UK: 
USA:
As the new financial year approaches, it’s been a busy time for VAT and other indirect tax news and rate changes.
Take a look at our latest round-up of all the key updates announced in recent weeks.
Azerbaijan
Several new VAT exemptions have been introduced in Azerbaijan for a period of three years. These include exemptions on agricultural product sales, services related to F1 and F2 racing, medical services provided by educational medical institutions and revenues from wheat, wheat flour and bread.
Chile
Since applying VAT to sales of digital services by foreign providers in 2020, Chile has revealed it has now collected over $1 billion from qualifying businesses. The providers that have paid the most VAT include Google, Netflix and Apple.
Ecuador
The standard VAT rate in Ecuador will increase from 12% to 13% on 1st April – and there are reports it could soon rise further to 15%.
France
The reduced rate for products used to fight Covid-19 has been extended once more. The lower rate of 5.5% on items such as masks and hygiene products will remain in place until 31st December.
Ghana
The planned implementation of VAT at 15% on residential electricity use has been suspended in an attempt to alleviate the financial burden on consumers.
Indonesia
A VAT discount on electric vehicles has been announced. The government will bear 10% of the VAT on each vehicle, meaning buyers will pay just 1%.
Israel
An updated 2024 budget has confirmed VAT will rise from 17% to 18% in 2025.
Italy
Baby items (including nappies, car seats and food) and feminine hygiene products are now subject to VAT at 10%, following a temporary reduction to 5% in 2023.
Kazakhstan
Plans to raise the standard VAT rate by 4%, taking it to 16% by 2025, have been cancelled by the national government.
Malaysia
The rate of Sales and Service Tax will rise from 6% to 8% on 1st March. Foreign digital service providers will also be liable for the tax from this date.
Morocco
From 14th February, non-resident providers of digital services are liable for VAT in Morocco.
Philippines
The government has announced an expansion of its VAT exemption for medications, meaning more drugs will be added to the exemption list.
Senegal
VAT at the standard rate of 18% will be imposed on non-resident digital service providers trading in Senegal from 1st April.
Tanzania
President Mwinyi has confirmed VAT will be exempt on sugar imports during the holy period of Ramadan. He said the government is taking as many steps as possible to control inflation.
Thailand
Thailand has become one of a small number of countries to reduce the tax burden on cryptocurrency traders. An exemption from the 7% VAT on earnings derived from cryptocurrencies has been introduced.
USA
The US state of Nebraska has announced an expanded list of Sales Tax exemptions, covering industries such as agriculture, construction and non-profit organisations.
