31 August 2016
This month the Indian government approved a bill to implement a new Goods and Services Tax (GST). GST is a broad-based tax that is applied on most goods or services consumed in a country and India will use this to replace a number of indirect taxes already in place including VAT and Service Tax.
It is hoped that by introducing this new tax it will boost the Indian economy and significantly reduce the administrative burden that the current vast range of taxes puts upon Indian businesses. This change will likely be implemented in either 2017 or 2018.
LATEST NEWS
Several member states are proposing the introduction...
Several EU countries, including Belgium, France, the Netherlands, and Romania, are proposing the introduction of a national handling fee on low‑value...
SEE MORE
LATEST NEWS
Reminder: Bulgaria joined the Eurozone on 1 January...
From 1 January 2026, Bulgaria has adopted the euro as its official currency. The country has been preparing for this transition since joining the European...
SEE MORE
LATEST NEWS
EU to remove the customs duty exemption for “low...
Currently, imports valued at €150 or below can be imported duty free into the EU. However, the European Union has reached an agreement to abolish this...
SEE MORE