Due to COVID-19, the Austrian tax authorities have granted very generous deferrals of payments for all types of taxation. So far, tax payments that were booked on the tax account until the end of September, are generally deferred until 15 January 2021.
Due to the ongoing economic disruption and the expected inability to balance the tax liability by that date, the rules are amended as follows:
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I was used to each end of calendar year bringing also the end of certain tax periods. When I was working with my clients on their risk registers and update them at the end of year there was certainty. One period lapsed. Nonetheless, I understood that due to the COVID-19 pandemic period, the statute of limitation was suspended and thus extended in certain countries.
I would like to briefly draw your attention to the EU Exit Transition: Switzerland webpage, which the British administration has launched on the government site. It bundles information relevant for Switzerland and links to a number of topics.
General content on the end of the transition period can be found here: Brexit transition: time is running out.
Image source: http://unsplash.com
The “Revenue and Customs Brief 20 (2020): repayment of VAT to overseas businesses not established in the EU and not VAT registered in the UK” has been published.
Publication by PwC Germany
The Federal Ministry of Finance’s (Bundesministerium der Finanzen, or BMF) decree dated 9 October 2020 gives an interpretation of two of the four Quick Fixes implemented in the German VAT Act (Umsatzsteuergesetz, or UStG) in 2020, amending the VAT Application Guidelines accordingly. The decree covers the VAT identification number (VAT ID) being a substantive requirement for zero-rating of intra-Community supplies of goods (including timely submission of correct and complete EC Sales Lists), and new documentary evidence for zero-rating. No guidance has so far been issued on the new provisions for chain transactions and the simplification for call-off stock. This newsflash deals with the most important amendments to the VAT Application Guidelines.
Im Rahmen der Transformation der EZV werden die Prozesse bei der Wareneinfuhr erneuert, dabei prüft die EZV auch die sich ergebenden Änderungen des heutigen zentralisierten Abrechnungsverfahrens ZAZ.
Es ist der EZV wichtig, auf die Bedürfnisse der Anwender einzugehen. Das Ausfüllen der Umfrage nimmt ca. 10 – 15 Minuten in Anspruch. Die Umfrage ist verfügbar in Deutsch, Französisch und Italienisch.
Zu der Umfrage: https://findmind.ch/c/E9g8SAB4o3
Image Source: Eidgenössische Zollverwaltung
Publication by PwC Germany
The German Federal Ministry of Finance (Bundesministerium der Finanzen, or BMF) has published a decree on retroactive correction of VAT invoices. The tax authorities’ VAT application guidelines have been updated accordingly. The decree follows the principles of European Court of Justice (ECJ) case law and certain principles of national case law as developed by the Federal Fiscal Court (Bundesfinanzhof, or BFH).
Currently legislative work on the bill has come to an end, the aim of which is to introduce a new tax on selected food products (“Sugar Tax“). The expected date of entry into force of this tax is 1st of January 2021.
The tax will apply to entities introducing beverages with the addition of sweeteners, caffeine or taurine to the domestic market – with some exceptions. Our analyzes indicate that this regulations may affect producers, distributors and retailers.
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Indirect Tax
Governments with a VAT/GST regime in place would typically consider cryptocurrency and related transactions to be within that taxing regime.
Companies supplying articles containing substances of high concern (SVHCs) on the Candidate List in a concentration above 0.1% weight by weight (w/w) on the EU market have will have to submit information on these articles to new EU register – SCIP (Substances of Concern In Products) as from 5 January 2021. Lead (which is widely used in electronics) is also among these substances. Thus, each article Lead (or the substance itself) must be submitted in this register. Please analyse the list of substances in order to understand if you face additional reporting obligation.
PwC Switzerland ITX
Michaela Merz 