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Norway exempts digital currency mining

9 August 2023 in

Bitcoin

Joins other countries ruling minding or forging is financial service and therefore exempt from VAT The Norwegian Tax Administration has ruled (Tax Appeals Board Decision No. SKNS1-2023-30) that income for mining or forging digital currencies such as bitcoin are exempt from VAT. This is based

China extends 3% VAT rate withdrawal for small businesses till 31 Dec 2027

3 August 2023 in

China

Aug 2023: Ministry of Finance provides SMB VAT relief for further 5 years as growth slows The Chinese Ministry of Finance and State Administration of Taxation have extended the exemption for small businesses from the 3% VAT rate. Also, the alternative cash-flow based VAT accounting

Denmark SAF-T

27 July 2023 in

Denmark

Denmark’s Standard Audit File for Tax introduced as part of wider certified digital bookkeeping requirements The Danish Business Authority, Erhvervsstyrelsen, has developed a proposed version of SAF-T reporting for resident businesses to adopt. This is part of the Danish digital bookkeeping requirements being phased in,

Uganda VAT on foreign digital services update

12 July 2023 in

digital services

July 2023: extension of scope of services subject to VAT Uganda’s VAT has been amended to extend the scope of digital services subject to VAT – THE VALUE ADDED TAX (AMENDMENT) ACT, 2023. Non-resident e-service providers have been liable to charge and collect VAT for

Global VAT changes July 2023

3 July 2023 in

Goods and Services Tax

Major global Value Added Tax & Goods and Services Tax changes from 1 July 2023 Sign-up to our free VAT newsletter Or check global VAT rates in over 300 jurisdictions here 2027 Global VAT changes 2026 1 Nov 2026 UAE e-invoicing pilot deadline 1 Nov

EU €20 billion VAT in 2022 from OSS & IOSS; 130,000 taxpayers

2 July 2023 in

EU VAT

E-commerce package reforms 2022 revenues up 26% on 2021 numbers; 130,000 e-commerce sellers & marketplaces registered The European Commission as published 2022 revenues for the One Stop-Shop return and Import One Stop-Shop returns – €17 billion and €2.5 billion, respectively. It said that almost 130,000

France VAT groups 2023 update

30 June 2023 in

Latest VAT Group guidelines following consultation of new regime launched in January 2023 France has published the final VAT group regime guidelines. This follows a public consultation based on the January 2023 launch of the option for related groups to report under a single VAT

Luxembourg VAT cut gives limited inflationary relief

29 June 2023 in

Inflation

2023 1-year cut in VAT rate from 17% to 16% largely retained by businesses and not passed to consumer Luxembourg’s national statistics agency, Statec, has concluded that the temporary Luxembourg 1% standard VAT cut to 16% has largely not been passed onto consumers. Inflation only

Finland B2B real-time reporting evaluation

28 June 2023 in

e-invoices

Finland to evaluate mandatory real-time e-invoicing Finland is set to review mandating B2B e-invoicing / digital reporting for its taxpayers. This comes as the EU VAT in the Digital Age plans progress towards implementing structured e-invoicing for intra-community supplies from 2028. The news was included

France VAT & Customs fraud measures roadmap

8 June 2023 in

e-invoicing

Ministry of Finance new roadmap for mandatory e-invoicing, e-commerce platforms and dropshipping reforms The French Ministry for the Economy and Finance has published a roadmap for a range of measures to combat fraud in public finances. This includes a range of VAT-related measures which the

Author: Richard Asquith

Norway exempts digital currency mining

China extends 3% VAT rate withdrawal for small businesses till 31 Dec 2027

Denmark SAF-T

Uganda VAT on foreign digital services update

Global VAT changes July 2023

EU €20 billion VAT in 2022 from OSS & IOSS; 130,000 taxpayers

France VAT groups 2023 update

Luxembourg VAT cut gives limited inflationary relief

Finland B2B real-time reporting evaluation

France VAT & Customs fraud measures roadmap

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Author: Richard Asquith

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