Most retailers must have adopted electronic Point-of-Sale machines for VAT reporting by 1 July 2022 Italy is enforcing the adoption of electronic cash registers which the capability to make automated daily transaction reports to the tax authorities. All retailers above the further reduced threshold will
Following the UK leaving the EU Customs Union and VAT regime, it’s possible on temporary imports to reduce cash payments on custom and VAT Following Brexit, it is possible to apply for a delay or reduction on import VAT and any customs duties you may
Mandatory Online Electronic Invoices for remaining VAT registered business extending to 1 July 2023 The remaining small taxpayers now already on the state FEL e-invoicing platform have been given a three-month extension. Guatemala’s Superintendent of Tax Administration (SAT) has moved the registration deadline from 1
Inflation hits 26-year high at 6.8% in March 2022 Peru’s Congress has zero-rated the sale and import of a range of foodstuffs as inflation hits some of the highest levels seen in three decades. This will be in place between 2 May until 31 July
Switzerland is to hold a referendum on 15 May to introduce a 4% levy on providers of digital streaming services such as Amazon, Disney and Netflix. This is expected to generate between CHF18 million ($19.3 million) and CHF30 million a year for the Swiss film
European Commission seeks to harmonise digital Continuous Transaction Controls ‘CTC’ options for VAT e-invoice and real-time reporting The European Commission (EC) is undertaking a review to introduce harmonised Digital Reporting Requirements (DRR) (previously known as ‘Transaction Based Reporting’) across the 27 member states. A public consultation
Over 500,000 business receive CNY 420 billion (approx €700bn) to boost COVID-hit economy The accelerated release of credits to small businesses and larger corporations in certain sectors is giving large scale liquidity to the economy. The first wave of VAT repayments has been paid over
Harmonisation of VAT on electronic and paper-based books and periodicals Moldova has followed the example of the EU, and synchronised the Value Added Tax rate on electronic books and periodicals with those on their printed equivalent. The measure, which exempts electronic publications from VAT, was
Sales tax introduced; VAT exemptions withdrawn The Central Asian state of Uzbekistan has introduced a 1% turnover tax from 1 April 2022 until 31 December 2024 for a range of sectors. It has also removed the VAT exemption on banking fixed-fee services. Shoe manufactures Retail
VAT reforms – platforms; gig and sharing economies; full deemed supplier liablity? As part of the VAT in the Digital Age review of the impact and best policies for indirect tax reforms, the European Commission is reviewing ‘VAT Treatment of the Platform Economy’. This includes
