VAT saving opportunities for banks, credit and securities businesses The French 2022 finance bill includes a proposal to ease the terms under which financial services business may opt for taxation
VAT – gig and sharing economies As part of the VAT in the Digital Age review of the impact and best policies for indirect tax reforms, the European Commission is
Electronic invoices in two phases: Introduction (Dec 2021); and Integration (Jan 2023) Saudi Arabia is implementing the requirement for B2B electronic invoices for VAT transactions by resident businesses from 4
Draft Bill to impose VAT on nonresident digital or electronic service providers and marketplace platforms The Philippines’ House has approved a bill (House Bill 7425 (HB 7425)) to implement VAT
Extra six days GST filing and remittance delay The New Zealand Inland Revenue has extended the filing dates and remittances due for September month filers and August and September bi-monthly
Second VAT rate cut in four years The ruling Liberal Democratic Party of Uzbekistan has moved to reduce the standard Value Added Tax rate to 12% from 1 January 2023.
Electronic invoicing to combat €3.6 billion in missing VAT The Belgian budget in October included a provision for the phased introduction of electronic invoicing for Business-to-Business transactions. Check VAT Calc’s
Government pre-clearance electronic invoicing Bolivia’s National Tax Service’s (SIN) has recommenced its plans to implement mandatory e-invoicing – Sistema De Facturacion Electronica (SFE) – from 1 December 2021. The SFE e-invoice
Ends withholding tax requirement The Russian Federal Law has been amended from 1 October 2021 to introduce the Value Added Tax reverse charge on supplies made by non-residents to Russian
Pre-filled VAT returns for quarter 3, 2021 Building on the success of its Sistema di Interscambio (SdI) e-invoice program, Italy has launched for over two million quarterly-filing resident taxpayers an
New Zealand has proposed ending the obligation to create, issue and hold Goods and Services Tax (GST) invoices to reflect the digitisation of accounting and the future use of e-invoicing.
Simpler, fairer VAT fines The UK’s HMRC is introducing a new Value Added Tax penalty and interest regime for late returns and payments. This was included in the recent government
GST credits; import GST postponements; foreign low-value goods and digital providers. The Australian Taxation Office has announced a range of refliefs for businesses as the COVID-19 pandemic continues to affect
Can the definitive VAT system or other reforms close fraud gap? The European Parliament has reviewed a range of measures to close EU VAT Gap – the difference between forecast
Romania eFactură electronic invoices pilot Nov 2021; phased launch 2022-23 Romania’s Ministry of Public Finance has announced that it intends to introduce an RO national e-invoicing regime as early as 6
How to hack national VAT lotteries Taiwan is having to rethink its VAT receipt prize draw after it become clear tax fraudsters were gaming the system. The fortnightly lottery gives
Government to lift thousands out of VAT net; cuts to supplies on reduced rates The Swedish government has proposed increasing the Value Added Tax registration threshold from SEK 30,000 to
The Swiss Federal Council has issued several proposals to the Parliament to broaden the VAT rules on foreign e-commerce platforms via the deemed supplier, and introduce a voluntary annual VAT
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