Standard Audit File for Tax SAF-T Harmonised transactional data schema for simplified exchange with tax authorities The countries below have implemented (or propose) the OECD’s Standard Audit File for Tax (SAF-T). This is an harmonised XML schema of company transaction data from accounting records for
The €71 billion issue: EC progressing talks to reform VAT relief on donations of goods The European Environmental Bureau estimated €71 billion of unsold electronics and clothing are destroyed each year in the EU. This is unsold goods dumped into landfill because this is cheaper
Consultation on introduction of reverse charge on B2B sales by non-residents 1st April 2025 The South African National Treasury has opened a consultation until 31 August 2024 on ending the obligation on non-resident providers and digital platforms to charge VAT on digital services to VAT-registered businesses.
1st September 2024 5% tax on online streaming services The Canadian TV and Telecoms Commission has announced a 5% streaming tax. This will be effective from 1 September 2024. The levy is chaged at 5% on Canadian-generated revenus with online streaming TV, video, music and
Artificial Intelligence automating optimising tax code mapping in tax engines and ERP’s Tax codes, short digit and numeric codes, provide the information tax engines, ERP’s or accounting systems need to correctly identify the right VAT, GST or sales tax rates and reporting for any transaction.
Public consultation on 2024-introduced import VAT mechanism In January 2024 new France import VAT deferment rules were introduced. This enabled regular importers to boost their cash flows by avoiding import VAT payment at the point of goods clearance into France. A new public consultation has
5% import VAT for foreign goods sold online to Taiwan consumers Taiwan has reconfirmed the 5% import Value Added Tax charge on goods bought online and imported to consumers. There is a de minimus limit of TWD 2,000, below which there is now VAT due.
Harmonised sales tax compliance rules across participating states State sales taxes in the US are under the control of the relevant state, leaving a huge disparity in compliance obligations and rules. The Streamlined Sales and Use Tax Agreement (SSUTA) is an attempt by over 20
Parliament comments on EC IOSS threshold removal proposal The European Parliament has produced a briefing on the European Commissions proposals for e-commerce import VAT reforms. This includes: Removal of IOSS €150 threshold reporting limit Extend deemed supplier obligations for marketplaces facilitating consignments exceeding €150 Removal
European Commission issues evaluation of voucher VAT rules The European Commission (EC) has issued its review of the application of VAT rules on the use of vouchers across the 27 member states. This follows the introduction of harmonisation VAT voucher rules in January 2019. The
