Change to tax law is as certain as tax itself.
The 1st of April is a favourite of governments around the world for ushering in tax changes.
Here’s a snippet of some changes that are coming into force in GST, VAT and other indirect taxes on 1 April:
Albania – Supplies of medical services and medicines will be exempt from VAT, alcohol and tobacco excise taxes will rise and energy drinks will become subject to excise tax.
Cook Islands – The standard VAT rate will increase from 12.5% to 15% and import charges on some foodstuffs will reduce to zero.
France – CO2 content will become the basis for calculating excise taxes on energy products.
Japan – The rate of Consumption Tax will increase from 5% to 8%.
Lithuania – Excise duty on alcohol products will increase.
New Zealand – Non-residents will be able to claim refunds of GST for New Zealand business expenses under an enhanced registration system.
South Africa – Foreign suppliers of electronic services to residents in South Africa will have to register for VAT and charge South African VAT.
So, a busy day for indirect tax changes. Don’t be fooled!
The South African measure is especially interesting and deserves more comment in a separate post.