From 1st January 2020 Slovenia has introduced a second reduced 5% VAT rate, which for the time being applies only to sales of books and periodicals in electronic form.
From April 2020, the Hungarian National Tax and Customs Authority (NAV) will require all taxpayers to use the XML version 2.0 of e-invoices in their online returns. A new XML (V2.0) has been made mandatory. Incoming invoices will be available on the NAV portal After 1st July 2020, all transactions between taxpayers established in Hungary...
Following the rejection of its plan by the European Commission, and after several postponements, Romania has finally cancelled the introduction of the fractional payment scheme, a scheme that has already been implemented in Italy and Poland. However, Romania still intends to develop the SAF-T (Standard Audit File for Tax) which is an international standard for...
The Polish Ministry of Finance has announced that VAT-registered taxpayers will no longer have to file both VAT returns and the SAF-T(Standard Audit File for Tax), an international standard for electronic data exchange, at the same time. From April 2020, taxpayers declaring a turnover of more than PLN 50,000,000 (approximately EUR 11 million) will only...
The Italian government recently announced that if certain budgetary targets are not met by 2020, it will implement a number of VAT rate increases. This includes: an increase in the reduced rate from 10% to 12% from 1st January 2021 an increase in the standard rate from 22% to 25% from 1st January 2021 and...
Currently, all companies involved in B2B sales in Hungary, with a VAT amount exceeding HUF 100,000 (approximately $320), must declare their invoices to the Hungarian tax authorities at the same time as they issue the invoice to their customer. From 1st July 2020, the threshold of HUF 100 000 will be abolished. As a result,...
The Act passed on December 20th 2019, regarding state revenue and expenses for the fiscal year 2020, provides for the application of the super-reduced 3% VAT rate for services supplied by artists/performers exercising their profession (Annex B, point 18 of the amended law of 12th February 1979 concerning VAT). In circular n°800 on January 17th...
Following the One Stop Shop reform that came into force on 1st July 2021, impacting the various players in the e-commerce chain, (e-sellers, marketplaces, dropshippers, etc.), the Greek tax authorities (AADE) have recently published guides and notes on the One Stop Shop on its website. The guide provides an overview of how the platform works...
From 1st February 2020 the split payment mechanism for VAT has been abolished. This mechanism obliged certain businesses receiving an invoice to settle the invoice they received by means of two separate transfers, one for the amount of the transaction and the other for the amount of VAT charged. The businesses concerned were those in...
At the beginning of February 2020, The Spanish Tax Authorities published the implementation of Directive 2018/1910 within Spanish legislation in line with the harmonising and simplification of VAT for cross-border trade.
The Swiss tax authorities have published a practical manual on the tax obligations for foreign companies in Switzerland. This handbook covers aspects that generally affect foreign businesses, including a description of activities requiring VAT registration, possible exemptions in Switzerland and administrative advice on how to register and when to submit VAT returns. It also explains...
On 15th June 2021, the Director of the Agenzia Entrate published protocol number 151377/2021, which sets out the new procedures for applying for a certificate of purchase under the Italian Commercial Exemption (ICE) for commercial vessels. From 15th July 2021, in order to benefit from ICE, owners and/or operators of merchant ships will be able...
On 12th July 2021, the Belgian authorities announced that it is now mandatory to file the following forms electronically: Application for VAT registration (form 604 A) Application for Amendment (Form 604 B) Application for Cessation of VAT activity (form 604 C) By way of exception, the authorities allow taxpayers who do not have sufficient computer...
Following the One Stop Shop reform which came into force on 1st July 2021, impacting the various players in the e-commerce chain (e-sellers, marketplaces, dropshippers etc), Ireland has updated its VAT guide to reflect these changes. For more information you can read our blog on the One Stop Shop reform and the new regulations for...
From July 1st, 2021, foreign companies who are registered for VAT in Portugal must use an electronic invoicing software certified by the Portuguese authorities if any of the following apply: The taxable person’s turnover in the previous calendar year exceeded EUR 50,000, or if the taxable person is starting up a business and the reference...
