Bulgaria VAT changes
The Bulgarian Ministry of Finance has issued a number of proposed changes to the Value Added Tax regime. These include: New guidance on issuing credit notes on advances and deregistered VAT payers...
View ArticleItalian VAT filings changes
Italy has proposed this week (Law Decree 193) to introduce extensive new VAT filing requirements from 1 January 2017. The changes will be confirmed in the forthcoming weeks. Quarterly VAT returns There...
View ArticleCroatia cuts VAT 2018
Croatia is to reduce its standard VAT rate from 25% to 24% from 1 January 2018. In addition, it will combine its existing two reduced rates (5% and 13%) to a single rate of 12%. Croatia last raised...
View ArticleItaly VAT warehouses
From April 2017, domestic taxable supplies of goods from VAT warehouses will not require a VAT payment by the customer. Goods introduced to the warehouse via an intra-community supply will be exempted...
View ArticleSerbia VAT records
From 1 January 2017, VAT registered businesses in Serbia will be required to comply with new record keeping rules. The tax authorities have categorized all invoices and business documentation into 13...
View ArticleEU VAT Action Plan update
The European Commission’s VAT Action Plan is making progress through the planning stages, with major draft legislation expected in November. The initiative, launched by the EC in April, is aimed a...
View ArticleUK exit from EU VAT delayed?
On 3 November, the UK High Court ruled (against the UK government) that the UK Parliament would vote on an Act of Parliament on invoking Article 50 of the Lisbon Treaty – which triggers the start of...
View ArticleSerbia VAT records
From 1 January 2017, VAT registered businesses in Serbia will be required to comply with new record keeping rules. The tax authorities have categorized all invoices and business documentation into 13...
View ArticleUK exit from EU VAT delayed?
On 3 November, the UK High Court ruled (against the UK government) that the UK Parliament would vote on an Act of Parliament on invoking Article 50 of the Lisbon Treaty – which triggers the start of...
View ArticleItaly new VAT groups
Italy is to introduce VAT groups for connected, resident companies from 1 January 2018 (Financial Law 2017). The new, simplified VAT reporting group will enable connected companies to report under a...
View ArticleGreek VAT registrations
The Greek tax authorities are to provide directly registered foreign EU entities with new facilities to update their VAT registrations. Since 2013, non-resident companies from other EU member states...
View ArticleCroatia VAT changes
Croatia is to make a number of changes to the VAT law, as follows: The VAT rate will be cut from 25% to 24% in 2018 VAT rate on restaurant services will rise from 13% to 25% from 1 January 2017 The...
View ArticleEU advances VAT reform
The European Council has adopted this week a range of recommendations from the European Commission on some of the reforms from the VAT Action Plan. These include: Member states should move towards...
View ArticleBulgaria cuts Intrastat thresholds 2017
Bulgaria is to lower the reporting thresholds for Intrastat, the monthly filing of movements of goods between the country and other EU member states. From 1 January 2017 the threshold for arrivals will...
View ArticleRomania cuts VAT to 19% 2017
Romania is still on course to reduce its VAT rate from 20% to 19% from 1 January 2017. This rate cut follows the 2016 reduction from 24% to 20%. Romania originally hiked VAT from 19% to 24% in 2010 at...
View ArticleUK challenges EU e-commerce VAT
A UK VAT case is making progress towards potentially relieving some e-commerce sellers of their foreign VAT registration and returns burden. Separating online selling from the delivery service...
View ArticleHungary: top EU VAT rate funds lowest Corp tax rate
Hungary has proposed lowering its corporate tax rate to 9%, which would be the lowest in the European Union. This investment-attracting policy is partially funded by Hungary’s VAT rate of 27% – the...
View ArticleItaly reverse bad debt rule
Italy is to reverse bad debt relief on insolvent debts. In 2016, the Stability Law introduced VAT relief via credit notes on output VAT not collected due to suppliers going bankrupt. The tax...
View ArticleUK curbs VAT Flat Rate Scheme
The UK has announced today that it will curb the use of the Flat Rate Scheme (FRS) to limit potential exploitation. FRS enables very small businesses to only charge a reduced VAT rate (compared to the...
View ArticlePoland VAT e-filings
Poland is to introduce compulsory online filings for a range of VAT-related submissions from 1 January 2017. The affected filings include: VAT-7; VAT; VAT-7K-7D; and the summary information VAT and EU...
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