How fast are you going? Most people would say: what do you mean, it depends what I’m doing, and where I’m going. Sure, if your driving a Formula 1 racing car you go faster than if you’re riding your bike. But as Einstein said: it’s all relative!
Want to know how gooses brake? They simply go UPSIDE DOWN.
As schoolchildren, we learn that the earth is moving about our sun in a very nearly circular orbit. It covers this route at a speed of nearly 30 kilometres per second, or 67,000 miles per hour. In addition, our solar system–Earth and all–whirls around the centre of our galaxy at some 220 kilometres per second, or 490,000 miles per hour.
And that’s nothing compare to the speed of thinking. We think all day, from the moment we get out of bed and make breakfast, during the day, when we make decisions and find solutions on VAT issues, when we meet with friends or family, to ensure that you give everyone attention, etc. And the more difficult the problem or discussion, the more your brain is being ‘used-up’: you get tired.
By the way, be careful who you’re telling that. You may know the joke about the woman who visits her husband in prison.
Before leaving, she tells a correction officer: “You shouldn’t make my husband work like that. He’s exhausted!”. Whereupon the officer laughs, saying: “Are you kidding? He just eats and sleeps and stays in his own cell!”. And the woman says: “Not true! He just told me he’s been digging a tunnel for months!”
Like the goose, we sometimes need to slow down a bit. You can do that by relaxing after work, doing sports or watching tv, or take a vacation. With the summer coming up, we expect that many of you will take a break.
We won’t, as we will be making VATupdate for you as usual. Every day the latest news on VAT and other indirect taxes from around the world.
If you have any comments, questions, or ideas that you want to share with us, please send us an email at [email protected] or leave a comment under the posts of this newsletter on LinkedIn.
WORLD
- Job opportunities in Netherlands, Poland and United Kingdom
- Job opportunities in India, Poland and Switzerland
- E-Invoicing in acceleration
- Drive sustainability through E-invoicing
- VAT Update: ‘The Internet Is Rotting’ – And ERPs Have Followed Suit
- The Fundamentals of Tax Technology
- Which countries have introduced OECD’s SAF-T
- Non Fungible Tokens: Significant and Emerging VAT Issues
- Transactional Tax issues take centre stage
- Digital transformation: why combining AP, AR, and e-document compliance is key
- Carbon Taxes in the Global Market: Changes on the Way?
- E-Invoicing changes per July 1, 2022 … are you ready?
- Protecting importers’ information while improving Customs controls
- WTS Customs Newsletter 2 2022
- Automating Invoices – It’s not a walk in the park
- OECD: Report addresses how technology can facilitate SMEs’ compliance with tax…
WEBINARS / EVENTS
- Ryan Talks Tax Podcast: GST/HST and QST Simplified Registration Systems
- Webinar: A Closer Look to Egypt e-Receipt Regulation (July 5, 2022)
- Webinar “2% single tax: is it really that simple?” on 28 June
AFRICA
- VAT on indemnity payments not deductible (court decision)
- SARS issued updated VAT Guide for vendors
- Whether a tax fraction of loan cover pay-outs qualified for deduction – whether loan cover qualified as a taxable supply
- VAT 404 – Guide for Vendors (Issue 14)
- Update on implementation of framework for advance rulings to facilitate trade
- Government Clarifies Local VAT Reverse Charge Guidelines for Valuable Metals
AMERICAS
- Anguilla implements 13% GST 1st July 2022
- No GST on Fresh Fruits
- Transitional Arrangements for GST Implementation – Stock on Hand/IGT Credit
- Extension of the range of food products not subject to VAT as of July 1, 2022
- Anguillla removed the Goods and Services Tax on baby formula
- Anguilla Publishes Return Form and Guide for New GST
- Premier takes steps to mitigate effects of GST and rising costs
- GST/HST health care rebate for charities or non-profit organizations to include certain health care services delivered by nurse practitioners
- Canada Moves to Eliminate Single Use Plastics
- Costa Rica reduces interest rate for late tax payments and overpayment refunds
- Costa Rica reopens Customs Information System
- Costa Rica outlines requirements for qualifying as an approved exporter under certain free…
- Uniformity is needed! Key takeaways from U.S. Senate Finance Committee hearing on sales tax post-Wayfair
- Virginia: New Law Removes Accelerated Sales Tax Payment Requirements and Imposes Tobacco Tax…
- Louisiana: New Law Broadens Reach of Remote Sellers Commission and Streamlines Local Tax System
- IRS issues SCET guidance just before July 1 effective date
- The Senate Finance Committee re-examines Wayfair and sales tax
- Does Louisiana charge sales tax on services?
