ECON votes for 1-year delay to 3-pillar EU VAT in the Digital Age reforms 15 Nov 2023 update: EU ViDA delay to political agreement until 2024. This week, the EU Parliament’s Committee on Economic and Monetary Affairs (ECON) voted on and approved a report proposing
E-commerce marketplaces jointly and severally liable; due diligence requirements Belgium is considering a proposal to make digital platforms and marketplaces jointly and severally liable for their third-party sellers B2C transactions. This could take effect from 1 January 2024 in a Bill being drawn up. Belgium would
1.5% DST on digital and electronic transactions Jan 2021 Sierra Leone introduced its Digital Services Tax (DST) from 1 January 2021. This was implemented via the 2021 Finance Act. The tax is levied on advertising, search and subscription services irrespective of the country of residence
Following Brexit, UK’s Retained EU Law Act 2023 ends certain reliance on EU-derived rulings on VAT The UK will cut certain links to EU VAT derived legislation from 1 January 2024. This is contained within the Retained EU Law Act 2023 (‘the Act’) which, following.
Finance Ministry targets extra €2 billion VAT collections from digitalisation of reporting The Greek Finance Ministry is aiming to improve on the nearly 20% VAT gap losses in tax revenues from a range of measures. Greece is looking to emulate the success of Poland and
Austria to relaunch its SAF-T regime March 2024; was one of the earliest to adopt the OECD’s format for exchanging data with the tax authorities Austria’s is relaunching its version of the OECD’s Standard Audit File for Tax (SAF-T). This is expected to be launched
New VAT law to alleviate slow credit refunds China’s proposed new VAT law is undergoing a second reading for the Standing Committee of the National People’s Congress. A major pillar is how to improve the poor record of VAT credit refunds for taxpayers as well
Poland refers Carbon Border Adjustment Mechanism (CBAM) mechanism to ECJ; CBAM to impose costs on imported goods with heavy emissions The Polish government is to challenge the introduction of the EU’s CBAM green policy since it believes it will lead to higher food prices and
