Belgium extends deadline for 2025 VAT recovery submissions
Belgium’s tax authorities announced an extended deadline for submitting 2024 financial year data for taxpayers subject to VAT recovery restrictions on 4 April 2025. The deadline was extended to accommodate the summer holiday period. As such,
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Nigeria lifts import duty, VAT on pharma raw materials
The Nigeria Customs Service in a press release on X on 26 March 2025 announced that a two-year exemption from import duty and VAT will apply to raw materials used in pharmaceutical production. This benefit is limited to pharmaceutical manufacturers
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Bulgaria reduces VAT registration threshold starting 1 April 2025
Bulgaria’s National Revenue Agency (NRA) issued guidance on 31 March 2025 regarding revisions to the VAT registration threshold, which will take effect on 1 April 2025. The threshold is reduced from BGN 166,000 to BGN 100,000 . From 1 April
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Portugal approves tax simplification Law to cut compliance costs
Portugal's government has approved Decree-Law no. 49/2025, introducing several tax simplification measures to boost economic competitiveness. These measures focus on reducing compliance costs, improving transparency, and refining tax justice
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Russia: FTS clarifies rules on reduced VAT rates and exemption criteria
The Federal Tax Service (FTS) of Russia has issued a reminder on the proper application of reduced VAT rates of 5% and 7%. This announcement was made by FTS on 17 March 2025. Organizations and entrepreneurs must apply these rates consecutively
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Slovak Republic updates VAT return form template
The Slovak Republic’s Ministry of Finance presented an updated VAT return form and template on 21 March 2025. The updates align with the legislative changes to VAT law, which go into effect on 1 July 2025. Changes to VAT law will activate the
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Ireland extends 9% VAT rate on gas and electricity until 31 October 2025
Irish Minister for Climate, Environment and Energy Minister Darragh O'Brien has welcomed the government decision to extend the 9% VAT rate currently applied to gas and electricity by a further six months – to 31 October. The 9% VAT rate had been
See MoreSlovak Republic limits input VAT deduction to 50% on motor vehicles and motorcycles
The Slovak Republic Ministry of Finance has announced that businesses can only claim a 50% VAT deduction on passenger vehicles, fuel, repairs, and maintenance, effective 1 July 2025. This will raise acquisition and operating costs by over
See MorePortugal adopts EU small business scheme for cross-border trade
Portugal has published Decree-Law No. 35/2025 of 24 March 2025 in the Official Gazette, introducing measures to align with EU VAT law for small businesses. The Decree includes the EU small business scheme for cross-border supplies under Council
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Cyprus offers VAT exemption to rental property owners
Cyprus’ Commissioner of Taxation published Circular 2/2025 on 24 March 2025, outlining guidelines for rental property owners who haven't opted to exempt their property from VAT. The circular is valid until 31 December 2025. In Cyprus, renting
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Ghana: Parliament passes 2025 budget measures
Ghana's Ministry of Finance announced that the Parliament approved several 2025 Budget measures on 26 March 2025. The passage of these bills marks a major leap for economic reform and a significant step in fulfilling the government’s commitment
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Namibia announces tax proposals in 2025-26 budget
Namibia’s Ministry of Finance unveiled the 2025-26 budget on 27 March 2025, outlining several tax proposals, including corporate tax reductions, VAT changes, and higher excise duties. Namibia’s national budget has risen to NAD 106.3 billion,
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UN Tax Committee: Guidance on Indirect Taxes
At the meeting of the UN Tax Committee on 27 March 2025 the subcommittee dealing with indirect taxation matters put forward some potential issues that the next membership of the Tax Committee may wish to consider at future sessions. The
See MoreUN Tax Committee: Extractive Industries Taxation
On 25 March 2025 the Subcommittee on the Extractive Industries taxation presented to the UN Tax Committee a draft supplement to Chapter 5 (tax incentives) of the UN Handbook on Selected Issues for Taxation of the Extractive Industries; draft
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Germany updates guidance on VAT rules for small businesses
The German Ministry of Finance has updated its guidance on special VAT rules for small businesses on 18 March 2025. These changes follow the approval, in December 2024, of the increase in VAT exemption thresholds to take effect from 1 January
See MoreBulgaria: Parliament approves lower VAT registration threshold starting April 2025
Bulgaria's parliament passed the State Budget Bill for the year on 21 March 2025 which includes amendments to the Value Added Tax (VAT) Act. The amendments lower the mandatory VAT registration threshold from the current BGN 166,000 to BGN
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Norway signs renegotiated agreement with the EU to combat international VAT fraud
Norway's Ambassador to the EU, Anders H. Eide, signed a renegotiated agreement with the EU on administrative cooperation in VAT on 2 October 2024. The agreement aims to combat international VAT fraud. The full announcement was published on 21
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Bulgaria: Parliament adopts 2025 state budget
Bulgaria’s National Assembly has adopted the draft law on the state budget for 2025 at its second reading on 21 March 2025. The 2025 budget proposes no tax increases and projects a deficit of 3% of the gross domestic product (GDP). It forecasts
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