Sri Lanka proposes VAT and income tax reforms
Sri Lanka has announced a series of tax reforms through proposed legislation published on 21 February 2025. The changes, affecting VAT and income tax, will be implemented in phases from April 2025. A key measure is the introduction of an 18% VAT
See MoreWTO Working Paper: Evolution of Preferential Trade Under Regional Trade Agreements
A WTO working paper of 7 February 2025, written by Rohini Acharya and Thakur Parajuli has the title The Evolution of Preferential Trade Under Regional Trade Agreements: Has Anything Changed? The paper looks at the question of whether the share of
See More
Lithuania: Government approves VAT Law amendments to align with EU Directive
The Lithuanian government approved amendments to the VAT Law to incorporate provisions of EU Directive 2022/542. Lithuanian Prime Minister Gintautas Paluckas made this announcement on 12 February 2025. Earlier, the Ministry of Finance has made
See More
Ghana publishes review of VAT system
Ghana's Ministry of Finance has published a "A Review of Ghana's Value-Added Tax (VAT) System" on 11 February 2025. This report, jointly produced with researchers from the Institute for Fiscal Studies (UK) analyses the design and administration
See More
Italy: Google settles tax dispute for EUR 326 million, Amazon faces EUR 3 billion VAT evasion penalty
Google has settled a tax dispute with Italy’s tax authorities by paying EUR 326 million for alleged unpaid taxes from 2015 to 2019. The payment includes sanctions, penalties, and interest. Italian prosecutors had investigated Google for not
See More
Poland: Senate passes various VAT changes
Poland’s Senate has approved several VAT amendments, including extending the reverse charge mechanism for gas, electricity, and greenhouse gas services and maintaining an 8% reduced VAT rate for certain agricultural goods. Additional VAT
See More
EU Council approves new electronic VAT exemption certificate law
The European Commission, in a release on 18 February 2025, announced the Council had adopted a new legislative package introducing an electronic certificate for VAT exemptions, marking a significant step towards simplifying tax procedures and
See More
Lithuania: Government approves draft law to implement EU VAT scheme for small businesses
The Government of Lithuania approved the draft Law prepared by the Ministry of Finance on 5 February 2025, which proposes to transpose the new provisions of the European Union (EU) legislation adopted in the field of value added tax (VAT) that are
See More
UAE updates excise tax on e-smoking, VAT correction rules
The UAE Ministry of State for Financial Affairs issued Ministerial Decision No. 1 of 2025 on 3 January 2025, revising the excise tax framework for electronic smoking devices. This decision, effective from 3 January 2025, replaces Ministerial
See More
Czech Republic issues guidance on VAT rules for fuel cards
The Czech Republic’s General Financial Directorate (GFD) has issued updated guidelines on applying value-added tax (VAT) for fuel cards. Under the guidance, fuel card issuers can use the “commissionaire” model to act as a buyer and seller
See More
Hungary: EU approves reverse charge extension for insolvency supplies
Hungary has announced that the EU Council Implementing Decision 2024/3209 of 23 December 2024 has approved the extension of the reverse charge mechanism under the VAT Directive (2006/112) until 31 December 2026. This applies to supplies of capital
See More
Romania: VAT exemptions for hospital supplies, changes to VAT deposit return system
Romania’s government has announced an extension of the value-added tax (VAT) exemption to include certain supplies provided to hospitals on 20 December 2024. Additionally, changes were made to the VAT regime for non-reusable primary packaging as
See More
World Bank: Survey of Corporate Tax Incentives for Green Growth
A World Bank blog published on 13 February 2025, written by Hania Kronfol, Eduardo Antonio and Jimenez Sandoval, assesses the use of corporate tax incentives to encourage environmentally friendly investment. The blog refers to a World Bank
See More
Peru extends reduced VAT rates for tourism sector Until 2027
Peru’s Congress has extended reduced VAT rates for hotels, restaurants, and tourist accommodations until 31 December 2027. The rates will remain at 8% for 2025 and 2026, before increasing to 12% in 2027. The measure, introduced under Law 32219,
See More
Switzerland issues final VAT guidelines for e-commerce platforms
The Swiss Federal Tax Administration (FTA) issued final guidelines on 28 January 2025, concerning platform rules for goods. Under the new Article 20a of the VAT Act, platforms that enable transactions through electronic interfaces will be deemed
See More
Belgium announces modernisation of VAT rules
Belgium has issued Guidance (Circular 2025/C/6) on 27 January 2025, announcing various updates to the VAT rules by modernising procedures, compliance, and refunds. The key changes include new deadlines for periodic and special VAT returns, VAT
See More
Kazakhstan proposes VAT rate increases and exemptions in tax code overhaul
The Kazakhstan government has introduced proposed amendments to its Tax Code on 11 February 2025, aimed at reshaping the country’s VAT framework. The key changes include raising the standard VAT rate from 12% to 16%, alongside a new reduced 10%
See More
EU Parliament approves digital age VAT package
The European Parliament has approved the VAT in the Digital Age (ViDA) Package on 12 February 2025. This update aims to modernise the EU's VAT system, fight VAT fraud, and simplify administrative tasks for small businesses and service
See More