Most European countries introduced GST back in the 1970s-80scompleted Value Added Tax* (VAT) reforms in 2016 to replace its conflicting Business Tax system. Doing away with business tax and other taxes and switching to VAT has contributed to bursting of the Chinese real estate bubble. Later the Shinzo Abe government delayed tax increase until April 2017. It now plans to increase GST rate to 15%GST in New Zealand was introduced in 1986 at a rate of 10%. The rates were changed twice – 12.5% in 1989 and 15% in 2010 in a move to mobilize higher revenue while removing distortions in the tax structureintroduced GST in 1994.

Source: Economic Times June 28, 2017 18:33 UTC