Sistem E-Faktura B2B e-invoices launched January 2023 Since 1 January 2023, B2B e-invoicing has been mandated in Serbia via Sistem E-Faktura. This covers the creation, issuance, sending and receiving, processing and storage of e-invoicing. A new central clearing system, Continuous Transaction Controls (CTC) model has been created for
Ukraine may seek exception to EU’s 15% minium VAT rate during accession period As Ukraine plans its long-term aim to join the European Union, it has been reviewing how to comply with the 15% minimum standard VAT rate requirement of the EU’s VAT regime. Currently,
Two rulings clarify VAT liabilities on Cryptoassets The Italian Agenzi Entrate has provided guidance on the VAT liabilities of Cryptoassets in two rulings VAT exemption for Cryptoassets Mining The tax authorities stated that mining or forging (creation) of cryptoassets is an exempt activity. This is
New government may unblock VAT implementation plans to reform complex indirect tax regime As part of his newly installed government, President Lula of Brazil has appointed Bernard Appy as his special secretary for tax reform, which has been highlighted will be a priority in the
Struggling economy given tax boost as 3% VAT on small businesses temporarily withdrawn for 2023 and replaced with 1% rate On 9 January 2023, the Chinese Ministry of Finance provided fiscal relief for small businesses by reducing the Value Added Tax rate applicable to small
VAT Advisor ends the pain for complex cross-border transactions If you are selling cross-border goods or services – traditional or digital – you’ve got international VAT / GST questions: Who should pay how much tax, and in which country? What tax laws, EU VAT Directive
Transmission of myData via ERP goes live January 2024 The Greek digital My Digital Accounting and Tax Application (“myData”) invoicing and bookkeeping regime is being updated for users reporting via ERP’s. The new requirement from the Greek tax office, AADE for transmission of summary data will
VAT cut from 17% to 16% implemented; new 5% reduced rate added The East African state of Republic of Mozambique has cut its standard Value Added Tax rate from 17% to 16%. A new 5% reduced rate has been added for many previously zero-rated or
OECD launches consultation on ‘Pillar 1’ proposal that aims to end proliferation of controversial Digital Services Tax – details and US opposition doubts remain for 2024 implementation In December, the OECD issued a discussion document (draft Multilateral Convention) aiming to get back on track its proposed
