WORLD WIDE GST, VAT, SALES TAX RATE
By: – DR.MARIAPPAN GOVINDARAJAN
Goods and Services Tax – GST
Dated:- 21-9-2016
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
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.07.1993
AMD 115000000 for calendar year
20%
4
Aruba
Revenue Tax
01.01.2015
–
RT rates – 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%
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VAT under consideration)
03.05.1991
EGP54000
EGP150000
10%; other – 1.2% to 45%
30
El Salvador
VAT
01.07.1992
USD5714.29
13%
31
Estonia
VAT
01.01.1991
EUR16000
Standard-20%; Reduced- 9%
32
European Union
01.01.1993
33
Finland
VAT
01.06.1994
EUR10000
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
Serv
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illion
Standard-18%;
Reduced-5%
60
Madagascar
VAT
1962
MGA200000000
20%
61
Malaysia
GST
01.04.2015
MYR500000
6%
62
Maldives
GST
TGST(Tourism GST)
02.10.2011
GST-MVR1000000
TGST-No
GST-6%
TGST-12%
63
Malta
VAT
01.01.1999
No
Standard-18%;
Reduced-5% & 7%
64
Mauritius
VAT
07.09.1998
MUR 10million
15%
65
Mexico
VAT
01.01.1980
No
16%
66
Moldova
VAT
01.07.1998
MDL600000
Standard-20%;
Reduced-8%
67
Mongolia
VAT
01.07.1998
MNT 50 million;
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
Pakist
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;
Reduced-10%
90
Seychelles
VAT
01.01.2013
SCR 2million
15%
91
Singapore
GST
01.04.1994
SGD 1 million
7%
92
Sint Maarten
Revenue Tax
01.01.1997
No
5%
93
Slovak Republic
VAT
01.01.1993
EUR49790
Standard – 20%;
Reduced-10%
94
Slovenia
VAT
01.07.1999
EUR50000
Standard-22%; Reduced-9.5%
95
South Africa
VAT
30.09.1991
ZAR50000
14%
96
Spain
VAT
01.01.1986
No
Standard – 21%;
Reduced-4%,10%
97
Suriname
Turnover tax
30.12.1997
No
Service-8%;goods-10%;import-10%;others25%
98
Sweden
VAT
01.01.1969
No
Standard-25%;
Reduced-6% & 12%
99
Switzerland
VAT
01.01.1995
CHN100000
Standard-8%; Reduced-2.5% and 3.8%
100
Taiwan
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
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