Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 21-9-2016 Last Replied Date:- 24-9-2016 – In India, we are entering into GST regime from the existing indirect tax regime which is a major change in the taxation area. The Constitution has been amended authorizing the Central Government and State Government to levy GST, IGST. The Hon ble President India has also notified the GST Council which began its functioning for the smooth adoption of GST which is expected with effect from 01.04.2017. The new tax rates are to be determined by the Council. EYGM Limited has brought a book entitled WORLDWISE GST, VAT, SALES TAX GUIDE, 2016 (as on 01.01.2016). This book describes the indirect tax systems in 115 countries including India. For each country the book gives – At a glance, what are the basic features of the major indirect tax in this country? What is the scope and who is taxable? What are the rates and how has the country defines the time of supply? When can taxpayers reco
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s – 1.5% HT Rates – 1% 5 Australia GST 01.07.2000 AUD – 75000 AUD – 150000 for non profit bodies 10% 6 Austria VAT 01.01.1973 EUR 30000 Standard – 19%, 20% Reduced – 10%, 13% 7 Azerbaijan VAT 01.01.1992 AZN 200000 for a period 12 consecutive months 18% 8 Bahamas VAT 01.01.2015 BSD 100000 7.5% 9 Barbados VAT 01.01.19974 BBD200000 Standard -17.5%; Reduced – 7.5% 10 Belarus VAT 19.12.1991 No Standard – 20%; Reduced-10% 11 Belgium VAT 01.01.1971 No Standard -21% Reduced -6%,12% 12 Bolivia VAT July 1986 No 13%-nominal rate; 14.99% – effective rate 13 BES Islands (Bonaire, Sint, Eustatius and Saba) GET – General Expenditure Tax 01.01.2011 No Bonaire – Service-6%; Goods-8%; import -8%; others-25%,7%,0% Sint, Eustatius and Saba- Service – 4; goods – 6%; import -6%; others-5%,10%, 18%,22%,30% 14 Bostwana VAT 01.07.2002 BWP 1million 12% 15 Brazil Multiple taxes 16 Bulgaria VAT 01.04.1994 BGN50000 Standard- 20% Reduced-9% 17 Canada GST HST 01.01.1991 01.04.1997 CAD 30000 GST – 5%; HST – 9.95% to
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000 Standard – 24; reduced-10% & 14% 34 France VAT 10.04.1954 None Standard – 20%; Reduced-2.1%, 5.5%,10% 35 Georgia VAT 24.12.1993 GEL100000 Standard-18%;Reduced- 0.54% 36 Germany VAT 01.01.1968 None Standard – 19%; Reduced-7% 37 Ghana VAT 18.03.1998 GHS200000 Standard – 15% 38 Greece VAT 01.01.1987 None Standard – 23%; Reduced-6%, 13% 39 Guatemala VAT 01.07.1992 No Standard-12%; Reduced -5% 40 Honduras VAT 01.01.1964 No Standard-15%;Other -18% 41 Hungary VAT 01.01.1998 No Standard-27%; Reduced-5%, 18% 42 Iceland VAT 01.01.1990 ISK1000000 Standrad-24%; Reduced-11% 43 Indonesia VAT 01.01.1984 IDR4.8 billion 10% 44 Ireland, Republic of VAT 01.11.1972 Services-EUR37500 Goods-EUR70000 Standard-23%; Reduced -9% and 13.5% 45 Isle of Man VAT 01.04.1973 GBP82000 Standard-20%; Reduced-5% 46 Israel VAT 01.07.1976 ILS100000 17% 47 Italy VAT 01.01.1973 No Standard-22%; Reduced-4%,5%,10% 48 Japan Consumption tax 01.04.1989 JPY10million 8% 49 Jersey, Channel Islands GST 06.05.2008 GBP300000 5%
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llion; Voluntary-MNT10 million 10% 68 Morocco VAT 01.01.1986 No Standard-20%; Reduced-7%,10% & 14% 69 Myanmar Commercial tax 31.03.1990 MMK20000000 Goods – 5% – 120%; Services-5% 70 Namibia VAT 27.11.2000 NAD500000 15% 71 Netherlands VAT 01.01.1969 No Standard-21%; Reduced-6% 72 New Zealand GST 01.10.1986 NZD60000 15% 73 Nicaragua VAT 06.05.2003 No 15% 74 Nigeria VAT 24.08.1993 No 5% 75 Norway VAT 01.01.1970 NOK50000 Standard-25%; Reduced-10% & 15% 76 Pakistan Sales tax 01.11.1990 PKR5million or utility bills exceed PKR800000 Goods-17%; Services-16%, 15% & 14%; Others-24%,19.5%18.5%, 18% 77 Panama VAT 22.12.1976 USD360000 Standard-7%; Other-10%, 15% 78 Papua New Guinea GST 01.01.2004 PGK250000 10% 79 Paraguay VAT 01.07.1992 No Standard-10%;Reduced-5% 80 Peru VAT 01.08.1991 No 18% 81 Philippines VAT 01.01.1988 PHP1919500 12% 82 Poland VAT 05.07.1993 PLN150000 Standard-23%; Reduced-5%,8% 83 Portugal VAT 01.01.1986 No Standard-23%; Intermediate-16% Reduced-6% 84 Pureto Rico Sa
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an Business tax 13.06.1931 No VAT-5%; Gross business receipt tax-0.1% to 25% 101 Tanzania VAT 01.07.2015 TZS100 million 18% 102 Thailand VAT 01.01.1992 THB1800000 7% 103 Trinidad and Tobago VAT 01.01.1990 TTD500000 12.5% 104 Tunisia VAT 02.06.1988 TND100000 Standard-18%; Reduced-6% and 12% 105 Turkey VAT 02.11.1984 No Standard-18%; Reduced-1% and 8% 106 Uganda VAT 01.07.1996 UGX150million 18% 107 Ukraine VAT 01.01.1992 UAH1000000 Standard-20%; Reduced-7% 108 United Kingdom VAT 01.041973 GBP82000 Standard-20%; Reduced-5% 109 United States No uniformity among states 110 Uruguay VAT 29.12.1972 No Standard-22%; Reduced-10% 111 Venezuela VAT 01.10.1993 No Standard-12%; Other-maximum16.5% 112 Vietnam VAT 01.01.1999 No Standard 10%; Reduced-5% 113 Zambia VAT July 1995 ZMW80000 16% 114 Zimbabwe VAT 01.01.2004 USD60000 15% Source: Worldwide VAT, GST, Sales Tax Guide, 2016. – Reply By Ganeshan Kalyani – The Reply = nice compilation sir. thanks.Aruba country is having lowest tax rate of 1% and 1.
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