The French Constitutional Council has ruled that France may no longer levy a disproportionate fine for missed VAT invoices. The current (Art. 1737, I, 3. of the CGI) French tax code allows for a 50% fine based on the VAT due on the invoice. The
The Organisation for Economic Cooperation and Development has issued model gig and sharing economy tax reporting guidelines. This framework aims to provide clarity and consistence between global tax authorities on the data they require to help monitor the activities of sellers or users of the
Two temporary cuts to VAT rates extended till 30 September 2021 during COVID-19 pandemic Turkey has extended again the reduce the Value Added Tax rate on accommodation and other services to the 1% reduced rate, this time until 30 September 2021. A range of other
Increase in Value Added Tax annual registraton threshold The east African state of Malawi has published its 2021/22 budget which includes a number of Value Added Tax changes. They are effective 1 July 2021. These include The VAT registration threshold is to rise to MWK
Italy’s Agenzia delle Entrate tax authorities have delayed the upgrade of VAT cash register until 1 October 2021 due to the COVID-19 virus emergency. Mandated certified online registers with daily invoice reporting were introduced from July 2019 for retailers with turnover above €400,000 per annum.
Harmonised VAT on e-publications and paper equivilants Estonia has introduced a range of tax measures to help businesses and consumers during the COVID-19 health and economic crisis. The Value Added Tax measures include: Electronic book and educations books will be reclassified to the 9% reduced
Italy is to allow EU businesses with an Italian VAT number to process a credit application through a new ‘direct refund procedure’. This follows a Court of Justice of the European Union decisions (C-323/12) of 6 February 2014 and (C-242/19) 11 June 2020 which upheld
On 1 January 2021, the UK ecommerce VAT rules changed on consignments not exceeding £135 and deemed supplier online marketplaces (OMP). This mirrored the 1 July 2021 EU e-commerce VAT package. A concession on business-to-business B2B imported sales of goods was made. Instead of output
Peru has yet to impost its Value Added Tax on digital or electronic services provided by non-resident sellers or marketplaces. B2B domestic supplies of e-services are already liable to VAT. B2B supplies from abroad to resident businesses may be zero-rated under the reverse charge mechanism.
Angola has extended its Value Added Tax regime on 1 January 2020. The 14% regime was implemented on 1 October 2019 for large tax payers. VAT replaced the 10% Turnover Tax. The current VAT rate in Angola is 14%. Basic foodstuffs are nil-rated. Financial services,
