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TMI BlogWORLD WIDE GST, VAT, SALES TAX RATEX X X X Extracts X X X X X X X X Extracts X X X X ..... WORLD WIDE GST, VAT, SALES TAX RATE - By: - Mr. M. GOVINDARAJAN - Goods and Services Tax - GST - Dated:- 21-9-2016 - - In India, we are entering into GST regime from the existing indirect tax regime which is a major change in the taxation area. The Constitution has been amended authorizing the Central Government and State Government to levy GST, IGST. The Hon ble President India has also notified the GST Council which began its functioning for the smooth adoption of GST which is expected with effect from 01.04.2017. The new tax rates are to be determined by the Council. EYGM Limited has brought a book entitled WORLDWISE GST, VAT, SALES TAX GUIDE, 2016 (as on 01.01.2016). This book describes the indirect tax systems in 115 countries including India. For each country the book gives At a glance, what are the basic features of the major indirect tax in this country? What is the scope and who is taxable? What are the rates and how has the country defines the time of supply? When can taxpayers recover VAT they have paid on inputs? What are the rules on filing, payment and penalties? In this article some information of indirect tax system of each 115 co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... untries, excluding India on the following- Nomenclature of Tax; The time of introduction of tax; Threshold limit for this tax; Rate of tax. The name of Tax is called mostly as VAT. Some countries adopted different names to this tax. More or less all countries are having 0% tax. Threshold registration is also fixed in Distance selling intra community acquisitions in some countries. The following table will give an overall view of rate structure in the world in respect of indirect taxation and threshold limit. Sl. No. Name of the Country Name of Tax Introduced on Threshold limit Rate 1 Albania VAT 27.04.1995 ALL 5 million 20% 2 Argentina VAT January 1977 Goods ARS 600000; Services ARS 400000 Standard - 21% Reduced-10.5 Others-27% 3 Armenia VAT 01.07.1993 AMD 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15000000 for calendar year 20% 4 Aruba Revenue Tax 01.01.2015 - RT rates 1.5% HT Rates 1% 5 Australia GST 01.07.2000 AUD 75000 AUD 150000 for non profit bodies 10% 6 Austria VAT 01.01.1973 EUR 30000 Standard 19%, 20% Reduced 10%, 13% 7 Azerbaijan VAT 01.01.1992 AZN 200000 for a period 12 consecutive months 18% 8 Bahamas VAT 01.01.2015 BSD 100000 7.5% 9 Barbados VAT 01.01.19974 BBD200000 Standard -17.5%; Reduced 7.5% 10 Belarus VAT 19.12.1991 No Standard 20%; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reduced-10% 11 Belgium VAT 01.01.1971 No Standard -21% Reduced -6%,12% 12 Bolivia VAT July 1986 No 13%-nominal rate; 14.99% - effective rate 13 BES Islands (Bonaire, Sint, Eustatius and Saba) GET General Expenditure Tax 01.01.2011 No Bonaire - Service-6%; Goods-8%; import -8%; others-25%,7%,0% Sint, Eustatius and Saba- Service 4; goods 6%; import -6%; others-5%,10%, 18%,22%,30% 14 Bostwana VAT 01.07.2002 BWP 1million 12% 15 Brazil Multiple taxes 16 Bulgaria VAT 01.04.1994 BGN50000 Standard 20% Reduced-9% 17 Canada ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... GST HST 01.01.1991 01.04.1997 CAD 30000 GST 5%; HST 9.95% to 15% 18 Chile VAT 31.12.1974 No 19% 19 China VAT 01.01.1994 Monthly turnover CNY 5000 to CNY 20000 Standard-17%; Reduced-3%, 13% 20 Colombia VAT 29.12.1983 USD43000 Standard-16%; Reduced-5% 21 Coasta Rica VAT 08.11.1982 No 13%; Reduced 5%, 10% 22 Croatia VAT 01.01.1998 HRK230000 Standard 