Nepal "Republic" reported that recently, the Nepali government amended the 1997 "Value-added Tax Regulations" to raise the value-added tax threshold for service trade enterprises。

　　According to the new regulation, the annual transaction threshold for VAT registration of service trade enterprises has been raised from Rs 2 million to Rs 3 million。The new rules also apply to companies that trade in goods and services at the same time。However, the VAT limit for goods selling enterprises and transportation enterprises remains unchanged, that is, VAT registration is required for annual transactions exceeding Rs 5 lakh。

　　In addition, the new regulations require traders to indicate the HS (Harmonization System) code when issuing VAT forms for imported goods, so as to better track the domestic transactions of imported goods and control cross-border smuggling。The HS code is administered by the World Customs Organization and is the only numerical value used to classify internationally traded products。

　　(Source: Economic and Commercial Section of the Embassy in Nepal)

　　Mexico's "Economist" recently reported that the Mexican State Tax Bureau (SAT) announced that it will revise the foreign trade rules to define the low-price customs declaration tax avoidance behavior in the process of importing clothing, electronic products, toys and other goods by e-commerce platforms and express delivery enterprises as smuggling and tax fraud crimes。Since 2023, Mexico's retail and apparel industries have accused e-commerce platforms and Courier companies of abusing "tax exemption rules for small goods imports" to evade taxes。

　　According to the National Garment Industry Chamber of Commerce, through the abuse policy, e-commerce platforms pay less than 38 billion pesos in value-added tax and customs duties every year。

　　(Source: Economic and Commercial Section of the Embassy of the United States of Mexico)

　　According to Thailand's China network reported that the Thai Cabinet recently passed a regular meeting of the bill, will be sold to the platform all goods to adopt a 7% value-added tax, the move will affect China's cross-border e-commerce sellers using overseas bonded warehouse delivery mode。

　　The Thai Cabinet reviewed and approved the decision to levy 7% value-added tax on cross-border e-commerce goods priced below 1,500 baht, which is the result of a collective complaint by Thai merchants and a measure by the Thai authorities to purify the level playing field of e-commerce platforms。

　　The new VAT regulations will have a significant impact on cross-border e-commerce sellers such as China, and foreign sellers who set up shop to sell goods on Thailand's two major e-commerce platforms must file with the tax bureau and apply for a VAT number。

　　According to the executive regulations, the Ministry of Finance will authorize the Customs Department to impose a 7% VAT on all imported goods (whether quoted below or above 1,500 baht) on a non-discriminatory basis, and then pay the VAT collected to the General Tax Department。

　　Finance Ministry officials explained that the move was not targeted in any hostile way, because Thai companies and merchants are required to pay VAT on goods sold, and levying VAT on imported goods would better level the playing field。

　　(Source: Economic and Commercial Office of the Embassy of the Kingdom of Thailand)

　　Recently, the Ministry of Commerce, together with relevant departments and the Government of the Hong Kong Special Administrative Region, jointly convened the Third Senior Officials' Meeting of the Joint Steering Committee of the Closer Economic Partnership Arrangement (CEPA), and substantively completed a new round of consultation on the revision of the Mainland and Hong Kong CEPA Trade in Services Agreement。The two sides agreed to step up technical preparations and carry out approval procedures, and sign and implement the agreement at an early date。

　　Since the implementation of CEPA, the Mainland and Hong Kong have fully liberalized trade in goods, basically liberalized trade in services, and established a systematic and diversified security system in investment。The new round of amendments to the Trade in Services Agreement under CEPA will further deepen the opening-up and cooperation of trade in services between the Mainland and Hong Kong, help Hong Kong's governance and prosperity, and help the country's high-level institutional opening-up。

　　(Source: Business micro News)

　　The European Commission has recently published guidance on the Universal Charger Directive, amending the Radio Equipment Directive (RED) to harmonize charging methods for various electronic devices。

　　The directive, which stipulates the use of USB-C as a unified charging outlet, is effective for most handheld devices from December 2024 and for laptops from April 2026。The move aims to provide more convenience for consumers and reduce e-waste。The directive requires manufacturers to provide the option to purchase devices without a charger and to display clear information on charging functions and compatibility。

　　The guidance document clarifies the scope, applicability and specific requirements of the Directive, and sets out compliance assessment procedures and labelling requirements。

　　(Credit: tbtguide)

　　According to the Bangkok Post, Thai Finance Minister Pongchai recently said that in order to encourage low-carbon economy and environmentally friendly investment, the government plans to introduce six tax incentives。

　　At present, the Ministry of Finance exempts carbon credits trading from corporate income tax and implements a low tax rate for cars with smaller engines。In the future, there will be tax breaks for the purchase and installation of solar energy, tax incentives for companies to calculate their carbon footprint, and in the long term, a "carbon tax" will be introduced to tax excess emissions。

　　(Source: Economic and Commercial Office of the Embassy of the Kingdom of Thailand)