- IRS issues new guidance ahead of July 1, 2022 effective date for Superfund excise tax
- State tax changes taking effect July 1, 2022
- State Tax Changes Taking Effect July 1, 2022
- IRS provides procedures for adding or removing a substance from the list of taxable substances for Superfund excise tax purposes
- The true cost of sales and use tax non-compliance
- Sales and use tax changes (Iowa)
- Does Pennsylvania charge sales tax on services?
- State Tax Matters (27 May 2022)
ASIA-PACIFIC
- Bhutan Deferring GST Implementation a Further Two Years
- Bhutan National Council rejects GST implementation deferral
- China’s expanded VAT refund policy for additional industries
- The scope of the pilot program for the fully digitized e-invoice keeps expanding
- Preferential VAT refund policy expanded
- Customs and Tax Authorities in Shenzhen launch collaborative management of…
- E-Invoicing push in China 2022: The fully digitalized E-Fapiao program expanded
- GST Council recommends rate rationalization and clarification measures
- DGFT extends timelines till August 31, 2022, for MEIS claims pertaining to period from 01.09.2020 to 31.12.2020
- EU and India restart efforts to forge FTA
- Daily GST Updates – June 30, 2022
- GST Council reduces GST Rate on various Goods and Services
- GST Expense Breakup In Tax Audit Report
- Minutes 47th Meeting of the GST Council – Press Release
- GST Council waives GST Registration Requirements for Small Online Sellers
- Input Tax Credit mismatch can be communicated by way of a show cause notice – Madras High Court
- TDS on Virtual Digital Assets shall exclude GST: No further Deduction for Purchase of Goods,…
- GST Council Meeting Updates (June 28, 2022)
- Buyer not at fault for Non-payment of GST by Seller
- GST Council decides to ease compliance for taxpayers: Sources
- India Extends GST Compensation Cess Levy till March 2026
- Issues faced in filing of refund under GST Law
- Guidelines for Refund Claims in GST, Advisory on availing ITC as per law and GSTR-2B
- No Service Tax leviable on cleaning services provided to non-commercial building or premises
- No Exemption to generate E-Way Bill on Transfer of Goods between two units under the same GST Registration: AAR
- No GST on Payment to Overseas Commission Agent under RCM: AAR
- L’oreal profiteered ₹186 crore by not passing GST benefits to consumers: NAA
- A2ZTaxCorp’s Weekly GST Communique dated June 27, 2022
- Rate of GST on Works Contract Services
- Service provided from Overseas not Chargeable to GST under Reverse Charge Mechanism: CESTAT
- Key decisions that are likely to be taken at next week’s 47th GST Council meeting
- Service tax on goods delivery service to be effective on the 1st of July 2022 is postponed
- Extension of payment period under voluntary disclosure program for indirect taxes
- EU – New Zealand Trade Agreement: Unlocking sustainable economic growth
- PUB00424: GST and directors’ fees and board members’ fees
- Does zero-rating apply to certain services that airport operators supply to international airline operators?
- Top 10 mistakes businesses make when expanding overseas – Overlooking indirect taxes
- Cabinet approval of conditional VAT exemption for qualified data center businesses
- Thailand extends additional 25% deduction for certified biodegradable plastic products
- No requirement for issuance of electronic VAT invoices for export customs declarations
- Vietnam Extends CIT, VAT, Land Rent Payment to Aid Business Recovery
EUROPE
- VAT cuts on energy & food as inflation hits record 8.6% in June 2022
- In which countries is SAF-T coming?
