- Saudi Arabia and Lithuania Changes: Saudi Arabia’s Zakat, Tax and Customs Authority has set the deadline for May 2025 VAT returns as June 30, 2025, for all VAT-registered entities. Meanwhile, Lithuania’s parliament approved a tax reform raising the standard VAT rate from 21% to 23%, effective January 1, 2026, as part of broader efforts to enhance public finances.
- Digital Compliance Initiatives in Pakistan and Finland: Pakistan has extended the deadline for integrating taxpayer invoicing systems with the Federal Board of Revenue to improve digital compliance and VAT enforcement. Finland is proposing a phased implementation of real-time VAT reporting starting in 2026, requiring near real-time electronic submission of VAT data to align with EU digital standards.
- U.S. States’ Tax Reforms: Various U.S. states are modernizing their tax codes: Minnesota has extended sales tax exemptions for data centers and introduced new fees for digital services; Washington has expanded its sales tax base to include digital and professional services; Louisiana has updated its marketplace facilitator laws to include accommodation intermediaries; and Illinois has revised its economic nexus thresholds and marketplace facilitator rules to adapt to the digital economy.
Source VAT IT Compliance
Click on the logo to visit the website
Latest Posts in "World"
- OECD Publication: Governing with Artificial Intelligence: OECD’s Roadmap for Smarter Public Services
- E-Invoicing & E-Reporting developments in the news in week 36-38/2025
- OECD Report Explores AI’s Role in Tax Administration and Public-Sector Challenges
- AI In Tax: Common Pitfalls That Keep Projects From Taking Off
- Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
