We provide VAT services to GCC countries according to their local laws.
Value Added Tax (VAT) Service:
VAT will apply to the majority of transactions in goods and services. European countries have already adopted the VAT taxation, GCC countries has adopted this taxation system starting from 1st January 2018. Its implemented-on goods and services except for food items, healthcare, and education. End-users are mostly affected by the implementation of tax however businesses must make certain changes to their processes and procedures to comply with the legal requirements implemented by the government.
Requisites in VAT calculation and VAT Accounting system
- Make sure that the bill for purchasing goods must be incorporated. Also, confirm about the taxable stuff either tax has been appropriately charged means the input tax that should be given by the dealer and particulars specified in the invoices.
- Assign the price on the retailing value at the instance of transaction or provision of accounts together with reducing the amount of input tax in order to reach the sum that has to be paid.
- Compute the payment of tax and deposit to Government within due date.
- Study related to Financial Experiences
- To legitimize the paid tax, you need to sustain invoices, financial records, VAT returns, proper stock, VAT accounting and further significant proceedings at the moment of purchase.
- Supply the significant information that is appealed by the Government in filing the VAT return to the Government authorities within the specific time.
- VAT Calculation
- Filing VAT
- Convey reports on VAT Filing and Processing
Charts
Value-added tax (VAT) rates
| Country | Standard VAT rate (%) | |
|---|---|---|
| Albania | 20 | |
| Algeria | 19 | |
| Angola | 14 | |
| Argentina | 21 | |
| Armenia | 20 | |
| Australia | Goods and services tax: 10 | |
| Austria | 20 | |
| Azerbaijan | 18 | |
| Bahrain | 5 | |
| Barbados | 17.5 | |
| Belarus | 20 | |
| Belgium | 21 | |
| Bermuda | NA | |
| Bolivia | 13 | |
| Bosnia and Herzegovina | 17 | |
| Botswana | 14 | |
| Brazil | Federal VAT (IPI): normally around 10% to 15%; State sales and service tax (ICMS): normally around 18% to 20% (lower rates apply to inter-state transactions). | |
| Bulgaria | 20 | |
| Cabo Verde | 15 | |
| Cambodia | 10 | |
| Cameroon, Republic of | 19.25 | |
| Canada | Combined federal and provincial/territorial sales taxes range from 5% to 15%. | |
| Cayman Islands | NA | |
| Chad | 18 | |
| Chile | 19 | |
| China, People’s Republic of | 13, 9, or 6 depending on the types of goods and services | |
| Colombia | 19 | |
| Congo, Democratic Republic of the | 16 | |
| Congo, Republic of | 18.90 (18% VAT + 5% surtax) | |
| Costa Rica | 13 | |
| Croatia | 25 | |
| Cyprus | 19 | |
| Czech Republic | 21 | |
| Denmark | 25 | |
| Dominican Republic | 18 | |
| Ecuador | 12 | |
| Egypt | 14 | |
| El Salvador | 13 | |
| Equatorial Guinea | 15 | |
| Estonia | 20 | |
| Eswatini | 15 | |
| Fiji | 9 | |
| Finland | 24 | |
| France | Turnover tax: 20 | |
| Gabon | 18 | |
| Georgia | 18 | |
| Germany | 19 (the standard rate was reduced to 16% for the period 1 July 2020 until 31 December 2020 in response to the COVID-19 pandemic) | |
| Ghana | Standard rate scheme: 12.5. Flat rate scheme: 3 Additional levies are charged on taxable supplies. Under the standard rate scheme these are NHIL: 2.5, GETFL: 2.5 and CHRL:1. Under the flat rate scheme this is the CHRL: 1 | |
