Doubts on effectiveness and pass through to consumers as inflation rockets and government reach of energy and food VAT reductions The Organisation for Economic Cooperation and Development (OECD) has raised
Third extension of gas VAT cuts until 30 September 2022 as inflation hits 8% in June 2022 Italy has extended for the third time the temporary cut in Value Added
9.7% June inflation prompts 3-month extension of electricity, gas and heating VAT rate cut to 31 December 2022 As Belgian energy inflation hit 56% in June, the temporary cut in
Russia has put on pause plans to mandate B2B electronic invoicing The existing ‘Traceability Model’ on retail sales will not be extended to the B2B transactions for the forceable future.
Major global Value Added Tax and Goods and Services Tax changes from 1 July 20022 To get free regular e-mail news alerts on global VAT or GST changes, sign-up to
The Caribbean British territory of Anguilla has introduced a 13% Goods and Services Tax (GST) on 1 July 2022. Mandated business may now register if they are above the GST
GST state compensation ends tonight in deadlock; rate rises and removal of exemptions on certain supplies despite inflationary worries The July meeting of the Goods and Services Tax Council meeting approved
European Commission group debates question on: Single VAT registration in EU; Digital Reporting Requirements and e-invoices; and Platform Economy and VAT The European Commission’s VAT Expert Group (‘VEG’) reviewed this
Spring public consultation backs EU VAT reforms and harmonisations with limits The EU published submissions and summaries of its Spring 2022 public consultation on EU VAT in the Digital Age
European Commission seeks to harmonise digital Continuous Transaction Controls ‘CTC’ options for VAT e-invoice and real-time reporting. VAT Directive Amendments by 7 December 2022 Read our ViDA reform predictions for e-invoicing and
The UK 2020/21 VAT Gap was £9billion, down from £12.5 billion as COVID-19 deferred VAT scheme unwinds The difference between the UK expected and actual VAT reveipts has shrunk according
Technical framework for exchange of marketplace transaction data exchanges to help tax authorities detect VAT fraud The European Commission has issued consultation details of technical data requirements for the Directive
Eurozone energy inflation 39% May 2022; temporary VAT subsidies for domestic power, foods and other basics A fast-growing queue of European countries are emerging to cut their already reduced VAT
Domestic electricity rate to be cut from 10% to 5% as inflation hits 8.7% in May Prime Minister Pedro Sanchez announced in Parliament on 22 June a plan to half
Inflation hits 18.5% in May 2022 prompts August VAT rate cut proposal The Lithuanian Seimas Parliament is reviewing legislation to temporary cut the VAT rate on foods from 5% to
Extension of OSS return for cross-border B2C and B2B goods and services transactions as part of VAT in the Digital Age reforms. 3 options for transfers of own goods challenge
April 2022 suspension of import VAT ends on 1 July 2022 Ukraine is ending the suspension of imports VAT on many imports, including vehicles, from 1 July 2022. This will
As the Definitive VAT System reforms go on hold, the EU has extend the option to use reverse charge to reduce compliance obligations and fight fraud EU Finance Minister agreed
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