Richard Asquith - vatcalc.com

Single VAT registration in the EU – extending OSS to all cross-border B2C and certain B2B transactions

15 April 2022 in

Extension of OSS return – Single VAT registration in the EU – for cross-border B2C and B2B transactions as part of VAT in the Digital Age reforms The European Commission (EC) is set to publish draft VAT Directive amendments this autumn for the extension of

India tough state GST compensation decisions on July 2022 deadline

15 April 2022 in

Political tensions following COVID disruption to 5-year deal to compensate 28 states since 2017 GST compensation ends 1 July 2022 In July 2017 with the launch of India Goods and Services Tax, the GST Compensation Act, 2017 provided for five years of compensation payments to

Egypt extension of e-invoicing / receipts to B2C 1st July 2022

14 April 2022 in

Trial of B2C electronic receipts starts 15 April; fully mandatory by July 2022 Egypt is to launch a pilot of electronic invoicing / receipts on 15 April 2022. It will be made mandatory from 1 July. This follows the roll out of B2B e-invoicing since

Indonesia imposes 11% on digital wallets and crypto assets May 2022

13 April 2022 in

Indonesia

Money transfer services via payment wallets do not enjoy Financial Services exemption. Also imposing VAT on crypto asset trading transactions Indonesia’s Finance Ministry has confirmed the financial tech companies offering digital wallet services will be subject to charging standard rated VAT. This will apply from

Paraguay extends COVID-19 VAT measures

13 April 2022 in

COVID-19

Tourism, hospitality, alcohol gets further quarter VAT and duties relief Paraguay has extended reliefs granted to a range of tourism and hospitality sectors VAT and duty reliefs in recognition of the ongoing disruption from the COVID-19 pandemic. The measures have now been prolonged into April,

Suriname 12% VAT implementation July 2022 – update

12 April 2022 in

Suriname

12% Sales Tax being replaced with Value Added Tax on 1 July 2022 The South American state of Suriname’s Government Council passed the VAT Bill 2022 on 8 April 2022. This follows Parliament giving the go ahead for the implementation of a Value Added Tax regime

France election draws petrol and food VAT cut commitments on cost-of-living fears

10 April 2022 in

France

Narrowing polls push candidates on VAT cut promises as inflation soars past 5% As France goes to the polls today in the first-round of the Presidential elections, far-right opposition candidate, Marine Le Pen, has committed to a VAT rate cut on petrol and diesel from

EC warns Austria, Malta and France to refine VAT audits

10 April 2022 in

EU VAT

EC finds most countries fail to implement all best practices; Finland and Sweden top of the class The European Commission has reviewed the Value Added Tax registration, collection and auditing processes and standards of member states and the UK, and find most tax authorities’ below

Belarus raises telecoms, internet and broadcast VAT to 26%

8 April 2022 in

Belarus

1% increase on higher VAT rate from May 2022 on communications services Belarus is to raise the higher Value Added Tax rate applied on electronic communications and mobile services. From 1 May 2022, the rate will rise from 25% to 26%. The standard VAT rate

France VAT B2B e-invoicing and B2C e-reporting July 2024 – update

7 April 2022 in

e-invoice

Registrations begin Sep 2023 for July 2024 launch of B2B e-invoicing – following Mexican decentralised Continuous Transactions Controls model The French tax authorities (Direction Générale des Finances Publiques) have clarified the July 2024 launch plans for B2B e-invoicing and B2C invoice reporting: Jun 2022: The

Author: Richard Asquith