Malta raises VAT registration threshold
The 2018 Maltese Budget includes a proposal to increase the country’s VAT registration threshold from €14,000 to €20,000. Non-resident companies must immediately VAT register if they are providing...
View ArticleParaguay e-invoicing software 2018
Paraguay is to launch a centrally-controlled electronic invoice system. The system, known as SIFEN, will include approved software provided by the government to tax payers. This will track all...
View ArticleGermany decrees for call-off stock
The German Federal Ministry of Finance published a decree on 10 October to permit a VAT registration exemption for foreign companies holding call-off stock in Germany. Call-off stock are goods held in...
View ArticleGreece VAT receipt lottery to fight fraud
Greece is to become the latest country to launch a monthly lottery based on VAT compliant receipts in an order to reduce VAT fraud. From the end of October, every VAT receipt will be stamped with a...
View ArticleUAE confirms Free Zones not VAT free
United Arab Emirates (UAE) Free Zones have been confirmed as not benefiting from automatic VAT-exempt status on the introduction of the new indirect tax from 1 January 2018. There are over 40 Free...
View ArticleItaly cancels 2018 VAT rise
The Italian Council of Ministers have overturned plans to raise the Italian VAT rate from 22% to 25% on 1 January 2018. The reduced VAT will also remain at its current level, 10%, instead of a planned...
View ArticleSwitzerland cuts e-book VAT to 2.5%
Switzerland is to reduce the VAT rate on e-books from 8% to 2.5% on 1 January 2018. This will bring the VAT rate on electronic books into line with that on printed books. The main Swiss VAT rate will...
View ArticleItaly electronic invoices compulsory 2019
Italy is to require all private tax payers to produce electronic invoices from the 1 January 2019. A number of sectors, including the oil industry, will start from January 2018. All sales invoices to...
View ArticleInternational VAT for dummies
You can’t do business across the European Union and much of the world without dealing with VAT. It’s a legal requirement in the majority of places your organisation wants to be. And like pretty much...
View ArticleBrazil ICMS on digital services 2018
The Brazilian state has confirmed the liability to ICMS for digital services from 1 April 2018. The consumption tax will only be applicable on sales to consumers – not B2B transactions. The place of...
View ArticleDutch cut labour taxes via VAT rise
The Netherlands has announced a reduced VAT rate rise from 6% to 9% to pay for income tax rate cuts and band simplifications. The number of income tax bands will be reduced from 4 to 2, and the rates...
View ArticleNorway SAF-T Jan 2018
Norway is on course to introduce Standard Audit File for Tax (SAF-T) reporting obligations from 1 January 2018. The detailed, electronic transaction reporting requirement, adopted across many European...
View ArticleUK wins EU ruling that Bridge is not VAT exempt sport
The European Court of Justice, ECJ, has today ruled that the card game Bridge is not considered a sport, and therefore 20% VAT is due on tournament or club membership fees. The European court was...
View ArticleGhana VAT e-cash register
Ghana has introduced mandatory ‘Fiscal Electronic Devices’ (FED) for the recording of secure VAT transactions. These are similar to e-cash registers, which live report to tax authorities cash payments...
View ArticleRomania raises VAT registration threshold
Romania is to increase its VAT registration threshold from RON 220,000 to RON 300,000 – approximately €65,000 to €80,000 per year. The new annual turnover threshold will apply from 1 January 2018. The...
View ArticleEU VAT reform challenges
On 4 October, the European Commission (EC) announced a fundamental reform of the EU VAT regime to help combat an estimated €50billion of annual VAT fraud. 3 major changes to the B2B EU VAT regime 2019...
View ArticleArab Gulf VAT update
The six member states of the Gulf Co-operation Council agreed under the Gulf VAT Treaty this year to introduce 5% VAT as a harmonised, VAT union. Below is an update of the progress to date: The post...
View ArticleBulgaria raises Intrastat threshold 2018
Bulgaria is to increase its Intrastat reporting thresholds for 2018, as follows: Arrivals: BGN 430,000 per annum (previously BGN 410,000) Dispatches: BGN 260,000 (previously BGN 240,000) Intrastat was...
View ArticleCompanies cutting UK exposure on hard Brexit fears
In anticipation of Brexit, 1 in 12 businesses are now planning to reduce their business in the UK compared to just 1 in 50 in 2016 The latest Avalara Brexit Survey first carried out in September 2016...
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