UK: 
USA:
With 2024 only 41 days away, we’re taking a look at some of the indirect tax rate changes due to come into effect on 1st January.
These rate changes have all been confirmed or approved in parliament and must be applied on all transactions from New Year’s Day.
Canada
Certain large businesses will need to pay a 3% Digital Services Tax on in-scope digital services revenues from customers based in Canada. It will also be applied retrospectively for two years.
Czechia
Czechia’s reduced rates of 15% and 10% are being consolidated into a single reduced rate of 12%.
Estonia
A 2% rise to VAT will come into effect, taking the standard rate to 22%.
Finland
A range of goods will be recategorised from 1st January, with books, hotel services, film screenings, public transport and television and radio royalties moving from a 10% rate to 14%. Meanwhile, tampons and nappies will be reduced from 24% to 14%.
Germany
The cut on VAT in the hospitality sector will come to an end on 31st December. From New Year’s Day, VAT for restaurants, cafes and catering will return to a rate of 19%.
Greece
The Covid-19 rate cut to 13% for non-alcoholic drinks, transport and tourism will end.
Ireland
VAT on electronic and audio books will be reclassified to zero, bringing it in line with the rate set for printed books.
Liechtenstein
VAT rates in Liechtenstein will rise on New Year’s Day as the country tracks the changes set to come into effect in neighbouring Switzerland. This means the standard rate will increase from 7.7% to 8.1%.
Luxembourg
Following a one-year cut through 2023, the VAT rate will return to 17% in 2024.
Malaysia
Online sellers or marketplaces will be required to charge 10% Sales Tax from 1st January 2024 on low-value imported goods being sold for under RM 500.
Malta
An extra reduced rate of 12% will come into effect in Malta, adding to the existing 7% and 5% reduced rates in operation.
Singapore
GST will rise from 8% to 9% on 1st January 2024; the second part of a two-phase increase having changed from 7% to 8% in January 2023.
Spain
The temporary zero-rating of basic foods – including bread, flour, cheeses, eggs and fruits – will come to an end and VAT on these products will revert to the standard rate.
Sri Lanka
Sri Lanka’s standard rate of VAT will increase from 15% to 18%.
Switzerland
The standard rate of VAT will rise from 7.7% to 8.1%, while the reduced rate will increase from 2.5% to 2.6%.
