1 January 2025: Romanian SAF-T monthly transaction reporting extended to VAT registered non-residents The Romanian National Agency for Fiscal Administration (ANAF) is extending its monthly Standard Audit File for Tax (SAF-T) report to foreign, VAT-registered businesses. This will apply from 1 January 2025. Reports are
Aug 2024 direct deductions on B2C transactions The Somali Ministry of Finance has imposed a type of Sales Tax split payments from 18th August 2024. The Somali Sales Tax rate is 5%. Previously, tax collecting businesses reported Sales Tax takings in a periodic return. However,
1st October 2024: Preliminary hearings of certain VAT, excise and customs cases redirected to General Court The EU Parliament and Council of the EU have agreed to that VAT cases may initially be heard at the European General Court to free-up time for the Court
Baltic state to increase threshold from €45,000 to €55,000 – fifth highest in the EU Lithuania has drawn up legislation to increase the annual sales threshold for VAT registration. From the 1 January 2025 it will increase from €45,000 to €55,000. This would make it
Deducting VAT in EU VAT returns: complexity of rules; varying application by member states; partial deductibility; timings of deductions; and administrative obligations In a crowded field of complexity, VAT deductibility is most challenging area of EU (and global!) compliance. The premise of VAT neutrality, businesses
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
