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EU published VAT in the Digital public consultation results

29 June 2022 in

Spring public consultation backs EU VAT reforms and harmonisations with limits The EU published submissions and summaries of its Spring 2022 public consultation on EU VAT in the Digital Age

EU VAT Digital Reporting Requirements (DRR) e-invoice harmonisation update

27 June 2022 in

European Commission seeks to harmonise digital Continuous Transaction Controls ‘CTC’ options for VAT e-invoice and real-time reporting. VAT Directive Amendments by 7 December 2022 Read our ViDA reform predictions for e-invoicing and

UK VAT Gap shrinks to 7% of revenues as COVID aid ends

25 June 2022 in

The UK 2020/21 VAT Gap was £9billion, down from £12.5 billion as COVID-19 deferred VAT scheme unwinds The difference between the UK expected and actual VAT reveipts has shrunk according

EU publishes details of DAC7 2023 digital platform reporting obligations

24 June 2022 in

Technical framework for exchange of marketplace transaction data exchanges to help tax authorities detect VAT fraud The European Commission has issued consultation details of technical data requirements for the Directive

VAT cuts on energy & food as inflation hits record 8.1% in May 2022

24 June 2022 in

Eurozone energy inflation 39% May 2022; temporary VAT subsidies for domestic power, foods and other basics A fast-growing queue of European countries are emerging to cut their already reduced VAT

Spain further electricity VAT rate cut to 5% as inflation hits 27-year high

23 June 2022 in

Spain

Domestic electricity rate to be cut from 10% to 5% as inflation hits 8.7% in May Prime Minister Pedro Sanchez announced in Parliament on 22 June a plan to half

Lithuania to cut food VAT to 0%

22 June 2022 in

Lithuania

Inflation hits 18.5% in May 2022 prompts August VAT rate cut proposal The Lithuanian Seimas Parliament is reviewing legislation to temporary cut the VAT rate on foods from 5% to

Single VAT registration in the EU – update

22 June 2022 in

Extension of OSS return for cross-border B2C and B2B goods and services transactions as part of VAT in the Digital Age reforms. 3 options for transfers of own goods challenge

Ukraine ends VAT exemption on imported vehicles

22 June 2022 in

Ukraine

April 2022 suspension of import VAT ends on 1 July 2022 Ukraine is ending the suspension of imports VAT on many imports, including vehicles, from 1 July 2022. This will

EU review of VAT reforms under French Presidency

19 June 2022 in

As the six-month French Presidency of the Council of the EU ends, it reviews progress to date on a range of VAT measures France took up the rotating Presidency role

EU VAT Expert Group reviews VAT in the Digital Age reforms

18 June 2022 in

Last round before proposals on: Single VAT registration in EU; Digital Reporting Requirements and e-invoices; and Platform Economy and VAT The European Commission’s VAT Expert Group (‘VEG’) reviewed this month

Belgium extended VAT return deadlines

17 June 2022 in

Belgium

VAT returns and Intrastat filings delayed but now changes to payment deadlines Summer VAT returns and Intrastat filings may be delayed over the summer months according to the Federal Public

Slovakia IS EFA e-invoice proposal 2024 – update

17 June 2022 in

Slovakia

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

Ecuador SFEP VAT e-invoicing – update

16 June 2022 in

Ecuador

Latest wave of taxpayers mandated for e-invoicing from 29 November 2022 Since 1 June 2021, Ecuador’s SRI (Internal Revenue Service of Ecuador) expects all transactions over approx USD 1,000 to

IMF advises against anti-inflation VAT rate cuts

16 June 2022 in

Global

Governments would be better to use revenues for more targeted welfare support The International Monetary Fund last week called for governments to avoid temporary Value Added Tax rate cuts on

Mexico CFDI e-invoicing – 4.0 delayed till 2023

15 June 2022 in

Mexico

Upgrade to 4.0 CFDI delayed six months until 1 January 2023 The latest version of CFDI e-invoicing system has been postponed until the start of 2023 by the Mexican Tax

UK VAT and Northern Ireland Protocol Bill 2022

14 June 2022 in

United Kingdom

UK tables legislation to override VAT and customs agreement in Brexit Northern Ireland Protocol On 13 June, the UK government presented domestic legislation, Northern Ireland Protocol Bill, to give it

Portugal SAF-T (PT)

13 June 2022 in

Portugal

Non-resident business with a Portuguese VAT registration must submit monthly invoices under SAF-T PT from Jan 2023 Foreign businesses producing their Portuguese invoices using certified software are obliged from 1

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