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Saudi Arabia operates one of the world’s newest VAT systems, having only adopted the tax on 1st January 2018. Despite the nation implementing a relatively simple set of rules, rates and regulations, many businesses in the region have struggled to implement it effectively over the
It’s been another hectic week in the world of tax, with dozens of countries updating their VAT systems and tax regulations in the run-up to Christmas. We’ve rounded up five of the most important pieces of news from the last seven days: 1) New levy
2020 has been the most volatile financial year in decades, with the Covid-19 pandemic forcing governments around the world into unprecedented levels of borrowing. As those governments now face up to the prospect of trying to repair their damaged economies and tackle the vast debts
Does your business trade in or with Belgium? If so, you’ll probably be aware of the complexities and nuances of one of Europe’s most comprehensive and well-established VAT systems. From the latest rates and rules to exemptions, a unique reporting requirement and how to submit
The world of tax moves at a frantic pace – and never more so than during a global pandemic! As governments continue to make changes to VAT rates and rules and further measures are introduced to combat the economic impact of Covid-19, we aim to
Oman is set to become the latest country to adopt a VAT system, with legislation for the tax due to come into effect in April 2021. As with any VAT implementation, there is a vast range of rules, rates and regulations for businesses to get
From Brexit plans to the US election, discover the latest tax changes around the globe in this week’s collection of five tax updates. 1)UK’s Chancellor announces VAT deduction for financial services. Rishi Sunak, the UK’s Chancellor of the Exchequer, has revealed plans for financial
The United Arab Emirates introduced a VAT system in 2018, placing a new wave of requirements on businesses based in or trading with the country. From Designated Zones to pre-payments and different taxes for each of the UAE’s seven emirates, there is plenty to get
This week’s collection of tax updates is focused on several countries from across the globe: UK, France, Bahrain, Saudi Arabia, Thailand and Australia. Take a closer look at the details collated for you here in our latest round-up of global tax news. 1) UK –
Update – 18th October 2020 The Official Gazette of Oman has published the country’s VAT Law, confirming VAT will come into effect on 16th April 2021. It included 106 articles across 13 chapters and covered regulations on everything from registration to zero-rated and exempt supplies,
