In a decree dated 22 December 2020, the German Federal Ministry of Finance (Bundesministerium der Finanzen, or BMF) has published the forms for the 2021 preliminary VAT returns (Umsatzsteuer-Voranmeldung, UStVA).
From 1st January 2019, foreign suppliers of business-to-business (B2B) electronically supplied services are required to register with the Federal Tax Service in Russia.The method applied in 2018 whereby the Russian business customer collects and remits the VAT at the standard 18% rate to the tax authorities through the reverse charge mechanism is not applicable anymore.Read More »
Due to the change in legislation, non-established sellers of “low-value” goods into Switzerland will be obliged to register for VAT if they generate more than CHF 100,000 (approx. USD 100,000) of sales of low-value goods per year.
Low-value goods are defined as imports where the VAT charge does not exceed CHF 5. At the currently applicable Swiss VAT rates these are shipments of CHF 65 at the standard VAT rate of 7.7%, or CHF 200 at the reduced VAT rate of 2.5%. Import VAT and customs duties are not levied upon the importation of goods if the amount of import VAT does not exceed CHF 5.Read More »
The German Federal Ministry of Finance (MoF) has published a decree (dated October 4, 2018) with respect to the VAT treatments of mandatory rebates.
Within this decree, the MoF states that mandatory rebates according to the drug discount law (“Arzneimittelrabattgesetz”) do entitle the taxpayer to reduce the relevant tax base for VAT purposes. Read More »
HMRC recently published their final version of the legislation introducing the new MTD VAT reporting obligations, which are to take effect from 1 April 2019.
From this date, businesses with UK taxable turnover above the VAT registration threshold (currently ₤85,000 per annum) will need to keep and preserve digital records and submit UK VAT returns using compatible software.Read More »
Please be informed that Order HFP / 36/2018, of January 18, establishing certain provisions related to the Intrastat System in order to unify and adapt the national Intrastat to the EU’s regulations, entered into force on March 1, 2018.Read More »
The Swiss VAT law changed. From 1 January 2018 onwards, any person or business with global turnover of CHF 100’000 or more may be liable to VAT starting from the first franc of turnover in Switzerland. This means that if you want to continue doing business in Switzerland, you need to register with the tax authority.
Please find HERE the most important changes.Read More »
HMRC starting to transform the tax system, so that it is more effective, more efficient and easier for taxpayers as well as for the controls done by HMRC themselves.
VAT has been online since 2010 and over 98% of VAT registered businesses already file electronic returns. Read More »
In brief
Saudi Arabian General Authority for Zakat and Tax (GAZT) announced that VAT registration will start in September 2017 and deadline for registration will vary depending on the size of the potential taxable businesses.Read More »
Swiss VAT Authorities informed that a pilot project to electronically file the VAT returns will start next year.
Beginning from Q04/2014 every taxpayer in the respective cantons of “zone 1” (Basel, Solothurn, Thurgau and Uri) has the possibility to file the VAT returns electronically.
The taxpayer will be notified about this new possibility together with the VAT return of the 4th quarter 2014.
During the testing phase every participant still has the chance to file the VAT returns by regular mail.
PwC Switzerland ITX
Michaela Merz 