What are the VAT rates?

VAT rates for goods and services

% of VAT What the rate applies to
Standard rate 20% Most goods and services
Reduced rate 5% Some goods and services, eg children’s car seats and home energy
Zero rate 0% Zero-rated goods and services, eg most food and children’s clothes

What are the entities exempt from VAT?

Exempt transactions include, among others, certain residential sales or leases; educational services; employment; services rendered by regional or area headquarters established in the Philippines by multinational corporations that act as supervisory, communications and coordinating centers for their affiliates.

Who pays VAT in Uganda?

Persons who make supplies that are Vatable and whose turnover exceeds UGX 150 million are required to register for VAT with the URA. VAT-registered persons are required to: Charge VAT whenever they make supplies that are Vatable. File monthly returns before the 15th day of the month following the reporting month.

What was VAT in 2014?

VAT rate rises from 17.5% to 20%

Is VAT going up 2022?

Further announcements extended the time for which the 5% VAT rate would apply, with the rate increasing to 12.5% on 1 October 2021 for a limited period, before reverting back to 20% on 1 April 2022.

Is vehicle tax VAT exempt or zero rated?

Even though most travel is zero-rated for VAT, car parking tickets are standard-rated. If you’re unsure about the rate of VAT applied to certain goods or services, check HMRC’s website or ask your accountant.

What is VAT registered?

VAT registration is the process of listing your business with the government as active in production and sales. After a business registers for VAT, it’s able to reclaim any VAT paid on company purchases and becomes responsible for: Charging VAT on any goods or services sold (and charging the right amount!)

Who is the one statutorily liable for the payment of VAT?

The seller of goods/services is the one statutorily liable to pay vat.

Who needs to register for VAT?

It is compulsory for a business to register for VAT if the total value of taxable supplies made in any consecutive twelve month period exceeded or is likely to exceed R1 million.

What are the regulations for the export of VAT?

VAT Export Regulations – Regulations under section 74 (1) read with paragraph (d) of the definition of “exported” in section 1 (1) of the Value-Added Tax Act, 1991 2 May 2014 R.221 GG 37489 28 March 2014 Regulations prescribing services for the purpose of the definition of “electronic services” in section 1 of the Value-Added Tax Act, 1991

When were the VAT implementing regulations officially approved?

The VAT Implementing Regulations were officially approved on H1438/12/4. In order to ‎access the VAT Implementing Regulations, please follow the link​ .

What are the parts of the Value-Added Tax Consolidation Act 2010?

The Value-Added Tax Consolidation Act 2010 is divided into 14 Parts as follows: Part 1 contains the short title of the Act and definitions and interpretations used throughout the Act. It also contains the charging section for value-added tax. Part 2 contains the provisions relating to persons who are accountable for value-added tax.

What are the KSA VAT implementing regulations?

The VAT Implementing Regulations expand on the areas covered within the KSA VAT Law, ‎detailing rules for implementation and giving taxpayers sufficient information to complete ‎their VAT compliance requirements. The Implementing Regulations cover:‎