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  • Switzerland | VAT changes delayed
    It has recently been announced that changes to the Swiss VAT rules that will affect importers and sellers of low value items have been delayed for an additional year. We previously reported on these changes here. Whilst all the other changes will continue to have effect from 1 January 2018, the removal of the low... Read more » The post Switzerland | VAT changes delayed appeared first on Accordan...
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  • France | Anti-VAT fraud software introduced from January 2018
    From the 1st of January 2018, some French VAT registered companies will be required to use a certified anti-VAT fraud software that meets new requirements. According to paragraph 3 bis of Article 286 of the General French Tax Code, the companies concerned will be those registered for VAT in France which record their customers’ payments... Read more » The post France | Anti-VAT fraud software intr...
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  • Spain | Several taxable services have been re-categorised from standard to reduced rate of VAT
    Effective as of Monday 26th June 2017, several taxable services provided in Spain have been re-catagorised from the standard rate of 21% to the reduced rate of 10%. These include Live cultural events (including bull fighting) and Live entertainment events (including discos). Previously, the VAT rate had been 8% but was elevated to the standard... Read more » The post Spain | Several taxable servi...
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  • Financial Director | Brexit’s effect on VAT and duty tariffs
    As the official Brexit negotiations start this week, Accordance’s CEO, Nicholas Hallam, discusses the effect Brexit is expected to have on VAT and EU tariffs in Financial Director this month. Having previously writing about VAT responsibility post Brexit and the effect of Brexit on the EU’s tax harmonisation plan,  this article explores the practical implications... Read more » The post Financial...
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  • Australia | GST low value import removal postponed to July 2018
    Australia has postponed the removal of the low value threshold for imported goods, currently AUS $1,000, such that all imports would be subject to GST from 1 July 2017 to 1 July 2018. It was intended that a vendor collection model would be implemented, such that overseas suppliers and online marketplaces i.e. Amazon and eBay... Read more » The post Australia | GST low value import removal postpon...
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  • Romania | VAT refund procedures to change for high-risk taxpayers from 01 May 2017
    Romania recently made a change in the procedure for approving Value Added Tax (VAT) refunds from VAT returns which has been published in Romania’s official journal. In brief, the change will mean that taxpayers identified as high-risk will qualify to receive a refund only after an audit. These high-risk taxpayers will be registered in a... Read more » The post Romania | VAT refund procedures to c...
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  • Nigeria | Proposal to increase VAT on Yacht, Champagne and other luxury items
    Nigeria’s Finance Minister Kemi Adeosun recently announced that the cabinet had approved the amended national tax policy. Nigeria has one of the lowest VAT rates at just 5%, which was introduced in 1994 and currently, those taxes represent only 6% of the country gross domestic product (GDP), making it one of the lowest tax to... Read more » The post Nigeria | Proposal to increase VAT on Yacht, Ch...
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  • Bulgaria | Amendment to the VAT Act
    The Bulgarian authorities recently published, in the Bulgarian official gazette, new amendments for applying the Value-Added Tax (VAT) with immediate effect. These amendments include: 1. The proportion of deductible input VAT incurred by a business. Criteria should have a time-based or quantity-based or a combination of both, which include the use of business assets. In... Read more » The post Bu...
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  • EU-Norway | VAT information reciprocity arrangement
    The European Commission has announced that negotiations between the European Union and Norway on cooperation in the field of VAT have been successfully completed. The negotiations started in June 2015 and have focused on establishing a common framework for tackling issues related to VAT recovery assistance and combating VAT fraud. However, it should be noted... Read more » The post EU-Norway | VA...
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  • Reuters | Loophole allows Uber to avoid UK tax
    Nicholas Hallam recently spoke with Reuters Correspondent, Tom Bergin, for his exclusive article about Uber’s tax position in the UK. Accordance have written extensively in the past about the consequences of Uber’s justifications that their business model means they do not have to pay UK VAT. Bergin’s article investigates the loophole that allows Uber to substantiate... Read more » The post Reute...
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  • Serbia | Amendments to VAT Law
    The Serbian Parliament has recently adopted amendments to the VAT law in order to harmonise its legislation further with the over-riding EU regulations. The main changes to take place concerned the obligation to register for foreign companies and the place of supply of services.  These new rules came into force respectively in January and April... Read more » The post Serbia | Amendments to VAT L...
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  • Latvia | VAT amendments expected 1 June 2017
    The Latvian parliament has recently adopted amendments to the Value Added Tax Law. It is expected that the amendments will be implemented on 1 June 2017. These major amendments are expected to cover the following issues: – Time frame of input VAT deduction, – Deduction of input tax for bad debts to be adjusted, –... Read more » The post Latvia | VAT amendments expected 1 June 2017 appeared first ...
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  • Accountancy Age | 5 ways business models can affect VAT liability
    Being aware of VAT obligations – and how a business model may affect them – will enable business owners to make informed decisions and minimise tax risks when determining the business structure that they adopt. Accordance have written for Accountancy Age, examining the importance of being able to justify your business’ desired operational framework from... Read more » The post Accountancy Age | 5...
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  • Spain | Immediate Supply of Information (ISI/SII) System Update
    Further to our recent news story, we are writing to provide an update of the latest developments regarding SII. How will SII will affect your business? Get in touch with us to discuss the practical implications of SII and how we can help. Contact us   Overview SII is a new real-time tax reporting requirement... Read more » The post Spain | Immediate Supply of Information (ISI/SII) System Update a...
