To ensure greater stability of VAT revenue as well as to prevent VAT avoidance, Polish Ministry of Finance is going to introduce a split payment mechanism. Based on the recent project, split payment is assumed to be implemented as of 1 July 2018 in Poland. Continue reading
VAT has been online since 2010 and over 98% of VAT registered businesses already file electronic returns. Continue reading
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
Romania has a very high fraud in the VAT field and this is why the authorities had put in place a VAT registration process for resident entities, which is far more demanding compared to similar processes in other EU countries. Continue reading
The ECJ AG in the case of Boehringer Ingelheim has been handed down on 11 July 2017 (please find he CJEU case C-462/16 here: Link).
In that regard we have excellent breaking news and a VAT saving opportunity on (mandatory) rebates that companies have to render for the supply of pharmaceuticals. Continue reading
China managed VAT by invoice, therefore VAT invoice management is a key point, and the Chinese tax authorities have been using information technology on VAT collection and management. Continue reading
What will change?
On 12 May 2017 Polish Ministry of Development and Finance presented a draft amendment to the VAT Act which main purpose is to ensure greater stability of VAT incomes as well as preventing tax avoidance. To achieve these goals, it is decided to introduce a split payment mechanism within VAT taxation. Continue reading