Tax & Accounting Blog

August 2014 International Tax Update

Blog, Indirect Tax, ONESOURCE, Tax Information Reporting, VAT Tax Rates September 8, 2014

The month of August 2014 saw tax changes across several countries. The following is a list of those countries that have had recent change or have recently announced upcoming changes.


The Government will enact a new law on Value Added Tax, which will impose a single VAT rate of 15% at all levels. The Value Added Tax Bill 2012 has been sent to the Parliamentary Standing Committee for scrutiny. It is expected that the new law will not become effective until 2015.


The government announced the intention to present a tax reform within the next few weeks that could include a VAT increase from the current rate of 16% to 17% or 18%.


The Government of Egypt may increase the sales tax rate to generate more revenue and has not determined if the sales tax will be replaced with a VAT.


The European Commission has requested that France no longer treat admission to sporting events as exempt from VAT. The government of France has 60 days to respond to the request or risk the matter being referred to the European Court of Justice.


The Revenue Office has submitted a proposal to increase the sales tax rate from 15% to 18% on the sale of weapons.


Kuwait has announced that it is considering implementing a VAT.


The Prime Minister has announced a plan to increase VAT in 2015.


The Government may increase the standard rate by 1-2% as part of its commitments to the European Union and the International Monetary Fund.


Qatar has announced that it is considering implementing a VAT.


Representatives of the governing party announced a decrease in the standard VAT rate from 24% to 22% in 2014.


The Government announced that it will replace the current Turnover Tax with a Value Added Tax. No official date of introduction has been announced.


The Government announced that it will decrease its current VAT rate from 7% to 6.4% beginning October 1, 2014 and then increase the VAT rate all the way up to 9% beginning October 1, 2015.


The Government has proposed a 1% increase to VAT to fund the National Health Insurance (NHI). If the increase is approved, the VAT rate in Zimbabwe will be 16%.


Uganda’s 2014/2015 Budget Ended Exempt or Zero-Rated tax treatment for a number of products, including: Insurance Agents, Brokers, & Service, Computers, hardware, and software, Dryers for agricultural products, and Milk.