Italy: News related to the mandatory e-invoicing regime, Circular letter no. 13/E 2018

Prepared by Davide Accorsi, Andrea WernerBeilinand Giuseppe Cammareri

With the Circular letter no. 13/E of 2 July 2018, the Italian tax authorities has provided further clarifications regarding mandatory electronic invoicing regime, in order to reply to questions provided by trade associations.

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India – GST Council temporarily extends the present system of filing of returns and export benefits for procurement of goods and recommends implementation of e-way bill scheme in a phased manner from 01 April 2018

In its 26th meeting held on 10 March 2018, the GST Council has decided to extend the present system of compliance for taxpayers for another 3 months up to June 2018, and the export benefits for procurement of goods for another 6 months up to 01 October 2018. Read More »

Romania – Update on split payment introduction as per 1st of January 2018

Referring  VAT split payment  the Romanian Senate has approved and further on passed on the amended law related to the VAT split payment system to the Deputy Chamber (i.e. the second institution within the Romanian Parliament that has decisional powers in fiscal matters). Read More »

Hungary – real time reporting – how to do it efficiently with online reporting tool

As of 1 July 2018 all taxpayers are required to report to the Hungarian tax authority certain data regarding invoices that are issued by invoicing software and have a VAT content of at least HUF 100,000. Such reports will have to be made electronically, through an online connection, using a specific XML file format.Read More »

India – Government extends due date for filing GSTR 1, GSTR 2 and GSTR 3 for the months of July and August, 2017

The Government has tweeted on its official twitter handle for queries on GST about the extension of due dates for submission of detailed returns in Forms GSTR 1, GSTR 2 and GSTR 3 for the months of July and August, 2017. The formal notification for extending the timelines is expected shortly. Read More »

Italy: VAT Warehousing – pending decree issued

VAT warehouses: according to the Ministerial Decree dated 23 February 2017 financial guarantee is due upon certain conditions

Abstract: in the Official Gazette dated 17 March 2017 it has been published the text of the Decree of the Ministry of Finance, which clarified relevant contents, practicalities and formalities regarding financial guarantee for withdrawal of goods introduced into a VAT warehouse from non-EU, as well as relevant exemptions.Read More »

Poland – Standard Audit File (Jednolity Plik Kontrolny) to be introduced as per 1 of July 2016

748722_original_R_by_verbraucherpapst_pixelio.deAccording to the changes in Polish tax law, which will come into force as of 1st July, there will be a new obligation for the taxpayers to have so called Standard Audit File (in Polish: “Jednolity Plik Kontrolny” or “JPK”) – special reporting form, in a special format [determined by Polish tax authorities] that will allow tax inspectors to have an easy access to accounting / tax data / records. Read More »

Hot topics in Brazil indirect taxation

Vacation spots near water Photo_RGB_R_BRZ_5709.jpgI would like to inform you on our upcoming webinar concerning hot topics in Brazil indirect taxation.

The main topics of our following webcast concern recent legislative changes in the highly complex Brazilian indirect tax environment which require taxpayers attention, as follows:Read More »

Brasil – IPI on resale of imported products

651883_web_R_K_by_lichtkunst.73_pixelio.deAs a general rule, IPI, Brazilian equivalent of Excise Tax, is imposed on imports of goods. Importers of records similar to producers are required to collect IPI on resale of imported products.

This taxation of resale of imported products for IPI purposes became a controversial matter in Brazil, as many companies started to litigate, arguing that IPI should not be imposed on such resale Transactions.Read More »

Spain – New deferral import regime – application deadline till end of January 2015

PwC_Teetasse_ENThis new regime will allow tax payers who import goods into Spain to defer their VAT payments until they file their VAT return, rather than paying the VAT due at the same time as the customs duties. Additionally, the VAT credit will be accounted for at the same time.Read More »