Increase to €800,000 annual threshold for cash-based VAT scheme Germany is raising the sales threshold for small businesses to join the cash-based VAT scheme. This offers eligible tax payers to only settle VAT due based on actual income received as opposed to that invoiced –
2024 Increase in dispatches and arrivals of goods reporting thresholds The Czech Statistical Office has announced a rise in Intrastat thresholds from 1 January 2024. The thresholds will be as: Arrivals: will increase to CZK 15 million per annum (previously CZK 12 million) Detailed reporting
Intrastat reporting threshold to increase 1 January 2024 Estonia has raised its Intrastat reporting thresholds for 2024 as follows Arrivals: increased to €700,000 per annum from €400,000 Dispatches: increased to €350,000 per annum from €270,000 Read more in our Estonia VAT guide. Check EU intrastat
Confirmation of business tax to non-resident digital service providers Taiwan has updated its Value-added and Non-value-added Business Tax law to confirm its Business Tax to certain non-resident providers of digital or electronic services to consumers. This includes “Foreign enterprises, institutions, groups, and organizations that do
OECD figures show other taxes’ growth outstrips VAT; but is this because of attractions of VAT during crises? The OECD’s annual “Revenue Statistics 2023: Tax Revenue Buoyancy in OECD Countries” shows that VAT’s growth in nearly 40 countries has slowed. The average share of VAT/GST/Sales
VAT rise shadows Switzerland’s rise to fund welfare payments The European Principality of Liechtenstein is to raise VAT rates from 1 January 2024 as follows: Standard rate from 7.7% to 8.1%; Reduced rate from 2.5% to 2.6% Hotel accommodation rate from 3.7% to 3.8% This
Federal Ministry of Finance latest annual tax guide issued The annual VAT guide has been issued by the German Finance Ministry (Bundesministerium der Finanzen BMF) – this one covering 2022. It includes: VAT Act; VAT Implementation Ordinance; VAT Application Decree; VAT System Guidelines; and excerpts
Temporary energy VAT cut introduced with spiking inflation in 2022 is to end 1 March 2024 – 1 month early The German government plans to end the temporary reduction from 19% to 7% for domestic energy on 31 December 2023 have been modified by the
2024 Finance Bill introduces rage of indirect tax measures The Tunisian Ministry of Finance has published the 2024 Finance Law to introduce a range of indirect tax measures. These include: VAT returns to be filed by 20th of the month rather than as today by the
