VAT TV May 2022 news & views
VAT TV May 2022 news & views
in Tags
Want to join the VAT TV subscription list? Sign-up here. May 2022 VAT & GST news and views
EU Parliament votes VAT reverse charge extension to Dec 2025
EU Parliament votes VAT reverse charge extension to Dec 2025
in Tags
Legislator endorses continuation of anti-VAT fraud measure and Quick Reaction Mechanism until 31 December 2025 The European Union Parliament has voted to retain the VAT reverse charge mechanism to help reduce the VAT Gap – amount of uncollected EU VAT. The reverse charge is an
Serbia B2B e-invoicing Jan 2023
Serbia B2B e-invoicing Jan 2023
in Tags
Sistem E-Faktura B2G electronic invoices May 2022; B2B January 2023 Serbia has confirmed the 2022 mandated Sistem E-Faktura e-invoices requirement for B2G transactions from 1 May 2022 (previously 1 January 2022). B2B invoices will still go ahead from 1 January 2023. This covers the creation, issuance, sending
Spain rules on electronically produced invoices Jan 2024
Spain rules on electronically produced invoices Jan 2024
in Tags
Only state or VERI*FACTU approved invoicing software may be used to prepare and submit invoices Spain is to formalise from 1 January 2024 the rules on invoices and their production electronically, including computerised invoicing. This includes certified invoicing systems and voluntary submission of invoices to
Romania B2B RO e-invoicing eFactură July 2022
Romania B2B RO e-invoicing eFactură July 2022
in Tags
Romania eFactură electronic invoices now open to registrations; phased launch 2022-23 Eligible businesses may now register for Romania’s new B2B RO e-invoicing regime. The first phase of mandated e-invoices is for fraud high-risk supplies (see below), and starts 1 July 2022 the Ministry of Finance has
Germany exempts virtual in-game land sales
Germany exempts virtual in-game land sales
in Tags
Payments for digital properties within online games outside scope of VAT The German Federal Tax Court, BFH, has ruled that sales or leasing for consideration of virtual buildings or land is outside the scope of VAT. The case covered the use of the US-based game,
China zero’s VAT on delivery services
China zero’s VAT on delivery services
in Tags
Stringent COVID-19 lockdowns lead to VAT break The Chinese Ministry of Finance and State Taxation Administration have confirmed that delivery services will be zero-rated between 1 May and 31 December 2022. This will cover express delivery services of household essentials, aimed at providing some support
Ireland confirms VAT obligations on crypto-assets
Ireland confirms VAT obligations on crypto-assets
in Tags
VAT liabilities on mining, exchange and consideration role for cryptocurrencies and similar crypto-assets Ireland’s tax authorities, the Revenue, has confirmed the VAT and other tax obligations on virtual digital currencies, including Bitcoin and tokens. An EU review on VAT on crypto-assets is underway. Key points
May 2022 global VAT & GST changes
May 2022 global VAT & GST changes
in Tags
Major changes around the world in Value Added Tax and Goods and Services Tax If you want live updates on these issues, sign-up here for our free email newsletter.
Sri Lanka faces sharp VAT rise to 14%
Sri Lanka faces sharp VAT rise to 14%
in Tags
2019 cut to 8% may have to be reversed as country faces worst economic crisis The drop in revenues during the COVID-19 crisis may force the government to reverse the reduction in VAT in 2019 from 15% to 8% the finance minister has said. This