Richard Asquith - vatcalc.com

EU infringement procedures against UK on Northern Ireland Protocol VAT and customs failures

25 May 2022 in

Brexit

EU latest legal action against UK on failure to fully implement Northern Ireland Protocol: Import One-Stop-Shop e-commerce VAT return; customs checks of goods between NI and GB; and excise measures The European Commission has started four infringement procedures against the UK around the operation of

UK Northern Ireland Protocol – VATCalc talks to the BBC

24 May 2022 in

Goods and Services Tax

VATCalc talks to the BBC. The issue of the Brexit Northern Ireland Protocol has come to the fore again as the UK government threatens to unilaterally rewrite the border inspection rules. Richard Asquith explains to the BBC what the related VAT concerns are. Plus the

EU’s VAT One Stop-Shop €6.8 billion revenues in 6 months

24 May 2022 in

EU VAT e-commerce package

New distance selling single VAT filing figures highlight initial success The EU Directorate-General for Taxation confirmed new and updated revenues from the EU e-commerce package reforms introduced from 1 July 2021. This included new data on the Import One Stop-Shop regime, plus first numbers from

Spain assesses VAT on Non-fungible token as electronic service

23 May 2022 in

Crypto-Assets

NFT classified as digital service and liable to 21% VAT Agencia Estatal de Administración Tributaria, AEAT, has ruled that the supply of Non-fungible token is to be regarded as the supply of an electronic service and subject to the standard rate of 21% The ruling was provided

US Kansas phases out sales tax on food

22 May 2022 in

Sales Tax

‘Axe the Food Tax’ campaign approved by Governor The US state of Kansas is to phase out sales tax on food and food ingredients, covering “substances, whether in liquid, concentrated, solid, frozen, dried or dehydrated form, that are sold for ingestion or chewing by humans and

Israel VAT March and April filing extension

22 May 2022 in

Israel

The Israel tax authority extends returns and remittance deadlines Israeli VAT returns are filed bi-monthly if the annual turnover does not exceed NIS 1.51million (approx €400,000 or $470,00). Otherwise it is monthly filings. The bi-monthly March and April returns and remittances is now delayed until

Czech to raise VAT registration threshold

20 May 2022 in

Czech

Doubling of the registration threshold to lift thousands of business out of the VAT net The Czech Republic (Czechia) has been given permission by the European Commission (and European Council) to raise its VAT registration threshold. It will increase from CZX 1 million to the

Single VAT registration in the EU – movement of own stocks – VAT in the Digital Age

19 May 2022 in

Single EU VAT registration

3 options for simplification of treatment of movement of own stocks using the One Stop-Shop single VAT return to reduce multiple VAT registrations The European Commission (EC) is now reviewing three options to reduced the VAT registrations and compliance reporting costs on movements of own

Bulgaria cuts VAT on heating, accommodation and bread to combat 14.4% inflation

19 May 2022 in

Bulgaria

Temporary tax breaks on domestic fuel and basic foodstuffs The Bulgarian government has proposed temporarily reducing the Value Added Tax rate on domestic heating and bread. The National Statistical Institute said that Bulgaria’s consumer prices rose by annualised inflation rate of 14.4% (12.4% in March).

US e-invoicing pilot update

19 May 2022 in

e-invocing

The US’ Business Payments Coalition has launched a federal B2B electronic invoicing exchange pilot in the second half of 2022. The aim is to launch a full public scheme in 2023 for voluntary adoption. Over 75 international businesses have now joined the pilot as at

Author: Richard Asquith

EU infringement procedures against UK on Northern Ireland Protocol VAT and customs failures

UK Northern Ireland Protocol – VATCalc talks to the BBC

EU’s VAT One Stop-Shop €6.8 billion revenues in 6 months

Spain assesses VAT on Non-fungible token as electronic service

US Kansas phases out sales tax on food

Israel VAT March and April filing extension

Czech to raise VAT registration threshold

Single VAT registration in the EU – movement of own stocks – VAT in the Digital Age

Bulgaria cuts VAT on heating, accommodation and bread to combat 14.4% inflation

US e-invoicing pilot update

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