The United States and the European Union agreed to suspend all supplemental tariffs between them resulting from the large civil aircraft dispute for four months effective as soon as internal procedures on both sides are completed.
The Court of Justice of the European Union has ruled on the VAT treatment of supplies of services from a head office of a company that was part of a VAT group in one EU member state to its branch in another member state.
The Ministry of Finance has issued an implementing regulation with the detailed arrangements regarding the tax facilities available in special economic zones, including VAT and import duties provisions.
Budget 2021 was delivered on 16 February 2021, with the theme “Emerging stronger together.” The Budget included GST measures in relation to the importation of low-value goods and business-to-consumer imported non-digital services.
Budget 2021/22 was delivered on 24 February 2021, reflecting an improved outlook compared to the October Medium-Term Budget Policy Statement. Announcements included additional spending for the South African Revenue Service.
VAT will be imposed on electronic services provided from abroad and used in Thailand by service recipients not VAT-registered in Thailand, with application to income received or expenses paid as from 1 September 2021.