ONESOURCE Indirect Tax Q Sales Tax & VAT Rate Report

Transcription

1 Tax Data Updates ONESOURCE Indirect Tax Q Sales Tax & VAT Rate Report 2016 Thomson Reuters. All rights reserved. For more assistance, use our online resources or contact Customer Support by opening a support request through the Software Support Network at or call us at onesource.indirecttax@thomsonreuters.com 1

2 US Standard Sales Tax Rate Changes 2015 State Rate Changes County Rate Changes City Rate Changes District Rate Changes Taxing States Taxing Counties Taxing Cities District Taxes Total US Special Sales Tax Rate Changes 2015 State Rate Changes County Rate Changes City Rate Changes District Rate Changes Taxing States Taxing Counties Taxing Cities District Taxes Total Note: special rates include non-standard rates (e.g. rental, auto, and food) Summary of U.S. Sales Tax Rates 2015 Year State Avg. Rate County Avg. Rate City Avg. Rate Combined Avg. Rate % 1.26% 1.772% 8.571% 2

3 2015 US Regular Sales Tax Rate Changes Months State County City District Subtotals Total Jan Feb Mar Q Apr May Jun Q Jul Aug Sep Q Oct Nov Dec Q Total Changes 2015 US Special Sales Tax Rate Changes Months State County City District Subtotals Total Jan Feb Mar Q Apr May Jun Q Jul Aug Sep Q Oct Nov Dec Q Total Changes Note: special rates include non-standard rates (e.g. rental, auto, and food) 3

4 Q US SALES TAX HIGHLIGHTS State Level Standard Rate Changes in Q4 2015: No states changed their sales/use tax rates this quarter. State Level Rate (state designated portion of the sales tax rate): Puerto Rico had the highest state-level sales tax rate at 10.5%. Indiana, Mississippi, Jersey, Rhode Island, and Tennessee tied for the next highest state sales tax rate at 7.0%. After those states, the next highest state sales tax rates were Minnesota at 6.875% and Nevada at 6.85%. The average state sales tax rate was 5.539% in Q County Level Rate (county designated portion of the sales tax rate): The highest county sales tax rate was Wrangell, AK at 7.0%. The next highest rate was Petersburg, AK at 6.0%. The third highest county rates were 5.0% in the following authorities: o Juneau, AK o Sitka, AK o Yakutat, AK o Chambers, AL (in unincorporated areas outside of police jurisdictions within the county) o Tuscaloosa, AL (in unincorporated areas outside of police jurisdictions within the county) o Hinsdale, CO o San Juan, CO o Iberville Parish, LA o Orleans Parish, LA o St. Bernard Parish, LA o St. Charles Parish, LA The average county sales tax rate was 1.26% in Q City Level Rate (city designated portion of the sales tax rate): The highest city sales tax rates were 7.0% in Kodiak, AK and Winter Park, CO. The second highest city rates were 6.5% in Hoonah, AK and Selawik, AK. The following cities were tied for the third highest city sales tax at 6.0%: o Anderson, AK o Bethel, AK o Buckland, AK o Cordova, AK o Dillingham, AK o Hydaburg, AK o King Cove, AK o Kotzebue, AK o Scammon Bay, AK o Thorne Bay, AK o Tuba City, AZ (Navajo Nation) The average city sales tax rate was 1.772% in Q

5 Combined State/County/City Rate: The jurisdictions with the highest combined sales tax rates were as follows: o 12.9% Tuba City, AZ (Navajo Nation) o 12.5% Arab, AL (Cullman County) o 12.5% Piedmont, AL (Cherokee County) o 11.9% Coconino County, AZ (Navajo Nation) o 11.75% McKinley County, NM (Navajo Nation) o 11.7% Pinal County, AZ (Tohono O odham Nation) o % Mansfield, AR (Scott County) o % Cibola County, NM (Navajo Nation) o % San Juan County, NM (Navajo Nation) The average combined rate was 8.571% in Q

