November 2014

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VAT is not going away if you are Exporting or Doing Business Abroad ---- it is going UP and UP.
 
JAPAN is the 3rd largest economy in the world. They had already increased their VAT rate from 5 % to 8 % effective April 1, 2014 (which is actually a 60 % rate increase).
JAPAN has now announced another rate increase from 8 % to 10 % is planned for October 1, 2015 !!!   This will double their VAT from 5 % to 10 % within 18 months.
 
VAT is now the sales tax in more than 150 countries with different names and different rules.
Even smaller countries start a VAT as an income source for their country - for example THE BAHAMAS will start VAT with 7.5 % effective January 1, 2015.
The highest standard VAT rate we know of is 27 % - in Hungary !
 
File a VAT refund claim with INSATAX - we do it world wide for more than 20 years.
If you do not do it - you may pay VAT and IMPORT VAT and lose money.


 


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