Board of Taxation reveals AUD 760m revenues – more than four times budget following withdrawal of Low Value Imported Goods regime In July 2018, Australia scraped the LVIG Goods and Services Tax exemption on imported B2C goods not exceeding AUD 1,000. Since then, any import
EU’s VAT Committee reviews VAT treatment on cryptocurrency payment tokens The European Commission’s VAT Committee is reviewing the Value Added Tax issues arising from cryptocurrencies such as bitcoin, Spice and utility tokens. The discussion covers the VAT position, including whether taxable supply, and then, if a
European countries compete to attract import business with reverse charge import VAT with no cash payments Most European Union member states offer cashflow assistance for importers of goods into their country. France’s 2022 import VAT scheme is the latest new addition. This can be VAT
The Court of Justice of the European Union rules Belgian regional legislator may demand home rental transaction data from Airbnb The ECJ has ruled Airbnb Ireland (C-674/2) must provide transaction-level data to regional tax authorities following hearing brought by Belgium. The regional legislator had required
Taxpayer invoicing mandatory survey signals plans for e-invoicing The Kindgdom of Bahrain’s National Bureau for Revenue has launched survey to estimate the volumes and natures of VAT invoicing in the Arab Gulf island. Thins includes taking a mandatory questionnaire on invoicing pattern volumes and the
Post-based paper invoice claims replaced by online VAT recovery for non-EU taxpayers Belgium is the latest EU member state to introduce an online application process for 13th Directive VAT reclaims by taxpayers. France introduced its electronic VAT recovery process in July 2021. Currently, supplier invoices
The Central Asia state of Kyrgyzstan is planning a roll out of fiscal cash registers this year. These machines for use by retail taxpayers automatically report all transactions to the tax authorities to help manage VAT revenues and prevent fraud. The Kyrgyzstani state tax service
Most retailers must have adopted electronic Point-of-Sale machines for VAT reporting by 1 July 2022 Italy is enforcing the adoption of electronic cash registers which the capability to make automated daily transaction reports to the tax authorities. All retailers above the further reduced threshold will
Following the UK leaving the EU Customs Union and VAT regime, it’s possible on temporary imports to reduce cash payments on custom and VAT Following Brexit, it is possible to apply for a delay or reduction on import VAT and any customs duties you may
Mandatory Online Electronic Invoices for remaining VAT registered business extending to 1 July 2023 The remaining small taxpayers now already on the state FEL e-invoicing platform have been given a three-month extension. Guatemala’s Superintendent of Tax Administration (SAT) has moved the registration deadline from 1
