VAT compliance often seems like an abstract matter. Something for the accounts team to work out as they crunch the numbers. For small businesses, however, sharp shifts in VAT requirements can have massive real life consequences. With Brexit now a reality, how can small and medium-sized businesses adapt to new VAT rules? Small businesses: seek […]
Kenya has joined the growing list of countries that have introduced a digital services tax (DST). DST will be charged on digital services supplied to users in Kenya, according to specified criteria (please contact a VAT expert for full clarity on determining user location). Authorities made provision for the DST in Kenya’s Finance Act of […]
UK tax authorities have updated guidance on UK VAT compliance and registering for VAT in the UK. According to HMRC guidelines, you are obliged to register for VAT in the UK if you are: A UK seller with an annual taxable turnover of over £85 000 An overseas seller that sells goods through an Online […]
Switzerland has introduced mandatory e-filing of VAT returns. As of 1 January 2021, any business registered for VAT in Switzerland must file VAT returns electronically. Swiss authorities have established an electronic system which allows for e-filing. E-filing was already available in Switzerland on an optional basis, but uptake had been relatively low. Two platforms for […]
Greece has announced that it will start implementing mandatory e-invoicing and e-books from 1 April 2021. Greece had previously intended to implement mandatory e-books submission in 2020. According to Greek authorities, they are delaying implementation partly due to difficulties caused by the Covid pandemic. Greece’s move towards mandatory electronic submission is part of a global […]
As of 1 January 2021, the Brexit transition period has ended. Any business importing goods from the UK to the EU must take note of the following new regulations. Please note, however, this is a general overview. There are nuances applying to various industries and products. Businesses that trade goods or services between the EU […]
The UK has issued a public call for public consultation on VAT and the gig and sharing economy. UK tax authorities are seeking more effective ways to regulate sharing and gig economy VAT in a digital world. The move is further evidence that international tax authorities are working actively to modernise their VAT rules. Already, […]
