Michaela Merz


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‘EU VAT: Recent Developments and Outlook’


During this 3-day seminar you and other top international indirect tax specialists will discuss the VAT implications of a wide range of topical issues, including the measures recently implemented or soon to be implemented across the EU.

You will be brought fully up-to-date with all the important developments in your field and can be assured of in-depth discussions with prestigious international speakers.

The seminar will be held from Wednesday 25 – Friday 27 September 2019. Continue reading


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NORWAY: SAF-T implementation as of 1 January 2020


SAF-T will most likely be mandatory from 1 January 2020 in Norway. According to the SAF-T rules, the Tax Authorities may ask for the general ledger and the customer and supplier specifications (sub ledgers) to be provided in a specific xml format.

The required documentation shall be delivered through www.altinn.no (public portal for exchange of information). Continue reading


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Hungary – 11 days to go with real time reporting


Did you know that in just 11 days time Hungarian Real Time Invoice Reporting goes live?

From 1 July 2018 VAT registered businesses in Hungary will be required to immediately report any B2B domestic sales invoices they raise of at least 100,000 HUF (300 EUR) to the tax authorities. Continue reading


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Italy – Tax authorities may assess under-declared VAT by extrapolation


The Advocate General (AG) has opined that the principles of EU law do not preclude national legislation from assessing a taxpayer, who is presumed to have under-declared VAT, for unpaid VAT by means of estimating that taxpayer’s likely revenues based on studies of comparable taxpayers within the same economic sector. However, the national courts must ensure that principles of law, such as the right to challenge the basis of assessment, are respected (Fontana (C-649/16)). Continue reading


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VATwatch – A solution that helps you identify your VAT risk exposure and gain valuable business insight


How can VATwatch help you manage VAT risk and gain valuable business insight?

What’s the problem?
Being in control of your VAT data is becoming more crucial than ever. Continue reading


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India – SC holds that no service tax is payable on reimbursable expenditure or cost incurred by the service provider before 14 May, 2015


Background
Section 67 of the Finance Act, 1994 (the FA, 1994) deals with the valuation of taxable services for the purpose of levy of service tax. Further, the Service Tax (Determination of Value) Rules, 2006 (the Rules) were also issued, to specify inclusion or exclusion of various amounts in the value of taxable services. Continue reading


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India – Trade discounts are permissible deductions from total turnover and cannot be disallowed as original tax invoice issued did not indicate discount


The tax authorities have always disputed the claim of post-sale trade discounts (cash or quantity discounts) claimed by the taxpayers on the ground that the said discounts were not linked to any sale invoices. Hence, claim of deduction towards such discounts from the sales turnover were disallowed. Continue reading