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VAT: All UK VAT payments postponed for three months

VAT: All UK VAT payments postponed for three months

Due to the coronavirus pandemic, the UK government has announced that VAT payments have been deferred until the end of June 2020. This means that £30 billion worth of taxes will be delayed, and this will benefit around 2 million UK VAT payers. For monthly UK VAT...
VAT: Mexico imposes 16% digital services VAT

VAT: Mexico imposes 16% digital services VAT

Mexico is the latest nation to impose a digital service VAT that is provided to Mexican residents by foreign companies. The 16% VAT regulation and its registration and compliance rules will come into effect from 1st June 2020 and will differentiate between B2B and B2C...
VAT: Coronavirus Threat Causes VAT Cuts Worldwide

VAT: Coronavirus Threat Causes VAT Cuts Worldwide

Countries that are experiencing the effects of the coronavirus to the worst extent are in the process of putting VAT cuts in place. This is due to the alarming losses these countries have seen as a result of the effect the virus has had on their economies. China has...
VAT: Russia Proposes 15% VAT cut in July 2020

VAT: Russia Proposes 15% VAT cut in July 2020

A proposal has been sent to the Russian parliament to reduce the standard VAT rate from 20% to 15% on 1 July 2020. Furthermore, the reduced VAT rate will also be decreased by 16.67% to 13.04%. The VAT charge estimates that by reducing the VAT rate by 5% it will...
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