VAT

THAILAND: Overseas E-Service Operators Liable for VAT from September

24 February 2021

VAT is to be payable on services digitally delivered by oversea-based suppliers from 1 September this year. In line with this, all such businesses will be required to register for VAT and to submit monthly returns and associated payments without deducting any output tax. More

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China Customs Announces Measures for Implementation of New Catalogue of Encouraged Foreign Investment Industries

11 February 2021

The General Administration of Customs recently issued a circular relating to the implementation of the latest edition (2020 edition) of the country’s Catalogue of Encouraged Industries for Foreign Investment (Order No. 9 [2021]). More

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Guangdong Extends Pilot Programme of Input VAT on Agricultural Products

08 February 2021

The Guangdong Provincial Tax Service of the State Taxation Administration and the Department of Finance of Guangdong Province recently announced in a joint circular (No. 5 [2020]) that extends to the soy sauce and fermented black bean manufacturing industries a pilot programme relating to assessment and deduction of input value-added tax (VAT) on agricultural products. More

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Departure Port Tax Rebate Policy Implemented in GBA

27 January 2021

On 3 December, the Department of Finance and two other government departments of Guangdong province jointly announced new value-added tax (VAT) policies for the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) (Yue Cai Shui No. 22 [2020]). More

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Newly Registered VAT Payers May Now Issue VAT Special Invoices Electronically

27 January 2021

China’s State Taxation Administration recently announced that newly registered value-added tax (VAT) payers across the country may now issue electronic VAT special invoices (STA Announcement No. 22 [2020]). More

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UAE: Federal Tax Authority Clarifies VAT Rules for e-Commerce

26 August 2020

United Arab Emirates (UAE) Federal Tax Authority (FTA) has issued a detailed guide clarifying the application of value-added tax (VAT) on goods and services provided through e-commence platforms or digital marketplaces. More

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THAILAND: Overseas-Based Online Businesses Set to Become VAT-Liable

22 June 2020

Overseas-based e-commerce businesses and digital service providers are set to become liable for value-added tax (VAT) on all income derived from the country. More

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SAUDI ARABIA: Increased VAT and Customs Duties to Impact Imports

10 June 2020

The Saudi Arabian government has announced customs duties increases on about 3,000 goods, effective 10 June 2020. The rate hike, revealed on 27 May 2020, follows an announcement earlier in the month that value added tax (VAT) will also triple, starting 1 July 2020. More

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China Cuts VAT on Used Car Dealership

23 April 2020

In order to promote car consumption, the Ministry of Finance and the State Taxation Administration recently announced that taxpayers engaged in used car dealership who sell the used cars they purchased will be levied value-added tax (VAT) at a further reduced rate under the simplified tax method. More

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VIETNAM: Covid-19 Support Measures Announced for Business Community

23 April 2020

A series of measures aimed at supporting the business community in the face of the ongoing coronavirus outbreak have been announced by the government. More

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