On 10 November 2021, Japan Customs released its annual report on customs audits. The report covered customs audits on 715 importers conducted from July 2020 to June 2021.
Japan – lesson learnt from custom audits
Tag: VAT
Webcast – 6. Schweizer MWST-Tagung – Dieses Jahr virtuell
Die Mehrwertsteuer ist im steten Wandel und wird immer transparenter.
Es wird immer anspruchsvoller, die gesetzlichen sowie behördlichen Vorgaben und Neuerungen effizient wie auch kostengünstig einzuhalten. Dazu kommt die anhaltende COVID-19-Situation, welche umsatzsteuerliche Herausforderungen mit sich bringt und die es zu meistern gilt. Gleichzeitig spielt Industrie 4.0 und die umfassende Digitalisierung in der industriellen Produktion eine immer wichtigere Rolle. Dieser absehbare Wandel bringt neue Chancen zur Prozessoptimierung.
Read More »Switzerland – New ‘Passar’ Customs IT System as from June 1, 2023
As part of the ‘DaziT’ transformation programme of the Swiss Federal Customs Authority, the IT landscape for customs processes will be renewed: The current IT systems ‘NCTS’ and ‘e-dec’ will be replaced by a new system ‘Passar’ within the next four years in phases.
Read More »Netherlands – VAT treatment of Advance Therapy Medicinal Products
The Dutch tax authorities informed HollandBio (the interest group of biotech companies in the Netherlands) about the Dutch VAT treatment of Advanced Therapy Medicinal Products (ATMPs), such as cell and gene therapy and tissue engineered products. According to the Dutch tax authorities, Advanced Therapy Medicinal Products (ATMPs) qualify as medicines, which means that these products are subject to the reduced Dutch VAT rate of 9%. This is in line with European regulations, where ATMPs are regarded as medical products.
Italy – e-invoicing changes as per 1.1.2022
Changes to the mandatory business-to-business (B2B) electronic invoicing (“e-invoicing”) rules for transactions carried out with foreign business partners (i.e., taxpayers that are not resident or established in Italy and that do not have an Italian VAT number) will be effective as from 1 January 2022. Thus, Esterometro will be abolished and, consequently, all cross-border invoices (export, import, intra-community, etc.) will have to be sent to SDI on a transactional basis (i.e. the scope of mandatory e-invoicing will be extended).
Romania – new reporting obligation („SAF-T”).
A new reporting obligation will be implemented in Romania as of 2022 (i.e. the Standard Audit File for Tax („SAF-T”)). The obligation will arise for large taxpayers as of January 2022. In this respect, taxpayers should have the ERP ready for the SAF-T reporting in terms of ensuring the existence of the mandatory elements to be reported on the format requested by the tax authority as well as insert the potential missing data.
For further information or in case of any questions please contact Andreea Dereli, andreea.d.dereli@pwc.ch.
UK – recovery of VAT for the period 1 of July 2019 to 30 of June 2020
HMRC has published a Revenue and Customs brief on 1st July confirming that businesses have been given a further 6 months to submit a valid certificate of status for the prescribed year 1 July 2019 to 30 June 2020.
PwC Webinar: Identify and prevent VAT Risks with PwC’s automated Smart VAT Questionnaire on Thursday 24 June 2021 at 11am
About the event
The praxis has shown that complex business structures, international trade and cross-border transactions entail significant challenges for most companies independent of the company size.
In order to stay compliant and minimize any VAT risks, it is important to keep track of all the relevant company processes, supply chains, etc. These challenges and developments are going hand in hand with efficient use of resources and finding efficient and pragmatic solutions in line with legislations in different countries.
Read More »The PwC VAT Conference 2021 – VAT’s Next? 10 & 11 June 2021
It’s time again for the biennial edition of the PwC VAT Conference. This year we are meeting virtually on two mornings. The conference will be focusing on the recent and upcoming changes in the sphere of VAT.
EU: Guide to the VAT One Stop Shop
The Guide to the VAT One Stop Shop providing practical details concerning registration, VAT returns and VAT payments is now available in https://ec.europa.eu/taxation_customs/business/vat/ressources_en
Michaela Merz 