Speed Read: As expected, there were no tremendously significant indirect tax announcements in this year's Budget. The indirect tax measures announced in the Budget include: a number of EU-related measures (including a restriction of the VAT exemption for postal services, the introduction of a reverse charge for emission allowances, a change to the scope of the zero-rating provisions for aircraft, and a change to the Lennartz accounting mechanism); changes to thresholds and administrative measures (including changes to penalty provisions in respect of late payment of tax and late filing of returns); and changes to betting and gaming duties.
