COVID-19 is affecting business in ways no one thought possible. In order to free yourself from the burden of cashflow worry, we’re trying to do our bit to advice you on ways you can inject income into your bottom line.
April 1 2020, was meant to be the date that HMRC launched phase II of making Tax Digital across the UK. However, due to COVID-19, they have made the decision to postpone the rollout by one year to April 1 2021.
A country-by-country breakdown of the tax provisions and easements being implemented by individual country tax authorities.
The Coronavirus outbreak has lead to a surge in the usage of certain digital services such as online gaming and conferencing apps.
Covid-19 VAT implications around the world and what governments are doing to help.
According to European law, if your business sells goods directly to customers (B2C) via the internet, your business will be obliged to register for VAT
Mexico has joined the growing number of companies to implement VAT on eCommerce and digital services that are provided to Mexican residents by non-resident businesses.
If you’re a distance seller or online marketplace, then your business (or least its tax department) will need to have a firm understanding of Norway’s new VAT on eCommerce (VOEC) scheme in order to remain compliant in Norway. April 1st is around the corner and you’ll need to be paying the Norway tax man by then.
VAT structure and legislation is complicated for any multinational organisation or business making sales across the globe but with the exponential growth of the digital services industry, VAT compliance is even more complicated within this sector.
According to the UK Office for National Statistics, fishing was worth £784m to the UK economy in 2018. By comparison, the financial services industry was worth £132bn.
Understanding VAT Requirements in Denmark, Finland, Iceland, Norway and Sweden
The Algerian tax authorities will be imposing a new Digital services tax of 9%. The VAT will be charged on e-services that are provided by non-resident providers to Algerian residents.
Malaysia introduced a new digital services tax that took effect in January 2020. In a bid to increase the country’s revenue, a tax levy of 6% will need to be paid.
Ecuador is the latest country to officially introduce VAT on digital services. Foreign businesses providing e-services to Ecuadorian residents, will need to register for VAT in Ecuador in order to remain compliant.
Although US sales tax does not fall into the arena of VAT registration and compliance, we still want all our clients to know what they should be charging if they are retailing in U.S states. Below are the 2020 US sales and SUT tax rates for your guidance.
An international VAT Guide for digital businesses everywhere
The UK will introduce import controls on EU goods at the border after the Brexit having a significant impact on UK import VAT.
vatglobal has today released the findings of new research exploring the evolving European VAT landscape, highlighting the current situation across the UK, Germany and Sweden.
The European parliament approved Boris Johnson’s Brexit deal on Wednesday marking the final major decision in a four-year long journey.
Ukraine Introduces 20% Digital Services VAT.
In a bid to further their clamp down on digital tax and VAT fraud, the French VAT authorities have released further details about the obligation for online e-commerce businesses to provide extensive details about all French sales.
South Africa is broadening its definition of what constitutes a digital service forcing VAT registrations in the country.
When Phase 2 of Making Tax Digital is rolled out in April of 2020, over one million businesses of all sizes will be affected by major factors that were not prevalent in phase 1.
Important announcements regarding the e-Invoicing Directive which will impact all businesses across the EU.
In a bid to further their clamp down on digital tax and vat fraud, the French VAT authorities have released further details about the obligation for online e-commerce businesses to provide extensive details about all french sales.
vatglobal CEO, Gareth Kobrin, explores Digital Services Tax and the ongoing feud between France and the US.
Meetings between Boris Johnson and Ursula von der Leyen, the president of the European Commission progress forward.
Acquiring a company VAT number in New Zealand entails registering for domestic GST
Fiscal Representation in France for VAT compliance | The French ’Inspection Générale des Finances (IGF) has issued a report on securing the collection of value added tax (VAT) while combating fraud.
Come the end of January 2020 the UK will officially leave the European Union and UK businesses will have many aspects around VAT compliance to consider due to the beginning of Brexit.
If you’re about venture into Spain and need to register for Spanish VAT, then this article provides a foundation of understanding Suministro Immediato de Informacion (SII).
Eleven European countries have approved the quick fixes made to four EU council directives which will be in effect from 1st January 2020.
If your digital services business has not registered for GST in Singapore as yet, time is ticking.
The move to review tax rates, exemptions and the cess comes amid a shortfall in revenue receipts of the union.
Why Half of Small Businesses Make VAT Return Errors
MTD for VAT — A New Compliance Rule for UK Businesses
6 Steps For Submitting VAT Returns Correctly
The World is Watching: Cryptocurrency and VAT Implications
The Viability of Removing VAT on Digital Publications
Taxing Digital Platforms: The Uber Test
Businesses shipping to and selling goods in Norway are in for extra VAT registration admin in 2020.
As tax moves into the digital world, hundreds of thousands of organisations across Europe will face substantial challenges when it comes to adhering to VAT.
The European Commission decided to initiate formal infringement proceedings against Germany over section 22f & 25e of the German VAT Act.
HMRC letters to VAT-registered businesses trading with the EU explaining how to prepare for changes to customs, excise and VAT if the UK leaves the EU without a deal.
Greece’s government have made significant changes to their tax system which aims to simplify taxpayers filing requirements.
As of 1st January 2020, significant changes to intra-community VAT system in Poland will come into effect.
Bulgaria have amended their VAT registration rules for taxpayers
The Portuguese Tax & Customs Authority (PTA) have announced the buying or selling cryptocurrency in Portugal is a tax-free transaction.
