- Budget 2025 introduces reverse-charge (self-accounting) rules for GST/HST in telecommunications to combat fraud, aligning with European VAT practices; possible expansion to other industries is under consultation.
- The Under-Utilized House Tax (UHT), which caused compliance issues, has been eliminated.
- No major changes to GST joint venture rules; proposed restrictive reforms have stalled, with hope for expansion of existing rules.
- Audit and investigation powers are strengthened, with new penalties for non-compliance with audit requests.
- No significant changes to customs and trade VAT rules; proposed Customs Value for Duty changes were not included in the budget.
Source: taxandtradelaw.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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