May 17, 2022
OECD released a new VAT Digital Toolkit for Asia-Pacific (APAC) nations. The toolkit is intended to support local tax authorities to better collect value-added tax on e-commerce activities.
APAC is home to the largest e-commerce market in the world. The toolkit is intended to support the region’s tax agencies to collect value-added tax not only on sales by online marketplaces and overseas retailers but on the sale of apps, streaming services, online games, and ride hailing services.
This Toolkit has been produced by the OECD in partnership with the World Bank Group. This partnership also includes editions for Latin America and the Caribbean and for Africa. The Asian Development Bank (ADB) has contributed considerably as regional partner for the APAC region.
Source: Tax News-OECD
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