- ECJ will rule on unjust enrichment and millions of VAT
- CJEU submission on input VAT deductions in the case of health resorts
- ECJ C-146/21 (DGRFP Bucureşti) – Judgment – No application of Reverse-Charge before VAT registration
- ECJ C-56/21 (ARVI ir ko) – Judgment – Exemption of a sale of real estate only if buyer is VAT registered
- Comments on ECJ C-56/21: Exemption of a sale of real estate only if buyer is VAT registered
- Agenda of the ECJ VAT cases – 2 Decisions, 1 AG Opinion until July 14, 2022
- The problem of overstated VAT on the receipt went to the ECJ
- Flashback on ECJ Cases – C-33/13 (Jagiełło) – Right to deduct the VAT if supplier committed fraud
- This is what happened in the ECJ (VAT) in June 2022
- EU Court of Justice: seven judges of the General Court appointed
- Waiver of customs duties and VAT on import of “life-saving goods” to Ukraine
- New requirements for inbound air shipments to the EU
- Ukraine: European Commission waives customs duties and VAT on the import of life-saving goods for Ukrainians
- EU and India restart efforts to forge FTA
- Which Member State is the most expensive for late payment of VAT? And how far do you need to go back in time when correcting errors?
- E-invoicing in the Group on the Future of VAT
- European Commission Publishes Annual Report on Taxation 2022
- EU – New Zealand Trade Agreement: Unlocking sustainable economic growth
- DAC 7: New obligation for digital platforms to bring better overview of online trading
- EU VAT Expert Group reviews VAT in the Digital Age reforms
- eInvoicing & eReporting in the EU – Timeline
- EU published VAT in the Digital public consultation results
- VAT Expert Group – Minutes of the 31st meeting (June 10, 2022)
- Fit for 55 package: Council reaches general approaches relating to emissions reductions and their…
- New EU e-commerce rules bring in €1.9 billion within six months
- EC looking for feedback to evaluate administrative cooperation framework in the field of VAT
- VAT in the Digital Age; Input public consultation published
- Your support appreciated: Questionnaire Survey Vienna University on cross border VAT…
- EU VAT Digital Reporting Requirements (DRR) e-invoice harmonisation update
- European Commission seeks to harmonise e-invoice and real-time reporting
- Council presents draft Bill on VAT measures in science-technology parks
- Procedure and standards for on-site tax inspections of the taxpayers of fiscalization in Albania
- Extension 6% VAT on electricity till Dec 31, 2022 published
- VAT and furnished accommodation: administration publishes FAQ
- Postponement for VAT payers – summer vacation 2022
- VAT levy on the provision of furnished accommodation – important change from 1 July 2022
- Private dwellings not older than 10 years: 6% VAT for solar panels, heat pumps and solar boilers
- Belgian eInvoicing plans
- Minister for Digitalisation suggests slashing VAT on household internet bills from 21% to 6%
- New fiscal documents on the electronic fiscal device in the Republic of Srpska in the upcoming…
- New payment methods on a fiscal receipt in the Republic of Srpska
- The implementation of changes that envisage the introduction of a differentiated VAT rate in BiH
- The Committee on Budgets decided: 0% VAT on bread in Bulgaria
- Bulgarian parliament rejects plan to reduce VAT on sunflower oil and other food products
- Czech Republic Repeals Temporary VAT Exemption on Electricity and Gas Supplies
- Czech confirms doubling of VAT registration threshold
- Czech Government Approves Draft Bill Increasing VAT Registration Threshold
- Government declares penalty exemption of late VAT filings for OSS-registered non-resident companies
- European Council authorizes Finland to apply a reduced rate of taxation to electricity supplied to certain heat pumps, electric boilers and recirculating water pumps
- France Tax Agency clarifies VAT Rules on chain sales
- France Tax Agency seeks comments on simplification of VAT for specific food items
- Option to tax banking and financial services: update of the French tax authorities’ guidelines
- Administrative guidelines on the optional VAT election for banking and financial activities
- Appointment of a Representative for Value Added Tax (letter)
- VAT rates applicable to products of agricultural origin, fishing, fish farming and poultry farming which have not undergone any processing
- Tax base – Rules applicable to specific transactions – Supply of goods
- Scope and territoriality – Taxable operations due to their nature – Provision of services
- Liquidation – Reduced rates – Products for agricultural use
- Liquidation – Rates – Reduced rates – Products taxable at reduced rates
- Liquidation – Reduced rates – Products of forestry, horticulture and floriculture
- Liquidation – Reduced rates – Products intended for animal feed
- Liquidation – Reduced rates – Products intended for human consumption
- Tax systems and reporting and accounting obligations – Obligations of an accounting nature and relating to invoicing – Rules relating to the…
