As of 1 January 2021, the scope of invoices to be reported was expanded, as the invoices issued to non-domestic (i.e. EU or non-EU) tax payers and non-taxable persons also have to be reported, thus the invoice data issued in relation to an intra-Community and export supplies are subject to reporting obligation as well.
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.
The EU’s new reporting regime (commonly referred to as DAC6) is a real game changer. Tax planning becomes full transparent. But this is not just another reporting regime, this has also a strategic impact on companies and individuals, also in Switzerland. Time to think about this is now. So what is DAC6 all about?Read More »
What’s the problem?
Being in control of your VAT data is becoming more crucial than ever. Read More »
Last month the OECD has published its final reports to combat Base Erosion and Profit Shifting (‘BEPS’). Finance Ministers from the G20 countries have since then endorsed the final detailed action plan for putting in place a coherent and transparent global tax regime.
One of the core themes of the BEPS action plan is the concrete requirement for all multinational companies (with a global turnover of EUR 750 million or more) to annually prepare the country-by-country report (CbC Report). Read More »
The world is changing at a very high speed. Basics, which were valid yesterday, will become obsolete tomorrow. Rarely does a day pass without an article about taxes appearing in one of the world’s leading newspapers – and, more often today than in the past, these articles appear on the front pages of these newspapers. This is a sign of the ever-increasing impact of taxes in our world today. Read More »