Before engaging in certain international transactions, it is essential to know and anticipate the tax practices of your customers and suppliers.
Fortunately, Ernst & Young provides a Worldwide VAT Guide that can help you conduct taxable transactions in over 137 countries (import, export and domestic sales).
This guide summarizes the corporate tax rules and tax regimes for value-added tax and goods and services tax in most countries around the world!
Facilitate your international operations
The Ey VAT Guide is published every year, so this edition is up to date as of January 1, 2021. It provides a complete overview of the application of Value Added Tax in 137 countries.
The document deals in particular with the scope of application, the criteria for liability, the applicable rates, the time of liability for individuals or non-established companies as well as the reporting obligations.
The governments of the various countries are continually reforming their national tax legislation. For any operator, this guide is therefore an essential tool in a tax environment that is constantly changing, especially when it comes to entering new markets.
However, no one is supposed to ignore the law… The content is clear and concise and addresses chapter by chapter the VAT regimes in 137 countries from Albania to Zimbabwe.
New chapters in the 2021 edition include Côte d’Ivoire, Jamaica and Lesotho. In keeping with Brexit news, the UK chapter also discusses the UK-EU Trade and Cooperation Agreement, which went into effect on January 1, 2021, and the impact of Brexit on the VAT system in Great Britain and Northern Ireland.
At a glance, what are the basic features of the major indirect tax in this jurisdiction?
What is the scope, and who is taxable?
What are the rates, and how has the country defined the time of supply?
When can taxpayers recover VAT that they have paid on inputs?
What are the rules on filing, payment and penalties?
Transitional provisions for each country.
VAT and international transport of goods
Any international operation has key steps and many questions arise very quickly:
- If I have to register for VAT in the country, how do I do it?
- How can I recover VAT abroad?
- Is the reverse charge available in the country?
- How are duty free sales handled?
- Are there any specific VAT measures for e-commerce?
- If the country is a member of the European Union, are Quick fixes available and how?
This guide will allow you to anticipate certain decisions, even if it does not replace the support of experts. CERL can thus accompany you for all your international operations!
CERL your partner for all your international transport operations!
CERL, your international freight forwarder facilitates your daily logistic activities. We have designed specific services to assist you in all your import and export transport operations.
Our teams are regularly trained to master the latest customs and tax issues. From pick-up to final delivery of goods, our experts provide you with a professional solution and take care of your project from A to Z!