IMF releases working paper on efficiency aspects of VAT
The working paper examines the efficiency of the Value Added Tax (VAT), focusing on its role as a revenue-raising tool and its use to achieve non-revenue objectives. The Fiscal Affairs Department of the International Monetary Fund (IMF)
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Poland: President approves law requiring nationwide e-invoicing system
The phased implementation begins with the largest taxpayers, requiring those with 2024 sales over PLN 200 million to comply by 1 February 2026. Poland’s President signed into law a mandate on 27 August 2025, for the national electronic
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Chile: SII issues rules on VAT exemption for low-value imports purchased via remote sellers, online platforms
The new rules exempt low-value imports (CIF value under USD 500) from VAT at import when purchased from non-resident remote sellers or DPIs registered under the simplified VAT regime, ensuring VAT is only charged at the sale stage, not at the time
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Romania: Government proposes draft law to enforce small business VAT scheme
The draft law raises the VAT exemption threshold for small businesses to RON 395,000, with the SME scheme ceasing once national or EU turnover exceeds EUR 100,000. Romania’s government published a draft law for public consultation on 20
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Romania: ANAF updates VAT reporting rules following rate increase
The draft law amends the VAT Statement 394 to align it with the VAT rate increases to 21% and 11% effective from 1 August 2025. Romania’s National Agency for Fiscal Administration (ANAF) released a draft law on 25 August 2025 to update the
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Belgium delays VAT chain modernisation measures
A new start date for the modernisation of the VAT has not been announced. Belgium’s Federal Public Service for Finance announced, on 26 August 2025, that the implementation of Belgium’s VAT chain modernisation measures has been
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China introduces new VAT refund policy from next month
From September 2025, certain VAT taxpayers can apply for refunds of unused tax credits. China's Ministry of Finance and State Administration of Taxation released Announcement No. 7 of 2025 on 22 August 2025, introducing a new VAT refund policy.
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Turkey: Revenue Administration publishes guidance detailing tax obligations for heirs in 2025
The guide outlines heirs’ tax obligations, including filing rules, exemptions, thresholds, asset valuation, and related income, VAT, and special consumption tax requirements for 2025. The Turkish Revenue Administration has issued a guide for
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Kazakhstan finalises new VAT rules for foreign e-commerce
The new rules are scheduled to take effect on 1 January 2026. Under the New Tax Code of Kazakhstan, foreign companies are required to register for VAT under the procedure known as conditional VAT registration if they supply goods or services in
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Botswana: Government proposes taxing digital services from non-residents
Botswana introduces VAT amendment bill to tax digital services, apply reverse charge, and modernise compliance. The Government of Botswana has introduced Value Added Tax (VAT) Amendment Bill (Bill No. 22 of 2025) on 12 August 2025, proposing
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Italy: Revenue agency clarifies eligibility for two VAT groups within a multinational group
The tax authorities clarified that a single EU holding company can indirectly include Italian entities in two separate VAT Groups when expanding in Italy through acquisitions and establishing a permanent presence. Italy’s tax authorities
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Romania: ANAF publishes draft VAT form to reflect updated rates
The updated VAT return form now includes sections for both old and new VAT rates, with a separate section for reporting dwellings eligible for the reduced 9% VAT rate. Romania’s National Agency for Fiscal Administration (ANAF) released a
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Italy: Revenue agency clarifies VAT treatment of transfer pricing adjustments
Transfer pricing adjustments fall outside VAT unless directly tied to specific supplies as price variations; otherwise, they are treated as profit allocations to align with arm’s length margins and not VAT-relevant. Italy’s revenue agency
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Ghana: GRA to enact FED Act in early 2026
The GRA will fully enforce the Taxation (Use of Fiscal Electronic Device) Act 2018 by early 2026. The Ghana Revenue Authority (GRA) Commissioner-General announced on 15 August 2025 that it plans to fully implement and enforce the Taxation (Use of
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China: Finance Ministry consults on draft VAT law regulations
The new draft VAT law aligns with existing VAT policies while introducing key adjustments, organised into six chapters covering provisions, rates, payable taxes, incentives, administration, and supplementary rules. China's Ministry of Finance has
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Denmark: Tax authorities alert businesses about VAT return deadlines for August 2025
In 2025, monthly VAT filers must submit their June report by 18 August, while quarterly or semiannual filers must submit their second-quarter or first-half reports by 1 September. The Danish Tax Agency (Skat) has issued a reminder for companies
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Argentina eases advance VAT collection rules for select sectors
General Resolution 5738 exempts certain economic activities from advance VAT collection on transactions under ARS 10 million, effective 1 August. Argentina has issued General Resolution 5738/2025 amending General Resolution 2126 on 29 July
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Norway intensifies VAT audits and enforcement for online businesses
Norway’s tax authorities' audits of 150 foreign digital service providers recovered nearly NOK 4.9 billion in VAT, penalties, and post-registration filings between 2016 and 2025. Norway’s tax administration (Skatteetaten), in a press
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