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.
On 7th June 2019, the Polish Ministry of Finance submitted its updated draft bill to enact certain VAT changes to the Polish Parliament. Key within this changes was the request to delay the launch date of its extended SAF-T system, which will be a replacement for the VAT return (SAF-T stands for Standard Audit File for Tax scheme). Under the [...]
Changes have been made to Norway’s VAT legislation providing that as of 1st July 2019, electronic books, magazines and journals magazines are subject to VAT at the zero rate. Before this date, these supplies were subject to VAT at the 25% standard rate albeit that their printed versions were already enjoying the zero VAT rate. This amendment was part of [...]
The Croatian government has made the following clarifications and amendments to its VAT legislation in order to harmonise with current EU law: VAT exemption for sales of exports by a Croatian supplier to an EU-based buyer when the goods are dispatched directly from the Croatian supplier to a third country final buyer. The Croatian Tax Administration has clarified that [...]
The Norwegian tax office recently announced that the deadline for non-resident companies to submit VAT recovery claims in Norway for VAT incurred in 2018 has been postponed to 30th September 2019. Generally, Norway allows foreign businesses that buy goods and services for business purposes in Norway to reclaim the VAT they paid on those supplies. They can do this by [...]
Tax consultancy Accordance VAT is piloting a compressed four-day working week for its 140 staff in Brighton in order to improve employee wellbeing and work-life balance. The six-week pilot started on 1 July 2019 and will run until 9 August, followed by a second trial phase from 12 August 2019. Employee volunteers will work 7.45 hours per day, including a 45-minute lunch break, [...]
Spain has introduced important amendments to the technical specifications of the Spanish Immediate Supply of Information System (known as the SII) which will have effect from 1st October 2019. The SII, which launched on 1st July 2017, requires taxpayers to electronically report their invoice data in XML file format in near real-time through the Spanish tax authorities’ e-platform. It generally affects [...]
Greece has extended the application of discounted VAT rates to five Aegean islands until the end of the year. This favourable tax regime was previously due to expire on 30th June 2019. Currently, the islands of Lesbos, Chios, Samos, Kos and Leros benefit from a 30% discount to the normal Greek rates of VAT. Therefore, VAT is applied at a [...]
The New Zealand Parliament has finally enacted legislation removing the GST exemption to import VAT for low value goods. New Zealand has recharacterized these as “distantly taxable goods” or “DTGs”. The key consequence of making this change is that non-resident sellers of those DTGs are very likely to create a liability to register and account for GST on the supplies [...]
Among all the noise surrounding Brexit and HMRC’s implementation of Making Tax Digital (MTD), another significant VAT change is also not far away. Sliding under the radar somewhat, implementation of the EU’s four ‘quick fixes’ is underway, with the new rules taking effect from 1 January 2020. These rules will affect all B2B supplies of goods which move cross border [...]
Once a company registers for VAT, it acquires certain responsibilities such as having to collect and remit the VAT due on its sales; and, compliance obligation like filing VAT returns. At the same time, it may enjoy the right to deduct owed input VAT through its periodic VAT return as well as make use of various simplification schemes. The French [...]
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