Richard Asquith - vatcalc.com

France VAT B2B e-invoicing and B2C e-reporting July 2024 – new use cases

6 July 2022 in

e-invoice

New technical guidance for July 2024 first wave of mandatory electronic invoicing (B2B) and electronic reporting (B2C) France has published further technical guidance for the July 2024 launch of its mandatory B2B e-invoicing regime for resident business. The latest specifications (v1.3 / v2.0) offers more

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OECD questions VAT cuts to fight inflation

5 July 2022 in

Inflation

Doubts on effectiveness and pass through to consumers as inflation rockets and government reach of energy and food VAT reductions The Organisation for Economic Cooperation and Development (OECD) has raised doubts on the effectiveness of temporary VAT rate cuts to help consumers during rising inflation.

Italy rolls over domestic gas VAT cut to 5% until 30 September 2022

4 July 2022 in

COVID-19

Third extension of gas VAT cuts until 30 September 2022 as inflation hits 8% in June 2022 Italy has extended for the third time the temporary cut in Value Added Tax rate on domestic and industrial use gas until 30 September 2022. Italian inflation has

Belgium domestic heating VAT cut to 6% extension to 31 Dec 2022

3 July 2022 in

Belgium

9.7% June inflation prompts 3-month extension of electricity, gas and heating VAT rate cut to 31 December 2022 As Belgian energy inflation hit 56% in June, the temporary cut in heating VAT rate was extended a further 3 months until the end of the year.

EU VAT Digital Reporting Requirements (DRR) e-invoice harmonisation update

27 June 2022 in

Continuous Transaction Controls

European Commission seeks to harmonise digital Continuous Transaction Controls ‘CTC’ options for VAT e-invoice and real-time reporting. VAT Directive Amendments by 7 December 2022 Read our ViDA reform predictions for e-invoicing and intra-community near-real time reporting. The European Commission (EC) is undertaking a review to introduce harmonised

EU publishes details of DAC7 2023 digital platform reporting obligations

24 June 2022 in

DAC 7

Technical framework for exchange of marketplace transaction data exchanges to help tax authorities detect VAT fraud The European Commission has issued consultation details of technical data requirements for the Directive on Administration Cooperation DAC 7 which comes into force in January 2023. This seeks to

VAT cuts on energy & food as inflation hits record 8.1% in May 2022

24 June 2022 in

domestic gas and electricity

Eurozone energy inflation 39% May 2022; 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 8.1% in May, up from

Spain further electricity VAT rate cut to 5% as inflation hits 27-year high

23 June 2022 in

COVID-19

Domestic electricity rate to be cut from 10% to 5% as inflation hits 8.7% in May Prime Minister Pedro Sanchez announced in Parliament on 22 June a plan to half the VAT rate on domestic electricity to 5%. It was originally cut from the 21%

Lithuania to cut food VAT to 0%

22 June 2022 in

Inflation

Inflation hits 18.5% in May 2022 prompts August VAT rate cut proposal The Lithuanian Seimas Parliament is reviewing legislation to temporary cut the VAT rate on foods from 5% to 0%. This would come into effect from 1 August 2022. Following the Russian invasion of

Single VAT registration in the EU – update

22 June 2022 in

Extension of OSS return for cross-border B2C and B2B goods and services transactions as part of VAT in the Digital Age reforms. 3 options for transfers of own goods challenge The European Commission (EC) is set to publish draft VAT Directive amendments by 7 December

Author: Richard Asquith

France VAT B2B e-invoicing and B2C e-reporting July 2024 – new use cases

OECD questions VAT cuts to fight inflation

Italy rolls over domestic gas VAT cut to 5% until 30 September 2022

Belgium domestic heating VAT cut to 6% extension to 31 Dec 2022

EU VAT Digital Reporting Requirements (DRR) e-invoice harmonisation update

EU publishes details of DAC7 2023 digital platform reporting obligations

VAT cuts on energy & food as inflation hits record 8.1% in May 2022

Spain further electricity VAT rate cut to 5% as inflation hits 27-year high

Lithuania to cut food VAT to 0%

Single VAT registration in the EU – update

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