India may levy 18% GST on bitcoin
India is considering 18% Goods and Services Tax on crypto-currencies, such as bitcoin. A special task force, studying potential tax and regulatory frameworks for bitcoin purchases and sales, is...
View ArticlePeru abandons VAT cut
Peru abandoned plans to cut its VAT rate from 18% to 17% on 1 July 2017. The country’s fiscal deficit has widened recently, leading to an abandonment of the 3-year reduction plan to 15%. The post Peru...
View ArticleSingapore 7% GST e-services review
Singapore is reviewing introducing the obligation for non-resident providers of goods and electronic services consumers to charge 7% Goods and Services Tax (GST). GST is now the country’s second major...
View ArticleHungary live VAT invoice reporting 2018
Hungary’s Ministry for the Economy has provided further draft proposals on its July 2018 requirements for real time reporting of major sales invoices. Key requirements include: Sales invoices above HUF...
View ArticlePolish VAT split payments 2018
Poland is planning to introduce an anti-VAT fraud split payment regime from 1 January 2018. The scheme involves customers paying the VAT element of any B2B supply directly into a supplier secure VAT...
View ArticleLuxembourg loses 60% of e-commerce VAT
2017 Luxembourg government revenue figures have confirmed that the 2015 e-services EU VAT MOSS reform has cost the principality over 60% of its e-commerce revenues. The reforms shifted the B2C...
View ArticleMoldova harmonises to EU VAT
Moldova is consulting on a range of VAT reforms which will bring it further into line with the EU VAT regime. Proposals include: Changes to the rules on place of supply and tax point Allowance for...
View ArticleSaudi Arabia VAT regime details
Implementation regulations have been issued for the 2018 Saudi Arabia VAT regime. The implementation regulation adds lengthy details to the recently published VAT implementation legislation. This in...
View ArticleUK fulfilment centre VAT fraud update
The UK’s HMRC has updated plans to impose VAT fraud customer due diligence requirements on fulfilment houses. The Fulfilment House Due Diligence Scheme (FHDDS) regime was to be introduced in primary...
View ArticleItaly extends VAT split payments
Italy has implemented the extension of its VAT split system regime. The regime, which requires key parties to split the net and VAT payments to their suppliers, aims to prevent VAT fraud. The parties...
View ArticleAvalara VAT Reporting content updates 01-08-2017
Poland: In the ECL report in XML format, we have added the possibility to file for private persons. There are now two XML files for the PL ECL i.e. one for the filing for companies and one for the...
View ArticleIndia first GST returns due 20 September
Following the 1 July launch of India’s new Goods and Services Tax regime, the first monthly returns become due shortly. Almost 8 million businesses will be required to file. Generally, the three-stage...
View ArticleUS reviews e-commerce Sales Tax
The US Treasury has said that the administration will shortly revisit Sales Tax on goods sold by out-of-state e-commerce Sellers. At present, Sellers with no physical location in another US state are...
View ArticleUAE issues tax and VAT law procedures
The GCC state of UAE has this week issued a tax Law covering common procedures for taxes. This covers a number of issues related to VAT, which is due to be implemented from 1 January 2018. The Law...
View ArticleRomania VAT split payments 2018
Romania has published proposals to introduce anti-VAT fraud split payments on a compulsory basis from 1 January 2018. It will launch on a voluntary basis before the end of 2017. Split payments divide...
View ArticleKuwait approves VAT and excise draft laws
Kuwait has accepted this week draft implementation laws from the Gulf Cooperation Council (GCC) for new VAT and excise taxes. Kuwait is one of the six member states of the GCC, all of which are...
View ArticlePuerto Rico Sales and Use Tax
Following last year’s abandoned attempt to introduce Value Added Tax, Puerto Rico has implemented reforms to establish another effort as it seeks to stabilise its poor fiscal position. The Legislative...
View ArticleRomania VAT registration changes
The Romanian Tax Code is to be updated from 1 October 2017 to give new powers to the tax authorities on the issuances and withdrawal of VAT registration numbers. The authorities will now control the...
View ArticleTaiwan B2C foreign e-services
Taiwan has confirmed that the Value Added Tax registration threshold for non-resident suppliers of electronic services to consumers is Taiwanese $480,000 per annum. Since 1 May 2017, foreign providers...
View ArticleUK Sports Direct wins right to EU VAT appeal
The UK retailer, Sports Direct, has won the right to appeal a tax court decision obliging it to charge foreign VAT on its EU e-commerce sales from the UK. Avoiding higher EU VAT rates and costs...
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