Venezuela has reduced its value added tax (VAT) rate for the second time this year. In March the rate was cut to 11% from 14% and on July 1, it fell again by two percentage points, to 9%, making it the lowest in Latin America
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Pillar two might be top of mind for many multinational companies, but the huge variations between countries’ readiness means getting ahead of the game now, argues Russell Gammon, chief solutions officer at Tax Systems.