GST around the world

GST around the world

Under the dual-GST structure both the central and the state governments have the power to collect taxes.

India has the highest tax rate out of all the countries that have implemented GST.

Let's take a look at the GST structures around the world:

1. France

There are 4 rates of VAT in France: 2.1 per cent, 5.5 per cent, 10 per cent and 20 per cent since its first implementation in 1954

2. United Kingdom

Since 2011, UK's VAT is set at 20 per cent

3. Ukraine

There are two VAT slabs in Ukraine, which are 20 per cent for most goods and services and 7 per cent mostly for medicines

4. New Zealand

GST was introduced in New Zealand in 1986 at a rate of 10 per cent which was later increased to 15 per cent in 2010

5. Australia

Introduced in 2000, the rate has been set at 10 per cent

6. Vietnam

Three VAT rates of 0 per cent, 5 per cent and 10 per cent are applied to most goods and services in Vietnam unless stated otherwise

7. Singapore

Implemented at 3 per cent in 1994, GST was increased to 7 per cent in 2007

8. Malaysia

Introduced in 2015, Malaysia's GST is set at 6 per cent

9. Canada

GST is set at 5 per cent on supplies of goods or services and includes most products. In some provinces of Canada, a Harmonised Sales Tax of 15 per cent is also charged