Czech has again postponed the rollout of the VAT domestic reverse charge for all B2B transactions. The Czech Republic lead the campaign of member states seeking to give the greenlight
Romania is to broaden its facility for using the reverse charge and postponed VAT accounting to avoid a cash payment of VAT on importation. The scheme will require an application
When the UK’s Brexit transition period ends on 31 December 2020, goods moving between the UK and EU will be subject to import VAT, customs declarations, potential tariffs and regulatory
The Indian Finance Act 2020 introduced a 1% Tax Deducted at Source (TDS, or withholding tax) obligations on marketplace operators processing payments on behalf of their third-party merchants. Since 1
Two alternative proposals to reform the hugely complex Brazilian indirect tax regime. The aim is to reduce instances of double and compounding taxes at the federal, state and municipal levels.
France has indicated that it may make facilitating marketplaces the VAT deemed supplier on all import transactions. The EU intention is only to require marketplaces to take on the VAT obligation on
The annual estimate by the European Commission of the amount of missing VAT – the ‘VAT Gap’ – has remained constant at €140 billion for 2018. However, the EC is
Cyprus is to extend the application of the domestic reverse charge to mobile phones, CPU’s, games consoles, laptops and similar products. This will come into effect from 1 October 2020.
The Balkan state of Montenegro has made a number of changes to its Value Added Tax regime from 4 August 2020. These are as follows: Shifted provision of accommodation, restaurant
Germany, UK, Ireland and many other countries are rushing through standard and reduced VAT cuts to help support consumer confident and bolster businesses in lockdown. But the economics and business
Poland has become the latest country to introduce a simple, local and modern (‘SLIM’) VAT initiative. The Polish measures, to be implemented in early 2021, announced include: Advance payments on
25 reforms – improve VAT and other taxes’ fairness and simplicity The European Commission (EU) unveiled its Tax Action Plan in July 2020, a range of 25 Value Added Tax and
The standard German VAT rate has been temporarily lowered from 19% to 16% between 1 July and 31 December 2020 to help businesses and consumers during the coronavirus pandemic. The
Saudi Arabia has increased its standard VAT rate from 5% to 15% from 1 July 2020. The aim is to sure up government revenues as the COVID-19 crisis has led
The city state of Singapore is looking at routes to reduce Goods and Services Tax (GST) fraud. In particular, missing trader fraud which involves sellers dishonestly reporting sales as GST-exempt
Malaysia introduced a Digital Services Tax from 1 January 2020. This is a turnover tax on foreign entities selling various electronic taxes into Malaysia. The rate is 6%. Malaysia withdrew its
COVID-19 forces tax support for key sectors Bulgaria is to reassign a range of supplies from the standard VAT rate of 20% to the reduced VAT rate of 9%. This
A new penalty regime comes into force in the Mediterranean island of Cyprus on 20 August 2020. This will be as follows for any VAT registered taxpayer whether resident or
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