The standard rate of VAT (tatimi mbi vleren e shtuar; TVSH) is 20%. There is a reduced rate of 0% applicable to exports of goods, supply of services and goods connected to maritime commercial or industrial activities, and supplies related to international transport. The export of services and the supplies of certain goods and services are exempt from VAT, for example lease and sale of land (under certain conditions subject to 20% VAT), sale of real estate, financial services, and certain supplies in connection with oil exploration. The supply of drugs and medical services offered by private or public health institutions is subject to 10% VAT.
There is no VAT system in Angola at this time. However, there is a consumption tax which to some extent substitutes VAT. Consumption tax is levied on: importation of goods, local production of goods and a range of services (e.g. consultancy services, tourism services). The rate for goods varies from 2% to 30% with the general rate being 10%. The rate for services is either 5% or 10%.
The standard rate of VAT (impuesto al valor agregado; IVA) is 21%. There is a reduced rate of 10.5% for certain goods and services, including, sales or imports of cattle, sheep, camels, goats, and derivatives which are fresh or frozen under certain conditions, imports of certain capital goods included in the tariffs list of the Common Nomenclature of Mercosur (Southern Cone Common Market), certain supplies of services related to the soil (such as preparation) and farming activities (such as sowing and harvest), certain constructions related to dwelling houses, interest on loans from foreign banks located in a country the central bank of which has adopted the international supervision standards of the base Banks Committee, the processing and manufacturing of movable goods in Argentina by a third party, even if the movable property is fixed to immovable property. Such supplies do not include tax-free services supplied through the delivery of movable goods representing simply the material support in relation to a supply, subject to certain restrictions, sales, hiring, and imports of live animals or their meat, fruits, vegetable, honey, grains, dried vegetable, common bread, bakery products, and wheat flour, provision of certain services including sowing, plantation, harvesting, use of chemicals to enrich the soil, building, installation, repairing, maintenance, and preservation of properties destined for housing, sales and imports of newspapers and periodicals, transport services supplied by taxis and other means of transport if the distance traveled is more than 100 km, medical services in specific cases, sales and services provided by certain cooperatives, sales, hiring, and imports of certain gases, and production and distribution of programs, films, and records of any type to be transmitted by radio or television. There is an increased rate of 27% for certain services if they are rendered outside properties exclusively used as a dwelling, entertainment, summer homes or vacant land and the beneficiary of the services is a registered or a small taxpayer, telecommunication services (except services rendered by the national telecommunications agency or news agencies), the supply of gas or electrical power (except public illumination), certain supplies of water, and sewage services. Exports of goods and services are zero-rated. Exempt goods include, among others,: imports and sales of books, retail distribution of newspapers, and periodicals, shares, bonds, and securities, stamps, gold and metallic currency, and airplanes constructed and destined for the transportation of passengers and/or freight and ships for the exclusive use in commercial activities or for defense and security. Exempt services include: services rendered by the state, provinces, municipalities, and institutions belonging thereto, specified medical services, transportation of persons and freight, including international transportation, financial placements and services in those cases listed in the law, services proper of directors, controllers and members of boards of stock corporations and those of managers and members of managing boards of other companies, the letting of immovable property relating to dwelling houses and to farming and the letting of immovable property with monthly rents less than ARG 1,500.
The standard rate of VAT is 20%. There is also a 0% rate which applies to, for example, the export of goods from Armenia, the provision of services, the place of supply for which is outside Armenia, the maintenance of aircraft serving international flights, and the sale of goods in duty free shops in airports. Certain supplies of goods and services are exempt from VAT, for example the sale of magazines and newspapers, scientific research work, the provision of most types of financial services, insurance, and reinsurance activity.
The standard rate of turnover tax (Belasting op Bedrijfsomzetten; BBO) is 1.5%. In certain cases the law provides for tariffs which deviate from the aforementioned and other exemptions.
The standard rate of VAT is 20%. VAT reduced rates of 10% and 12% are applicable on some supplies.
No indirect taxes such as VAT, GST etc. are levied in the Bahamas. However, there are significant import duties and excise taxes on goods brought into the country. Such import duties and excise taxes range from 0% on certain essential items up to 85% on certain luxury vehicles.
There is no VAT or sales tax. Bahrain follows the GCC Unified Customs Duty law and imposes 5% on most imports.
The standard rate of VAT is 15%. There are reduced rates of 6%, 5.5%, 5.0025%, 4.5%, 4%, 3%, 2.25%, 1.5%, and 0% which apply to, for example certain categories of restaurants (without AC), retailer of furniture (Production stage) (6%); construction firm (5.5%); air conditioned bus service, electricity distributor, own branded readymade garments retailers (5.0025%); motor garage, photo producer, security services, legal advisers, carriers without petroleum, rent a car service, immigration advisers, coaching centers, English medium schools, non-government medical and engineering colleges, event management organization, human resources supply and maintenance organization (4.5%); supplies of goods and services through participation in a tender/quotation (4%); retailer of furniture without production stage, buyer of auction goods (3%); pathological laboratory work, supplies of goods and services by hospitals and maintenance and cleaning of building floors/premises, dental medical centers, petroleum carriers (2.25%); land development, construction of apartments, goldsmith or silversmith and gold and silver retailer (1.5%); and exempt from VAT, for example certain food items (such as meat, fish, potatoes, vegetable, and fruits); jute and jute goods; social welfare, culture, training, and rehabilitation services; and agricultural development.
The standard rate of VAT is 17.50%. There is a 7.5% rate which currently applies to the provision of hotel and condo-hotel accommodations. Zero-rated supplies include exports of goods and services, basic food items, printed matter, certain agricultural machinery, and international transport of passengers and freight, as well as importations by approved educational institutions and companies in the international financial services sector, among others. Exempt supplies include certain financial services, health and educational services, and specific supplies of real property. Companies in the international business sector are not required to register for VAT and any VAT which they suffer may be refunded on application to the VAT Division on the prescribed form
The standard VAT rate is 20%. Reduced rates are 10% (applied for clothes for children and some social products, such as grain, milk, butter, fish, flesh and other products included in a list approved by the president), and 0.5% (for diamonds and other precious stones delivered from the Member States of the Customs Union for production purposes), and 0% (export). Some goods and services are exempt from VAT application, such as medical equipment, medicines and other goods and services indicated in the Tax Code.
The standard rate of VAT (taxe sur la valeur ajoutée: TVA / belasting over de toegevoegde waarde: BTW) is 21%.There are reduced rates of 12%, 6% and 0%. The 12% rate applies to, for example social housing (as from 1 January 2007, 6% in certain circumstances), restaurant and catering services (not drinks), fytofarmacie, margarine. Most food and drinks, books, pharmaceuticals, hotel and camping accommodations, passenger transportation, refurbishment works to private dwellings (under certain conditions) and agricultural services are charged at a 6% rate. Newspapers and periodicals published (under certain conditions) are charged with 0%. Supplies of certain goods and services are exempt from VAT, for example financial services, letting of immovable property, hospital services, medical care and cultural activities.
The standard rate of VAT (impuesto al valor agredado; IVA) is 13% of the total price of the service rendered for an effective rate of 14.943%. Exports of goods and services are zero-rated. Exempt services include: financing transactions generating interest income, purchase and sales of shares, debentures, securities and credit title transactions, sales or transfers resulting from companies' reorganizations, capital contributions, imports made by country-accredited diplomats.
