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UK: Only the owner of the imported goods can deduct the import VAT as from 15 of July 2019

HMRC is aware of incorrect treatment by businesses whereby import VAT has been incorrectly deducted as input tax by non-owners of the goods.  As from 15th July 2019, HMRC will only allow claims for input VAT deduction if the owner is the importer and pays the UK import VAT. 341 more words

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CANADA: No more surtax on steel and aluminium as from 20, May 2019

On May 17, 2019, Global Affairs Canada released a joint statement with the United States, announcing the elimination (which became effective May 20, 2019) of all tariffs imposed by the United States under section 232 of the Trade Expansion act of 1962 (19 USC §1862) – duties on steel and aluminum, and all retaliatory tariffs imposed by Canada… 345 more words

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POLAND: Mandatory split payment as of September 1, 2019

On May 16, 2019 the Polish legislator published draft of amendments to the VAT act aimed at introducing mandatory split payment mechanism for selected goods and services in Poland. 778 more words

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NEW ZEALAND: Proposed changes in Goods and Services Tax for telecommunications

The New Zealand Government has proposed to make changes to the goods and services tax (GST) telecommunications rules. The move is designed to bring New Zealand into line with OECD and international trends in relation to the provision of telecommunications services with focus on the customer’s usual place of residence. 392 more words

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BANGLADESH: Implementation of the VAT and Supplementary Duty Act 2012 as of July 1st 2019

The reduced VAT rate and tariff value system are to be revoked in order to implement the single VAT rate system. However, it has been reported that the National Board of Revenue may implement multi-tier VAT rates instead of a single rate. 625 more words

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UAE: Dubai Customs introduces new benefits for air shipments completed by courier companies as from 1 of July 2019

Dubai Customs has decided to provide additional customs benefits to air shipments completed by courier companies to facilitate and reduce the cost of exporting or transiting low value consignment goods in/from Dubai. 369 more words

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JAPAN: Increase of the consumption tax rate as from 1 of October 2019

On October 1, 2019, the Japanese consumption tax (JCT) rate will be raised from 8% to 10%. Taxable sales and taxable purchases conducted on or after that date are generally subject to JCT at 10%. 217 more words

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