Richard Asquith - vatcalc.com

EU DAC8 adopted – Crypto assets tax reporting harmonisation Jan 2026

17 October 2023 in

Crypto-Assets

DAC8 adopted by EU Council Harmonise EU tax reporting by e-money, cryptoassets and cryptocurrency intermediaries The EU Council has today approved the new proposed Directive on Administrative Cooperation mainly covering tax reporting on cryptocurrencies, Non-fungible tokens (NFT's) and other crypto assets (‘DAC8’). This amendment to

Belgium B2C marketplace joint VAT liabilities 2024

14 October 2023 in

Belgium

E-commerce marketplaces jointly and severally liable; due diligence requirements Belgium is considering a proposal to make digital platforms and marketplaces jointly and severally liable for their third-party sellers B2C transactions. This could take effect from 1 January 2024 in a Bill being drawn up. Belgium would

Sierra Leone Digital Services Tax

13 October 2023 in

Digital Services Tax

1.5% DST on digital and electronic transactions Jan 2021 Sierra Leone introduced its Digital Services Tax (DST) from 1 January 2021. This was implemented via the 2021 Finance Act. The tax is levied on advertising, search and subscription services irrespective of the country of residence

UK VAT split payments foreign e-commerce fraud pilot

10 October 2023 in

Split payments

HMRC launches e-commerce VAT split payments project to tackle seller fraud HMRC have initiated an 18-month proof-of-concept (POC) project to evaluate the feasibility of e-commerce transaction real-time direct VAT payments. The focus is on sales of e-commerce goods and services by non-resident merchants, and to

UK ends reliance on ECJ VAT case law 2024

10 October 2023 in

Brexit

Following Brexit, UK’s Retained EU Law Act 2023 ends certain reliance on EU-derived rulings on VAT The UK will cut certain links to EU VAT derived legislation from 1 January 2024. This is contained within the Retained EU Law Act 2023 (‘the Act’) which, following.

Slovakia VAT rise to 22% proposal

9 October 2023 in

Slovakia

Ministry of Finance proposes 2% VAT rise The Slovakian Ministry of Finance has proposed a 2% rise in the standard Value Added Tax rate. This would increase the rate from 20% to 22%. In its proposals, the Ministry highlights that Slovakia’s 20% VAT rate is

Greece to cut VAT gap with MyDATA e-invoicing, pre-filled VAT returns

4 October 2023 in

e-invoicing

Finance Ministry targets extra €2 billion VAT collections from digitalisation of reporting The Greek Finance Ministry is aiming to improve on the nearly 20% VAT gap losses in tax revenues from a range of measures. Greece is looking to emulate the success of Poland and

Brazil Nota Fiscal Eletrônica e-invoicing update

28 September 2023 in

Brazil

Progress to unify Brazil Nota Fiscal e-invoicing The Brazilian government is proposing to harmonise the multitude of e-invoicing formats with a National Statute for the Simplification of Additional Tax Obligations. In addition to simplifying and digitalising many tax reporting requirement, the statue covers harmonisation of

Dominican Republic e-CF mandatory e-invoicing 2024

18 September 2023 in

Dominican Republic

3-waves mandatory e-invoicing from 2024 Following the passing of a Bill to mandate e-CF e-invoices, the Dominican Republic’s General Directorate of Internal Taxes (Dirección General de Impuestos Internos (DGII) has issued new guidance on the rollout of the new regime. The 2024-26 timetable is: 2024:Large

Romania VAT rise risk

15 September 2023 in

Romania

Doubts on budget gap discussions with EU puts VAT rise into play Update 19 Sept: draft law includes a number of measures including VAT on sugary products to avoid a standard VAT rate rise. Proposals for sweeping pubic spending cuts are included. The Romanian coalition

Author: Richard Asquith