Dismantling of the Netherlands Antilles. Standard rate applicable to services reduced to 6% (1 October 2011)
The standard rate of VAT (porez na dodanu vrijednost; PDV) is 17%. There is a reduced rate of 0% which applies to, for example, exports of goods and certain related services. Supplies of certain goods and services are exempt from VAT, for example, financial services, insurance and reinsurance services, education, health care, rent of residential property for a period longer than 60 days, certain supplies of immovable property, dealing in shares, management of investment funds and stamps.
The standard VAT rate is 12%. There is a reduced rate of 0% which applies to exports of goods and services, international transport services, disposal of businesses as going concerns, certain food products not mixed with other products, some pesticides, fertilizers, farming tractors, supplies to the head of state etc. Certain supplies of goods and services are exempt from VAT, for example prescription drugs, residential accommodations, education at approved institutions, public medical facilities and services, non-fee based financial services, and passenger transportation (excluding the transportation of tourists).
The standard VAT rate is 19%. There are two types of VAT in Brazil: a state sales tax (imposto sobre circulação de mercadorias e serviços; ICMS) and a federal excise tax (imposto sobre produtos industrializados; IPI). There are other taxes on supplies of goods or services: a services tax (imposto sobre serviços; ISS), a social contribution for social security financing (contribuição para o financiamento da seguridade social; COFINS) and an employees' profit participation program (programa de integração social; PIS). The standard rate of ICMS is 17% (in São Paulo, Minas Gerais, and Paraná the standard rate is 18% and in Rio de Janeiro it is 19%). IPI is normally charged at an ad valorem (value) rate according to the classification of the product based upon the international Harmonized Commodity Description and Coding System, administered by the World Customs Organization in Brussels. Rates range from 0% to a maximum of 330% and average about 10%. The standard rate of ISS is ranges from 2% to 5%. The standard rates of PIS and COFINS under the so-called non-cumulative regime are 1.65% and 7.6%, respectively. There are reduced rates of 7% and 12% ICMS which apply to inter-state supplies within Brazil depending on the region into which goods are sold and to certain intra-state supplies, for example to diesel oil and hydrated ethyl alcohol fuel, motor vehicles and transport services (12%), products that are part of the basic food basket and products from the electronic data processing industry (7%). Certain supplies are exempt from ICMS, for example supplies of books, newspapers, periodicals, and the paper consumed in the printing of such products, sale of fixed assets, fruits, vegetables, and farm and garden produce and preservatives. The reduced IPI rate of 0% applies to, for example live animals and animal products, plant products, chemical products, textile products, and shoes. Certain supplies are exempt from IPI, for example supplies of vessels (except sporting or pleasure boats), exports, books, newspapers, periodicals, and paper consumed in the printing of such products, electric energy, petroleum products, fuel, and minerals belonging to the country. There are reduced rates of ISS which vary from one municipality to another. Certain supplies are exempt from ISS, for example exports of services, amounts intermediated in the bonds and securities market, the amount of bank deposits, the capital, interests, and default interests regarding credit operations performed by financial institutions. Reduced rates of 0.65% PIS and 3% COFINS apply under a so-called cumulative regime. Unlike the non-cumulative regime there is no recognition of any tax credits under the cumulative regime. Certain supplies are exempt from PIS and COFINS, for example the exportation of goods, the exportation of services with payment in convertible currency, sales of products to a commercial export company for export purpose specifically and sales of fixed assets.
The standard rate of VAT is 20%. On 1 April 2011 the reduced rate of 7% was replaced by a reduced rate of 9% which has applied not only to hotel accommodation where part of a package tour but to any type of hotel accommodation. From January 2012, the 9% rate will apply to accommodation in hotels, sheltered housing and other places for accommodation.
The standard rate of the federal GST is 5%. There is a reduced rate of 0% which applies to zero-rated supplies, for example exports of certain goods, prescription drugs, and basic groceries. Also, certain goods and services are exempt from GST, for example some supplies of residential property, financial services, educational services, and health care services. In addition, all provinces, except for Alberta, impose a value-added tax or a retail sales tax on the sales of taxable goods and services. The provinces of Ontario, British Columbia, New Brunswick, Nova Scotia, and Newfoundland and Labrador apply a harmonized value-added tax known as the harmonized sales tax (HST). The rates of the HST vary from 12% to 15% which include a federal component of 5% and a provincial component (7% to 10%). There is a reduced rate of 0% which applies to zero-rated supplies. The HST applies to the same base of goods and services as the GST. The province of Québecapplies its own value-added tax, the Québec sales tax (QST), at a rate of 9.5% or 0% to generally the same base of goods and services as the GST, except for financial services which are zero-rated. The QST applies to the GST-included price of taxable supplies made in Québec. The provinces of Saskatchewan, Manitoba, and Prince Edward Island levy retail sales taxes in their respective jurisdictions. The retail sales tax rates vary from 5% to 10%. British Columbia proposes to transition back to the 5% GST and a 7% PST effective April 1, 2013. Quebec proposes to harmonize the QST to the GST effective January 1, 2013 including making financial services exempt from QST. Further information to be released at a later date.
There is no VAT or GST in the Cayman Islands.
The standard rate of VAT (impuesto al valor agregado; IVA) is 19%. Locally registered taxpayers can deduct Input VAT as a credit against output VAT. Exports of goods are zero-rated. However exporters can recover the input VAT in cash. Exempt supplies include capital goods imported by foreign investors or companies receiving foreign investment that have subscribed an investment agreement with state of Chile under Decree Law 600; international transportation of cargo or people; certain types of insurance premiums; payments for services provided by persons who are neither domiciled non-resident in Chile and who are subject to income withholding tax; interests on financial and credit transactions and instruments; services provided to persons neither domiciled nor resident in Chile and which are qualified as export services by the National Customs Service; educational establishments and universities on educational activities, among others. Consulting, advisory and professional services in general are not subject to VAT.
The standard rate of VAT is 17%. There are three types of indirect taxes in China: value-added tax, consumption tax, and business tax. There are reduced rates of 13% and 0% which apply to, for example, basic necessities, agricultural products, utility services (13%), and exports of goods (0%). Exports of various goods are not wholly zero-rated and all the associated input tax is not refundable in full to the exporters. The VAT rate for small-scale VAT payers is 3%. Certain supplies of goods and services are exempt from VAT, for example, agricultural products self-produced for the purpose of sale, ancient and antiquated books, and imported equipment for scientific research and experiment. Business tax rates are: 3%, 5%, and a range of 5% to 20%. For example, services of transportation, construction, post and telecommunication, cultural activities, and sports (3%), services of finance and insurance, hotels, restaurants, catering, tourist, rental, leasing, advertising, the sale of intangible assets, transferring immovable property (5%), and entertainment (5% to 20%). There are 14 categories of goods that are subject to consumption tax, including tobacco, liquor, cosmetics, jewelers, firecrackers, refined oil, motor vehicle tires, motorcycles, motor vehicles, golf balls and clubs, luxury watches, yachts, disposable wooden chopsticks, and wooden floor panels. Normally, consumption tax is charged at an ad valorem (value) rate that ranges from 1% to 56%, while exports are zero-rated. Some goods such as refined oil are levied at quantum (unit/volume) basis. As for tobacco and some types of liquor, compound rate calculations, at both an ad valorem and quantum rate are applied.
