The Dutch government has announced that administrative fines for non-payment or late payment of VAT on e-commerce transactions will resume on January 1, 2025, following a temporary waiver that began with the implementation of the EU’s 2021 e-commerce VAT reforms. This decision comes after addressing initial compliance challenges and aims to reinforce adherence to the One Stop Shop (OSS) VAT report... Read more

Making Tax Digital (MTD) is a UK government initiative aimed at modernizing the tax system and improving compliance by requiring businesses to maintain digital records and submit tax returns electronically. Effective from April 2022, MTD is mandatory for all VAT-registered businesses, with limited exemptions available. Making Tax Digital (MTD) is a UK government initiative designed to modernize th... Read more

On December 25, 2024, China’s Standing Committee of the National People’s Congress passed a comprehensive Value Added Tax (VAT) law, which will take effect on January 1, 2026. This legislation aims to modernize and unify the VAT system, aligning it with international standards while maintaining the existing rate structure. The new law clarifies taxable transactions, updates exemptions, and establi... Read more

The Bureau of Internal Revenue (BIR) in the Philippines has resumed its electronic invoicing project, initially targeting the top 100 taxpayers. Companies are advised to prepare their systems for this transition to avoid penalties. The new Electronic Invoicing System (EIS) will streamline tax reporting by allowing vendors to send and store sales data through electronic invoices, with specific taxp... Read more

Starting January 1, 2025, the Netherlands will resume payment default fines for VAT e-commerce, following the resolution of initial compliance issues within the Member State of Consumption (MSCON) process. The recent announcement by the State Secretary outlines significant changes regarding VAT e-commerce regulations in the Netherlands, effective January 1, 2025. After a temporary waiver, payment... Read more

During its 55th meeting on December 21, 2024, the GST Council clarified that transactions involving vouchers will not be classified as supplies of goods or services, thus exempting them from GST. This decision aims to resolve ongoing disputes regarding the taxation of gift vouchers, following previous confusion stemming from a ruling by the Karnataka Authority for Advance Rulings. The ruling is ex... Read more