HMRC has announced a delay to the introduction of the VAT Domestic Reverse Charge for construction businesses after a coalition of trade bodies and organisations highlighted its potentially damaging consequences.
Discover a comprehensive review of the implemented and upcoming changes to the Polish VAT system.
VAT expert and VATGlobal CEO, Gareth Kobrin explains the impact of Brexit on UK businesses.
EU countries lost €137 billion in VAT revenues in 2017
Greece’s Independent Authority for Public Revenue have just confirmed UK established firms will now require fiscal representation to perform taxable transactions should a no-deal Brexit occur.
The Federal Tax Authority has unveiled a new electronic system designed to aid the registering of excise goods in the UAE.
HMRC figures show one in ten UK firms filed VAT non-compliantly after the first deadline.
Croatian Finance Minister, Zdravko Maric, announces plans to reduce standard VAT rate to boost national tourism, hospitality and food & drink industries.
Showing his plans for the first time to an International media organisation, Mishutin shares he is an advocate for digital, real-time tax administration with no tax returns in Russia.
Saudi Arabia have amended their VAT laws as of 18th July 2019.
This month an increasing number of European countries have announced planned VAT reductions across a wide range of goods and services.
Among changes announced were a substantial reduction in both corporate tax and value-added tax (VAT).
Legislation approved in France this week imposes a digital services tax on technology firms.
Thousands of construction companies are facing a 20% drop in cash flow when VAT changes come into force in October.
US announce crackdown on crypto tax evasion, whilst other countries exempt crypto from VAT altogether.
Japan set to raise Consumption Tax by 1st October 2019
Intrastat thresholds have changed in several EU countries as of 2019. Discover the changes and how it impacts you.
HMRC put forward legislation to increase VAT for home solar-power systems from 5% to 20%.
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.
Kuwait reports indicate that it plans to implement a 5% VAT regime from 1st April 2021.
The Polish Ministry of Finance has delayed the introduction of SAF-T to replace the existing VAT system to 2020.
Effective from 1st July 2019, the number of products and services that will be subject to VAT has significantly increased in the country.
A sales tax registration & collection obligation imposed on remote sellers which exceed $500,000 in sales in California.
The Greek PM's proposal for reduction in VAT across a wide range of goods is approved.
Construction sector businesses have been warned they will be the focus of targeted rule changes that aim to tackle VAT fraud.
Businesses selling in, or to, Iceland will no longer require a fiscal representative for VAT
HMRC is looking to whether Uber should be classified as a transportation company, and therefore liable to pay VAT in the UK.
500 days since it's introduction, VAT refunds in the UAE are soaring.
UK MP Chris Bryant calls for scrapping the 20% VAT rate applied to sunscreen products, encouraging more people to regularly use it.
On the eve of a European election, Greek Prime Minister Alexis Tsipras proposes a number of significant tax reductions focusing on increasing tourism to the country.
The Transactional Network Analysis quickly uncovers suspicious transactions and fraudulent VAT activity.
A proposed VAT law change is close to being implemented in Lithuania in attempts to boost the economy.
Under the new rules, armed forces deployed outside their own Member State would not pay VAT or excise duty to other Member States
Following an announcement from the Budget Committee in Kuwait, VAT will not be introduced to the state for at least two years.
Part of a major overhaul of pre-existing VAT systems, the Chinese Government are implementing a number of significant changes to their VAT laws and processes. | Chinese VAT
A concise list of all major changes made to Value Added Tax (and Goods & Services Tax) rates around the world that have come into effect since 1st January 2019.
By the end of the month, Bahraini businesses will have to submit their first ever VAT return within the country.
The Federal Tax Authority in the United Arab Emirates have introduced a VAT refund scheme for foreign business visitors traveling to the area.
A summary of the 2019 Thomson Reuters report on how tax teams are tackling the challenges of a digital tax world.
The Federal Tax Authority in the UAE see a record number of VAT registrations.
Gareth Kobrin, CEO of VATGlobal & Abbey Heller, of SAP Concur, discuss the upcoming Making Tax Digital deadline.
Following the decision of the State Council, the Ministry of Finance in China has announced $298bn tax cuts to boost growth.
Italian authorities have announced their plans ahead of the UK's possible no-deal Brexit departure.
U.S. Consumption Tax of 5% could raise $3 trillion by 2028 says Congressional Budget Office.
HMRC outline important changes to customs procedures and VAT for UK-EU trade that will occur if the UK leaves the EU without a deal.
New legislation announced sees enforced split payments for industries susceptible to VAT fraud. As well as a new list of goods and services, currently at 8% VAT, that will be reduced to a rate of 5% based on CN codes and the Polish classification of goods and services.
UK businesses VAT registered in Belgium will be required to appoint a fiscal representative post Brexit
Businesses currently using the MOSS system in the UK must be aware of changes following Brexit
UK businesses wishing to claim EU VAT incurred in 2018 must act now
The statutory instrument enabling businesses to defer UK import VAT has recently been issued
Businesses who may be heavily affected by a 'no-deal' Brexit have received letters from HMRC
With the massive loss experienced by the Prime Minister in the Commons yesterday, we have never been further away from a deal. Without a deal agreed between the UK and EU, there is nothing but uncertainty from a VAT perspective...