End to deferred customs declarations in place since Jan 2021; full goods checks at UK borders; proof of Rules of Origin for preferential tariffs Since 1 January 2022, full border controls and customs declarations are required on goods entering the UK. This is based on
Whilst still a small slice of the sharing economy, crowdfunding is one of the fastest growing areas of this economy and, as a financial services activity, has its own unique VAT issues. This blog is part of series from an article first published in British Tax review.
More services to be brought into Value Added Tax regime Indonesia is looking to reform its Value Added Tax regime following the widening of its deficit to GDP to over 6%. It has already announced a possible rise in Indonesia VAT. The possible reforms would seek
EU harmonised marketplace transaction reporting requirements and data sharing Hungary has implemented the legislation for Directive on Administration Cooperation (DAC 7) from 1 January 2023. The first reports by digital platforms will therefore will be due in 2024. The EU-wide agreement on the exchange of
Parcel invoice and declaration rules following low-value consignments The EU e-commerce package and UK e-commerce VAT reforms impose the obligation on sellers and marketplaces to charge VAT in their checkouts for transactions not exceeding €150 or £135. This comes with the obligation to produce a
Saudi GAZT and ZTCA to combine The Gulf state of Saudi Arabia has merged its General Authority of Zakat and Tax (GAZT) with its General Authority of Customs. The new combined tax and customs agency will be known as Zakat, Tax and Customs Authority (ZTCA).
Belgium has increased(Royal Decree nr. 31) the financial guarantees required on non-EU (‘third-country’) businesses with a local non-resident VAT registration. Typically, this includes appointing a Fiscal Representative unless the third-country has a mutual assistance agreement with the EU (e.g. Norway and the UK). Existing Non-EU
The Channel Island of Guernsey is considering implementing a Goods and Services Tax. The likely rate will be 5%, with some measures to soften the impact for the less well off. The recommendation was published by the Policy & Resources Committee for debate with the
Extended options for connected businesses to join GST group simplification The city state of Singapore has updated the requirements for Goods and Services Tax (GST) groups, the arrangement to allow connected businesses to become a single VAT entity and save on cash flow and compliance