The standard rate of VAT (impuesto sobre las ventas) is 16%. The reduced rate of 1.6% applies to certain cleaning and surveillance services, certain services rendered by the cooperatives and pre-cooperatives of associated work, and to services rendered by temporary services enterprises. The reduced rate of 10% applies to coffee, cereals, chocolate, prepaid health services, accommodation services in hotels, and commercial real property leasing, among others. The increased rate of 20% applies to mobile telephone services and certain motor vehicles and ships. The increased rates 25% and 35% apply to certain motor vehicles and motorcycles. Zero-rated supplies (referred to as exempt supplies in Colombia) include exports of goods, certain foods items, school notebooks, fuel alcohol destined to be mixed with gasoline, books and magazines of a scientific and cultural nature, and services that are rendered within the country and used exclusively abroad by enterprises or individuals without business or activities in Colombia (exports of services). Exempt supplies (referred to as non-taxable or excluded supplies in Colombia) include basic food items, passenger public transportation to some municipalities within Colombia, cargo transportation, certain financial transactions, public services of energy, water, sewer, public cleaning, garbage collection, and domestic gas, building rental service used for residential purposes, certain agricultural services; certain life, health, and education insurances and items; medicines, chemical and mineral fertilizers; crude oil for its refining; natural gas; butanes and natural gasoline; wood; newspapers; certain arms of war; and purchase of goods for human and animal consumption from specific neighboring states.
The standard rate of VAT (Porez na dodanu vrijednost; PDV) is 25% (since 1 March 2012). There are reduced rates of 10% and 0% which apply to, for example, tourist accommodations; full or half board services and tourist agents' commission with regards to those services; daily and periodic newspapers and magazines (10%). As of 1 March 2012 the reduced VAT rate of 10% will also apply to edible oils and fats, baby food, supply of water (except bottled or otherwise packaged drinking water) and refined (white) sugar and, as of 1 January 2013, to certain hospitality service. Exports of goods, bread, milk, certain books, certain medicines, medical implants, and orthopedic devices and scientific magazines are zero-rated. Certain supplies of goods and services are exempt from VAT, for example, financial and insurance services; health and welfare services; education services; deliveries by charitable organizations; deliveries by museums, libraries, theatres, orchestras and other cultural services; betting and gambling; rent of residential property, etc.
Dismantling of the Netherlands Antilles. Indirect rate increased from 5% to 6% on 1 Jan 2012
The standard rate of VAT (Foros prostithemenis axias; FPA) is 17% (as of 1 March 2012). There are reduced rates of 8%, 5% and 0%. For example 8% is applicable for certain passengers transportation services; hotel accommodation; restaurant and similar catering services including alcohol drinks, since 1 January 2011; 5% is applicable for bottled andnon-bottled water; books; newspapers, magazines and similar publications; gas; aid to disabled persons; animal feed; fertilizers and insecticides; waste treatment; since 1 January 2011 are also subject to 5% drugs and medicines; food items for human consumption. Export of goods remain to 0%. Supplies of certain goods and services are exempt from VAT, for example financial services; postal services; education and health care and welfare services; and cultural services by public bodies of non-profit organizations.
The standard rate of VAT (dan z pridané hodnoty; DPH) is 20%. There is a reduced rate of 14% which applies to, for example, food products, books, brochures, newspapers and magazines, public transport services, social residential housing construction, and transfer of residential houses unless exempt. Exports and intra-community supplies of goods, international transport of goods relating to exports or imports of goods are zero-rated. Certain supplies of goods and services are exempt from VAT, for example insurance and financial services; postal services; education; health and welfare services; transfer of land including financial leasing of land; transfer and financial leasing of immovable property in certain conditions; and renting of land and immovable property. As of 1 January 2013, the reduced rate will be abolished and be replaced by a single VAT rate of 17.5%.
The standard rate of VAT (merværdiafgift; MOMS) is 25%. There is a reduced rate of 0% which applies to, for example exports of goods, newspapers, sale and leasing of ships and sale and leasing of aircrafts used by airlines predominantly operating internationally. Supplies of certain goods and services are exempt from VAT, for example health and welfare services, education, certain sport and cultural activities, land, financial and insurance services, postal services by Post Denmark, passenger transport services (excluding transport of tourists by bus).
The standard rate of VAT (impuesto sobre transferencia de bienes industrializados y servicios; ITBIS) is 16%. Exports of goods and services are zero-rated. Exempt supplies include basic consumption items, educational materials, medicines, services of health, financial, utilities, non-conventional or renovable energy equipment and supply, and inland transport of persons and cargo.
The standard rates of VAT(impuesto al valor agregado - IVA) are 12% and 0%. The following items are charged with 0% of VAT: natural food suchas:milk, bread, butter, sugar, salt, noodles, etc; seeds; bulbs; plants; live roots; fertilizers; insecticides; pesticides; herbicides; veterinarian products; tractors with tires up to 200 HP and other agricultural implements; medicines and drugs for human use; bond paper and books; exports; electric energy; aircraft, light aircraft and helicopters for commercial passenger transport, freight and services. The following services are charged with 0% of VAT: Local transportation: by land, sea transport of passengers and cargo; international transportation of cargo;national transportation of cargo from and toGalapagos province; transportation of oil and natural gasby pipeline;services of medicines manufacturing; lease of housing; utilities; financial and investment services for entities legally authorized to provide them; exportation services; Inbound tour packages; crop-dusting; services provided by craftsmen; insurance and life and health reinsurance, healthcare and medical assistance.
The standard rate of general sales tax (GST) is 10%. There are other rates that vary from 0% to 45%. The reduced rates apply to, for example coffee; all products made of flour, soap, fertilizers, gypsum, and iron bars (5%); and exports of goods (0%). The increased rates apply to, for example national and international telecommunication services using mobile phones; motor vehicles of a cylinder capacity less than 1600 cc (15%); some colored televisions; refrigerators or deep freezes; sound recorders; air-conditioning units; cameras; perfumery; cosmetics or toilet preparations and products prepared for the care of hair and skin (25%); motor vehicles of a cylinder capacity of 1600 cc up to 2000 cc; motor vehicles for the transport of goods and persons; jeep motor vehicles; camping trailers (30%); motor vehicles of a capacity of more than 2000 cc; and vehicles for trips and camping (45%). GST is imposed on some commodities according to their collection unit (ton, liter, or value) for example tea; beet and cane sugar; soda water; petroleum products; medicaments; and water cement. Certain supplies of commodities are exempt from GST, for example dairy products; vegetable oils (subsidized); conserves; processed or prepared meat and fish items (with some exceptions); natural and butane gas; newsprint; paper; and macaroni made of ordinary flour.
The standard rate of VAT (käibemaks) is 20%. There are reduced rates of 9% and 0% which apply to, for example, books; certain printed periodicals; medicines; accommodations (9%); international and passenger transport; exports of goods; supply of aircraft and provision thereof used by air-carrier operating mostly on international routes; supply of sea-going vessels for navigation on high seas; services on board of such vessels or aircrafts; and goods placed in free zone, free warehouse, or VAT warehouse, (0%). Supplies of certain goods and services are exempt from VAT, for example immovable property, financial and insurance services, postal services, education, and health and welfare.
The standard rate of VAT is 13%. There are no applicable reduced rates. A zero rate is applicable on exports.
