Cabinet Decision No. 100 of 2024 updates VAT registration and deregistration processes in the UAE. Key changes include updated thresholds for mandatory and voluntary registration, streamlined deregistration procedures, revised tax group rules, and new exemption conditions. Businesses must reassess their compliance to avoid penalties and ensure efficient VAT management ahead of 2025. The processes... Read more

Tourists in Thailand can get a VAT refund on goods taken out of the country within 60 days. You must shop at approved stores, spend at least 2,000 THB (52.64 Euros) per store per day, keep receipts, and get a P.P.10 form. At the airport, have customs inspect your items and then claim your refund after immigration. Refund amounts depend on how much you spend, and luxury items require extra checks.... Read more

New Zealand's Government Procurement Rules will require large suppliers to issue e-invoices for domestic transactions from 1 January 2027. This is aimed at promoting efficiency and transparency, and may exclude international suppliers and foreign currency transactions. The rule applies to domestic transactions in New Zealand dollars, excluding international suppliers and cross-border transactions.... Read more

Colombia's tax agency proposed a 1.5% withholding tax on electronic payments, exempting credit/debit transactions and certain natural persons. Decree 1,066 enables information sharing for determining tax obligations. A statement outlining plans to implement a new withholding tax on specific electronic payments was released by Colombia's tax agency. Recently, a draft regulation was made available... Read more

Article 52 mandates e-commerce platforms establish accessible complaint systems for users, ensuring timely, fair processing based on evidence. Owners must inform complainants of decisions and resolution options. Disputes must follow published contract terms and relevant laws, utilizing negotiation or mediation methods. The Law on E-Commerce (the "Draft Law"), which is anticipated to be presented t... Read more

Understanding FTA audits is critical for UAE businesses to ensure compliance with VAT, corporate tax, and zakat regulations. Audits trigger from discrepancies in filings, profit fluctuations, unusual refund claims, and more. Legal frameworks grant FTA broad audit powers, with timelines for assessments typically being up to five years. Businesses must maintain extensive records, retain documents fo... Read more

Saudi businesses now face intensified scrutiny from ZATCA regarding VAT, corporate tax, and zakat filings due to evolving tax frameworks in the Gulf. Audits are risk-driven, focusing on discrepancies and unusual patterns. ZATCA reviews comprehensive financial records and mandates adherence to specific documentation. Audit types include desk, field, and electronic audits. Penalties for non-complian... Read more