25%; Reduced-13% and 5% 23 Curacao Turnover tax 01.03.1999 No Standard-6%; other-9% 7% 24 Cyprus VAT 0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1.07.1992 Euro15,600 Standard 19%; Other 5% or 9% 25 Czech Republic VAT 01.01.1993 CZK 1 million Standard 21%; Reduced 15%, 10% 26 Denmark VAT 03.07.1967 DBK50,000 25% 27 Dominican Public Tax on the transfer of industrialized Goods and Services May 1992 None 18%, 13% 28 Ecuador VAT 31.12.1981 None 12% 29 Egypt General Sales Tax (replacement by VAT under consideration) 03.05.1991 EGP54000 EGP150000 10%; other 1.2% to 45% 30 El Salvador VAT 01.07.1992 USD5714.29 13% 31 Estonia VAT 01.01.1991 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EUR16000 Standard-20%; Reduced- 9% 32 European Union 01.01.1993 33 Finland VAT 01.06.1994 EUR10000 Standard 24; reduced-10% 14% 34 France VAT 10.04.1954 None Standard 20%; Reduced-2.1%, 5.5%,10% 35 Georgia VAT 24.12.1993 GEL100000 Standard-18%;Reduced- 0.54% 36 Germany VAT 01.01.1968 None Standard 19%; Reduced-7% 37 Ghana VAT 18.03.1998 GHS200000 Standard 15% 38 Greece VAT 01.01.1987 None Standard 23%; Reduced-6%, 13% 39 Guatem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ala VAT 01.07.1992 No Standard-12%; Reduced -5% 40 Honduras VAT 01.01.1964 No Standard-15%;Other -18% 41 Hungary VAT 01.01.1998 No Standard-27%; Reduced-5%, 18% 42 Iceland VAT 01.01.1990 ISK1000000 Standrad-24%; Reduced-11% 43 Indonesia VAT 01.01.1984 IDR4.8 billion 10% 44 Ireland, Republic of VAT 01.11.1972 Services-EUR37500 Goods-EUR70000 Standard-23%; Reduced -9% and 13.5% 45 Isle of Man VAT 01.04.1973 GBP82000 Standard-20%; Reduced-5% 46 Israel VAT 01.07.197 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6 ILS100000 17% 47 Italy VAT 01.01.1973 No Standard-22%; Reduced-4%,5%,10% 48 Japan Consumption tax 01.04.1989 JPY10million 8% 49 Jersey, Channel Islands GST 06.05.2008 GBP300000 5% 50 Jordan GST June1994 Goods-JOD50000 Services-JOD30000 Standard-16%; Reduced-4% 51 Kazakhstan VAT 24.12.1991 USD235667 12% 52 Kenya VAT 01.09.1990 KES5 million 16% 53 Korea VAT 01.07.1977 No 10% 54 Kosovo VAT 31.05. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2001 EUR30000 Standard 18%; Reduced-8% 55 Latvia VAT 01.05.1995 EUR50000 Standard 21%; Reduced-12% 56 Lebanon VAT 01.02.2002 LBP150million in any four consecutive quarters 10% 57 Lithuania VAT 01.05.1994 EUR60000 Standard-21%; Reduced-5%,9% 58 Luxemburg VAT 05.08.1969 EUR112000 Standard-17%; Reduced-3%,8% or 14% 59 Macedonia VAT 01.04.2000 MKD1 million Standard-18%; Reduced-5% 60 Madagascar VAT 1962 MGA200000000 20% 61 Malaysia GST 01.04.2015 MYR500000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6% 62 Maldives GST TGST(Tourism GST) 02.10.2011 GST-MVR1000000 TGST-No GST-6% TGST-12% 63 Malta VAT 01.01.1999 No Standard-18%; Reduced-5% 7% 64 Mauritius VAT 07.09.1998 MUR 10million 15% 65 Mexico VAT 01.01.1980 No 16% 66 Moldova VAT 01.07.1998 MDL600000 Standard-20%; Reduced-8% 67 Mongolia VAT 01.07.1998 MNT 50 million; Voluntary-MNT10 million 10% 68 Morocco VAT 01.01.1986 No Standard-20%; Reduced-7%,10% 14% 69 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Myanmar Commercial tax 31.03.1990 MMK20000000 Goods 5% - 120%; Services-5% 70 Namibia VAT 27.11.2000 NAD500000 15% 71 Netherlands VAT 01.01.1969 No Standard-21%; Reduced-6% 72 New Zealand GST 01.10.1986 NZD60000 15% 73 Nicaragua VAT 06.05.2003 No 15% 74 Nigeria VAT 24.08.1993 No 5% 75 Norway VAT 01.01.1970 NOK50000 Standard-25%; Reduced-10% 15% 76 Pakistan Sales tax 01.11.1990 PKR5million or utility bills exceed PKR800000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Goods-17%; Services-16%, 15% 