The standard rate of VAT (arvonlisävero (ALV)) is 23%. The reduced rate of 13% is applicable, for example to food and animal feed and restaurant and catering services. The reduced rate of 9% applies, for example to accommodations, books, pharmaceuticals, passenger transport, and cultural and sporting services. The rate of 0% applies to newspaper subscriptions and the sale and hire of certain vessels and exports of goods. On January 2012 newspaper and magazines sold by subscription became subject to 9% VAT rate.
The standard rate of VAT (taxe sur la valeur ajoutée (TVA)) is 19.6%. There are reduced rates of 7%, 5.5%, 2.1%, and 0% which apply to, for example food, water, passenger transportation, some pharmaceutical products, books, hotel accommodations (5.5%), newspapers, and medicines for human health when reimbursed by social security (2.1%), and exports of goods and intra-Community supplies (0%). The reduced rate of 7% was introduced in January 2012. The scope of the new reduced rate should include most of the goods/services currently covered by the 5.5% rate. However this rate remains applicable to some items. Certain supplies of goods and services are exempt from VAT, for example certain medical supplies, postal services, education, certain financial transactions, and insurance services. An increase of the standard VAT rate to 21.2% should become effective on 1 October 2012 (this measure could be overturned by the new president further to upcoming elections).
The standard rate of VAT is 18% which applies to all transactions except for:- exempted transactions with the right to offset input VAT (i.e. similar to zero rated transactions)- exempted transactions without the right to offset input VAT- transactions not carried out on the territory of Georgia.
The standard rate of VAT (Umsatzsteuer (USt)) is 19%. Reduced rates apply to certain items; 7% (e.g. food, plants, animals, books/newspapers, short term accommodation including certain connected services and short distance passenger transport) and 0% (e.g. cross-border air passenger transport, financial services to non-EU recipients, exports, and certain transactions involving ships and aircrafts). Special rates (5.5% and 10.7%) apply under the farmers' flat-rate scheme. VAT exempt transactions include financial services to EU recipients, insurance services, certain supplies of land, health, welfare, education, specific public postal services, and supplies within the Real Estate Acquisition Law.
There is no VAT in Gibraltar.
The standard rate of VAT (foros prostithemenis axias (FPA)) is 23%. There are reduced rates of 13%, 6.5%, and 0% which apply to, for example, passenger transport services, electricity, natural gas, and certain professional services such as those which are provided by medical and healthcare by private hospitals/clinics (13%), pharmaceuticals, newspapers, periodicals, books, theatre tickets and hotels (6.5%); export transactions, international transit of goods and transactions in relation to shipping (0%). VAT rates are further reduced by 30% if goods or services are supplied to or by taxpayers established in the Dodecanese Islands and other Aegean Islands (that is 16%, 9%, and 5%, respectively). Certain supplies of goods and services are exempt from VAT, for example used immovable property; medical (except from private hospitals/clinics), educational and cultural services; and insurance, financing, and most banking activities provided to EU residents.
The standard rate of VAT (Impuesto al Valor Agregado (IVA)) is 12%. Exports are zero-rated. Exempt supplies include certain imports, certain medicines, specified financial services, and specified supplies of real property.
Guernsey does not levy VAT or any similar indirect tax.
The standard rate of sales tax (impuesto sobre ventas (ISV)) is 12%. An increased rate of 15% applies to imports and national supplies of alcoholic beverages and tobacco products also the airplane tickets in first class and executive class are taxed with an 18% and the telecommunication services will be taxed with a 15% also in the excess consumption of 750 kw/h of electricity the tax establish is of a 12%. The goods and services exported abroad are subject to 0%. Exempt supplies include basic food items for human consumption; livestock and certain agricultural goods, and machinery; pharmaceutical products for humans and animals; books, magazines, newspapers, and school supplies; most financial services; educational services; the supply of water and electricity; professional and sports services; and terrestrial transportation of passengers.
There is no VAT or GST in Hong Kong.
The standard rate of VAT is 27% (since 1 January 2012) There are reduced rates of 18%, relating to hotels and basic food, such goods as milk, certain dairy products, bread and other bakery products, and 5% that relates mainly to products and services such as books and medicines and the supply of heating to households.
The standard rate of VAT (virdisaukaskattur (VSK)) is 25.5%. There are reduced rates of 7% and 0%. The 7% rate applies to, for example accommodations, books and periodicals, licenses to use radio and television broadcasting services, and certain food intended for human consumption. The 0% rate applies to, for example exports of goods and services; international transportation; fuel and equipment delivered for use in ships and aircraft engaged in international traffic; sales and rentals of ships and aircraft; and repairs and maintenance services rendered to ships and aircraft. Certain supplies of goods and services are exempt from VAT, for example real estate and parking space leases, health services, social services, educational and sport activities, passenger transport, postal services, financial services, and services of travel agencies.
The standard rate of VAT is currently 12.5%. India has a federal structure with both federal and state-specific indirect tax. Intra-state sale of goods is subject to VAT and sale of goods occasioning movement across states is subject to central sales tax (CST). In addition, there is another indirect tax on supply of services, service tax. Prior to introduction of State-specific VAT regime in April 2005, the average state sales tax rate was 16%. Until March 2010, around 14 to 17 states have increased the basic slab rates of 4% (up to 5%) and 12.5% (up to 15%). There are reduced rates of 4%, 1%, and 0% which apply to, for example IT products, intangible goods (such as patents and copyrights), capital goods, chemical fertilizers, cotton, drugs and medicines, iron and steel, industrial inputs, sports goods, tractors (4%); gold, silver, precious stones (for example diamonds), articles or ornaments made of the aforementioned (1%); and exports of goods (zero rated). There are increased rates of 20% and above, applicable to petroleum products (such as diesel, petrol, lubricants, and aviation turbine fuel), natural and other gases used as fuel, liquor and beer. Certain supplies of goods are exempt from VAT, for example books, periodicals and journals, electric energy, milk, fresh plants, flowers, vegetables and fruits, meat, fish, prawn, rice, and wheat. CST is charged at the rate of 2% or alternatively at the VAT rate applicable in the originating state. The standard rate of service tax with effect from 1 April 2012 will be 12.36% (currently, the same is 10.3%). Currently, more than 100 notified categories of services are subject to Service tax, for example advertising services, financial and insurance services, business auxiliary and support services, telecommunication, cargo handling, intellectual property services, maintenance and repair services, certain IT services, management consultation, scientific and technical consultancy, renting of immovable property service, information technology software services, supply of tangible goods for use service, works contract services, etc. Having stated as above, it may be noted that the Government, vide Union Budget 2012, has proposed to completely revamp the Service tax law through the introduction of negative list regime (from a date to be notified later). Broadly, in a ‘Negative List' regime, all service transactions except 17 specified services would be liable to Service tax.
The standard rate of a VAT (pajak pertambahan Nilai (PPN)) is 10%. There are two types of indirect tax in Indonesia: a VAT (pajak pertambahan Nilai (PPN)) and a sales tax on luxury goods (pajak penjualan atas barang mewah (PPnBM)). The rates of PPnBM range from 10% to a possible 200%. The reduced PPN and PPnBM rates of 0% apply to exports of goods. Certain supplies of goods and services are exempt from PPN, for example unprocessed minerals, agricultural products, basic necessities, banking and insurance services, finance leasing, hotel and restaurant activities, employment and manpower services, various social services, and the supply of electric power and potable water.
