IMF Report Looks at Portugal’s Economy
On 9 May 2023 the IMF issued a report following discussions with Portugal under Article IV of the IMF’s articles of agreement. The economic recovery from the pandemic continued strongly into 2022 with growth of 6.7% led by stronger tourism and
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IMF Comments on the Economy of Mozambique
On 6 May 2023 the IMF issued a press release following discussions with Mozambique in relation to the second review of the program under the extended credit facility (ECF) arrangement. The report notes that Mozambique’s economic recovery has
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UK: Research into Taxpayer Software Decision process for MTD
On 2 March 2023 HMRC published research that they had commissioned on the taxpayer decision-making process for acquiring compatible software for operation of the Making Tax Digital (MTD) rules. Insights gained from the research will serve as input
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OECD: VAT Digital Toolkit for Africa
On 15 February 2023 the OECD published the VAT Digital Toolkit for Africa. In most African countries value added tax (VAT) is a major revenue source that brings in more than one quarter of total tax revenues on average. In 2020, VAT revenues in
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UK: Experience with HMRC’s Digital Services
On 26 January 2023 HMRC published the results of research with tax agents to explore their experiences of HMRC's digital services HMRC commissioned research to give them more insight into different business models used by agents, the nature of
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IMF Report Looks at Tax Reforms in Belgium
On 21 December 2022 the IMF issued a report following the conclusion of discussions with Belgium under Article IV of the IMF’s articles of agreement. Owing to the energy price increases, the federal and regional authorities are supporting to
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OECD: Consumption tax trends 2022
On 30 November 2022 the OECD released Consumption Tax Trends 2022, an annual publication setting out comparative data on consumption taxes and trends in consumption tax policy in OECD countries. The data indicate that as e-commerce increases the
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OECD: Revenue Statistics 2022
On 30 November 2022 the OECD published Revenue Statistics 2022. The publication sets out the statistics of tax revenue for 2021 which indicate that tax revenues were recovering after the crisis caused by the pandemic. The publication classifies
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Italy approves draft Budget for 2023
On 21 November 2022, Italian Council of Ministers approved the State Budget for 2023 along with the multi-year budget for 2023 to 2025. The budget increasing the tax credits for the purchase of natural gas and electricity through March 2023 and
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OECD: Latest Edition of Tax Policy Reforms
On 21 September 2022 the OECD published the latest edition of Tax Policy Reforms: OECD and Selected Partner Economies. This is an annual publication providing comparative information on tax reforms in a number of countries. The latest report looks
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Lithuania approves draft bill relating to the VAT registration threshold for related persons
On 12 August 2022, the Lithuanian Parliament accepted for consideration Bill (No. XIVP-1915), relating to the VAT Law on Calculating the VAT Registration Threshold for Related Persons. Accordingly, when related persons carry out economic
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IMF Report and Press Briefing Assess the Economy of Saudi Arabia
On 17 August 2022, the IMF published a report following consultations with Saudi Arabia under Article IV of the IMF’s articles of agreement. A press conference was also held to discuss the assessment of the Saudi economy. Saudi Arabia has been
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Australia: GST treatment of financial supplies
On 10 August 2022 the ATO opened a consultation on a draft update to Taxation Ruling No. GSTR 2002/2DC1, on the GST treatment of financial supplies and related activities. The draft update to the ruling incorporates changes in the GST law such as
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UK: Survey of Awareness of Making Tax Digital
On 9 June 2022 HMRC published the results of a survey they commissioned to look at business awareness of Making Tax Digital (MTD). The research focused on VAT registered businesses that are below the threshold for VAT registration. MTD
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IMF Report Considers Romania’s Economic Situation
On 10 June 2022 the IMF published a report following discussions with Romania under Article IV of the IMF’s articles of agreement. Romania’s economy recovered well after the pandemic; but is now facing strong challenges. The GDP
See MoreIMF Report Comments on the Economic Situation in Portugal
On 16 May 2022 the IMF published a report following discussions with Portugal under Article IV of the IMF’s articles of agreement. Following a deep recession during the pandemic the economy has begun to recover. The economy was hit harder than
See MoreUK: Research on Benefits of Money Service Businesses
On 9 May 2022 the UK government published the results of research commissioned by HMRC to understand the economic and social benefits of the Money Service Business (MSB) sector in the UK. MSBs are businesses that allow customers to send money,
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OECD: Revenue Statistics in Latin America and the Caribbean
On 27 April 2022 the OECD released the publication Revenue Statistics in Latin America and the Caribbean 2022. This annual overview of the region contains internationally comparable data on tax levels and structures for 27 countries in the Latin
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