HMRC confirms reporting thresholds for goods moving between EU and Northern Ireland will remain unchanged for 2023 The Northern Ireland to EU Intrastat thresholds for 2023 will remain at the
General Consumption Tax simplifications The South Pacific French territory of New Caledonia is to simplify its TGV regime – VAT. The changes will include: Consolidating the existing four rates (11%
2023 Budget hikes VAT as country seeks debt restructuring with IMF The West African country of Ghana has announced raise in Value Added Tax standard rate from 12.5% to 15%.
UK Treasury abandons 2% Online Sales Tax on e-commerce goods and services In the latest Autumn Statement, the UK confirmed that it will stop its review of a potential online
Pre-clearance electronic invoice model – Continuous Transaction Controls CTR Slovakia has become the latest European e-invoice candidate with the launching of a public consultation and plans implement requirement for B2G
New Frequently Asked Questions for e-invoicing and e-waybills The Indian e-invoicing FAQ’s have been updated this month. Topics covered include: e-invoicing processing with supplier processes e-waybill creation deadlines e-waybills for
ViDA – the most ambitious reforms to the EU VAT regime in decades will be unveiled on 7th December 2022. What should we expect? I’ve dusted off my crystal ball.
ZATCA starts 2nd, ‘Integration’ phase for mandatory B2B e-invoice 1 January 2023 Saudi Tax and Customs Authority (ZATCA) starts the second phase of e-invoicing in 2023. This will require businesses to:
Increase for dispatches and arrivals of goods across EU reporting thresholds 2023 Romania has gazetted a rise in Intrastat thresholds from 1 January 2023. The increases will be as follows:
National Bureau for Revenue set-up consultations with industry on launch plans for e-invoicing The Bahrain NBR is organising a serious of consultations and workshops with major businesses around launch plans
Food and medical supplies cut from 10% to 5% proposal The Russian Federation is considering a new reduced 5% VAT rate for certain basic supplies. This would be from the
Intrastat – reporting on movement of goods between EU member states – reporting threshold to rise 1 January 2023 Finland has increased its Intrastat reporting thresholds for 2022 as follows
Bill to impose 12% VAT on nonresident digital or electronic service providers and marketplace platforms – possible implementation 1 July 2023 The Philippines House of Representatives has approved Bill 4122
Annual threshold for intra-community goods movements reporting hiked Lithuania has announced the increase in its annual threshold for the reporting of Intrastat. This includes reporting statistical values. The new thresholds
Annual VAT registration thresholds and Intrastat dispatches & arrivals The table below provides the latest European VAT registration thresholds for resident and non-resident (foreign) businesses, plus Intrastat reporting threshold. Note,
EU Council approves doubling of annual threshold for VAT compliance from 1 January 2023 The Council of the European Council has agreed to the Bulgarian plan to double the annual
Continued freezing of UK VAT registration threshold at £85,000 until April 2026 draws in 16,700 small businesses into tax net Today’s UK Autumn Statement (budget) will extend the VAT threshold
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