Legislator endorses continuation of anti-VAT fraud measure and Quick Reaction Mechanism until 31 December 2025 The European Union Parliament has voted to retain the VAT reverse charge mechanism to help reduce the VAT Gap – amount of uncollected EU VAT. The reverse charge is an
Countries shift VAT reporting from suppliers to customers to reduce VAT fraud – General & Domestic Reverse Charge by country In attempt to reduce the VAT Gap – the shortfall of VAT revenues compared to expected receipts – EU and other states apply the Reverse
Rollover of reverse charge to fight fraud until December 2025 The European Commission is proposing to allow member states to continue to use optional VAT reverse charge measure to fight fraud. It intends to rollover the existing measures until 31 December 2025. This includes application
New German government rekindles interest in VAT regime reforms shifting the place of taxation on B2B intra-community supplies of goods to destination-based taxation The new German coalition government has committed to supporting a stranded EU VAT regime reform which would shift the obligation to charge
E-tržby or EET certified VAT cash registers The Czech Republic (Czechia) has suspend the rollout of its online VAT cash registers until January 2023 due to the ongoing COVID-19 emergency. The implementation of certified registers E-tržby or EET commenced in 2019. It started with hotels
Hype? Or is an immutable distributed ledger technology the solution to missing EU VAT revenues? The VAT gap of €136 billion per annum and costly complexity of the compliance rules begs for a technological leap. Is blockchain, made (in)famous by cryptocurrencies, the answer? The appeal
From 1 January 2022, retailers subject to the 2019 internet-linked cash register transaction reporting – registratore telematico – face new obligations. This applied to all retailers, resident and non-resident, with a turnover above €400,000 per annum. The new requirement oblige eligible retailers to upgrade their
Grand plan may now fall to side as VAT in the Digital Age reforms progress The proposed grand solution to tackle over €50billion in EU VAT fraud, the Definitive VAT System, is in trouble. The plan to switch from an origin to destination-based VAT on
Ends withholding tax requirement The Russian Federal Law has been amended from 1 October 2021 to introduce the Value Added Tax reverse charge on supplies made by non-residents to Russian businesses within the Russian Federation. The changes were included in Federal Law No. 305-FZ from
Can the definitive VAT system or other reforms close fraud gap? The European Parliament has reviewed a range of measures to close EU VAT Gap – the difference between forecast VAT revenues versus actuals. This was as a formal European added value (EAV) assessment, to
