Here is where you can find the best analysis, insight and information on international VAT, categorised for your easy reading pleasure. It’s a veritable feast for the mind. In a hurry? Scroll down to find a selection of the latest headlines.
[Re: Theresa May’s rule change kicked foreign graduates like me out – now Boris is reversing the injustice] It’s not until now that I have agreed with anything that the current administration advocates. As the managing director of a business whose workforce is around 67 per cent non-UK nationals, which works to enable cross-border trade and relies on good working [...]
EU tax authorities could increase auditing of MOSS traders and distance sellers following a reporting from the European Court of Auditors (ECA). On 16 July 2019, the ECA published its report on the vulnerability of E-commerce to evasion of VAT and customs duties. According to the report, many challenges in collecting correct amounts of VAT and customs duties on e-commerce [...]
Romania proceeds with plans for a pilot of Standard Audit File for Tax (SAF-T) for large taxpayers in January 2020. The Romanian tax authorities often look to their Polish counterparts for guidance on introducing new tax legislation and reporting guidelines. Therefore, it’s no surprise to see them follow suit in announcing plans for the adoption of SAF-T. Poland is one [...]
Analysis of the EU Four VAT “Quick Fixes”, cross-border VAT changes, coming into force in January 2020. Few businesses in the food sector are as aware as they should be about the upcoming EU Four VAT ‘Quick Fixes’, writes Alex Smith. They are going to come into force in January 2020 and will have a significant impact on food [...]
At Budget 2018, the UK Government announced its intention to introduce a new tax on businesses producing or importing plastic packaging. Following this, HM Treasury (HMT) launched a consultation exercise concerning the new tax in February 2019. During the consultation period, the government engaged directly with over 200 organisations. This included manufacturers, retailers, environmental charities and other experts to discuss [...]
The UK Government is stepping up planning and preparations in the event of a no-deal Brexit, as a result of Boris Johnson becoming Prime Minister. As part of these preparations, HMRC automatically issued over 80,000 businesses with UK Economic Operator Registration and Identification (EORI) numbers. According to HMRC estimates, there are approximately 150,000 UK businesses with VAT numbers that trade [...]
Managing Director Lucy Franklin discusses the four-day week with Employee Benefits. “[The four-day week gives] people more space to step away from work and focus on their own personal wellbeing,” she says. “I would much prefer happier, healthier, more productive staff that we can retain, rather than those that feel unable to balance their work and life in a positive way. [...]
The UK, along with 16 other EU Members, will continue to charge the standard rate of VAT for e-books, audio books and online newspapers despite the fact that the EU finance minster agreed to harmonise the rates with its printed versions back in October 2018. So far out of the 28 Member States, only 10 have already enacted into their [...]
On 7 July 2019, we reported here, that the New Zealand Parliament finally enacted legislation removing the GST exemption to import VAT for low value goods (now recharacterised as “distantly taxable goods” or “DTGs). DTGs are generally defined as goods that: Individually have a value of NZ$1,000 or less; Are outside New Zealand at the time of supply; Are supplied [...]
Businesses need to prepare for the EU’s Four Quick Fixes, the latest attempt to refresh the VAT system for intra-EU movement of goods, effective from January 2020. Rob Janering, associate director at Accordance explains the impact on supplies when call-off stock arrangements and chain transactions take place. Read the full article on Accountancy Daily here
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