Accordance

Category: Content
Type: Blog Article

Generated 2 days ago

New blog articles detected

  • 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...

Accordance

Category: Content
Type: Blog Article

Generated 1 week ago

New blog articles detected

  • 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...

Accordance

Category: Content
Type: Blog Article

Generated 1 week ago

New blog articles detected

  • 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...

Accordance

Category: Content
Type: Blog Article

Generated 1 week ago

New blog articles detected

  • 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...

Accordance

Category: Content
Type: Blog Article

Generated 1 week ago

New blog articles detected

  • 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...

Accordance

Category: Content
Type: Blog Article

Generated 1 week ago

New blog articles detected

  • 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 ...

Accordance

Category: Content
Type: Blog Article

Generated 3 weeks ago

New blog articles detected

  • 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...

Accordance

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • 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...

Accordance

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • 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...

Accordance

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • Belgium | Quarterly VAT prepayments will be ended from 1 April 2017

    The Belgian Minister of Finance, Johan Van Overtveldt has announced that taxpayers currently making quarterly prepayments for Value Added Tax (VAT) will no longer need to do so from 1 April 2017. Instead, there will be a requirement for one prepayment for the 4th quarter due on 20th December which is equal to the VAT... Read more » The post Belgium | Quarterly VAT prepayments will be ended from 1...

Accordance

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • Luxembourg | Tax reform 2017 and VAT changes effective 1 January 2017

    The Luxembourg Parliament has introduced new rules relating to the penalties which can be imposed for errors in a VAT return. These are as follows: Fixed penalties These can apply when there has been non-compliance with VAT obligations (i.e. VAT returns not submitted, payments are late, etc). Previously, fixed penalties were limited to a maximum... Read more » The post Luxembourg | Tax reform 201...

Accordance

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • Estonia | To raise domestic VAT registration threshold

    At the request of the Estonian government, the European Commission is proposing to give Estonia authorisation to apply a higher VAT registration threshold for local small business. The rise is expected to come into effect from the 1 January 2018 and will mean VAT registration is not required for businesses with a turnover of €40,000... Read more » The post Estonia | To raise domestic VAT registra...

Accordance

Category: Content
Type: Blog Article

Generated 2 months ago

New blog articles detected

  • VAT implications for Uber & the ‘gig economy’

    Back in July 2016, Uber taxi drivers had a case heard in the London Central Employment Tribunal which concerned whether in the UK Uber drivers should be: Seen as employees of Uber; or deemed to be self-employed and hence working independently The decision was handed down in October 2016 with the decision being that the... Read more » The post VAT implications for Uber & the ‘gig economy’ appeared...

  • European Court of Justice (ECJ) rules tax authority cannot refuse intra-community exemption where the customer is not registered on VIES

    On the 9 February 2017, the CJEU ruled on the case C-21/16 Euro Tyre BV Background Euro Tyre is a Portuguese branch of a Dutch Company, Euro Tyre BV. The dispute concerned multiple intra-community supplies made by Euro Tyre between 2010 and 2012 to a group company, Euro Tyre Distribución de Neumáticos (Spanish established company).... Read more » The post European Court of Justice (ECJ) rules tax...

Accordance

Category: Content
Type: Blog Article

Generated 2 months ago

New blog articles detected

  • France | Audits on VAT credit refunds applications

    Article 17 of the amended finance law for 2016 has given to the French tax authorities power to conduct audits of taxpayer claims for VAT credit refunds at their premises. Formerly, the French Tax Authorities could initiate only two procedures: an accounts audit and a documents audit. It is hoped this new process will help... Read more » The post France | Audits on VAT credit refunds applications...

  • France | VAT deduction on petrol costs

    Over the next five years, the amount of VAT recoverable on petrol costs will progressively be brought into line with the regime for diesel. For passenger vehicle, the deductibility will be of 10% in 2017, 20% in 2018, 40% in 2019, 60% in 2020 and 80% in 2021.  For utility vehicle, the deductibility will start... Read more » The post France | VAT deduction on petrol costs appeared first on Accorda...

  • France | Introduction of the reverse charge mechanism on import VAT

    The amended finance law for 2016 allow for all taxpayers to benefit from the reverse charge of the VAT at importation. From 01/01/2017 importers can import goods without payment of the VAT to customs at the time of import, instead the import VAT will be reported in the VAT return. To benefit from this new... Read more » The post France | Introduction of the reverse charge mechanism on import VAT ...

Accordance

Category: Content
Type: Blog Article

Generated 2 months ago

New blog articles detected

  • Saudi Arabia | New VAT reform approved

    The Saudi cabinet has given its final approval for an agreement on VAT, support by the Gulf Cooperation Council (GCC) member states which will come into effect in the first quarter of 2018. Following last June’s arrangement from the 6 GCC member states (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates), VAT... Read more » The post Saudi Arabia | New VAT reform approved app...