The standard rate of Irish VAT is 23% (since 1 January 2012). There are reduced rates of 13.5%, 4.8%, and 0% which apply to, for example immovable goods, building services, hotel and holiday accommodations, hotel and restaurant meals, newspapers and repair, and maintenance services (13.5%); supply of livestock, live greyhounds, and hire of horses (4.8%); exports of goods, most food and drink suitable for human consumption, oral medicines, medical equipment, and appliances (0%). There is also a special farmer's flat rate addition of 5.2% which applies to certain sales by unregistered farmers. A new temporary second reduced rate of VAT at 9% was introduced in July 2011 for a range of goods and services. Supplies of certain goods and services are exempt from VAT, for example certain lettings of immovable property, financial and insurance services, passenger transport, education, and health and welfare services.
The rate of VAT follows that of the United Kingdom.
The standard rate of VAT is 16%. The historical VAT rates are as follows:From 1 March 2004 to 1 September 2005 – 17%From 1 September 2005 to 1 July 2006 – 16.5%From 1 July 2006 to 1 July 2009 – 15.5%From 1 July 2009 to 1 January 2010 – 16.5%From 1 January 2010 to today –16%
The standard VAT rate is 21% (as at 17 September 2011). Reduced rates of 4% and 10% are applicable on some supplies.
The standard rate of VAT (general consumption tax) is 17.5%. The rate of 10% applies to certain tourism services and to the supply of electricity to the public with certain restrictions. The rate of 25% applies to the supply of telephone services and instruments.Commercial importers pay an advanced GCT payment of 5% on the importation of certain goods in addition to the standard GCT rate applicable on imports. Zero rated supplies include exports, certain agricultural equipment and material, certain health supplies and medications and goods purchased by or services rendered to government entities. Exempt supplies include certain medical supplies andequipment, books and educational supplies, energy-saving devices and miscellaneous services including construction, health, public utilities and financial services.
The standard rate of consumption tax is 5%. There is a reduced rate of 0%, which applies to, for example sales or leasing of goods as export transactions; sales or leasing of foreign cargoes; international transportation services; and services provided to non-residents (except for transport or storage of assets in Japan; provision of accommodations and food in Japan; and provision of services of a similar nature in Japan). Supplies of certain goods and services are exempt from consumption tax, for example sale and leasing of land; rental of housing; sales of securities, and similar instruments; medical treatment under public medical insurance laws; social welfare activities; school tuition; and examination services.
The standard rate of VAT is 5%. The rate increased from 3% to 5% on 1 June 2011.
The standard VAT rate is 12%. A 0% VAT rate applies to exports of goods and international transportation of passengers, baggage, and goods into or out of Kazakhstan. Certain supplies of goods and services are exempt from VAT, including leases or sales of residential buildings; leases or sales of land plots; financial and insurance services by companies licensed in Kazakhstan; contributions to the charter capital of legal entities; and medical and veterinary services; and sale of refined gold to National Bank.
The standard rate of VAT is 10%. Each business person is entitled to credit input taxes paid, except for those in connection with entertainment expenses, non-business related expenses, input VAT paid before the entity is registered under the VAT Law, etc., against output taxes collected. Certain taxable transactions are subject to a VAT zero-rate. The following categories of taxable transactions are zero-rated: (1) the export of goods and services, (2) services supplied outside of Korea, (3) the supply of international transportation services by vessel or aircraft, and (4) the supply of certain goods or services in Korea where the compensation is received in foreign, non-KRW currency. The supply of certain designated goods and services is non-taxable and therefore exempt from VAT. VAT is not collected by the supplier of these designated goods or services, so the supplier is in a position to charge his supplywithout VAT to the purchaser. In turn, the supplier is notable to deduct his input VAT associated with such goods and services. The input tax is thus borne by the supplier as if he were the ultimate consumer. The following supplies of goods or services are treated as VAT exempt: unprocessed basic foodstuffs, medical and health services, educational services, passenger transport services, books, newspapers and magazines, postage stamps, land and banking/insurance services etc.
There are currently no indirect taxes in Kuwait. There is a custom duty which is charged at 5% of the value of the imported goods.
The standard rate of VAT (pievienotas vertibas nodoklis (PVN)) is 22%. There are reduced rates of 12% and 0% which apply to, for example pharmaceuticals, passenger transport, and heating for inhabitants (12%); supply, import, repair and maintenance of certain ships and aircraft, passenger transport by air or sea, financial transactions outside the EU and exports (0%). Supplies of certain goods and services are exempt from VAT, for example land and used immovable property, financial and insurance services, education, and health and welfare services.
The standard rate of VAT (Mehrwertsteuer (MWST) / taxe sur la valeur ajoutée (TVA) / imposta sul valore aggiunto (IVA)) is 8% . There are reduced rates of 3.8%, 2.5%, and 0% which apply to, for example hotel accommodations (3.8%); water in conduits, medications, books, newspapers, food and non-alcoholic beverages (2.5%); and exports of goods (0%). Supplies of certain goods and services are exempt from VAT, for example official postal service, health and welfare, education, insurance, finance, and supply of certain immovable property.
The standard rate of VAT (pridetines vertes mokestis (PVM)) is 21%. The reduced rate of 9% is applicable for books and non-periodicals and until 31 December 2011 to accommodation services. Also the reduced rate of 9% is applicable until 31 December 2011 for heating energy supplied to dwellings. 5% reduced VAT rate is applicable to certain drugs and medicine (applicable until 31 December 2011).There is a compensational rate of 6% for supplies of goods and services under the farmer's flat-rate scheme. Zero-rate applies to exports of goods outside the EU; intra-community supplies and supply, modification; modernization; hiring of sea-going ships; and aircraft. Supplies of certain goods and services are exempt from VAT, such as health and welfare; educational, cultural, sports, postal, financial, and insurance services; land (except for building purposes); sale of real estate (older than 24 months); and leasing of real estate.
The standard rate of VAT (taxe sur la valeur ajoutée (TVA)) is 15%. There are reduced rates of 12%, 6%, 3%, applicable for example to certain wines, safekeeping and management of securities, management of credit by persons not granting it (12%); electricity and gas (6%); food (except drinks containing alcohol), animal feed, books (including ebooks from January 2012), newspapers and periodicals, passenger transport, hotel accommodations, certain sporting and cultural services, and certain pharmaceutical products (3%). Exports and intra-Community supplies of goods, supplies of goods and services used by airlines operating for reward chiefly on international routes, and services supplied for the needs of high-seagoing vessels and international passenger transport services are VAT exempt. Luxembourg also provides other exemptions for VAT, for example banking and financial services, management of investments funds, SICAR, some pension funds and securitization vehicles, insurance and reinsurance operations, supply and letting of immovable property, postal services, education, and certain medical supplies.
There is no value-added tax or goods and services tax in Macau.
The standard rate of VAT (danok na dodadena vrednost (DDV)) is 18%. The reduced rate of 5% applies to some supplies such as supply of food products, publications, seeds and planting materials, agricultural machines, pharmaceutical and medical devices, computers, thermal-sun systems, passenger transport, software and supply of apartments used for residential purposes if performed within five years from construction (the preferential rate is deemed to apply until 31 December 2011, after which these supplies would be taxable under the general rate of 18%). Supplies of certain goods and services are exempt from VAT, for example financial and insurance services, education, health, and supplies and rental of buildings and apartments used for residential purposes, except for their first sale if performed within five years from their construction.
