Live pre-clearance invoicing to help reduce the VAT Gap The Bulgarian National Revenue Agency has opened a public consultation on the implementation of e-invoicing. Any implementation date is unlikely to
Electronic invoicing to combat €3.6 billion in missing VAT The Belgian budget in October included a provision for the phased introduction of electronic invoicing for Business-to-Business transactions. Check VAT Calc’s
Government pre-clearance electronic invoicing Bolivia’s National Tax Service’s (SIN) has recommenced its plans to implement mandatory e-invoicing – Sistema De Facturacion Electronica (SFE) – from 1 December 2021. The SFE e-invoice
Ends withholding tax requirement The Russian Federal Law has been amended from 1 October 2021 to introduce the Value Added Tax reverse charge on supplies made by non-residents to Russian
Pre-filled VAT returns for quarter 3, 2021 Building on the success of its Sistema di Interscambio (SdI) e-invoice program, Italy has launched for over two million quarterly-filing resident taxpayers an
New Zealand has proposed ending the obligation to create, issue and hold Goods and Services Tax (GST) invoices to reflect the digitisation of accounting and the future use of e-invoicing.
Simpler, fairer VAT fines The UK’s HMRC is introducing a new Value Added Tax penalty and interest regime for late returns and payments. This was included in the recent government
GST credits; import GST postponements; foreign low-value goods and digital providers. The Australian Taxation Office has announced a range of refliefs for businesses as the COVID-19 pandemic continues to affect
Can the definitive VAT system or other reforms close fraud gap? The European Parliament has reviewed a range of measures to close EU VAT Gap – the difference between forecast
Romania eFactură electronic invoices pilot Nov 2021; phased launch 2022-23 Romania’s Ministry of Public Finance has announced that it intends to introduce an RO national e-invoicing regime as early as 6
How to hack national VAT lotteries Taiwan is having to rethink its VAT receipt prize draw after it become clear tax fraudsters were gaming the system. The fortnightly lottery gives
Government to lift thousands out of VAT net; cuts to supplies on reduced rates The Swedish government has proposed increasing the Value Added Tax registration threshold from SEK 30,000 to
The Swiss Federal Council has issued several proposals to the Parliament to broaden the VAT rules on foreign e-commerce platforms via the deemed supplier, and introduce a voluntary annual VAT
Prolonged COVID-19 crisis results in extended VAT support The Irish government confirmed in today’s budget that is has extended the 9% reduced Value Added Tax rate on hospitality and tourism rate
The Indonesian government has agreed with Parliament – voted on 7 October 2021 – a draft budget including a Value Added Tax standard rate increase from 10% to 11% from
Reducing VAT complexity and fraud The Italian Council of Minister has confirmed proposals to simplify the Italian tax regime by Draghi-Franco reforms, including simplifying the use of reduced VAT rates.
EC seeks to harmonise live transaction reporting – 3 alternatives The European Commission (EC) is undertaking a review to introduce harmonised Transaction Based Reporting (TBR) across the 27 member states,
5% GST on gig and sharing economy platform aggregators 1 January 2022 The Indian Goods and Services Tax Council (GST council) has extended the GST net to providers and online
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