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.
Recent changes to Finnish VAT law have restricted the option to apply for a simplified registration (known as notification duty) which can be used by foreign companies. Now, the notification duty will no longer be applicable to foreign businesses that in addition to undertaking intra-community trade that involves Finland: Buy construction services or other services in Finland to which the [...]
Turkey has removed its low value consignment relief effective as of 1st June 2019. The regime applied to imported packages of goods entering Turkey which had a value of no more than EUR 22. It provided that these supplies were exempt from both import VAT and any related customs charges. However, the new rules effectively level the playing field between [...]
Recently issued regulations should ensure that in the event of the UK leaving the EU in a no-deal Brexit scenario, changes can be made to UK legislation to prevent double taxation when supplies of travel services are made. The Tour Operators Margin Scheme (TOMS) is a mandatory EU wide-simplified VAT accounting scheme for tour operators that buy in and sell on travel [...]
Further to the Czech Republic being the only Member State to date to make an application to apply the domestic generalized reverse charge mechanism (GRCM), the Commission has recently published a proposal authorising it to use this system. This is in response to the request made by the Czech Republic in March 2019. EU legislation introduced the GCRM at the end [...]
The Belgian customs authorities have made an important change to their definition of an ‘exporter’ in reference to Box 2 of the Single Administrative Document (SAD). A key condition to becoming an exporter of EU goods for customs purposes is to be established in an EU customs territory and also to hold a valid EORI number. When we are talking [...]
New research by Accordance reveals that some 78% of European businesses are unaware of the upcoming EU Four VAT ‘Quick Fixes’ legislation, and less than half (48%) are ready to manage the changes they will bring. Similarly, despite 58% of financial decision makers believing their companies will be affected by Real Time Reporting (RTR) in the next two to three [...]
All businesses that conduct overseas trade should take steps to prepare for a no deal Brexit, says Rob Janering, associate director at consultancy Accordance. The UK finds itself once again in the grip of an election – although this time, it is a contest whose procedures are only open to a select few. Despite the limited numbers involved, the outcome [...]
Intrastat is the system for collecting statistics on the movement of goods between Member States made by VAT-registered businesses. The EU Commission has proposed regulation, called FRIBS (the Framework Regulation Integrating Business Statistics), with an aim to modernise the Intrastat system as part of its more expansive project to harmonise the collection of business statistics throughout the EU. Initially expected to be [...]
Poland has recently enacted legislation introducing a VAT register for companies, known as a “white list”, to enhance VAT compliance from 1st September 2019. The register will hold key information on VAT-registered companies in Poland including: their contact details; dates of VAT registration; dates and reasons for deregistration/reregistration; and their bank account details. The aim of the white list is [...]
Further to the European Commission launching infringement proceedings against it at the start of the year, Belgium has enacted legislation changing the way it applies the special VAT scheme for travel agents (TOMS). These new rules came into effect on 25th May 2019. TOMS is an EU-wide simplification measure which must be used by businesses that buy in and resell [...]
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