VAT or GST has been proposed but the implementation has been postponed. In its place, Malaysia has sales tax and service tax.Sales tax is imposed on taxable goods manufactured locally/imported, unless exempted. The standard rate of sales tax is 10%. A reduced sales tax rate of 5% is applicable to certain items such as foodstuffs, alcoholic beverages, and tobacco products.Service tax is charged on specific types of services (taxable services) provided by taxable persons. Therate ofservice taxis 6% (effective 1 January 2011). Prior to that, the rate was 5%. In addition, certain taxable services provided within a group and servicesrelating to goods or matters outside Malaysiaare not subject to service tax.
The standard rate of VAT (taxxa fuq il-valur mizjud) is 18 per cent. There are reduced rates of 5 per cent and 0 per cent which apply to, for example, the supply of electricity, medical accessories, printed matter, and items for the exclusive use of the disabled (5 per cent); and exports of goods, international transport and ancillary services, supplies of certain qualifying vessels and aircraft, the chartering thereof and certain services provided thereto, food, and pharmaceutical goods (0 per cent). Furthermore, with effect from 2011, there is a specialreduced VAT rate for the letting or provision of hotel and private accommodation (including related services up to full board basis)of 7 per cent (formerly 5 per cent). Supplies of certain goods and services are exempt from VAT, for example immovable property (with some exceptions); insurance services; credit, banking, and other related services; cultural, sporting and religious services; postal services; education; and health and welfare.
The standard rate of VAT is 15%. There is a reduced rate of 0% which applies to, for example exports of goods other than exempt goods, sugar, sugar cane, wheat flour, books, booklets, brochures of specific customs headings, the supply of electricity, water, international transport of passengers and goods, certain pharmaceutical products and supplies of services to non-residents. Supplies of certain goods and services are exempt from VAT, for example rice, wheat, bread, butter, milk and cream, medical, hospital and dental services other than cosmetic surgery services, certain medical and dental equipment, educational and training services, postal services, cargo handling, and certain residential buildings.
The standard rate of VAT (porez na dodatu vrijednost; PDV) is 17%. There are reduced rates which apply to, for example basic foodstuffs, medicines not listed on the Health Fund list, textbooks and teaching aids, books and serial publications, daily and periodic press (with some exceptions), hotel and other accommodations, public transportation of passengers and their personal baggage (7%); and exports of goods, transport, and other services in relation to export, goods and services used in international air and maritime traffic, and medicines and medical devices listed on Health Insurance Fund list (0%). Supplies of certain goods and services are exempt from VAT, for example financial and banking services, insurance and reinsurance services, the supply of immovable property (except the first transfer), health and social security services, cultural, sport, and religious services.
The standard rate of VAT (imposto sobre o valor acrescentado (IVA)) is 17%. There is a reduced rate of 0% which applies to, for example, exports of goods, services linked to exports of goods, international passenger transportation, and some basic foodstuffs. Supplies of certain goods and services are exempt from VAT, for example medical and health services, goods and services linked to welfare and social security, education (with some exceptions), banking and financial transactions, insurance and reinsurance transactions, leasing of immovable property for residence or commercial and industry in rural zones, goods and services related to agricultural, forestry, livestock and fishing activities, and importation of certain goods approved for mining and industrial free-zone operations.
Namibia has two rates for VAT: 0% and 15%. For imports, VAT is charged at 16.5%, unless the service or goodsimported is considered an exempt or zero rated activity, if obtained froma Namibian supplier.
The standard rate of VAT (omzetbelasting (BTW)) is 19%. There are reduced rates of 6% and 0%. The reduced rate of 6% applies to, for example, the supply of foods, drinks (excluding alcoholic beverages), medicines, books, daily newspapers and magazines, passenger transport, some labor intensive services and sports events. The zero rate applies to for example exports of goods, intra-community supplies, services regarding goods not yet imported and supplies of sea-going vessels or aircrafts. Supplies of certain goods and services are exempt from VAT, for example immovable property (with some major exceptions), financial and insurance services, education, and health and welfare.
The standard rate of GST is 15%. The rate is reduced to 0% in certainsituations such as the export of goods and services, the supply of a business as a going concern, the supply of land on or after 1 April 2011, and the supply of financial services under the "business-to-business" regime. Supplies of certain goods and services are exempt from GST unless the supplies can be zero-rated. Exempt supplies include the supply of financial services, the supply by non-profit bodies of donated goods and services, the supply of residential accommodation, and the supply of fine metals. New Zealand also operates a GST reverse charge for imported services.
The standard rate of VAT (merverdiavgift (MVA)) is 25%. There are reduced rates of 15% (on 1 January 2012 the 14% reduced rate was increased to 15%), 8%, and 0% which apply to, for example food (14%); hotel accommodations, passenger transportation, communication of such services, the right to attend museums, cinemasetc. (8%); and exports of goods, supplies relating to ships and aircrafts, books, magazines, newspapers, and construction services relating to public roads (0%). Supplies of certain goods and services are exempt from VAT, for example financial services, real estate (with some major exceptions), education, health services, and social services.
Currently there is no VAT or GST in Oman.
The standard level of sales tax is 16%. Indirect taxes in Pakistan include sales tax and Federal excise duty (FED). The standard rate of sales tax is 16% on supply of taxable goods and specified services; however certain goods are subject to sales tax at higher rates of 19.5% and 22%. There is a reduced rate of 0%, which applies to, for example all exports of goods, local supplies of specified raw materials, and supplies of specified export sectors, import and local supplies of capital goods. Certain supplies of goods and services are exempt from sales tax, for example agricultural products, unprocessed food items, animals and their meat, fisheries, dairy products, construction materials, computer software, ships, navigation equipments, and the sale to hospitals and educational non-profit organizations. FED applies to the import and manufacturing of specified goods and provision of specified services at different rates. The rate of FED on specified services ranges from 10% to 19.5%. Special excise duty (SED) at uniform rate of 1% is applicable on import of goods and locally manufactured goods, except the goods specifically exempt from SED.
The standard rate of VAT (impuestos sobre la transferencia de bienes corporales muebles y la prestación de servicios (ITBMS)) is7%. A special increased rate of 10% applies to the import, wholesale, and retail of alcoholic beverages. A special increased rate of 10% applies to hotel accommodation services. A special increased rate of 15% applies to the import, wholesale, and retail of all kinds of cigarettes, cigars and other tobacco products. Zero-rate supplies include exports and re-exports of goods and the sales of pharmaceutical and food products when certain conditions are met (that is, the taxable person is engaged exclusively in such activities and its total output is sold within Panamanian territory). Exempt supplies include (among others) the sale of food; sales of oil fuel and similar products; newspapers; magazines, educative magnetic media, notebooks, pencils, and other items for school purposes; medicines and pharmaceutical products; and interest payments (other than commissions or fees) arising from financial services and financial leasing contracts defined by law.
The standard rate of goods and services tax (GST) is 10%. There is a reduced rate of 0% which applies to, for example exports of goods and services, medical supplies, supplies of goods and services to prescribed foreign aid providers, supplies of goods, and services to a non-profit body, supplies of goods and services to resource companies. Supplies of certain goods and services are exempt from GST, for example financial, medical, and educational services, public road transport, postage stamps, and the retail supply of newspapers.
