Eurozone energy inflation 42% June 2022 (39% May); temporary VAT subsidies for domestic power, foods and other basics A fast-growing queue of European countries are emerging to cut their already reduced VAT rates on domestic energy, petrol and foods. Eurozone headline inflation hit 8.6% in June,
Foreign providers of electronic services given VAT registration threshold Kenya has introduced a VAT registration threshold for non-resident providers of digital services to Kenyan consumers. This is KES 5 million (approx €41,700) per annum of turnover. This is the same level as for resident business.
Umsatzsteuererklärung annual declaration for 2021 period extension The annual German VAT return which provides final summaries of a year’s VAT information is generally due by 31 July. This means 2021’s annual return is due by the end of this month, July 2022. However, more time
Doubling of annual threshold for VAT compliance from 1 January 2023 The Bulgarian parliament has agreed to double the annual VAT registration threshold from 1 January 2023. It will rise from the current BGN 50,000 (approx. €25,600) to BGN 100,000 (approx. €51,300). They estimate that
How we ended the expense and frustration of full tax determination – making tax engines affordable for the mid-market as well as enterprise businesses Heard about or lived the agony of expensive and protracted VAT or GST tax engine or returns implementations from the traditional
Draft Bill to impose VAT on nonresident digital or electronic service providers and marketplace platforms reintroduced following elections A stalled Bill (House Bill 372) to extend Value Added Tax to resident and non-resident providers and marketplaces of digital services has been reintroduced. This follows the
New technical guidance for July 2024 first wave of mandatory electronic invoicing (B2B) and electronic reporting (B2C) France has published further technical guidance for the July 2024 launch of its mandatory B2B e-invoicing regime for resident business. The latest specifications (v1.3 / v2.0) offers more
Doubts on effectiveness and pass through to consumers as inflation rockets and government reach of energy and food VAT reductions The Organisation for Economic Cooperation and Development (OECD) has raised doubts on the effectiveness of temporary VAT rate cuts to help consumers during rising inflation.
Third extension of gas VAT cuts until 30 September 2022 as inflation hits 8% in June 2022 Italy has extended for the third time the temporary cut in Value Added Tax rate on domestic and industrial use gas until 30 September 2022. Italian inflation has
