As previously reported, Japan will introduce a new qualified invoice regime for Japanese Consumption Tax (JCT) with effect from 1 October 2023. The new system will align the JCT regime more closely with European-style VAT regimes, and in order to claim input tax credit, the purchaser will be required to retain ‘qualified invoices’ issued by ‘qualified invoice issuers’. This change will greatly impact not only companies conducting their business physically within Japan, but also foreign companies providing digital services to customers in Japan.
Please see below for further details of the new system, along with a link to a short webcast which highlights some key points that taxpayers should be particularly mindful of. The webcast (available from 12 July 2021 to 11 July 2022) also identifies certain practical issues that may arise, and is a starting point for taxpayers looking to plan their transition to the new invoice system.
HMRC has published a Revenue and Customs brief on 1st July confirming that businesses have been given a further 6 months to submit a valid certificate of status for the prescribed year 1 July 2019 to 30 June 2020.
With effect from 1 July 2021, the second stage of the so-called “e-commerce package” will be implemented throughout the EU, necessitating far-reaching adjustments to the EU VAT system, particularly with regard to supplies of goods and services to private individuals.
Covid lockdown brought us shopping over internet only, extensive growth number of retail eshops for various kind of product and services. The share of e-shops in retail sales is currently 13,5%. Customers expectations of quality and speed of deliveries are increasing, the complexity of the logistic, order fulfilment etc is becoming more and more demanding.
The company internally created e-shop becomes a complicated project and needs to be managed well. Outsourcing can be a valuable solution.
On April 15, 2021 the Court of Justice of the European Union (CJEU) issued a judgment in favor of the taxpayers (no. C-935/19). CJEU stated that Polish regulations concerning the possibility of imposing additional VAT sanctions in the amount of 20% by tax authorities are inconsistent with the provisions of the VAT Directive to the extent to which those provisions are applicable, regardless of the circumstances under which the irregularities were detected.
Das Bundesministerium der Finanzen (BMF) hat zur Frage der Sachspenden von Unternehmern an Hilfsorganisationen und andere Abnehmer an einem Tag zwei Schreiben veröffentlicht: ein Schreiben, das sich in allgemeiner Weise mit Sachspenden befasst und mit dem der Umsatzsteuer-Anwendungserlass (UStAE) ergänzt wird (im Weiteren „erstes Schreiben“), sowie ein zeitlich in seiner Wirkung begrenztes Schreiben zu Sachspenden von Einzelhändlern an steuerbegünstigte Organisationen während des Zeitraums vom 1. März 2020 bis zum 31. Dezember 2021 („zweites Schreiben“).