Richard Asquith - vatcalc.com

EU VAT in the Digital Age – states call for more time and flexibility

16 February 2023 in

e-invoicing

EU Finance Ministers broadly agree with ViDA proposals at ECOFIN. But requests for delays on e-invoicing timetable and more consideration on platform reforms EU Finance Ministers today provided the European Commission’s proposed VAT in the Digital Age reforms. At the monthly Economic and Financial Affairs

Sweden progresses mandatory e-invoicing

13 February 2023 in

e-invoices

Tax Agency requests investigation to review mandatory electronic invoice for B2B and G2B Sweden is progressing its review of e-invoicing options with stakeholders in the sector. Skatteverket (tax agency), Bolagsverkey (company registration body) and Digg (government digital agency) have requested government to start an investigation

Canada to exempt crypto mining from GST/HST

12 February 2023 in

Canada

Income for mining or forging of digital currencies or NFT’s (cryptoassets) will not be subject to 5% federal GST/HST The Canadian Revenue Agency has proposed exempting income received from creating, or ‘mining’, Cryptocurrencies. This follows EU Cryptocurrency VAT proposals on mining, wallet services and payment

Switzerland progresses 4% streaming tax via VAT return

11 February 2023 in

Digital Services Tax

Swiss Federal Tax Administration to use VAT returns for new 4% levy on foreign TV streaming voted for in 2022 referendum Following 15 May 2022 referendum vote to impose a foreign streaming levy, the Swiss Federal Tax Administration has proposed to base the tax calculations

Argentina e-commerce gig & sharing marketplace VAT deemed supplier – 2023

9 February 2023 in

Argentina

April 2023 – digital e-commerce, gig & sharing marketplace take on full VAT liability for smaller traders. The Argentina Federal Tax Authority is to oblige marketplace to ensure their users are correctly charging and collecting VAT. This covers both goods and services, including the gig

Poland SLIM VAT 4 2024

7 February 2023 in

Poland

Poland provides notice of fourth wave of VAT compliance simplifications and reforms Poland’s Finance Ministry has given notice of a further, fourth wave of VAT compliance reforms – although no details have been provided. This follows the approval for April 2023 SLIM VAT 3 reforms.

EU VAT in the Digital Age ViDA June 2023 update

1 February 2023 in

e-invoicing

EU Finance Ministers debate 3 ViDA questions at ECOFIN 16 June 2024 The EU’s 3-pillar reforms of the VAT regime, VAT in the Digital Age, is to be reviewed by Finance Minister at the monthly Economic and Financial Affairs Council (ECOFIN) on 16 June 2023.

Panama mandatory SFEP VAT e-invoicing extensions

1 February 2023 in

e-invoice

Extensions for final deadline on implementation of electronic invoicing The 1 January 2023 deadline for a range of taxpayers to join the Ministry of Finance’s mandatory e-invoicing regime has been extended as follows: Transport services to 1 March 2023 Financial services 30 April 2023 (two

Israel B2B e-invoicing 2024

30 January 2023 in

e-invoices

Ministry of Finance phases in 2024-28 pre-clearance B2B e-invoices to tackle fictitious invoice fraud The Israeli Ministry of Finance is progressing a Continuous Transaction Control (CTC) based electronic invoicing regime. The aim is to tackle the large ‘fictions invoice’ fraud problem, often used by criminal gags

Thailand e-invoicing e-Tax and Invoice Receipt update

30 January 2023 in

e-invoices

New incentives to adopt E-Tax System Thailand’s Revenue Authority has approved a number of incentives for taxpayers to fully adopt the E-Tax System, which provides for digital reporting of invoices and withholding tax payments. Incentives include: Additional deduction allowances for costs reporting in the system

Author: Richard Asquith