Currently both resident and non-resident businesses operating in Bulgaria must register for VAT once they exceed BGN 50,000 (£22,000) in taxable supplies within a year.
In a surprising and somewhat last minute change, HMRC has announced they are postponing the intended implementation date of 1st October 2019, which was planned to be the start of the new regulations for the Reverse Charge Mechanism for constructions services.
The results of a lengthy study released by the European Commission highlight EU countries lost €137 billion in Value-Added Tax (VAT) revenues in 2017.
In the event the UK withdraws from the European Union on October 31st without a withdrawal agreement (a no-deal Brexit),companies which are established in the UK and have obtained a Tax Identification Number (VAT Registration Number) for VAT purposes in Greece..
In 2017, the UAE introduced an ‘excise tax’ on certain products which are deemed to put the health of the people and the environment at risk.
The Kingdom of Saudi Arabia have amended their VAT laws by removing the requirement for foreign VAT-registered businesses to appoint a local fiscal representative.
As found in our Reporting Obligations & VAT Guides section, Intrastat reporting is a monthly obligation for companies who move goods across borders in the EU and are subject to varying value thresholds depending on the country involved.
The UK Treasury, HMRC, have put forward legislation to increase VAT for home solar-power systems from 5% to 20%, ironically on the same day that MPs have been debating the government’s new net zero carbon target for 2050.
The Netherlands and France have joined forces in attempts to convince other European countries to end the current tax exemptions on jet fuel and plane tickets, as part of an ongoing drive to make the EU carbon neutral by 2050.
The Polish Ministry of Finance has again delayed the introduction of SAF-T (Standard Audit File for Tax), which was agreed back in November 2018 to replace the existing VAT laws in the country.