The standard rate of VAT (impuesto al valor agregado (IVA)) is 10%. The 5% rate applies to transfers of real state, transfers of the right to use goods, certain basic food items (cesta básica), loans and financial interests, commissions and surcharges, and supplies of pharmaceutical products. Exports are zero-rated. Exempt supplies include certain diplomatic and investment imports; farm products in their natural state; foreign currencies; governmental or private securities including shares of stock; goods received through inheritance; transfer of credits; books, magazines, and others of scientific, educational, and general interest media; interest on public or private shares and securities; deposits in financial entities authorized by the Central Bank of Paraguay; services of cooperatives; home savings; and loans under the Sistema de Ahorro y Préstamo para la Vivienda.
The standard rate of VAT (impuesto general a las ventas(IGV)) is 16% (since 1 March 2011). The municipal promotion tax (impuesto de promoción municipal (IPM)) of 2% is also added to the value of goods or services used to determine the IGV, which results in a 18% sales tax overall.
The standard VAT rates are: 23%, 8%, 5% an 0%. The rates were increased on 1 January 2011. Some of the goods (mostly food products) formerly taxed with 7% VAT rate are now taxed with 5% VAT rate in order to minimize the impact of the increase of VAT rates on the poorest. The new increased rates are introduced for a period of three years, till the end of 2013. Certain supplies of goods and services are exempt from VAT, for example: financial services, healthcare or education services.
In mainland Portugal the standard rate of VAT is 23%. There are reduced rates of 13% and 6%. Meanwhile, Madeira has a standard VAT rate is 22% (as of 1 April 2012) with reduced rate of 12% (as of 1 April 2012) and 5% (as of 1 April 2012). Azores islands has a standard VAT rate of 16% (from 1 January 2011) with reduced rates of 4% and 9%).
No indirect tax regime exists in Qatar. However, Qatar does apply a customs duty rate of 5% on most imports to Qatar.
The standard rate of VAT is 24%. VAT reduced rates of 5 and 9% are applicable on some supplies.
The standard rate of VAT (nalog na dabavlennuyu stoimosty (NDS)) is 18%. There are reduced rates of 10% and 0% which apply to, for example for example food products, specific goods intended for children, books and periodicals, pharmaceutical and other medical products (10%); and exports of goods, transportation and related services, services related to transit of goods through Russia, international passenger transportation, and fuel for ships and aircraft (0%). Supplies of certain goods and services are exempt from VAT, for example lease of premises to foreign companies accredited in Russia, medical services and certain medical products, educational services, public transportation, the sale of securities, banking and insurance services, the rent of apartments, and the sale of apartments and residential property. There is a specific rate of 15.25% which is applicable to the sale of the whole enterprise (plant). There are also computed VAT rates (18/118 and 10/110) for specific cases when VAT is applicable to the VAT inclusive amount of revenue (e.g., receipt of advance payments and other payments connected with settlements for suppliers).
Dismantling of the Netherlands Antilles. Standard rate applicable to services reduced to 5% (1 October 2011)
The standard rate of VAT is 15%. This rate applies to ordinary businesses, trade and professionals, public authorities, non profit bodies, clubs, societies and associations. There is a reduced rate of 0% ("zero-rated") for exported goods and certain exported services, duty free goods, goods not in Samoa at the time of supply and educational services provided by approved institutions. Medical goods and services supplied by the hospital and water supply provided by the Samoa Water Authority are also zero-rated. Those supplies exempt from VAT are locally produced raw & unprocessed food, financial services, donated goods & services sold by non-profit bodies, bus & taxi fares, electricity and inter-island passenger fares in Samoa.
No changes from prior years.
The standard rate of VAT (porez na dodatu vrednost (PDV)) is 18%. There are reduced rates of 8% and 0% which apply to, for example basic foodstuffs, medicines, textbooks and daily newspapers, hotel services, public utility services, gas, and first transfer of ownership on residential buildings (8%); and exports of goods, transport and other services in relation to export, supply, repair, maintenance, charter and lease of aircraft and river vessels predominantly operating in international traffic, and international air and river transport of passengers under a reciprocity rule (0%). Supplies of certain goods and services are exempt from VAT, for example financial and banking services, insurance and reinsurance services, supplies and renting of land, transfer of shares and securities, transfer of immovable property (except first transfer), medical and welfare services, education and professional retraining, cultural, scientific, sport, and religious services.
The standard rate of GST is 7%. There is a reduced rate of 0% which generally applies to export of goods and international services. Supplies of certain financial services and sale or lease of residential properties are exempt from GST.
The standard rate of VAT(dan z pridanej hodnoty (DPH)) is 20%. There is a reduced rate of 10% which applies to medicaments; certain other medical and pharmaceutical products; contact and spectacle lenses; certain hygienic products; books and other printed products where advertisement does not exceed 50% of the content of the product. International passenger transportation, exports of goods, intra-community supply of goods, supply, rental, repair, and maintenance of sea craft and aircraft and some other supplies are VAT exempt with the entitlement for input VAT deduction. Supplies of certain goods and services are exempt from VAT with no entitlement for input VAT deduction, for example postal services; financial and insurance services; education and training; health and welfare; cultural services, supply and rental of immovable property (under certain conditions), etc.
The standard rate of VAT is 20%. VAT reduced rate of 8.5% is applicable on some supplies.
The standard rate of VAT is 18%. The reduced rates are 8% and 4%. Examples of reduced rates - 8%: Food and drink used for human or animal consumption (excluding tobacco and alcoholic beverages), animals, substances to be ordinarily used in agricultural activities, pharmaceutical products for animals, prescription glasses, contact lenses, aid implements, material and equipment for prevention, flowers, etc. On November 2010 the European Commission made an official request to Spain considering that according to the Directive the medical equipment, aids and any other appliances are not entitled to enjoy of a reduced VAT rate, unless they are for the exclusive and personal use of handicapped people. Reduced rate of 4%: Newspapers, magazines and books that do not contain mainly advertisements, ordinary bread, flour, milk, eggs, cheese, vegetables and fruit, medicines and pharmaceutical products (excluding products for hygiene purposes), etc.
The standard rate of VAT is 12% (effective 1 Jan 2011). The reduced rate of 0% remains unchanged. The luxury rate of 20% has been removed, thus the Sri Lankan VAT system consists only two rates of 0% and 12%.
Dismantling of the Netherlands Antilles
The standard rate of VAT is 15%. This rate applies for all services and commodities except for telecommunication services, which is at 20%.
The standard rate of VAT (mervärdesskatt (MOMS) is 25%. There are reduced rates of 12%, 6%, and 0% which apply to, for example , restaurant services (from 1st January 2012), food and hotel accommodations (12%); domestic passenger transportation including ski lifts, books and newspapers, certain sporting and cultural events (6%); and exports of goods, fuel to aircrafts, ships and aircrafts for commercial transport and services related to them and prescription pharmaceuticals (0%). Supplies of certain goods and services are exempt from VAT, for example health and welfare; education, financial, and insurance services; and the sale and letting of real property.
The standard rate of VAT (Mehrwertsteuer (MWST)/taxe sur la valeur ajoutée (TVA)/imposta sul valore aggiunto (IVA)) is 8% . There are reduced rates of 3.8%, 2.5%, and 0% which apply to, for example hotel accommodations (3.8%); water in conduits, medications, books, newspapers, food and non-alcoholic beverages (2.5%); and exports of goods (0%). Supplies of certain goods and services are exempt from VAT, for example official postal service, health and welfare, education, insurance, finance, and supply of certain immovable property.
Syria currently has no VAT.
