UK left EU on January 31, 2020. Transition period run until December 31, 2020.
In the Netherlands the Dutch customs authorities have already granted Dutch EORI numbers to companies which have a UK EORI number as well. Therefore number of companies have two active EORI numbers in place.
The Indian sentiments on growth mirroring the global pessimism and manifested through distress in the financial sector, lower GST collections and strain on the fiscal deficit was the backdrop in which the Finance Minister tabled the budget proposals for FY 2020-21.
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The Hungarian online reporting is effective for invoices with the VAT content above HUF 100,000 issued after July, 1 2018. This online invoice reporting obligation will be subject to significant changes over the coming years.
First introduced in October 2017, the VAT split payment mechanism was supposed to tackle VAT fraud and increase the Romanian state revenues. Debated by many taxpayers that it will not achieve the desired outcomes, the VAT split payment mechanism received also the criticism of the European Commission in November 2018.
A Tax Modernization Bill introduced into the Senate late last year, includes a proposed Digital Services Tax which would subject certain digital services provided by foreign suppliers to 19% local VAT if such services are provided or utilized in Chile. The Bill is expected to be approved within the next few months and thereafter would enter into force three months after publication in the Official Gazette.
I am delighted to share BLT’s latest Indirect Tax Market Report & Salary Survey 2020. I do hope you find the attached Report a fascinating read.
Please find the Report here.
VAT gap – missing VAT revenue within EU by companies who do not act in line with the local law, has been a challenge for many years. How would you manage to push foreign companies being resident on other continent without any physical presence in the country not caring about the law to register locally for VAT and pay whatever the government should get. This is quite difficult question and to find a pragmatical way which does not cost millions on control framework is not as easy.
The major decisions* taken by the GST Council in its thirty eighth meeting1 are summarised below.Read More »
The proposal to reduce the standard VAT rate from 19% to 16% starting from 1 January 2020 was adopted by the Senate on 21 October 2019 and is currently under the analysis of various committees under the Deputy Chamber. Read More »
Effective September 1, 2019, certain suppliers that reside outside Quebec and non-residents of Canada that are registered for Goods and Services Tax/Harmonized Sales Tax (GST/HST) who make supplies of corporeal moveable property, intangible personal property (IPP) and/or services to individual consumers in Quebec and certain operators of digital platforms may be required to be Quebec Sales Tax (QST) registrants.Read More »
PwC Switzerland ITX
Michaela Merz 