Rapid Tax Updates

Catch up on essential VAT news, industry developments, and quick takes on tax changes.

Poland

📢 Final Consultation on Mandatory e-Invoicing!

November 8, 2024

Poland’s Ministry of Finance has launched the final consultation phase for the National e-Invoicing System (KSeF). Key dates: • Feb 1, 2026 – Mandatory KSeF for taxpayers with sales over PLN 200 million in 2025 • April 1, 2026 – Mandatory for all other taxpayers • Sept 30, 2026 – Transitional period for small taxpayers using limited invoices 🗓️ Comments due by Nov 19, 2024 (or Nov 22 for specific invoice structures).

Kenya

📜 New Tax Amendments in Progress

November 6, 2024

Kenya’s Parliament is reviewing the Tax Laws (Amendment) Bill 2024, proposing a Significant Economic Presence Tax for digital services and a Minimum Top-Up Tax for multinationals.

Israel

📊 2025 Budget Proposal: VAT Rate Increase

November 6, 2024

Israel’s proposed 2025 budget includes a 1% increase in the VAT rate, moving it to 18%. This adjustment, along with other measures, reflects budgetary goals.

Europe

🌐 ViDA Proposal Agreed

November 5, 2024

The EU’s VAT in the Digital Age (ViDA) proposal, which simplifies e-invoicing and reporting requirements, has been approved. The new rules will impact cross-border and domestic transactions by 2030, with a push for member states to adopt digital reporting sooner.

Latvia

📢 Mandatory e-Invoicing Approved!

November 5, 2024

Latvia is introducing mandatory e-invoicing for B2B transactions in goods and services starting January 2026. Detailed regulations will follow by July 2025. This change, recently approved by Latvia's Saeima, is aimed at enhancing digital compliance.

Isle of Man

💼 New Indirect Tax Updates!

November 4, 2024

In response to the UK’s Autumn Budget, Isle of Man is set to introduce VAT on private school fees and raise tobacco duties. Alcohol duty on draught products will decrease from February 2025.

Cyprus

🚨 Zero VAT on Essentials!

November 4, 2024

From November 4, 2024, to December 2025, Cyprus has implemented a 0% VAT rate on essential goods like baby milk, diapers, and fresh produce. This measure is aimed at easing costs for households.

Poland

📑 Updates to KSeF e-Invoicing Mandate

November 1, 2024

Poland’s KSeF system for mandatory e-invoicing will cover all taxpayers starting April 2026. A transition period until September 2026 gives smaller businesses time to adapt.

Chile

🔍 New Compliance Law: Anti-Avoidance & Transfer Pricing Updates

November 1, 2024

Chile’s recent law introduces stringent anti-avoidance rules and updates to transfer pricing, aligning with OECD guidelines. Changes include new controlled foreign company rules and digital VAT mandates for platforms.

United Kingdom

📈 Autumn Budget Highlights: Tax Reforms on the Way

October 31, 2024

UK’s Autumn Budget introduces significant tax changes for non-UK domiciled individuals, CGT rate increases, and Stamp Duty hikes for additional properties. Businesses should also prepare for a new cryptoasset reporting framework by 2026.

Dominican Republic

🖥️ e-Invoicing Regulations Take Effect!

October 31, 2024

The Dominican Republic has rolled out regulations for mandatory e-invoicing under Decree 587-24, applying initially to large taxpayers. Gradual implementation will bring all taxpayers on board.

United Arab Emirates

📲 Mandatory e-Invoicing in 2026!

October 30, 2024

The UAE plans to enforce e-invoicing for B2B and B2G transactions from July 2026. The government is currently working on accreditation for service providers and will update legislation by mid-2025.

Canada

📉 HST Reduction Announced!

October 30, 2024

Nova Scotia will reduce its Harmonized Sales Tax rate to 14% starting April 2025, aiming to support households and businesses.

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