29 June 2016
HMRC is considering subjecting adult colouring books to VAT at the standard rate in the UK. Currently these types of colouring books for both children and adults have a zero rate of VAT, however HMRC are looking to reclassify these as ‘uncompleted’ books which would result in the 20% standard VAT rate being applied.
LATEST NEWS
South Africa scraps low value import VAT exemption
On 1 September 2024 the South African Revenue Service (SARS) will scrap its current import VAT exemption on low value goods. This import VAT exemption allows...
SEE MORE
LATEST NEWS
Peru mandates 18% VAT withholding by foreign digital...
From 1 October 2024, the Peruvian tax authority has confirmed that banks and credit card companies will be responsible for withholding VAT on payments for...
SEE MORE
LATEST NEWS
Ukraine proposes to lower import VAT exemption...
Ukraine is proposing a reduction to the VAT exemption on the import of low value goods into the country from €150 (approx. £127) to €45 (Approx...
SEE MORE