Whether you’re a small business that has just registered for VAT, or are an existing company that has been submitting VAT returns for years, it’s important to remain up-to-date with compliance procedures changes as and when they pop up.
When it comes to tax compliance, especially if you are an internationally operating company, it is important to make sure you are following the right steps in order to submit your VAT returns correctly each time.
The European Commission decided to initiate formal infringement proceedings against Germany over section 22f & 25e of the German VAT Act.
The French Senate and the National Assembly have approved legislation which now means companies are liable for a 3% digital services tax when their digital revenue exceeds €750 million ($850m; £670m) worldwide and more than €25 million being generated through French revenue.
In the event that the UK leaves the EU with no withdrawal agreement in place on 29 March 2019, goods arriving from other EU member states will be treated as imports from this date.
A new VAT system for e-commerce sellers
The new framework is supposed to come into force in 2021.
VAT registered businesses trading above the compulsory registration threshold (currently £85,000) will not be able to use manual records from 1 April 2019. Instead, businesses must use‘functional compatible software’ (digital records) to meet the new requirements.
Currently under Russian law, non-established suppliers of e-services to Russian consumers are required to register for Russian VAT, and account for VAT on periodic VAT returns.