Autumn Budget 2024

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Global Indirect Tax News

A monthly newsletter covering VAT, goods and services tax, sales tax issues, and global trade issues around the globe

10/10/2024

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Canada: Trade measures relating to China announced
In August and September the government announced a series of important trade and tariff-related measures relating to China in key economic sectors to align with measures taken by Canada’s major trading partners.

Finland: Increase to standard VAT rate
The standard VAT rate will increase from 24% to 25.5% as from 1 September 2024. Changes to the application of the reduced VAT rates are also under preparation, including a potential increase in the 10% reduced VAT rate to 14%.

New Zealand: Customs value of imported goods
The High Court has held that certain licensing and royalty payments made by an importer to its parent company for intellectual property, and relating to post-importation activities, should be included in the customs value of the imported goods.

United Kingdom: Tax policy announcements
The government has announced that the Autumn Budget will take place on 30 October 2024. The government has also made a number of tax policy announcements, including the imposition of VAT on private school fees from 1 January 2025.

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