Value Added Tax Act (Ch. 370A)
- Amendment to VAT Act: The document introduces changes to the Value Added Tax Act, refining definitions and clarifying provisions related to taxable supplies and registration thresholds.
- Digital Services & Cross-Border Transactions: It includes provisions aimed at capturing VAT on digital services provided by non-resident suppliers, aligning with global trends in taxing the digital economy.
- Compliance & Enforcement Enhancements: The amendment strengthens reporting obligations, introduces penalties for non-compliance, and updates administrative procedures to support more efficient VAT enforcement.
Source gov.bs
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