Fiscal subject related
General information
Many of KSEB services, that are incidental or ancillary, related to electricity distribution and transmission, previously subject to an 18% GST, will now be exempt from GST. Services affected include meter rent, new connections, and various other charges.
This is in line with a recommendation made by the GST Council, which met in September. They had recommended GST exemption for supply of services such as application fees for providing electricity connections, rental charges against electricity meter, testing fees, labour charges from customers for shifting meters, or service lines and other charges that are “incidental, ancillary, or integral to the supply of transmission and distribution of electricity.”
Other news from Other countries
Is TikTok Shop subject to taxation in Indonesia?
TikTok Shop has become a popular marketplace in Indonesia, providing sellers with effective marketing opportunities. However, as its use grows, it’s essential for sellers to understand their tax obligations. The TikTok Shop Tax refers to the general tax responsibilities for transactions on the platform, which are governed by existing e-commerce regulations in Indonesia. Sales on TikTok Shop are ta... Read more
Ireland Prepares for Electronic Invoicing and VAT Reporting
Ireland plans to modernize its invoicing and VAT reporting systems, focusing on mandatory electronic invoicing for intra-community transactions, standardized digital reporting, and real-time VAT reporting through Continuous Transaction Controls (CTC). A 2023 public consultation gathered feedback, with a report forthcoming. While electronic invoicing is currently optional, the proposed changes aim... Read more
Voluntary e-invoicing soon to be possible across China
China’s State Taxation Administration (STA) has announced the nationwide rollout of optional digital electronic invoices starting December 2024, granting them the same legal validity as paper invoices. Covering various categories like VAT invoices and transport tickets, these digital invoices will feature unique 20-digit identification numbers and essential transaction details. The State Taxation... Read more
Finance Minister in Indonesia Confirms VAT Increase to 12% Effective January 1, 2025
The Finance Minister has confirmed that the value-added tax (VAT) in Indonesia will increase from 11% to 12%, effective January 1, 2025. This is part of the Tax Harmonisation Law of 2021, which outlines a two-stage VAT rise. Despite facing public criticism regarding potential price impacts, the Minister defended the necessity of this increase The Finance Minister has officially confirmed that the... Read more
Philippines Implements 12% VAT on Non-Resident Digital Service Providers Starting June 2025
In October 2024, the President signed Senate Bill 2528, which introduces a 12% value-added tax (VAT) on non-resident digital service providers (DSPs) in the Philippines, effective by June 2025. The Bureau of Internal Revenue (BIR) stated that non-resident DSPs will not need local tax representatives for VAT compliance but can appoint a local third-party service provider for administrative tasks. T... Read more
Reminder: South Africa released draft bill with proposed changes across various tax laws
The South African National Treasury released the draft Taxation Laws Amendment Bill (B16-2024) on October 30, 2024, proposing significant changes to various tax laws. Following the release, a public comment period will allow stakeholders to provide feedback on the proposed amendments. The National Treasury will consider these comments and may revise the draft before it is formally introduced in Pa... Read more
New Zealand Digital Platform Reporting: Key Details for Early 2025
In 2023, the New Zealand Inland Revenue announced new reporting obligations for digital platforms, effective in 2024, based on the OECD Model Rules for Reporting by Platform Operators in the Sharing and Gig Economy. These rules require digital platforms in New Zealand to collect and report data on sellers receiving fees for specified services. With the reporting deadline approaching (February 7, 2... Read more