Greece hikes VAT on multiple home sharers
Greece hikes VAT on multiple home sharers
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VAT imposed on renters of three or more properties 2024; hike in ‘stayover tax’ Greece is to automatically apply VAT on sharing economy home renting where the provider offers three
Bulgaria quarterly cash reporting for VAT registered businesses
Bulgaria quarterly cash reporting for VAT registered businesses
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New quarterly reporting of cash and receivables from Nov 2023 Bulgaria’s 2023 Budget has imposed a new quarterly report for all VAT registered businesses to declare cash holdings and certain
Finland VAT on crowdfunding
Finland VAT on crowdfunding
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New guidance on VAT liabilities for crowdfunding, including peer-to-peer loans The Finnish tax authority has issued new tax guidance including the VAT issues for contributors to crowd-funding projects. Scope of
German parliament reviews 2024 VAT reforms
German parliament reviews 2024 VAT reforms
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As part of major investment and structural reforms, range of VAT measures now being review in German parliament Germany has launched a major set of investment and innovation bill which
Portugal food VAT rate cut – extended until 31 December 2023
Portugal food VAT rate cut – extended until 31 December 2023
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Basic foods VAT cut from 7% to zero extended by three months till end of the year The Portuguese government has extended the temporary cut in VAT on basic foods
Austria Standard Audit File for Tax SAF-T relaunch 2024
Austria Standard Audit File for Tax SAF-T relaunch 2024
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Austria to relaunch its SAF-T regime March 2024; was one of the earliest to adopt the OECD’s format for exchanging data with the tax authorities Austria’s is relaunching its version
Singapore GST rise to 9% Jan 2024 – new guidance
Singapore GST rise to 9% Jan 2024 – new guidance
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Updated guidance on second rise in GST from 8% to 9% January 2024 Singapore's Inland Revenue Authority has issued new guidance on the implementation of the 1 January 2024 GST
China VAT credits struggle
China VAT credits struggle
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New VAT law to alleviate slow credit refunds China’s proposed new VAT law is undergoing a second reading for the Standing Committee of the National People’s Congress. A major pillar
Global VAT changes September 2023
Global VAT changes September 2023
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Major global Value Added Tax & Goods and Services Tax changes from 1 September 2023 Sign-up to our free VAT newsletter Or check global VAT rates in over 300 jurisdictions
France challenged on home sharing VAT loophole
France challenged on home sharing VAT loophole
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Council of State finds VAT exemption conditions incompatible with EU VAT Directive Short term home sharers on platforms such as Airbnb are likely to face tighter rules on their VAT
VAT Calc – calculations on customs procedures and VAT warehousing
VAT Calc – calculations on customs procedures and VAT warehousing
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Ending complexity of VAT treatment for customs and VAT warehousing and import reliefs Tracking and accurately calculating VAT reliefs on inward processing imports, including reexports or releases into free circulation,
Moldova cuts VAT on hotels and restaurants to 8%
Moldova cuts VAT on hotels and restaurants to 8%
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Reduction from 20% standard rate to 8% from 1 January 2024 The Moldovan Ministry of Finance’s proposal to reclassify hotel accommodation and restaurant services from the 20% standard rate to
Egypt VAT on digital services foreign providers – new guidelines
Egypt VAT on digital services foreign providers – new guidelines
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August 2023 – new guidelines of VAT obligations for non-resident providers of digital services The Egyptian Tax Authority has published English language guidelines on the VAT obligations for foreign providers
New Zealand GST-free fruit and vegetables
New Zealand GST-free fruit and vegetables
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Government proposes zero-rating of fruit and vegetables if wins election New Zealand’s Labour government has committed to zero-rating Goods and Services Tax on unprocessed fresh and frozen fruit and vegetables
Chile VAT on digital currencies
Chile VAT on digital currencies
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Internal Revenue Service confirms VAT on cryptocurrencies The Internal Revenue Service of Chile (SII) has confirmed the VAT liabilities on the trading of digital currencies such as bitcoin. Like many jurisdictions, trading
Bosnia and Herzegovina VAT registration threshold increase
Bosnia and Herzegovina VAT registration threshold increase
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Annual VAT registration threshold rises to BAM 100,000 The Bosnian and Herzegovina parliament has approved an increase in the annual VAT registration threshold. The new threshold will be BAM 100,000