6 North America Standard Sales Tax Rate Changes 2015 US Rate Changes Canada Rate Changes Mexico Rate Changes US Rates Canada Rates Mexico Rates Total North America Special Sales Tax Rate Changes 2015 US Rate Changes Canada Rate Changes Mexico Rate Changes US Rates Canada Rates Mexico Rates Total Note: special rates include non-standard rates (e.g. rental, auto, and food) 6

7 2015 North America Regular Sales Tax Rate Changes Months US Canada Mexico Subtotals Total Jan Feb Mar Q Apr May Jun Q Jul Aug Sep Q Oct Nov Dec Q Total Changes 2015 North America Special Sales Tax Rate Changes Months US Canada Mexico Subtotals Total Jan Feb Mar Q Apr May Jun Q Jul Aug Sep Q Oct Nov Dec Q Total Changes Note: special rates include non-standard rates (e.g. rental, auto, and food) 7

8 LATAM Standard Rate Changes 2015 Country Rate Changes Country Rates State Rate Changes State Rates Total LATAM Special Rate Changes 2015 Country Rate Changes Country Rates State Rate Changes State Rates Total

9 2015 LATAM Regular Tax Rate Changes Months Country State Jan Feb Mar Q Apr May Jun Q Jul Aug Sep Q Oct Nov Dec Q Total Total 2015 LATAM Special Tax Rate Changes Months Country State Jan Feb Mar Q Apr May Jun Q Jul Aug Sep Q Oct Nov Dec Q Total Total 9

10 EMEA Standard Rate Changes 2015 Country Rate Changes Country Rates State Rate Changes State Rates Total EMEA Special Rate Changes 2015 Country Rate Changes Country Rates State Rate Changes State Rates Total

11 2015 EMEA Regular Tax Rate Changes Months Country State Jan Feb Mar Q Apr May Jun Q Jul Aug Sep Q Oct Nov Dec Q Total Total 2015 EMEA Special Tax Rate Changes Months Country State Jan Feb Mar Q Apr May Jun Q Jul Aug Sep Q Oct Nov Dec Q Total Total 11

12 APAC Standard Rate Changes 2015 Country Rate Changes Country Rates State Rate Changes State Rates Total APAC Special Rate Changes 2015 Country Rate Changes Country Rates State Rate Changes State Rates Total

13 2015 APAC Regular Tax Rate Changes Months Country State Jan Feb Mar Q Apr May Jun Q Jul Aug Sep Q Oct Nov Dec Q Total Total 2015 APAC Special Tax Rate Changes Months Country State Jan Feb Mar Q Apr May Jun Q Jul Aug Sep Q Oct Nov Dec Q Total Total 13

14 Q VAT Highlights COUNTRY LEVEL RATE CHANGES IN Q India The Finance Act, 2015, in section 119, allowed for the creation of a new cess on taxable services known as Swachh Bharat Cess. Swachh Bharat became effective 15 November 2015 and is 0.5% on services. Pakistan In Q4 2015, multiple changes were made regarding various different types of liquid fuel in Pakistan. These included S.R.O. 962(I) /2015 effective 1 October 2015, S.R.O. 963(I)/2015 effective 1 October 2015, S.R.O. 1070/2015 effective 1 November 2015 and S.R.O. 1180(I)/2015 effective 1 December STATE LEVEL RATE CHANGES IN Q Greece - Islands Following a joint ministerial decree by the Ministries of Interior and Administrative and Financial Reconstruction, the 30% VAT rate discount enjoyed by some islands was repealed on the islands of Rhodes, Santorini, Mykonos, Naxos, Paros and Skiathos. India Dadra and Nagar Haveli Dadra and Nagar Haveli Value Added Tax (Amendment) Regulation, 2015 (No. 1 of 2015.) was gazetted on 13 October 2015 and raised the 4% rate to 5%. India - Maharashtra The super reduced rate in Maharashtra was increased from 1% to 1.2% as per Notification No. VAT.1515 / C.R. 128A/Taxation 1, dated 30th September