Italy is to loosen the requirements on taxpayers to reclaim output VAT on invoices which have subsequently not been paid by customers – bad debts. Currently, taxpayers may only reclaim VAT paid on bad debts once their customer has been declared bankrupt by the Italian
Following the implementation of Oman VAT on 16th April 2021, the second wave of businesses should be registering. The first phase of companies, with taxable supplies in excess of OMR 1million per annum should have now completed their registrations which would have gone live on
The US state of Missouri is considering bringing non-resident taxpayers into the state sales tax net from 2023. A draft bill passed by the House and Senate on 14 May 2021 would levy out-of-state taxing obligations where a seller or facilitating marketplace has sales above
Hungary has exempted (no penalties) foreign e-commerce sellers from the April 2021 obligation to submit B2C live invoices via the RTIR real-time reporting system. This is provided they opt to use the upcoming OSS return, part of the 2021 EU ecommerce package reforms effective 1
Thailand has delayed the deadlines on Value Added Tax filings again due to the economic impact of the coronavirus. The Thai Revenue office has changed the monthly returns dates as follows: June returns – due 30th instead of 15th July July returns – due 31
Amazon is notifying its sellers on preparations for the launch of the 1 July 2021 EU VAT ecommerce package. This withdraws distance selling thresholds, the €22 import VAT exemption and makes marketplaces like Amazon liable for their sellers’ transactions in certain cases. From 1 July
A summary of the main challenges facing business trading in Northern Ireland (NI) are as follows. Dual customs and VAT status for NI goods Following the end of the Brexit transition period on 31 December 2020, NI has taken up a dual position in the
COVID-19 VAT cuts to support key sectors Norway has extended VAT the application of the new 6% VAT rate on certain supplies until 30 September 2021. It had been scheduled to run out on 30 June 2021. The reduced rate was originally set at 12%,
China has again extended the ability for tech manufacturers to recover input VAT suffered in an effort to support the growth of the sector and exporting. China has traditionally restricted the rights for exporters to recover any Value Added Tax they have incurred in manufacturing.
VAT loans based on prior VAT remittances during pandemic Denmark has extended again its innovative VAT loan repayment scheme as coronavirus lockdown is extended. It is also pushing out its wage tax plans. The loan scheme, launched in April 2020, enabled taxpayers to request a
