The move to review tax rates, exemptions and the cess comes amid a shortfall in revenue receipts of the union.
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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...
From 1 January 2019, new rules will be introduced for the VAT MOSS scheme in the EU
Certain e-publications previously subject to the reduced rate will now be standard rated
Costa Rica will introduce VAT in 2019
Additional services have been brought into the scope of Korean VAT
Businesses with a certain taxable turnover in Bahrain must register for VAT by 20 December 2018.
The EC today announced detailed measures that are intended to ease the transition to new VAT rules for e-commerce that come into force in January 2021. The rules announced today (11 December, 2018), lay out the steps needed to 1) ensure that online marketplaces take responsibility and 2) ease the administrative burdens for e-commerce businesses
From April 2019, UK VAT registered business over the mandatory threshold of £85,000 will be required to meet new digital requirements for their UK VAT filing
B2B supplies of e-services will soon be subject to Russian VAT
E-publications may soon no longer be subject to the standard rate of VAT across the EU
Russian standard VAT rate will rise in 2019
Bahrain to introduce VAT in 2019
The 2016 VAT gap report for the 28 EU member states has recently been released
The UK government has released guidance on the VAT impacts of the UK leaving the EU with no deal negotiated
The scope of VAT has been extended to foreign B2C cloud computer services.
Romania is considering postponing cutting the19% VAT rate to 18% for 2019.
Sales and Service tax will replace GST in Malaysia
The standard rate in Russia will increase in 2019
Making Tax Digital (MTD) is an initiative by HMRC to provide a more technologically-driven approach to tax in order to improve efficiency, reduce errors, increase transparency and streamline processes.
To combat the inequality, South Dakota brought a case against Wayfair Inc which said that even if the supplier had no physical nexus in the classic sense, they should still collect and remit sales tax on online sales, to level the playing field with suppliers who do have a nexus.
The Russian standard rate is to increase
Multiple entities can now form VAT groups in Malta
Some reports are suggesting the UK may remain within the EU VAT area following Brexit
Malaysia has announced GST will be reduced to 0% from June 2018
Kuwait's parliament budget committee has announced the postponement of the VAT implementation until 2021
In the recent budget, it was announced that non-Australian entities making supplies of accommodation may be brought into the GST net
As from 1st of July 2018, new VAT regulations implementing a mechanism called Split Payment will come into force for eligible Polish taxpayers. Payment for an invoice will be split between two bank accounts of the seller: net value will be transferred to the regular bank account and the VAT value will be transferred to the VAT bank account.
Hungary will be implementing a real-time SAF-T audit obligation in July 2018. This is the third EU state to introduce the taxing audit requirement. As the trend continues for tax office opting for the SAF-T approach, automated tech solutions should be considered. Read about how VATGlobal's R&D and tech departments are collaborating to develop systems to help our clients...
The trend in business in undeniably a shift towards the provision of services which are provided online. As the world has moved more digital, tax offices around the world want to ensure they have the necessary laws in place to be able to earn their tax revenues accordingly. This has been identified as a key revenue source and therefore an area of major focus for tax offices around the world...
Figures released show levels of VAT compliance in UAE
Businesse not resident in Quebec may have QST registartion obligations if they supply digital services
Romania has increased the VAT registration threshold for resident businesses.
The UK chancellor yesterday released his spring statement, with 3 VAT announcements
The European Commission has issued infringement proceedings to Cyprus, Greece and Malta regarding their VAT treatment of yachts