Richard Asquith - vatcalc.com

South Korea foreign digital services transaction reporting Jul 2022

14 November 2021 in

digital services

South Korea is to implement on-demand transaction reporting from 1 July 2022 for non-resident suppliers of digital or electronic services. Korea first implemented VAT on digital services in July 2015. Non-residents registered for digital services are obliged to maintain transactional-level details for at least five

Angola VAT on non-resident digital services

13 November 2021 in

Angola

Angola implemented VAT on foreign service from 1 October 2019. However, there are no detailed rules related to digital or electronic services. A local Fiscal Representative is required to represent the taxpayer with the General Tax Administration The current VAT rate in Angola is 14%.

Indonesia e-Factur Pajak electronic invoicing

12 November 2021 in

e-Factur

Indonesia introduced its e-invoicing regime, e-Factur, in July 2015, completing in 2016, for all VAT registered businesses. This includes a government clearance system and QR Code (Quick Response Code) requirement. Indonesia’s system is a process to generate a registered and approved PDF-invoice for issuance to

UK Making Tax Digital for VAT revenues falls short by £215m after £357m investment

11 November 2021 in

Making Tax Digital

HMRC’s MTD for VAT 45% behind 2020/21 revenue budget; cost for taxpayers £1.5billion The UK’s National Audit Office has stated that expected revenues from HMRC’s Making Tax Digital for VAT (MTD) campaign only raised £265million in 2020-21 against the forecast of £470million. However, the aim

Russian e-invoicing 2023

11 November 2021 in

e-invoices

Invoice Traceability Model adopted on certain import transactions; 2023 potential full B2B pre-clearance e-invoicing Russia has become the latest country to introduce a type of compulsory electronic invoicing. The new Value Added Tax e-invoicing system came into place from 1 July 2021 for a limited

France tightens IOSS Intermediary rules

11 November 2021 in

deemed supplier

France moves to close shell Intermediary representatives France is to enforce new requirements for Intermediaries – a type of Fiscal Representative – for the new Import One-Stop Shop IOSS returns introduced on 1 July 2021 as part of the EU e-commerce package. For regular free

Italy backs VAT measures in state budget

11 November 2021 in

Four Quick Fixes

Italy delays Plastic Bag Tax; implements EU Quick Fixes Italy’s Council of Ministers have approved the 2022/24 budget, which included the following VAT and indirect tax measures: Introduce call-off stock amendment per the Four Quick Fixes. Italy was warned by the EU two months ago

Taiwan VAT on foreign digital services

11 November 2021 in

Chinese Taipei

Taiwan implemented Value Added Tax obligations on non-resident providers and marketplaces for electronic or digital services from 1 May 2017. There is a NTD 480,000 VAT registration threshold for simplified registration, and no requirement to appoint a local Fiscal Representative. Taiwan imposes Government Uniform Invoices

New Caledonia to raise VAT

10 November 2021 in

New Caledonia

Consumption tax hikes announced ahead of final independence vote The French Pacific territory of New Caledonia is to raise its Value Added Tax rates in 2022, as follows Jan 2022: 6% rate on local services is to increase to 11% on 1 Jan July 2022:

Malaysia Sales Tax on Foreign Digital Services

10 November 2021 in

digital services

Malaysia imposed its Service Tax on foreign-provided digital services from 1 January 2020. This includes providers and electronic platforms. There is a RM 500,000 Sales Tax registration threshold. Non-residents must charge this to both B2C and B2B transactions. There is no requirement to appoint a

Author: Richard Asquith

South Korea foreign digital services transaction reporting Jul 2022

Angola VAT on non-resident digital services

Indonesia e-Factur Pajak electronic invoicing

UK Making Tax Digital for VAT revenues falls short by £215m after £357m investment

Russian e-invoicing 2023

France tightens IOSS Intermediary rules

Italy backs VAT measures in state budget

Taiwan VAT on foreign digital services

New Caledonia to raise VAT

Malaysia Sales Tax on Foreign Digital Services

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