Estonia: Parliament approves Security Tax Act
The Estonian Parliament (Riigikogu) has approved a new Security Tax Act (512 SE), designed to enhance the country’s defense capabilities through increased tax measures. The legislation introduces three key changes: A 2% increase in the
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Netherlands amends VAT recovery rules for share transactions
The Netherlands Deputy Minister of Finance has issued updated guidelines for recovering value-added tax (VAT) on expenses related to the acquisition, ownership, and sale of shares on 10 December 2024. The minister published these revised
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Chile issues draft VAT guidance for nonresident sellers
Chile’s tax authority (SII) has released the draft Circular Letter 300079.2024GE, on 3 December 2024, clarifying VAT sourcing rules for remote services and new VAT obligations for remote sellers of goods to consumers. This follows after Chile
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Indonesia publishes guidance on joint operations tax
Indonesia’s Ministry of Finance introduced Regulation No. 79 of 2024 (PMK 79) regarding the tax treatment of joint operations on 28 October 2024. The joint operations are classified into two categories based on their tax requirements: those
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Ireland: revenue issues vat updates on share transactions, trading platforms, and stock exchange fees
The Irish Revenue issued two updates, eBrief No. 298/24 and eBrief No. 299/24 on 5 December 2024, aimed at enhancing understanding of VAT regulations for financial activities, including share transactions, trading platforms, and stock exchange
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Serbia gazettes VAT law, e-invoicing rule amendments
Serbia’s parliament has passed the Amendments to the VAT Law and the Law on Amendments to the Law on Electronic Invoicing, which was published in the Official Gazette, No. 94/2024, on 28 November 2024. Amendments to the VAT Law Preliminary
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Peru announces draft VAT rules for nonresident digital service providers
Peru’s tax authority, SUNAT, has released a draft regulation introducing new value-added tax (VAT) compliance requirements for nonresident digital service providers. These measures are expected to take effect on 1 January 2025. This follows
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Spain introduces new VAT regime for groups of companies
Spain's tax authorities have introduced a new special VAT regime for groups of companies (REGE), effective from 2025. Companies must use form 039 to notify their election to apply or waive the REGE for VAT purposes, the advanced REGE arrangement,
See MoreSerbia: National Assembly adopts e-invoicing law amendment
Serbia’s National Assembly has approved a law to amend e-invoicing on 27 November 2024. The law will take effect on 15 December 2024, with full implementation by 1 January 2025. This follows after Serbia's Ministry of Finance updated the
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Bulgaria: National Assembly reviews VAT Act amendments to align with EU small business scheme
Bulgaria's National Assembly is reviewing a draft bill, presented on 2 December 2024, to amend the Value Added Tax (VAT) Act to implement the EU small business scheme for cross-border supplies. The draft bill is under parliamentary review and
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Kenya introduces pre-filled VAT returns for November 2024
The Kenya Revenue Authority (KRA) has issued a public notice announcing to all VAT registered taxpayers that the VAT return will be pre-filled with tax information available to KRA starting from the November 2024 tax period. This measure is being
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Saudi Arabia: ZATCA announces 18th wave of e-invoicing integration
The Zakat, Tax and Customs Authority (ZATCA) has revealed the criteria for the 18th group of taxpayers who must comply with the integration phase of the e-invoicing system on 29 November 2024. The 18th wave included all taxpayers whose revenues
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Vietnam: National Assembly passes 2024 VAT Law
Vietnam's National Assembly passed the 2024 Law on Value-Added Tax (VAT) on 26 November 2024, which will come into effect on 1 July 2025. This new legislation introduces several amendments. One of the changes is the increase in the tax-exempt
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Chile revises VAT registration, payment rules for non-resident service providers
Chile’s tax authority (SII) has recently issued Resolution No. 105 on 30 October 2024 and Resolution No. 107 on 14 November 2024. These resolutions update the previous regulations regarding VAT registration and payment for non-resident
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European Commission launches new VAT portal for small businesses
The Directorate-General for Taxation and Customs Union of the European Commission has unveiled a new web portal about the Special VAT regime for small businesses, which will be implemented on 1 January 2025. The special VAT regime is allowing
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Colombia: National Tax Authority updates reporting requirements for 2025
Colombia’s National Tax Authority (DIAN) has updated rules for submitting certain tax information starting with the 2025 tax year. The changes, detailed in Resolution 000188 of 30 October 2024, expand the list of taxpayers required to report
See MoreSaudi Arabia: ZATCA clarifies VAT audit process
Saudi Arabian Zakat, Tax and Customs Authority (ZATCA) has introduced new guidelines to clarify VAT audit procedures and ensure better compliance with tax regulations. The guidelines provide businesses with clear steps for audits, corrections,
See MoreEstonia: Parliament passes VAT Act amendments, introduces EU small business scheme
The Estonian Parliament (Riigikogu) passed Bill No. 462 SE, on 13 November 2024,amending the VAT Act which introduces the legislation to implement the EU small business scheme for cross-border supplies, as outlined in Council Directive (EU) 2020/285
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