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  • Accountancy Live | VAT responsibility post Brexit
    Following his previous article on the subject, Nicholas Hallam has written about VAT responsibilisation post Brexit. EU tax authorities now have a limited amount of time to collect money from UK businesses, given the likelihood of the UK leaving the Mutual Assistance Recovery Directive (MARD) post-Brexit. However Nick points out that tax authorities have become:... Read more » The post Accountanc...
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  • Accountancy Age | Brexit VAT health check
    When the UK leaves the EU, the cross-border VAT environment for businesses will change. Nicholas Hallam, Accordance’s CEO, has written for Accountancy Age to highlight the practical measures that businesses can take to ease the transition and minimise risk before new arrangements come into force. He outlines five key action points to set up UK... Read more » The post Accountancy Age | Brexit VAT ...
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  • UK | Use and Enjoyment provision for telecommunication services to be removed
    As outlined during the UK’s recent budget, HMRC are currently holding a consultation for comments on their plan to remove the use and enjoyment provisions that currently apply to telecommunication services for private consumers. At the moment, if a UK consumer uses or enjoys a telecommunication service outside of the EU then that supply is... Read more » The post UK | Use and Enjoyment provision ...
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  • EU | Reduced VAT rates for e-books a step closer
    The EU’s Economic and Monetary Affairs Committee has voted by a majority of 48 to 1 (with 2 abstentions) to back an EU Commission proposal for e-books to be subject to the reduced rate of VAT. As mentioned in our previous news article, supplies of physical books may be subject to the reduced rate of... Read more » The post EU | Reduced VAT rates for e-books a step closer appeared first on Accorda...
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  • Greece | Clarifications on credit notes issued for VAT charged incorrectly
    Following the introduction in 2015 of credit notes as a means of correcting certain types of transactions, the Greek Government has issued several clarifications on the matter in a circular letter published recently. The circular letter issued by the government states that credit notes can be issued in relation to transactions prior to 2015 but... Read more » The post Greece | Clarifications on c...
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  • Brazil | E-Books and E-readers exempt from VAT & other taxes
    The Brazilian supreme court recently confirmed a decision to remove taxes including VAT on supplies of e-books and e-readers. While e-books are taxed at a standard VAT rate in the country, physical books are exempted (i.e. not subject to VAT) so there is a discrepancy much like in the EU. A trial began in September... Read more » The post Brazil | E-Books and E-readers exempt from VAT & other tax...
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  • Iceland | VAT rate reduction
    During the presentation of its fiscal plan for 2018 – 2020, Iceland has announced its intention to reduce the standard VAT rate from 24% to 22,5% with effect from 1 January 2019. The measure is part of a broader plan presented by the Minister of Finance and Economic Affairs aimed at boosting investments in infrastructure... Read more » The post Iceland | VAT rate reduction appeared first on Accor...
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  • Estonia | Higher VAT registration threshold for small businesses
    In February 2017, we announced that Estonia had requested an authorisation to raise its VAT registration threshold from EUR 18,000 to EUR 40,000. Following up to the request, the Council of the European Union has given the go ahead to Estonia’s government to increase its VAT registration threshold for small business to EUR 40,000 in... Read more » The post Estonia | Higher VAT registration thresh...
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  • France | Update of the states for which a fiscal representative is required
    The French VAT legislation requires taxable persons that have the obligation to register for VAT but are neither established nor have a fixed establishment in the European Union to appoint a fiscal representative. However, countries that have concluded mutual assistance agreements aimed at recovering tax claims with France are included on a “white list” meaning... Read more » The post France | Up...
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  • ECJ rules in BFI case relating to cultural activities
    The European Court of Justice (ECJ) has ruled in the case C-592/15 British Film Institute (BFI) that the provisions related to exemption for cultural activities mentioned in the old Sixth VAT Directive and the new EU VAT Directive 206/112/EC are not directly applicable and tax payers should follow the legislation as it is transposed in... Read more » The post ECJ rules in BFI case relating to cul...
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  • UK | HMRC’s Call for Evidence on the Collection of VAT for Online Retailers
    In the age of the digital economy there has been a large increase in online shopping in the UK in recent years. Many of the goods sold to UK consumers are bought from overseas sellers using online marketplaces. To cope with demand and ensure speedier deliveries, many of these overseas sellers are now storing their... Read more » The post UK | HMRC’s Call for Evidence on the Collection of VAT for ...
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  • Italy | New quarterly VAT return for 2017 confirmed by the tax authority
    After a publication from the Italian tax authorities on 26/03/2017, it has been now confirmed that a new quarterly VAT return (Comunicazione IVA trimestrale) must be submitted in 2017 with first deadline on 31/05/2017. Everyone must submit this new return with the only difference that quarterly filers must submit only one form for the quarter,... Read more » The post Italy | New quarterly VAT ret...
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  • UK | VAT measures announced in Budget
    The UK spring budget has seen the Chancellor announce new measures for tackling VAT avoidance and evasion, together with an increase in the registration and deregistration thresholds. VAT Avoidance One of the measures is in regards to the removal of the use and enjoyment provisions for business to consumer mobile phone services. The rationale for... Read more » The post UK | VAT measures announce...
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  • Accountancy Age | The VAT agenda in the European Union
    Following the release of the EU’s White Paper on the Future of Europe, Nicholas Hallam has written for Accountancy Age about the Commission’s VAT agenda. He notes that while ever closer union is, as it has always been, top of the agenda for the EU Commission, there is a shift towards an openness to alternatives... Read more » The post Accountancy Age | The VAT agenda in the European Union appeare...

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