  • Bahamas | The VAT Filing and Payment Deadline changes from 01 January 2017.

    On the 22 November 2016, the Department of Inland Revenue of Bahamas made an amendment to the Value Added Tax (VAT) Act. It introduced a change in the deadline for filing VAT returns and making payments for VAT. The new resolution took effect from 1 January 2017 and prescribed that the new deadline for filing... Read more » The post Bahamas | The VAT Filing and Payment Deadline changes from 01 Ja...

  • Uruguay | Extension of VAT rate reduction for electronic payments

    The Economy and Finance Ministry in Uruguay has issued a new Decree which extends the reduction of the VAT rate in accordance with Law No. 19210. The new law prescribes that transactions paid via electronic means (such as bank cards) will be taxable at a reduced rate 2% lower than the standard rate. The eligible... Read more » The post Uruguay | Extension of VAT rate reduction for electronic paym...

  • UK | Import VAT threshold for personal gifts increases to £39 from 1 January 2017

    Her Majesty’s Revenue and Customs (HMRC) has published a revalorisation for the import VAT threshold as applied to low value goods which are sent between private individuals. HMRC announced an amendment of the Value Added Tax (Small Non-Commercial Consignments) Relief Order 1986, in which they prescribe an increase in the gift value threshold from £34... Read more » The post UK | Import VAT thres...

  • Financial Director | Tax after Trump

    Ahead of Trump’s inauguration, Accordance’s CEO, Nicholas Hallam, has written for Financial Director exploring the 45th USA President’s approach to VAT and international tax policy. Historically, VAT has been a controversial subject in American politics and Trump argues against the supposed ‘unfairness’ of the indirect tax. Trump appears to see VAT as a mechanism that has been... Read more » The ...

  • Romania | VAT registration form is revoked from February 2017

    On the 13 January 2017, the Official Journal of Romania published in Part I, No. 40, the executive order No. 3698/2015 from the National Agency for Fiscal Administration. This order concerns itself with various forms for tax registrations purposes. This order announced that from the 01 February 2017, Form 088, which in English signifies “Affidavit... Read more » The post Romania | VAT registratio...

  • Spain | To introduce Immediate Supply of Information (ISI) System, from July 2017

    The Spanish Government has passed the Royal Decree 596/2016 which introduces more stringent laws aimed towards corporate taxation and increasing tax revenue. Whilst it is yet to be finalised officially, the government has also announced its approval of the Second Royal Decree, largely concerning VAT and introduction of the ISI system (SII in Spain). This... Read more » The post Spain | To introdu...

  • Intrastat update | 2017 changes

    Intrastat is a mandatory reporting requirement for businesses trading cross border within the European Union. It is used to collate statistical information on intra-community trade between Member States of the European Union. The obligation to submit an Intrastat return is required if a business trading cross border exceeds Intrastat thresholds set by every Member State.... Read more » The post I...

  • UK | VAT repayment claims by VAT groups

    The UK operates VAT grouping rules which results in 2 or more entities having the same VAT number as long as certain conditions are met. A VAT group is considered to be a single taxable person and therefore one member of the group is designated as the “representative member” for the group. Recently, the Upper... Read more » The post UK | VAT repayment claims by VAT groups appeared first on Accord...

  • Italy | No VAT rate changes due at start of 2017

    In 2015 Italy set out a new Stability Law that provided for VAT rate increases on 1 January 2016, 2017 and 2018 respectively – more details can be found here. However, it was noted that these changes would only take place if certain budgetary targets were not met. As a new year rolls around, it... Read more » The post Italy | No VAT rate changes due at start of 2017 appeared first on Accordance.

Accordance

Category: Content
Type: Blog Article

Generated 7 months ago

New blog articles detected

  • France to increase VAT rate on food?

    The French Treasury has proposed a range of measures to tackle rising obesity in the country. The proposals include either a new tax or an increase in the current rate of VAT on unhealthy foods. In France currently the reduced rate of 5.5% applies generally to food products, whereas only limited items such as caviar,... Read more » The post France to increase VAT rate on food? appeared first on A...

  • Norway: New VAT return and import VAT treatment from 1 January 2017

    Norway will be launching a new, simplified and improved VAT return form. The new VAT return will be called the “Skattemelding for merverdiavgift” and comes into effect from 1 January 2017. The reason for needing a new VAT return is that instead of paying import VAT to the customs authorities, from 1 January 2017 responsibility... Read more » The post Norway: New VAT return and import VAT treatmen...

Accordance

Category: Content
Type: Blog Article

Generated 7 months ago

New blog articles detected

  • Egypt introduces VAT

    It has been confirmed that Egypt officially introduced VAT with effect from 9th September 2016, at the rate of 13%. Given this sudden imposition of the tax, the tax authorities there have confirmed that a three-month transition period will be applied to allow businesses to begin to comply. As a result, businesses should not be... Read more » The post Egypt introduces VAT appeared first on Accorda...

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