14%; Others-24%,19.5%18.5%, 18% 77 Panama VAT 22.12.1976 USD360000 Standard-7%; Other-10%, 15% 78 Papua New Guinea GST 01.01.2004 PGK250000 10% 79 Paraguay VAT 01.07.1992 No Standard-10%;Reduced-5% 80 Peru VAT 01.08.1991 No 18% 81 Philippines VAT 01.01.1988 PHP1919500 12% 82 Poland VAT 05.07.1993 PLN150000 Standard-23%; Reduced-5%,8% 83 Portugal VAT 01.01.1986 No Standard-23%; Intermediate-16% Reduced-6% 84 Pureto Rico ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sales and use tax Nov2006 No Standard rate-10.5%;Municipal rate-1%; special rate-4% 85 Romania VAT 01.07.1993 EUR65000 Standard-20%; Reduced-9%, 5% 86 Russia Federation VAT 06.12.1991 No Standard-18%; Reduced-10% 87 Rwanda VAT 01.01.2001 RWF12million 18% 88 Saint Lucia VAT 01.10.2012 XCD400000(w.e.f. 14.03.2016) Standard-15%;Reduced-9.5% 89 Serbia VAT 01.01.2005 RSD8million Standard-20%; Reduced-10% 90 Seychelles VAT 01.01.2013 SCR 2million 15% 91 Singapore GST ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 01.04.1994 SGD 1 million 7% 92 Sint Maarten Revenue Tax 01.01.1997 No 5% 93 Slovak Republic VAT 01.01.1993 EUR49790 Standard 20%; Reduced-10% 94 Slovenia VAT 01.07.1999 EUR50000 Standard-22%; Reduced-9.5% 95 South Africa VAT 30.09.1991 ZAR50000 14% 96 Spain VAT 01.01.1986 No Standard 21%; Reduced-4%,10% 97 Suriname Turnover tax 30.12.1997 No Service-8%;goods-10%;import-10%;others25% 98 Sweden VAT 01.01.1969 No Standard-25%; Reduced-6% 12% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 99 Switzerland VAT 01.01.1995 CHN100000 Standard-8%; Reduced-2.5% and 3.8% 100 Taiwan Business tax 13.06.1931 No VAT-5%; Gross business receipt tax-0.1% to 25% 101 Tanzania VAT 01.07.2015 TZS100 million 18% 102 Thailand VAT 01.01.1992 THB1800000 7% 103 Trinidad and Tobago VAT 01.01.1990 TTD500000 12.5% 104 Tunisia VAT 02.06.1988 TND100000 Standard-18%; Reduced-6% and 12% 105 Turkey VAT 02.11.1984 No Standard-18%; Reduced-1% and 8% 106 Uganda VAT 01.07.1996 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... UGX150million 18% 107 Ukraine VAT 01.01.1992 UAH1000000 Standard-20%; Reduced-7% 108 United Kingdom VAT 01.041973 GBP82000 Standard-20%; Reduced-5% 109 United States No uniformity among states 110 Uruguay VAT 29.12.1972 No Standard-22%; Reduced-10% 111 Venezuela VAT 01.10.1993 No Standard-12%; Other-maximum16.5% 112 Vietnam VAT 01.01.1999 No Standard 10%; Reduced-5% 113 Zambia VAT July 1995 ZMW80000 16% 114 Z ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imbabwe VAT 01.01.2004 USD60000 15% Source: Worldwide VAT, GST, Sales Tax Guide, 2016. - Reply By Ganeshan Kalyani as = nice compilation sir. thanks. Aruba country is having lowest tax rate of 1% and 1.5% as per table in the article. How this country would be meeting its expenditure with such lower tax rate. Any input sir. Dated: 22-9-2016 Reply By YAGAY AND SUN as = Dear Ganeshan, Aruba don't have two curses like India unfortunately have, namely:- Neighbour like Pakistan (due to this taxpayers' money goes in fighting against terrorism instead of on development work) Corruption (Our tax money is being enjoyed by some corrupt persons in our country) This is an irony and these are the main reasons why GST rate will be in the range of between 18% to 25%. However, for defending our country from enemies, we can bear this cost but certainly not for the corruption. T C ( T errorism and C orruption can be ended, by our Great Army and by our Countrymen, respectively). Jai Hind Long Live Our Country . YAGAY and SUN Dated: 24-9-2016 - Scholarly articles fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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