Richard Asquith - vatcalc.com

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Spain 10% VAT rate electricity extended to April 2022

22 December 2021 in

COVID-19

Global wholesale price fresh highs forces extension of reduced VAT rate until 30th April 2022 Spain has extended from 31 December 2021 to 30 April 2022 the application of the reduced VAT rate of 10% on domestic electricity. Other European electricity VAT cuts have now

Uganda VAT on foreign digital services

22 December 2021 in

digital services

Uganda confirmed the VAT obligations for non-resident suppliers of B2C electronic or digital services from July 2018. This includes the obligation to VAT register once over the threshold of UGX 150m, but no requirement to appoint a fiscal representative. The current VAT rate in Uganda

Death of the VAT return

20 December 2021 in

Continuous Transaction Controls

Tax authorities migrating from VAT returns to digital reporting requirements, including e-invoices, SAF-T, Control Statements, pre-filled VAT returns and fiscal cash registers Driven by stubborn VAT fraud and other missing indirect tax levels – the EU VAT Gap is €136billion – many countries around the

Can blockchain close the VAT Gap? Probably not.

20 December 2021 in

Blockchain

Hype? Or is an immutable distributed ledger technology the solution to missing EU VAT revenues? The VAT gap of €136 billion per annum and costly complexity of the compliance rules begs for a technological leap. Is blockchain, made (in)famous by cryptocurrencies, the answer? The appeal

France updates B2C e-commerce VAT package rules

20 December 2021 in

deemed supplier

New guidance on cross-border €10,000 registration threshold; distance selling; registration and invoicing; marketplace deemed supplier France has issued new guidance on the implementation of the EU e-commerce VAT package which came into effect from 1 July 2021. This follows a public consultation in the Autumn.

Thailand delays foreign digital services VAT returns and payments

20 December 2021 in

digital services

Revenue Department gives e-service providers and marketplaces extra time on monthly filings and liability settlements Non-resident providers of electronic services have been given a postponement on their first VAT returns and payments. This follows Thailand introducing Value Added Tax on foreign providers in September 2021.

Canada delays marketplace GST/PST reporting obligations

16 December 2021 in

Canada

Revenue Agency gives extra 12 months for platforms to prepare The Canadian Revenue Agency has delayed until 2023 the due date for the first annual report from digital marketplaces on third party transactions subject to Goods and Services Tax and Harmonised Sales Tax (GST +

UK how to claim reduced Customs Duties after Brexit – Rules of Origin

16 December 2021 in

Brexit

Post Brexit, how to claim reduced tariff preference on UK-EU goods movements – Rule of Origin Following the UK’s exit from the EU, Customs Duties are potential due on goods moving between the UK and EU. The UK-EU Trade and Cooperation Agreement (TCA) entitles nil

New Zealand content creators’ GST tax obligations

15 December 2021 in

content creation

Tax on content creators including gig economy The New Zealand Inland Revenue has issued an Interpretation Statement on the Goods and Services Tax and income tax liabilities of online content creators for payments, consideration, merchandise sales, donations or gifts, prize winning and other remuneration received.

Bangladesh VAT on foreign digital services

15 December 2021 in

Bangladesh

Bangladesh implemented Value Added Tax obligations on non-resident providers of digital services to its consumers on 1 July 2019. Generally, the reduced VAT rate of 5% applies – but there are many exceptions when the standard 15% is imposed (e.g. social media). VAT applies to

Author: Richard Asquith

Spain 10% VAT rate electricity extended to April 2022

Uganda VAT on foreign digital services

Death of the VAT return

Can blockchain close the VAT Gap? Probably not.

France updates B2C e-commerce VAT package rules

Thailand delays foreign digital services VAT returns and payments

Canada delays marketplace GST/PST reporting obligations

UK how to claim reduced Customs Duties after Brexit – Rules of Origin

New Zealand content creators’ GST tax obligations

Bangladesh VAT on foreign digital services

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Author: Richard Asquith

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