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KPMG Week in Tax: 23 – 27 October 2023

02 November 2023
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Recent tax developments from around the globe for the week of 23 – 27 October 2023.

Africa

  • Nigeria: The Tax Appeal Tribunal Lagos Zone held that rental income derived from real properties are not subject to value added tax (VAT).

Asia Pacific

  • Australia: The Australian Capital Territory (ACT) government announced that it will be introducing a new stamp duty exemption for dual occupancies on suburban residential blocks.
  • Israel: The tax authority announced a delay in the initial rollout of the country’s electronic invoicing (e-invoicing) mandate due to recent terrorist events and ongoing conflict. Originally set for 1 January 2024, the new effective date is now 1 April 2024.
  • Cambodia: Effective 1 January 2024, the updated rate for the “public lighting tax” will be 5% for the supply of all alcohol and beverage or tobacco products.

Europe

  • Cyprus: An amendment to the VAT law extends the VAT exemption to services supplied by specific training providers.
  • Belgium: The tax authority published an FAQ providing guidance on application of the new EU obligations of digital platform operators (DAC7) in Belgium.
  • EU: The 2021 “VAT gap”—an estimate of the overall difference between the expected theoretical VAT revenue and the amount actually collected—dropped by approximately €38 billion compared to 2020 figures.
  • Sweden: The Supreme Administrative Court (SAC) held that rules requiring determination of the deductible proportion of residual input tax in a VAT mixed business with both taxable and tax-exempt transactions based on “reasonable grounds,” violated EU law.

Source: KPMG

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