EU Finance Ministers debate 3 ViDA questions at ECOFIN 16 June 2024 The EU’s 3-pillar reforms of the VAT regime, VAT in the Digital Age, is to be reviewed by
Extensions for final deadline on implementation of electronic invoicing The 1 January 2023 deadline for a range of taxpayers to join the Ministry of Finance’s mandatory e-invoicing regime has been
Ministry of Finance phases in 2024-28 pre-clearance B2B e-invoices to tackle fictitious invoice fraud The Israeli Ministry of Finance is progressing a Continuous Transaction Control (CTC) based electronic invoicing regime. The
New incentives to adopt E-Tax System Thailand’s Revenue Authority has approved a number of incentives for taxpayers to fully adopt the E-Tax System, which provides for digital reporting of invoices
Single national sales tax levy propositions to replace state income, payroll, state sales and gift taxes The US Congress’ research service has floated a proposal for a 2025 single national
Tourist operators to gain VAT cut until 30 June 2027 Russian tour operators are to be included in temporary VAT zero-rating extended to tourism services last year. The Ministry of
Raised thresholds for declarations for EU intra-community dispatches and arrivals to Denmark Denmark has raised its Intrastat reporting thresholds to the following levels: Arrivals DKK 22m (previously 13m); and Dispatches DKK
HM Treasury – how proposed EU ViDA overlaps and complicates Northern Ireland’s post-Brexit position in EU VAT regime for goods The UK’s HM Treasury has issued a policy paper discussing how
New draft VAT Law consolidates existing rules, adding major reforms to bring into line with OECD guidelines China has issued a new draft VAT Law to consolidate a number of
Package of economic support includes cut to 6.85% with more reductions to come The Governor of Rhode Island state, Dan McKee has proposed a cut to the sales tax rate
Extension of reverse charge for certain domestic and non-resident transactions The Spanish General State Budget Law for 2023 has extended the use of the reverse charge, which shifts the VAT
ViDA – major progress needed on Single VAT Registration and Platform Economy reforms in 2023 for 2025 launch. Significant consensus on more complex Digital Reporting Requirements also required for 2028
Business have for decades been let-down by VAT automation. Systems adapted from US sales tax engines fail to deal with the granular demands of global VAT. This means complex and
20th country to adopt the European Union currency; new VAT thresholds Croatia became the 20th country to adopt the Euro currency on 1 January 2023. It replaced the kuna (HRK),
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