Real-time transaction-based reporting and pre-clearance of VAT invoices to tax authorities to improve tax collections and simplify compliance Governments seize control of invoicing process As governments around the world look to close the VAT Gap – missed VAT or GST tax collections – many are
New German government rekindles interest in VAT regime reforms shifting the place of taxation on B2B intra-community supplies of goods to destination-based taxation The new German coalition government has committed to supporting a stranded EU VAT regime reform which would shift the obligation to charge
3 reforms: e-invoicing and digital reporting requirements (DRR); platform gig & sharing economies and e-commerce; and Single EU registration number – extension of OSS to all B2C and certain B2B The European Commission (EC) will shortly be initiating the next rounds of its ‘VAT in
Grand plan may now fall to side as VAT in the Digital Age reforms progress The proposed grand solution to tackle over €50billion in EU VAT fraud, the Definitive VAT System, is in trouble. The plan to switch from an origin to destination-based VAT on
VAT – gig and sharing economies As part of the VAT in the Digital Age review of the impact and best policies for indirect tax reforms, the European Commission is reviewing ‘VAT Treatment of the Platform Economy’. This includes the VAT effects for the gig
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 VAT revenues versus actuals. This was as a formal European added value (EAV) assessment, to
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 November 2021 for a pilot on B2G and B2B. In ordnance 8/2021 issued in the
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, which includes potentially e-invoicing. This is part of the VAT in the Digital Age, reforms