The standard rate of value-added tax is 5%. Under the Taiwan value-added and non-value-added business tax act, there are two systems, one being a VAT system and the other being the gross business receipts tax (GBRT) system. There is a reduced rate of 0% which applies to, for example the export of goods; services rendered which relate to the export of goods; vessels and aircraft used for international transportation; and goods and repair services supplied to ships or aircraft used in international transactions or ocean-going fishing boats. Supplies of certain goods and services are exempt from VAT, for example the sale of land, supplies of medical services, medicine, education services, newspapers and magazines, insurance policies, financial derivative products, corporate bonds, currency call loans, and foreign exchange call loans. GBRT applies mainly to financial institutions in banking, insurance, trust and investment, securities, futures, and short-term commercial papers industries. The GBRT rate is generally 2% applicable in respect of revenues generated from core business. The GBRT rate for revenue generated from non-core business is 5%.
The standard rate of VAT is 18%. Some supplies may be zero-rated or completely exempt. Other indirect taxes include stamp duty (1% to 4%) and levies such as skills and development levy (6% of payroll cost per month) and city service levy (0.3% of turnover).
The standard rate of VAT is 18%. There are reduced rates of 12% and 6%. The 12% rate is mainly applicable to supply of services for example services rendered by hotels; services rendered by lawyers, notaries, legal and tax counsels, and other experts; catering and IT services. The 6% rate apply to supplies such as services carried out by doctors, nurses, masseurs, veterinarians, and analytical laboratories; the transport of persons and agricultural products; the import, production, and sale of fertilizers; supplies of livestock concentrate food; soy beans; fish meal; and products and articles for the pharmaceutical industry (6%). Supplies of certain goods and services are exempt from VAT, for example school education; imports; the production and sale of aircrafts for public transport; services rendered by maritime transport and ship agencies; aircraft transport services; leasing of vessels and aircrafts for international maritime and air transport; the production and sale of flower, bread, pasta (normal quality), olive oil, soy, and soy oil; and the production, refining, and conditioning of vegetable oil.
The standard rate of VAT (katma deger vergisi (KDV)) is 18%. There are reduced rates of 8% (e.g. on overnight services/accommodations performed in the hotels, motels, holiday villages, and similar accommodation facilities) and 1% (e.g. on basic food products and magazines).
The standard rate of VAT (podatok na dodanu vartist (PDV)) is 20%. A reduced VAT rate of 0% applies to, among other things, exports of goods and related services, servicing or processing of goods temporarily imported to Ukraine (including goods temporarily imported to Ukraine pursuant to international tolling arrangements), supplies for airplanes and ships used in international traffic, international transportation of passengers and their luggage, and servicing of airplanes engaged in international traffic. The Tax Code became effective 1 January 2011 and had a major impact on the VAT regime in Ukraine. In practice, most previously VAT-exempt supplies of goods and services retained the VAT-exempt status. These include, for example, supplies of certain financial services, insurance services, royalty and dividend payments, transactions withsecuritiesand corporate rights, subscriptions to and delivery of local newspapers, magazines and books, prescribed pharmaceuticals, certain transfers of immovable residential property and land, charitabledonations,local passenger transportation (except for taxis), education, and prescribed health and welfare. Supplies of grain and industrial crops (except for the first supply transactions by the agricultural producers) have also been exempted from the VAT. A sale of business as a going concern is no longer a VAT-exempt transaction. A special VAT regime is available for the designated agricultural producers.
There is no VAT or GST in the United Arab Emirates.
The standard rate of VAT is 20% (effective 4 January 2011). There are reduced rates of 5% and 0% which apply to, for example children's car seats, certain contraceptive products, domestic fuel and power, and renovations/conversions of residential properties (5%); and food and animal feed, books and newspapers, prescription drugs and medicines, children's clothes, passenger transport, and exports of goods (0%). Supplies of certain goods and services are exempt from VAT, for example financial and insurance services; education services supplied by eligible bodies; certain cultural services; betting, gaming, and lotteries; subscriptions; and health and welfare.
While the United States does not impose a national VAT, most states, and some local governments impose transactional based taxes commonly referred to as sales and use taxes. Forty-five states and the District of Columbia impose a state level tax on the sale or use of goods and some services. Local governments in 34 states are authorized to impose local sales taxes. There are about 7,600 jurisdictions across the country that have chosen to impose a local sales tax. The state and local tax sales tax rate in the United States may range from 5% to 11%. As an example, the combined state and local sales tax rate in Seattle, Washington is 9.5% and that is made of a 6.5% state sales tax, a 1.2% county sales tax, and a 1.8% special purpose district tax. Which goods and services are subject to tax, along with the applicable tax rates, vary according to the jurisdiction. All states and some localities with sales and use tax regimes possess broad powers to determine whether goods and services are fully taxable, taxable at a special rate, or are fully exempt.
The standard rate of VAT (impuesto al valor agregado (IVA)) is 22% (as from 1 July 2007). The reduced rate of 10% applies to specific consumer goods, lodging services, and medicines. Exports are zero-rated. Exempt supplies include certain agricultural goods and machinery, specified fuels, commissions, interests on specific financial transactions, and transport services.
The standard VAT rate is 12.5%. >BR> The rate applies to any entity with a turnover of at least VT $4 million that carries on a "taxable activity". There is reduced rate of 0% ("zero-rated") which applies to goods which are exported, those not situated in Vanuatu at the time of supply, those sold as going concerns to registered persons and those internationally transported. Services supplied outside Vanuatu, to approved educational institutions and aid donors are also zero-rated. The supplies exempt from VAT include financial services, education supplied by an approved educational institution, donated goods and services sold by non-profit organisations, residential rental accommodation, the sale of a property which has been used for as such for at least five years and the activity of any company registered under the International Companies Act No.32 of 1992.
The standard rate of VAT (impuesto al valor agregado (IVA)) is 12%. The increased rate of 19% (which results from adding 10% to the standard rate) applies to luxury goods. Certain goods and services (such as red meat, animal oil, or local plane tickets) have a temporary rate of 8%. Exports are zero-rated. Exempt supplies include basic food items, medicine, fertilizer, fuel, newspapers, books and magazines, education, intangible assets, loans, banks, and financial institutions operations except by leasing, insurance services, payroll, operations performed in specified duty free and tourist areas, national electricity, water, and natural gas.
The standard rate of VAT (gia tri gia tang (GTGT)) is 10%. There are reduced rates of 5% and 0% which apply to, for example, medical equipment and instruments, fresh foodstuffs, scientific and technical services, manufacturing equipment and machinery for agriculture (5%); and the exports of goods and services (0%). Please note that export services are subject to a VAT registration and permanent establishmentin Vietnam tests of the recipient and strict requirements. Supplies of certain goods and services are exempt from VAT, for example life insurance, financial services (other than fees for services), transfer of land use rights, health care services, computer software, printing, publishing and distribution of newspapers, magazines, and certain books.
The standard rate of VAT is 16%. There is a reduced rate of 0% which applies to export of goods, supplies to privileged persons, books, medical & building supplies, agricultural equipment & accessories etc. Exempt goods and services include water supply, educational services, transport services, financial services, conveyance of real propertyamong other products and services. With effect from 1 January 2011, VAT will apply on all non life insurance products. Previously, all insurance services were exempt from VAT. Hotel accommodation in Livingstone, which was zero rated in 2010 and prior will now be standard rated.