| Gibraltar | NA | |
| Greece | 24 | |
| Greenland | NA | |
| Guatemala | 12 | |
| Guernsey, Channel Islands | NA | |
| Guyana | 14 | |
| Honduras | Sales tax: 15 | |
| Hong Kong SAR | NA | |
| Hungary | 27 | |
| Iceland | 24 | |
| India | The rate of GST varies from 5% to 28% depending upon the category of goods and services, the general rate of tax being 18%. | |
| Indonesia | 10 | |
| Iraq | Sales tax: Varies by good/service (see Iraq’s corporate tax summary). | |
| Ireland | 23 | |
| Isle of Man | 20 | |
| Israel | 17 | |
| Italy | 22 | |
| Ivory Coast (Côte d’Ivoire) | 18 | |
| Jamaica | General consumption tax(GCT): 15 | |
| Japan | Consumption tax: 8 | |
| Jersey, Channel Islands | Goods and Services Tax(GST): 5 | |
| Jordan | Sales tax: 16 | |
| Kazakhstan | 12 | |
| Kenya | 16 | |
| Korea, Republic of | 10 | |
| Kosovo | 18 | |
| Kuwait | NA | |
| Kyrgyzstan | 12 | |
| Lao PDR | 10 | |
| Latvia | 21 | |
| Lebanon | 11 | |
| Libya | NA | |
| Liechtenstein | 7.7 | |
| Lithuania | 21 | |
| Luxembourg | 17 | |
| Macau SAR | NA | |
| Madagascar | 20 | |
| Malawi | 16.5 | |
| Malaysia | Sales tax: 10; Service tax: 6 | |
| Maldives, Republic of | Goods and services tax(GST): 6 | |
| Malta | 18 | |
| Mauritania | 16 | |
| Mauritius | 15 | |
| Mexico | 16 | |
| Moldova | 20 | |
| Mongolia | 10 | |
| Montenegro | 21 | |
| Morocco | 20 | |
| Mozambique | 17 | |
| Myanmar | There is no VAT in Myanmar. The indirect tax in Myanmar is commercial tax, with the general rate of 5%. | |
| Namibia, Republic of | 15 | |
| Netherlands | 21 | |
| New Zealand | Goods and services tax (GST): 15 | |
| Nicaragua | 15 | |
| Nigeria | 7.5 | |
| North Macedonia | 18 | |
| Norway | 25 | |
| Oman | 5 (subject to specific exemptions and zero ratings prescribed under the Oman VAT Law) | |
| Pakistan | For goods:17 For services: ranges from 13% to 16% depending on the province. | |
| Palestinian territories | 16 | |
| Panama | Movable goods and services transfer tax: 7 | |
| Papua New Guinea | Goods and services tax: 10 | |
| Paraguay | 10 (5% for sale and rent of immovable, some medicines, and agricultural, horticultural, and fruit products) | |
| Peru | 18 | |
| Philippines | 12 | |
| Poland | 23 | |
| Portugal | 23 | |
| Puerto Rico | Sales and use tax: 11.5% for tangible personal property and certain services; 4% for business-to-business services and designated services. | |
| Qatar | NA | |
| Romania | 19 | |
| Russian Federation | 20 | |
| Rwanda | 18 | |
| Saint Lucia | 12.5 | |
| Saudi Arabia | 15 (5% prior to 1 July 2020) | |
| Senegal | 18 | |
| Serbia | 20 | |
| Singapore | Goods and services tax: 7 | |
| Slovak Republic | 20 | |
| Slovenia | 22 | |
| South Africa | 15 | |
| Spain | 21 | |
| Sri Lanka | 8 | |
| Sweden | 25 | |
| Switzerland | 7.7 | |
| Taiwan | 5% to general industries | |
| Tajikistan | 18 | |
| Tanzania | Tanzania Mainland: 18; Tanzania Zanzibar: 15 | |
| Thailand | 7 | |
| Timor-Leste | Sales tax on imported goods: 2.5; Sales tax on other goods: 0 | |
| Trinidad and Tobago | 12.5 | |
| Tunisia | 19 | |
| Turkey | 18 | |
| Turkmenistan | 15 | |
| Uganda | 18 | |
| Ukraine | 20 | |
| United Arab Emirates | 5 | |
| United Kingdom | 20 | |
| United States | NA | |
| Uruguay | 22 (reduced 10% VAT rate – applicable to certain goods and services). | |
| Uzbekistan, Republic of | 15 | |
| Venezuela | 16 | |
| Vietnam | 10 | |
| Zambia | 16 | |
| Zimbabwe | 14.5 |
