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.
In Poland, the Government delays the combined SAF-T monthly filing and announces Covid-19 measures. SAF-T The Polish Ministry of Finance announced the postponement of the go-live date for the combined SAF-T monthly filing (JPK_VAT) for large companies. The implementation date moves from the 1st April 2020 to the 1st July 2020. Whilst legislation is yet to be introduced, it is [...]
The UK Government wheeled back around to confirm Postponed Accounting for Import VAT from January 2021. Previously they announced that the scheme following a hard Brexit. Then they withdrew that simplification following adoption of the Withdrawal Agreement (and entering the transitional period). They now reversed this decision. The new scheme will apply to all goods coming into the UK, including [...]
The UK Government will introduce legislation relating to call-off stock. These are simplified rules on the VAT treatment of intra-EU movements of call-off stock. The legislation will apply to goods removed from a Member State on or after 1 January 2020. The quick fix for call-off stock allows for a simplification application; the supplier no longer registers in the place [...]
In the Budget, the UK Government announced a reduced VAT rate on e-books and publications. This is from the standard rate of 20% to the zero rate. The new e-books VAT rate comes into effect from December 2020. This will be good news for those in the publishing and media industries; they lobbied for the government to reduce the VAT [...]
The UK Government will abolish the ‘tampon tax’ after Brexit; removing VAT on all sanitary products. The UK ‘tampon tax,’ widely criticised, taxes sanitary products at the standard 20% rate of UK VAT. This is due to the UK’s VAT legislation aligning with EU VAT laws. As a result, that EU law prevented the UK from applying the zero-rate of [...]
The European Council (EC) adopted rules facilitating the detection of VAT fraud for Payment Services Providers. This is for cross-border e-commerce transactions and applies from January 2024. As noted in our story from 6 January 2020, the new measures include amendments to the VAT Directive. They requires Payment Services Providers to keep records of VAT and cross-border e-commerce payments. Furthermore, [...]
Chairman Nicholas Hallam considers the implications of changes to VAT on businesses and consumers in his most recent article featured on Bloomberg Tax. The U.K. government has announced significant changes to how value-added tax (VAT) will be treated in the post-transition period—notably the removal of postponed accounting for import VAT. Nicholas Hallam, of Accordance, considers the implications of these changes [...]
"Companies are changing the way they manage call-off stock, supply chains, transportation documents and VAT identification to ensure they can benefit from the EU’s VAT “quick fixes”." This is the start to a recent article in International Tax Review. Our VAT Consultant Russell Hughes quotes within the article; “It means that businesses won’t need to investigate regulations in every member [...]
The Department of International Trade (DIT) consulted on the UK Global Tariffs, which will apply to all imports into the UK from 1 January 2021. This will mainly deal with imports from countries where the UK does not have by a specific Free Trade Agreement or the import is not covered by a specific Generalised Scheme of Preferences. This will [...]
The European Council (EC) adopted the simplified VAT rules for small businesses. As noted in our story from 6th January 2020, the purpose of the new rules is to reduce the administrative VAT burden and compliance costs for small enterprises and create an environment which assists those SMEs to grow and trade across borders more efficiently. Small businesses will be [...]
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