The Mongolian Government has submitted a comprehensive VAT reform package to Parliament, introducing major changes such as full deductibility of reverse‑charged VAT on foreign services, immediate deduction of capital expenditure VAT, a simplified regime for businesses below MNT 400 million, and a one‑to‑two‑month deferral of monthly VAT payments. The standard VAT rate remains 10%.
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Basware · 1 day ago
Singapore’s GST InvoiceNow e‑invoicing mandate, effective November 2025, requires all GST‑registered businesses to transmit invoices through the national InvoiceNow network using structured XML standards such as SG Peppol BIS or PINT‑SG and to report invoice data to IRAS. The article outlines buyer and supplier responsibilities, handling of exceptions (PDF, cross‑border, inter‑company) and stresses the need for robust process controls and compliance confidence.
Shared Services Link · 7 days ago
Singapore has extended its e‑invoicing mandate to all new voluntary GST registrants from 1 April 2026, requiring them to use InvoiceNow and send structured invoice data via the Peppol network. Existing GST‑registered businesses are exempt for now, with a broader rollout planned through 2031. The move is part of the city‑state’s digital tax agenda to improve compliance and streamline processes.
VatCalc · 9 days ago
Vietnam's Ministry of Finance has issued a draft decree to streamline e-invoicing for e-commerce and low-value transactions, shifting invoice issuance to platform operators and allowing small businesses below thresholds to issue consolidated daily invoices. The Finance Ministry also proposed extending e-invoicing to businesses with sales above VND 1 billion on 10 December 2025, and Circular 32/2025 provides detailed guidelines on numbering, use cases, and service provider standards. A June 2024 directive urges the remaining non‑compliant businesses, especially retail outlets, to adopt e‑invoicing, following the successful Phase 2 rollout in 2022 that registered 92 % of obligated taxpayers.
Rappler · 10 days ago
The Philippine Tax Whiz outlines the VAT exemptions available to natural gas stakeholders under Revenue Regulation No. 2‑2026. The guide explains that indigenous natural gas purchases and sales, as well as electricity generation using indigenous gas, are fully VAT‑exempt, and details the documentary requirements and eligible parties. It also highlights the need to indicate the exemption in the Quarterly VAT Declaration.
AnewZ · 12 days ago
Uzbekistan has launched a VAT refund system for foreign tourists effective 1 April 2026, allowing visitors to reclaim 85 % of VAT on purchases of at least 300,000 soums. The scheme will initially operate at all international airports and is planned to extend to railway stations and border checkpoints. The move accompanies a broader privatisation drive aimed at reducing state ownership to 15 %.
Manila Times · 15 days ago
Philippine lawmakers have introduced House Bill No. 8827 to cap the value‑added tax on petroleum products during a national energy emergency. The bill would limit the VAT base to the Pre‑Emergency Reference Price, excluding any incremental emergency increase, and amend Sections 106(A) and 107(A) of the National Internal Revenue Code.
The amendments clarify that reverse‑charged VAT on services received from non‑residents is fully deductible for Mongolian VAT‑registered companies.
Input VAT on capital assets will now be fully and immediately deductible, replacing the current 5‑10 year spread deduction.
Businesses with turnover below MNT 400 million can apply a deemed purchase mechanism, treating 90% of quarterly sales as deemed purchases, simplifying input VAT calculations.
Compliant taxpayers may defer monthly VAT payments, including import VAT, by one to two months.
This summary was published on VATfaqs.com on 11 February 2026. It relates to VAT developments in Mongolia. The original source is VatCalc.
