The CJEU has delivered today its judgment in the long-awaited case on whether Bitcoin exchange services are considered to be VAT exempt services. The court has followed the earlier opinion of the Advocate Generale and confirmed that the exchange of Bitcoins into conventional currencies and vice versa in return for a exchange commission falls within the VAT exemption for transactions concerning currency, bank notes and coins used as legal tender provided by the European VAT Directive. Read More »
Tag: VAT
Romania – The New Fiscal Code – provisions entering into force as of 1 January 2016
I would like to inform you about the new amendments to the Romanian VAT legislation, which will enter into force as of 1 January 2016.
Please be informed that the most important change is the decrease of the standard VAT rate from 24% to 20% starting with 1 January 2016, and from 20% to 19% as of 1 January 2017. In addition to the above, please find below a selection of other VAT provisions entering into force starting with 1 January 2016 which may also be of interest:Read More »
OECD – BEPS project – Final report on Action 1: Addressing the Tax Challenges of the Digital Economy
The OECD’s Base Erosion and Profit Shifting (BEPS) project started in 2013 amid growing concern of tax planning used by multinational enterprises (MNEs) to artificially reduce taxable income / shift profits to low tax countries by benefitting from discrepancies between country specific tax rules.Read More »
Invitation PwC Event – VAT around the world – 2 December 2015
I would like to invite you to the World Wide VAT – the international VAT forum @PwC!
This year’s World Wide VAT event presented by PwC reflects the importance of value added tax for businesses that have to deal with the complexities of indirect taxation on a daily basis. It’ll be a chance for you to catch up on the latest developments in Europe and beyond, and examine the implications for your company in more detail. Read More »
France – reduction of the VAT threshold for distance sales as from 1 January 2016 suggested
On 30 September 2015 the French government presented the draft of the Finance Act for 2016. The most interesting piece seems to be reduction of the VAT threshold for distance sales made in France by a supplier established in another EU Member State from EUR 100’000 to EUR 35’000 (article 3 of the Bill).
This needs to be confirmed as the draft will be discussed in the coming months.
For further details please contact my colleague from PwC Geneva: Patricia More / patricia.more@ch.pwc.com / +41 58 792 9507
Top Women in Tax – please nominate your candidate until 15 December 2015
20 years ago, at the time when VAT was introduced in Switzerland, men were not really interested in this field. There was too little prestige, too little to shine. The opinion of the tax community at that time was that VAT is hardly relevant for businesses as it is a transit tax and only causes pain to end consumers who have to pay the VAT. Its true for the majority of the companies that VAT is a transit tax IF EVERYTHING IS IMPLEMENTED CORRECTLY. Read More »
Modernising VAT for cross-border e-commerce: Commission launches public consultation
The European Commission has launched a public consultation to help identify ways to simplify the Value-Added Tax (VAT) payments on cross-border e-commerce transactions in the EU.
This consultation is also part of the ongoing assessment of the new rules for VAT payments on cross-border telecommunications, broadcasting and electronic services which came into force last January. Read More »
CEE VAT antifraud conference – Budapest
I am delighted to invite you to the “Mind the VAT Gap! CEE VAT antifraud conference”organised by PwC.
The event takes place on November 19, 2015, in Budapest starting at 8:30 am.
The CEE VAT antifraud conferenceaims to bring together the public finance officials of the 5 CEE countries along with European Commission tax specialists, leading tax consultants and business representatives, in order to find the best ways to tackle the issue of VAT tax evasion throughout the CEE region. Read More »
License for importation self-assessment in Hungary
Hungary is the country with the highest VAT rate (27% standard rate) within EU. In case of a business model where the importation of the goods cause negative cash flow effect due to high recovery position of import VAT one should be proactively thinking to get a license for importation self-assessment. It’s a license that can be obtained from the National Tax and Customs Authority by companies if they meet the following requirements: Read More »
New job opportunity at Wärtsilä Services Switzerland Ltd
Are you looking for a new challenging job opportunity?
Please see open position of Wärtsilä Services Switzerland Ltd – VAT/Finance Manager.Read More »
Michaela Merz 