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EU EC Sales List replaced by Digital Reporting Requirements 2028 – VAT in the Digital Age

12 December 2022 in

Digital Reporting Requirements

2028 near-live reporting of EU Intra-community supplies replaces monthly EC Sales List The new Digital Reporting Requirements (DRR) , proposed as part of the EU VAT in the Digital Age package, will retires the EC Sales List (ESL) requirement from 1 January 2028. Instead of ECL’s,

UK – Northern Ireland and EU Intrastat thresholds unchanged for 2023

27 November 2022 in

Customs Union

HMRC confirms reporting thresholds for goods moving between EU and Northern Ireland will remain unchanged for 2023 The Northern Ireland to EU Intrastat thresholds for 2023 will remain at the 2022 levels of: £500,000 for arrivals £250,000 for dispatches The delivery terms threshold remains at

Intro to VAT Advisor: single cross-border transaction calculation, invoicing & reporting

3 November 2022 in

Chain supplies

Watch VAT Advisor deliver instant calculations, draft invoice and VAT return reporting for any complex cross-border transactions Set-up your FREE trial VAT Advisor account Watch more VAT Advisor videos covering the basics, B2B chain supplies; the reverse charge; B2C goods and digital services; how to

Italy updates companies subject to VAT split payments

29 October 2022 in

EU VAT

Anti-VAT fraud VAT splitting measure The Italian Department of Finance has extend the list of companies which suppliers must apply VAT split payments on. This requires suppliers to pay the VAT element of their sales invoice into special, blocked VAT bank accounts with the tax

EU VAT Non-Fungible Tokens (NFT’s) as digital services?

1 October 2022 in

cryptocurrency

Are NFT crypto assets transactions subject to EU digital services VAT rules? Update: the Committee has produced its working paper on EU VAT and NFT’s in March 2023 Non-Fungible Tokens (NFT’s) trading is rising in popularity raising the question is they are liable to

EU Quick Fixes – VAT Forum Report

30 September 2022 in

EU VAT

Review of 2020 4 Quick Fixes finds room for practical improvements The European Commission’s VAT Forum has produced a review of the 2020 VAT Quick Fix measures. These were introduced to effect four changes to the rules around B2B intra-community (within EU borders) VAT transactions to

Cyprus VAT cuts on fuel, electricity and petrol

23 September 2022 in

Cyprus

9.6% August inflation prompts rollover of petrol VAT cut The VAT cut on retail petrol in Cyprus has been extended to 15 January 2023. They were due to end at the end of this month. Prior cuts due to end August 2022 This inflation burst

UK continues Northern Ireland border check freeze despite EU infringement proceedings

19 September 2022 in

Brexit

UK informs EU it will continue not to impose checks on goods movements between Great Britain and Northern Ireland following EU legal warning; signs of settlement by April 2023 Following the EU’s launching of a third set of Northern Ireland Protocol infringement proceedings in July,

EU-UK Brexit infringement procedures 1-month extension

9 August 2022 in

Brexit

EU extends Brexit infringement deadline to 15 September. EU latest legal action against UK on failure to fully implement Northern Ireland Protocol: Import One-Stop Shop e-commerce VAT return; customs checks of goods between NI and GB; and excise measures The European Commission has started four

EU VAT Expert Group reviews VAT in the Digital Age reforms

29 June 2022 in

Continuous Transaction Controls

European Commission group debates question 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 a range of questions arising from the proposed VAT in the Digital Age reforms.

Tag: EU VAT