Key changes by country • Bulgaria o Arrivals : the reporting threshold will increase from BGN 1,700,000 in 2025 to BGN 1,760,000 o Dispatches : the reporting threshold will increase from BGN 2,200,000 to BGN 2,250,000 • Cyprus o Arrivals : the reporting threshold will rise from EUR 350,000 in 2025 to EUR 380,000 o...
The latest VAT Gap report, published by the European Commission on 11 December 2025, reveals that EU Member States failed to collect EUR 128 billion in VAT revenue in 2023. This represents around 9.5% of the VAT theoretically due, highlighting ongoing challenges in VAT collection and the continued need to strengthen tax compliance across the...
Extension of the Compliance Deadline The BOFiP update published on 2 October 2025 extends the compliance deadline for cash register software and systems to 31 August 2026. Under this measure, only a certificate issued by an accredited body will serve as proof of compliance, replacing the self-declaration previously issued by software publishers. Key implementation dates:...
A Strategic Lever Confirmed by the OECD Report of 11 September 2024 The OECD report released on 11 September 2024 reaffirms that Value Added Tax (VAT) remains a key instrument of fiscal policy for governments worldwide. According to the report, VAT continues to serve not only as a major source of public revenue, but also...
