VAT TV December 2023 news
VAT TV December 2023 news
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Want to join the VAT TV subscription list? Sign-up here. Dec 2023 global news & views
Germany raises cash accounting VAT threshold
Germany raises cash accounting VAT threshold
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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 –
Czech raises 2024 Intrastat thresholds
Czech raises 2024 Intrastat thresholds
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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
Taiwan VAT foreign digital services; business tax update
Taiwan VAT foreign digital services; business tax update
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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
Global VAT’s decline?
Global VAT’s decline?
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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
Liechtenstein raises VAT to 8.1% January 2024
Liechtenstein raises VAT to 8.1% January 2024
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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
German VAT manual
German VAT manual
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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
VAT TV November 2023 news
VAT TV November 2023 news
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Want to join the VAT TV subscription list? Sign-up here. Nov 2023 global news & views
Germany brings forward ending of energy 7% VAT rate
Germany brings forward ending of energy 7% VAT rate
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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
Tunisia 2024 VAT measures
Tunisia 2024 VAT measures
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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