UK businesses are exempt from VAT in many types of B2C transactions with customers outside of the UK. VAT exemptions apply to several services provided to non-UK customers, including advertising, financial services and consulting. However, the VAT exemption did not apply to B2C services provided to customers in EU countries, in line with European regulations. […]
France has taken the next step into introducing mandatory B2B e-invoicing, which it plans to roll out in stages. A bill has been introduced outlining the imposition of mandatory France B2B e-invoicing for large firms from 1 January 2023. The e-invoicing requirement will extend to medium-sized companies in 2024 and small businesses in 2025. Companies […]
Oman has previously announced the introduction of 5% VAT, aimed at driving economic growth in the Gulf state. Oman’s VAT Law has now been published and will come into force on 16 April 2021. The law has important implications for non-resident businesses that wish to do business in Oman. No threshold for nonresident registration Nonresident […]
Spanish customs authorities have issued guidelines regarding the requirement for UK businesses to acquire an EORI number to export to Spain. The Spanish guidelines note that, whatever the outcome of trade negotiations between the EU and the UK, terms of trade will be fundamentally different once the UK leaves the common market. As with any […]
Black Friday and Cyber Monday sales are boom times for ecommerce retailers. If you sell goods to customers online, Black Friday means three things: sales, sales, sales. But sales means VAT, and VAT means compliance. A Black Friday sales spike is great for business, but it could have serious and complex implications in terms of […]
There have been some interesting developments regarding Brexit’s VAT implications of late. One of those is the UK and EU’s different views on how Northern Ireland should be treated for VAT. This week, HMRC published its policy and guidance on how businesses should account for VAT on goods traded between Northern Ireland and Great Britain. […]
The EU created the concept of the reverse charge mechanism to make it easier for both sellers and buyers to account for the VAT correctly without requiring foreign VAT registrations or having to go through the arduous process of cross-border VAT recovery. Most sales between EU member states will be subject to a reverse charge. […]
