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WORLD WIDE GST VAT SALES TAX RATE

Goods and Services Tax - GST - By: - Mr. M. GOVINDARAJAN - Dated:- 21-9-2016 Last Replied Date:- 24-9-2016 - 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 .....

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er 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 countries, 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 co .....

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- 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%; Reduced-10% 11 Belgium VAT 01.01.1971 No Standard -21% Reduced -6%,12% 12 Bolivia VAT July 19 .....

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5% 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 01.07.1992 Euro15,600 Standard - 19%; Other - 5% or 9% 25 Czech Republic VAT 01.01.1993 CZK 1 million .....

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00 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 Guatemala 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%; Redu .....

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0 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 31.05.2001 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 St .....

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lion; Voluntary-MNT10 million 10% 68 Morocco VAT 01.01.1986 No Standard-20%; Reduced-7%,10% & 14% 69 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 PKR5mil .....

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es 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 01.04.1994 SGD 1 million 7% 92 Sint M .....

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