Spiralling inflation prompts cuts on basic foodstuffs, gas and heating Croatia is the latest country cutting VAT on heating and food as its main inflation rate hits record levels. Its headline inflation rate has hit 12.3%, with heating and other basics being many times higher.
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Lack of definition puts uncertainty on UK VAT obligations for traders and marketplaces The UK’s HMRC has yet to confirm the Value Added Tax status of Non-Fungible Tokens (NFT’s), blockchain certificates of digital and physical assets. Whilst cryptocurrencies, another type of crypto asset, has been
Eurozone energy inflation 41% (38% August); temporary VAT subsidies for domestic power, foods and other basics A fast-growing queue of European countries are emerging to cut their already reduced VAT rates on domestic energy, petrol and foods. Eurozone headline inflation hit 10% in September (9.1% in
Are NFT crypto assets transactions subject to EU digital services VAT rules? Non-Fungible Tokens (NFT’s) trading is rising in popularity raising the question is they are liable to EU VAT as a digital service. Counties like Belgium and Spain have concluded they are – but
Review of 2020 4 Quick Fixes finds room for practical improvements The European Commission’s VAT Forum has produced a review of the 2020 VAT Quick Fix measures. These were introduced to effect four changes to the rules around B2B intra-community (within EU borders) VAT transactions to
Evaluation of electronic invoicing implementations with recommendations for global tax administrations; harmonisation not possible The Organisation for Economic Cooperation and Development has issued an initial findings report “Tax Administration 3.0 and Electronic Invoicing’ on electronic invoicing for tax authorities looking to introduce the VAT/GST control reform,
Spain to add live B2B e-invoices to existing SII real-time reporting; rollout between 2024 and 2026; legal obligation on ERP and billing system vendors to offer compliant systems Spain’s lower House of Parliament, the Congress of Spain, has ratified a technical specification Bill launching mandatory B2B
