Long standing data availability & accuracy challenges take on new imperative with the proliferation of VAT digitalisation and live transaction reporting The whirlwind of global e-invoicing and digital reporting mandates
2023 budget restates aim to review VAT treatment of banking, fintech and insurance In yesterday’s annual Budget, the UK Chancellor confirmed ongoing work to review the current VAT exemption for
First wave Belgian tax reforms, including proposals to consolidate VAT rates, dropped Failure to gain political support by the Belgian Finance Minister, Vincent Van Peteghem, to his ‘first phase tax
VAT records requirements for sellers, deemed supplier marketplaces and Intermediaries for on-demand VAT audit requests –SAF OSS XML schema The One Stop-Shop (OSS) and Import One Stop-Shop (IOSS) VAT returns
Australia extended its 10% Goods and Services Tax (GST) to electronic or digital services provided by foreign sellers or marketplaces from 1 July 2017. This includes marketplaces becoming the deemed
E-invoicing and live digital reporting mandates mean VAT and GST must be calculated accurately in real-time to avoid blocked invoices, audits and potential losses. How to rise to the challenge
New draft law indicates foreign providers will face digital services VAT responsibilities In January, Chinese draft VAT law was issued. Aside from consolidating many existing laws, it includes a shift
Facilitating marketplaces services due even when non-taxable supplies British Columbia has confirmed services provided by to facilitate the sale or provision of non-taxable services are still subject to Provincial Sales
Withdrawal of CHF100,000 distance selling VAT registration threshold Switzerland is to follow the EU and many other countries by ending the VAT registration threshold for non-resident e-commerce sellers to consumers.
EP’s member services lays out procedures for ViDA progress ahead of 17 Oct 2023 ECOFIN vote The European Parliamentary Research Service has set out some of the issues in the
ECJ confirms 2011 implementing regulation of the European Council specifying that the operator of a platform, such as OnlyFans, is presumed to be the supplier of the services provided –
Northern Ireland Protocol replacement removes most customs controls; gives back many reduced VAT and excise rates powers to UK; and introduces ‘Stormont Brake’ to Northern Ireland Assembly to block EU
From 1 September 2023, e-fatura invoices must include QR Codes The Turkish Revenue Authority is to require taxpayers to include Quick Response Codes (QR Codes) on the following tax documents:
UK may gain more powers over goods VAT rate setting under Northern Ireland Brexit renegotiation The UK government and EU are in advanced discussions to renegotiate the Northern Ireland Protocol.
EC paves way for increase from €65,000 to €85,000 from 1 January 2023 taking over 63,000 taxpayers out of the VAT regime The European Commission and European Council (20 Feb
Spain publishes draft e-invoicing regime: decentralised CTC with public portal or certified third-party agent submissions Spain’s State Tax Administration Agency (Agency Estatal de Administracion Tributaria) has updated the draft draft
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