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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Brexit | What The Transition Period Means For VAT and Cross Border Trade

February 5th, 2020|UK|

At 11pm on 31 January 2020, the UK officially left the European Union. However, at the same time the long awaited ‘Withdrawal Agreement’ immediately came into force. This will maintain most of the features of the UK’s EU membership throughout a ‘transitional period’ or ‘implementation period’. Find out below what the transition period means for VAT and your cross border [...]

France | Split Payment and Fiscal Representatives to Combat VAT Fraud

February 4th, 2020|France|

The French Inspection Générale des Finances (‘IGF’) has recently issued its November 2019 report ‘SÉCURISATION DU RECOUVREMENT DE LA TVA’ (Securing VAT Recovery). The report analysed various options for France to tackle VAT fraud and modernising the collection of VAT. The main two options for France to tackle VAT Fraud analysed in the report were: Implementing a split payment mechanism; [...]

Italy | VAT Rate Increase Postponed to 2021

February 4th, 2020|Italy|

The Italian government have decided to postpone any VAT rate increases until 1 January 2021. The VAT rate increase in Italy, which was initially reported in our story of June 2019 (here), was due to come into force from 1 January 2020. The government postponed the following VAT rate increases: The standard VAT rate will increase from 22% to 25% [...]

Romania | Split Payment Scheme Abolished

February 4th, 2020|Romania|

Romania will abolish its split payment scheme with effect from 1 February 2020. As a result, the split payment scheme in Romania is to remain in place on a voluntary basis. However it will no longer be mandatory for businesses. Split Payment Mechanism Previously under the split payment mechanism (which was in effect since 1st January 2018) there was a [...]

Lithuania | Implementation of the EU’s four ‘Quick Fixes’ for VAT

February 3rd, 2020|Lithuania|

The Lithuanian parliament has approved the Ministry of Finance’s draft budget bill for 2020. This includes amendments implementing new EU VAT rules in regards to the cross-border supply of goods within the EU, also known as the “Quick Fixes.” The Quick Fixes were adopted on the 17 December 2019 in Lithuania and are effective from 1 January 2020. EU’s ‘Quick [...]

Slovenia | New VAT Rate for E-Books

February 1st, 2020|Slovenia|

In our story of 6th October 2019, we reported that the Slovenian National Assembly agreed to reclassify the VAT rate for electronic publications (E-Books). This was from the standard rate of VAT of 22% to the reduced rate of VAT of 9.5%. We can confirm that the National Assembly are taking this a step further; not only reclassifying the VAT [...]

Hungary | Implementation of the EU’s four ‘Quick Fixes’ for VAT

February 1st, 2020|Hungary|

The Hungarian National Assembly adopted the draft bill to implement the EU’s ‘Quick Fixes’ into Hungarian VAT law. As a result - the changes to the Hungarian VAT act, partly incorporated as part of the summer tax package, are in effect from 1 January 2020. EU’s ‘Quick Fixes’ in Hungary The ‘Quick Fixes’ aim to provide clarity, guidance and some [...]

The New European | Why I’m giving my staff black armbands for Brexit Day

January 31st, 2020|Press Room|

Accordance VAT chief Lucy Franklin explains why her firm is marking Brexit Day with a symbol of pro-EU unity. After three years of uncertainty, appalling rhetoric and delays, today is the day millions of us hoped would not come to pass. Despite the best efforts of UK politicians, MEPs, business people, academics and individuals up and down the country, we [...]

Romania | Implementation of the EU’s ‘Quick Fixes’ for VAT into law

January 31st, 2020|Romania|

On 23 December 2019, the Ministry of Finance approved a draft bill to implement the EU’s ‘Quick Fixes’ into VAT law in Romania. As a result, the draft bill is in effect from 1 January 2020. The draft bill relates to the implementation of the EU temporary cross-border transaction simplifications; otherwise known as the ‘Quick Fixes’. The ‘Quick Fixes’ aim [...]

Business Leader Magazine | CEO in Focus

January 30th, 2020|Press Room|

Lucy Franklin is CEO of Brighton-based Accordance, a company aiming to become Europe's leading VAT provider. She talks to BLM about her ambitions in addition to her innovative staff well being initiatives. Can you tell us about Accordance and what it does? Accordance is an international tech-enabled compliance and consulting firm. We ease the burden that cross-border VAT creates by [...]

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