The CJEU Judgement on “Luxury Trust Automobil GmbH” (C-247/21) analysis the importance of following strictly invoice requirements in a triangulation supply and more specifically of the “reverse charge” statement on the second invoice in a triangulation.
Category: Tax Knowledge
Switzerland – Increase in Swiss VAT rates as from the 1st of January 2024
On 25 September 2022, the AHV 21 reform was adopted in Switzerland to secure the financing of the AHV until 2030.
WU GTPC — Additional VAT Questionnaire
Unresolved cross-border VAT disputes distort trade flows within the EU and can influence the location decisions of companies. At the same time, they divert the resources of tax administrations away from improving the operation of VAT systems. This is why the EC has been considering launching work to assess the size of the problem and potential solutions.
Ukraine: New trade rules with Ukraine a proposal of lifting customs restrictions made by EU Com.
The European Commission announced that it aims to implement special customs measures in regards to Ukraine and goods originating from Ukraine.
Portugal : e-Signature required on all PDF invoices (exception due to Corona till 30.6.2022)
According to the Portuguese Law, in order to issue electronic invoices: “the taxable persons must assure the authenticity of the origin, the integrity of the content and the legibility of an invoice, from the point in time of issue until the end of the period for storage of the invoice, by means of any business control that creates a reliable audit trail between the invoice and the supply of goods or services.
EU – Public Consultation on e-commerce – consumer input required
Since most of us will fall within the category of people who purchase goods online of which some will also come from outside the EU, may I suggest that you take a few minutes and complete the questionnaire to voice your opinion how the future of e-commerce should look like.
Image source: http://unsplash.com
SCIP regulation – new EU register as from 1.1.2022
In most EU countries, a new EU SCIP register came into force on 1 January 2022, which includes products containing hazardous substances. The introduction of this register has not been properly publicized and it is worth getting acquainted with this regulation due to the high financial penalties provided for in it.
Slovenia – introduction of reverse charge for foreign BtoB sellers as from 22 January 2022
Slovenia’s National Assembly approved adoption of Article 194 of the EU VAT Directive for the VAT Act. That means that VAT compliance obligations can be shifted from foreign B2B seller to their resident customers. This simplification means VAT is not charged by the vendor, and the recipient records the transaction as a ‘reverse charge’ with no cash payment.
Peru – Authorized Exporter: a new facility for exporters that will save time and reduce costs
In June 2020, Peru’s Ministry of Tourism and Foreign Trade published the Rules of Authorized Exporter by means of the Supreme Decree No. 005-2020-MINCETUR. Under these rules, exporters could obtain an administrative license that allows them to issue their own certificates of origin (COs). Thus, exporters no longer need to submit forms before the Ministry to acquire COs, thereby saving time and reducing costs.
Mexico – Electronic tax bill of lading: key implications
As of September 30, 2021, a new document known as an electronic tax bill of lading has become mandatory for all companies that transport goods (both imported and domestic) within Mexican territory. Failure to comply with this change in a timely manner will trigger customs and tax implications such as penalties, seizure of the goods, and possible tax deductibility issues.