On the one hand, the year-end can be a time to reflect on all the events during the year and also to spend time with our loved ones and friends.
Then again, in professional terms, the year-end is also the time to look ahead and to prepare for the global developments in terms of VAT and GST – some of which we would like to share with you in our fourth edition of the WTS Global VAT Newsletter in 2020.
As the economic and social impacts of the coronavirus disease (COVID-19) continue to chal-lenge the world, WTS Global continuously updates an overview of the measures taken by various countries to respond to the tax aspects of this crisis: https://wts.com/global/insights/covid19
France is preparing for the go-live of the VAT e-commerce package regulations. After having re-duced the VAT rates for a limited period, Germany is preparing to go back to “normal” – with a new twist affecting work deliveries.
Beyond Europe, Chile is aiming to foster its economy by modifying VAT exemptions on invest-ments in capital assets. Lastly, the Kingdom of Saudi Arabia and its tax administration is provid-ing guidance on collaterals for mortgages.
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