COVID-19 Calls for VAT Cuts
Back on 20 March the UK’s Chancellor made a statement announcing the delay on payment of VAT returns between the period of 20 March and 30 June 2020 to all VAT registered businesses.
Guidance on the postponement of payments, exemptions and confirmation that the deferral is until 31 March 2021 can be found on HMRC’s website.
The UK has implemented measures to ensure businesses have flexibility during the effects of Coronavirus, but COVID-19 is affecting the entire world. When it comes to tax, countries are making decisions to enforce emergency tax breaks, VAT cuts and filing deadline extensions in a bid to support economies. Avalara shares the global measures as they are to date country by country here.