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World VAT/GST News

World VAT/GST News – November 2019

By November 26, 2019July 10th, 2021No Comments

This handbook will be useful for getting insight into the GST law of India. With this you may guide your clients having operations with Indian Companies.

India – Handbook on GST Provisions in India

This handbook will be useful for getting insight into the GST law of India. With this you may guide your clients having operations with Indian Companies.

The above material is shared by our member from India – CA Bishan Shah. You may directly contact Bishan at: bishan@brsca.in.

Nigeria

From 1 January 2020, the Federal Inland Revenue Service (FIRS) will introduce withholding value added tax at 5% on all e-commerce goods and service transactions.

When introduced, this tax will be charged and collected via banks and credit card companies in the country; this is instead of suppliers. It would also apply to both resident and non-resident providers of these types of goods and services.

It is proposed that the tax would be levied when the sale is made from the online marketplaces (such as Amazon, eBay, Facebook and Instagram, for example).

Quebec

From 1 September 2019, Quebec introduced sales tax (QST) on sales made by non-resident providers of digital services to consumers residing in the province.

Previously, non-resident businesses providing digital services in Quebec did not have to charge QST on their sales. However, in an effort to remove the unfair advantage that this gave to these companies over resident providers, the Quebec Revenue of Finance has implemented QST on these types of supplies at a rate of 9.975%.

This will be subject to an annual registration threshold of C$30k (approx. £18.5k) and applies to a range of electronic services including streaming games, music, apps, films, e-books, e-journals and internet services.

 

The above information was kindly provided by Fiscal Solutions (UK), www.fiscalsolutions.co.uk; contact: contact@fiscalsolutions.co.uk.