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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Accountancy Today | Brexit and VAT

August 18th, 2020|Press Room|

On Accountancy Today, Director of Professional Services Andy Spencer considers the impact of Brexit on the VAT treatment of goods and services; VAT refunds; and Fiscal Representation. The Brexit process has been characterised by uncertainty - it is more than four years since the referendum, and it is still not clear what the future relationship with our largest trading partner [...]

UK | Further guidance on UK Border Operating Model

August 18th, 2020|UK|

The UK Government issues further guidance on the UK Border Operating Model; for importing and exporting goods with the EU. On 1 January 2020 the UK will no longer be part of the EU’s single market and customs union. As a result, there will be controls placed on the movement of goods between the UK and the EU. Considering this, [...]

Bloomberg Tax | VAT in the Time of Brexit

August 17th, 2020|Press Room|

It is hard to emphasize sufficiently how significant the Brexit changes from January 1, 2021 will be for the U.K. but from a VAT perspective there are more tangible implications to grasp—and with them a host of necessary preparations, as Alex Smith, of Sovos Accordance, discusses. VAT in the Time of Brexit Once again, a no-deal Brexit looms large on [...]

  • Four VAT ‘Quick Fixes’

EU | Member States introduce temporary reduced VAT rates in light of COVID-19

August 17th, 2020|EU|

This article was last updated on 17th August at 15:00 BST. Please follow the Sovos Regulatory Feed for further updates. EU Member States are introducing a variety of VAT measures. These measures assist businesses in navigating their way through tough trading conditions brought about by the COVID-19 pandemic. However, more recently we are seeing more tax authorities introducing temporary reduced [...]

EU | New tax package for fair and simple taxation

August 17th, 2020|EU|

VAT Consultant Russell Hughes rounds up the key proposals you should be aware of from the EU's Fair and Simple Taxation package. The European Commission (EC) recently published its new tax package for fair and simple taxation. The Fair and Simple Taxation package aims to help EU member states secure tax revenues; vital in the post COVID-19 economic climate. There [...]

Cyprus | EU’s Four ‘Quick Fixes’ for VAT

August 16th, 2020|Cyprus|

Cyprus implements the EU’s four 'Quick Fixes' for VAT into local law. The Cypriot Government recently implemented into local VAT law the simplifications to the cross-border supply of goods within the EU. These are also known as the EU’s four 'Quick Fixes' for VAT. Although enacted into legislation and published in the official gazette on 3 July 2020, the measures [...]

COVID-19 VAT measures introduced by EU tax authorities

August 10th, 2020|EU|

Many countries are now withdrawing COVID-19 VAT reliefs. This includes VAT return filing and/or payments introduced in response to the COVID-19 crisis. While other nations are letting any reliefs expire.  If your business utilised any of these COVID-19 VAT measures, please get in touch to discuss what you need to consider. Alternatively, contact your dedicated client service team at Sovos [...]

Covid-19 | VAT Implications of a virtual event

August 5th, 2020|Blog|

For businesses hosting a virtual event during Covid-19, VAT Consultant Thibaut Hubrecht discusses the VAT issues they need to be aware of. During these unprecedented and fast-moving times, business innovation is key to survive the looming economic recession. The events industry is no exception. In an effort to tackle the rapid spread of the Covid-19, Governments worldwide are prohibiting large [...]

EU | VAT e-commerce package & OSS delay confirmed

August 5th, 2020|EU|

The delay of the VAT e-commerce package and One Stop Shop (OSS) is confirmed to 1 July 2021. The European Council confirmed the delay in the implementation of the VAT e-commerce package and One Stop Shop (OSS) to 1 July 2021. This is following previous agreement from all Member States. However, whilst all Member States agreed the six month delay, [...]

Belgium | UK businesses need a fiscal representative from 2021

August 4th, 2020|Belgium|

UK companies VAT-registered in Belgium need to appoint a fiscal representative by 1 January 2021. The Belgian tax authority informed UK companies that are VAT-registered in Belgium, that they need to appoint a fiscal representative by 1 January 2021. At the end of the Brexit transition period on 31st December 2020, the UK becomes a third country for VAT purposes. [...]

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