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.

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UK | HMRC automatically issues EORI numbers stepping up ‘No-Deal’ Brexit Preparations

September 5th, 2019|News, UK|

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 [...]

  • The four-day week aims to improve the wellbeing of Accordance employees

Employee Benefits | Are non-traditional working patterns the key to wellbeing?

September 3rd, 2019|Press Room|

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. [...]

UK | Will the Government follow suit in cutting the VAT rate for E-Books?

September 2nd, 2019|UK|

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 [...]

New Zealand | “Haere rā” to Low Value GST Exemption

August 29th, 2019|New Zealand|

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 [...]

Accountancy Daily | Four Quick Fixes to VAT on intra-EU movement of goods

August 28th, 2019|Press Room|

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

Slovakia | Prepares Draft Law on “Quick Fixes” Amongst Other VAT Changes Effective From 2020

August 18th, 2019|Slovakia|

The Slovak Ministry of Finance recently proposed to the Slovak VAT Act bringing the following major changes which are proposed to be effective from 1 January 2020: Implementation of the EU temporary cross-border transaction simplifications known as the quick fixes, namely: Simplification and harmonisation of rules regarding call-off stock; The VAT identification number of the customer becoming a substantive condition for exempting the [...]

France | Implements EU Voucher Rules Directive

August 17th, 2019|France|

On 7 August 2019, France amended its VAT legislation relating to its VAT treatment of vouchers by implementing the EU Vouchers Directive (Council Directive (EU) 2016/1065), which all EU Member States are required to transpose into their national law for the start of 2019. This directive introduces rules for the harmonised VAT treatment of vouchers (coupons) in the EU. The [...]

Latvia | Changes to VAT Legislation From July 2019

August 16th, 2019|Latvia|

On 30th May 2019, the following main amendments to the Latvian VAT Law were adopted and generally came into effect as of 1st July 2019: The reverse charge VAT regime for supplies of metalwork services is withdrawn. Instead such services which include cutting, bending and welding are subject to VAT. The application of the reverse charge in relation to semi-finished [...]

Greece | Launches Consultation on Electronic Bookkeeping

August 16th, 2019|Greece|

The Greek Finance Ministry has launched a consultation on its planned introduction of online electronic bookkeeping which will require all taxpayers to keep their accounting records digitally. Further to our previous story on Greece’s plans to introduce a mandatory real-time electronic invoicing system, the initiative has been put on hold. For now, all efforts are going into launching the electronic [...]

Latvia | Proposes to Further Cut VAT on Publications to 5% from 12%

August 15th, 2019|Latvia|

Recently, there has been a call to debate a proposal as part of the Latvian 2020 budget to further reduce the VAT rate on books from the reduced 12% rate to the super-reduced 5% rate. This proposal wouldn’t extend to electronic books which are currently taxed at the standard 21% VAT rate. However, discussions on whether Latvia should take advantage [...]

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