Following the health crisis (covid-19), several fiscal measures have been announced. In particular, Romania plans to issue VAT refunds without preliminary audit. Tax audits may subsequently be carried out based on a risk analysis.
Luxembourg is the first EU Member State to confirm that it will be able to open its “One-Stop-Shop” VAT registration portal for e-commerce from 1st October 2020. The One-Stop-Shop ( OSS) is an extension of the Mini One-Stop-Shop introduced in 2015 by the 1st e-commerce VAT package. The one-stop shop is one of the reforms...
In order to reduce the impact of the health crisis (covid-19), the Hungarian government has announced that VAT refunds will be made: within 30 days for small and medium-sized companies (normally 75 days) provided they are not considered to be at risk, within 20 days for taxpayers considered reliable.
In order to mitigate the effects of the health crisis (covid-19), the Estonian Parliament has adopted a bill providing a 9% VAT rate from 1st May 2020 for books and educational literature and certain press publications. However, the following are excluded from this measure and still taxed at the standard rate of 20%: publications with...
To improve liquidity for small and medium-sized businesses, the Danish government has announced that VAT payments made in March 2020 for transactions in the last quarter or half of 2019 could be refunded in the form of an interest-free loan.
Following the health crisis (covid-19), the Cypriot authorities have announced a plan to postpone the VAT payment deadline for the periods ending February 29th, March 31st and April 30th 2020 to 10th November 2020, subject to meeting certain conditions set out below: the taxable person must submit the return within the legal deadline, the amount...
To mitigate the effects of the health crisis (covid-19), the National Revenue Agency of Bulgaria (NRA) has announced VAT and customs duties exemptions for the import of certain medical products needed to combat the covid-19 pandemic
Following the health crisis (Covid-19), the Austrian Ministry of Finance has announced that Intra-Community supply and acquisitions of respiratory masks will be subject to a 0% VAT rate for the period from 13th April to 1st August 2020.
Following the proposal of the EU Council to authorise Member States to reduce the VAT rate on electronic publications to bring it in line with the rate its print equivalents, the UK had taken the decision to reduce the rate from 20% to 0% from1st December 2020. However, due to the current health crisis (covid-19),...
On February 3rd 2020, the Portuguese Tax Authorities issued circular No. 30218/2020 providing clarification on what proof is required for shipping or transporting goods when applying for VAT exemptions on Intra-Community transactions of goods. It also specifies what documentation must be kept either by taxable persons transferring goods under the simplified consignment stock scheme or...
The Italian tax authorities have recently clarified the right to deduct VAT incurred on the importing of goods. According to this statement, the VAT debtor is the owner of the goods and not the customs agent who acts as an indirect representative. In this context, the right to deduct import VAT belongs to the person...
Online operators who bring people together by electronic means for the purpose of selling goods or providing a service must comply with the obliations of article 242 bis of the General Tax Code. These obligations include submitting a summary document, no later than 31st January of the following year, detailing any transactions subject to VAT...
The UK Chancellor of the Exchequer had announced the following regarding UK VAT: No more tax on electronic books and publications: e-books, e-newspapers, e-magazines, academic e-journals . This measure was to come into force on 1st December 2020. However, due to the current health crisis (covid-19), the date has been brought forward to 1st May...
The Italian tax authorities have recently clarified that taxable persons can only deregister and cancel their VAT number if all tax obligations resulting from purchases and sales have completed, for example, payments and the issue of invoices.
From 1st January 2022, France will abolish all requirements for businesses wishing to benefit from the reverse charge mechanism for import VAT. This scheme allows VAT-registered businesses to apply to the French tax authorities for authorisation to use the reverse charge mechanism on imports. Once accepted, there is no obligation to pay import VAT when...
The simplification measures introduced by “Quick fixes” only apply if the supplier has not established their business, or has no permanent facility, in the Member State the goods are transported to or dispatched from. If a warehouse is owned (or leased) and directly managed by the supplier under their own means in the Member State...
