1, 2022

Russia

• VAT refund period will be reduced from a month to 11 working days

Turkey

• VAT on cleaning products, soap, toilet paper, napkin and baby diapers to be lowered to 8 percent

Ukraine

• A 2% unified tax in lieu of corporate income tax and VAT (if turnover is less than UAH 10 billion) as of April 1, 2022

United Kingdom

• Making Tax Digital for VAT – Expansion
• Implementation of Plastic Packaging Tax in the UK
• End of temporary reduced rate for leisure and hospitality
• HMRC late payment interest rates to be revised after Bank of England increases base rate
• Spring statement 2022: VAT relief for ESMs will be extended from April 2022, including a time-limited zero rate for the installation

United States

• April 2022 sales tax rate changes