Czech Republic issues guidance on VAT deduction adjustments for bad debts
VAT payers must reduce the VAT deduction for a taxable supply if the payment remains unpaid six months after its due date. The Czech Republic’s General Financial Directorate (GFD) released guidance on correcting VAT deductions for bad debts in
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Venezuela updates VAT exemptions, designations of withholding agents
Venezuela’s Decree No. 5.145 suspends VAT exemptions on essential goods like food, medicines, and books, effective 30 June 2025, while Administrative Ruling SNAT/2025/000054 designates special taxpayers as VAT withholding agents from 16 July
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Chile: SII sets VAT filing and payment rules for foreign e-sellers, digital platforms
SII’s new Resolution No. 93 requires foreign taxpayers registered to declare and pay 19% VAT on remote sales or facilitation of low-value goods. Chile’s tax authority (SII) has issued Resolution No. 93 of 30 July 2025, setting rules for VAT
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Chile: SII issues guidance on VAT, invoicing rules for outsourced services
The Ruling clarifies VAT treatment and invoicing requirements for outsourced services. Chile’s tax administration (SII) published Ruling No. 1394-2025 on its website on 24 July 2025, in which it provided clarification of value added tax (VAT)
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Philippines: BIR issues 2025 VAT guidance for nonresident DSPs
The BIR has issued a memorandum which details VAT registration, return filing, and payment procedures for nonresident digital service providers through the VDS portal. The Philippines Bureau of Internal Revenue (BIR) released Revenue Memorandum
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Belgium gazettes laws concerning participation exemption requirements, exit tax rules, and other tax reforms
The Belgian Chamber of Deputies approved the law on 17 July 2025. Belgium’s government has published the Programme Law of 18 July 2025 in the Official Gazette on 29 July 2025. The law introduces a new participation exemption requirement
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Ireland: Revenue issues guidance on domestic element of EU VAT SME scheme
Irish Revenue has issued eBrief No. 153/25 on 5 August 2025 regarding the creation of a new Tax and Duty Manual (TDM) for the EU VAT SME Scheme – Domestic Layer. Revenue eBrief No. 153/25 EU VAT SME Scheme - Domestic Layer A new Tax and Duty
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China expands VAT scope to include bond interest
Starting 8 August 2025, a 6% VAT will apply to interest income from newly issued treasury, local government, and financial bonds. China’s Ministry of Finance and State Taxation Administration issued Announcement No. 4 of 2025 on 31 July 2025,
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Romania gazettes application norms after VAT increase
Government Decision No. 602/2025 reflects the VAT rate increase effective 1 August 2025. Romania has published Government Decision No. 602/2025 (GD No. 602/2025) in the Official Gazette No. 715 on 31 July 2025. Government Decision No.
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Italy issues VAT rules for transportation and logistics sector
The new VAT rules mandate customers in the transportation, freight handling, and logistics sectors to pay VAT on behalf of suppliers for subcontracting, consortiums, or similar contracts. Italy’s director of tax authorities has enacted
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Brazil updates e-invoicing layouts
The government’s Technical Note 2025.002 version 1.20 updates the e-invoicing layouts and reviewing version 1.10 to align with the upcoming IBS/CBS indirect tax model under the tax reform. Brazil’s government has issued Technical Note
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Ghana announces new tax measures in 2025 mid-year budget, removes exemption on marine gas oil
The 2025 mid-year budget introduces tax reforms, removing marine gas oil tax exemptions for non-artisanal fishing fleets, enhancing the modified taxation system with digital tools, and simplifying VAT to reduce rates and exempt small
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Greece amends corporate, VAT, personal tax laws
Law 5222/2025 introduces changes to VAT, income tax, customs and real estate rules, following public consultation and EU alignment efforts. Greece enacted Law 5222/2025 on 28 July 2025, introducing changes to corporate income tax, VAT, income
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Turkey consults amendments to VAT refunds, exemptions, and procedures
The draft communiqué provides clarification on VAT exemptions, fraud-related loss, property sales rules, special consumption tax, and proportional VAT refunds on assets. The Turkish government issued a draft Communiqué on 31 July 2025 to amend
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Slovak Republic: MoF consults on introducing mandatory e-invoicing
The deadline for sending feedback is 19 August 2025. The Slovak Republic’s Ministry of Finance is consulting on a Draft Law No. LP/2025/396 on 30 July 2025, to amend the Value Added Tax Act and related laws, aimed at introducing mandatory
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Romania increases standard and reduced VAT rates, effective starting tomorrow
Starting 1 August 2025, Romania will unify the 5% and 9% VAT rates into a single 11% rate and raise the standard VAT rate from 19% to 21%. Effective from tomorrow, 1 August 2025, Romania’s reduced VAT rates of 5% and 9% have been unified and
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EU: Council adopts new rules simplifying tax collection for imports
The directive will be published in the EU Official Journal and take effect 20 days later, with rules applying from 1 July 2028. The EU Council has formally adopted new value added tax (VAT) rules for distance sales of imported goods on 18 July
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Indonesia to increase tax rates on cryptocurrency transactions
Indonesia will increase taxes on crypto trades and remove VAT for buyers starting August 2025. Indonesia will increase taxes on cryptocurrency transactions starting 1 August 2025 under new regulations issued by the Ministry of Finance. The move
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