- Tax regimes and declarative and accounting obligations – Declarative obligations and formalities – Declaration of transactions carried out and payment of tax – Special regimes for the declaration and payment of…
- Tax systems and reporting and accounting obligations – Reporting obligations and formalities – Specific obligations and formalities – Taxable persons not established in France – Taxable persons established in…
- Tax systems and reporting and accounting obligations – Reporting obligations and formalities –…
- Sectoral regimes – Agriculture
- Sectoral schemes – Agriculture – Unprocessed products of agricultural origin, fishing, fish farming…
- Rules for the application of VAT to farmers – Scope
- VAT treatment of insurance, reinsurance and related services supplied by insurance brokers and intermediaries
- Dependent foundations cannot be recipients of services subject to VAT
- Extended deadlines for submitting VAT returns 2020 to 2025
- Ministry of Finance clarifies VAT exemption on intra-EU supplies
- Correction of input tax deduction in the case of a VAT-free sale of a property acquired with an option for VAT
- Draft of BMF guidance on chain transactions
- Introduction of a transaction limit for agricultural and forestry companies
- Deposit on cards, charged on transfer of electronic payment cards
- Generation of VAT in the case of mediation services
- Reduced VAT rate for services provided by a non-profit organization (§ 12 Paragraph 2 Number 8 Letter a Value Added Tax Act (UStG))
- Introductory letter on VAT exemption for the management of venture capital funds according to § 4 number 8 letter h UStG
- Clarification from IAPR about B2G E-Invoicing
- Extension of the application of the reduced VAT rate for personal hygiene articles untill Dec 31, 2022
- Greece Extends Annual Tax Return Deadline for Natural and Legal Persons
- Extension until 31/12/2022 of the 6% VAT rate on masks and personal protective equipment, as well as on medical supplies for dialysis
- Extension E-Invoicing to small businesses
- For purely cosmetic interventions there is no VAT exemption
- From 1 July electronic invoice obligation to San Marino
- Ruling 353: Provision of remote access services to a scientific event
- TD16 for internal reverse charge and issuance of credit notes
- Government Introduces reduced VAT on Food Products
- Proposal: Food products exempted from VAT (instead of 21%)
- Proposal to reduce the VAT rate on electricity and natural gas from 21% to 5%.
- VAT exemption for fiduciary and operational asset management provided to pension fund
- VAT exemption for organizer of HOVO courses
- Concealed turnover may be exempt from VAT
- Note of amendment DAC7: exchange of data non-EU member states
- Concealed turnover may be exempt from VAT
- Temporary reduction in fuel excise and VAT on energy
- Changes to the Decree on the application of a reduced rate
- Management services of medical specialists to hospitals are exempt from VAT, according to court
- Justification of the approval policy decision VAT reduction for the supply of electricity and gas
- Difficult audit: no reason for refusing all VAT deductions
- Starting car dealer not a VAT entrepreneur; no VAT assessment
- Senate approves energy VAT reduction
- Selection and purchase and sale of participation rights on behalf of a pension fund exempt
- Reimbursement exemption for hospital management services provided as part of specialist medical services
- Turnover tax assessments rightly annulled despite a reasonable estimate
- Management services ancillary to VAT-exempt medical services
- New tool for electronic communication with tax authorities
- The taxpayer’s right to correct the tax return is subject to limitations
- Donation of an excavator to the wife after purchase from the lessor, excluding VAT
- The e-Tax office: New tool for electronic communication with tax authorities
- Sale of goods under DDP Incoterms can qualify as a domestic supply
- New tool for electronic communication with the tax authorities
- End of duty and VAT exemption for imports of goods needed to combat the effects of COVID-19
- Polish budget received 92 million PLN from new VAT E-commerce rules
- Five key questions about e-Transformation in Romania
- E-Invoice System Mandatory in B2G Relationships and B2B (high risk products only) from 1 July 2022
- E-Invoicing: Questions Remain as Deadline Looms
- Partial e-invoicing for B2B fiscal products
- Russian e-invoicing – full mandatory B2B on hold
- Paper invoices are not going to be cancelled
- Russian parliament approves tax break for issuers of digital assets
- Revised instructions for completing the VAT return
- Instructions on the formalities relating to the payment of VAT on importation
- Extension of reduced taxes/VAT on energy and surgical masks till Dec 31, 2022
- VAT rates for certain beverages
- The Spanish VAT Interpretation of the Use and Enjoyment Rule
- Statistics by items of Value Added Tax
- Can an employee make expenses on behalf of the employer in terms of VAT?
- Taxation on import clarification: In the event of non-compliance with customs legislation or illegal importation, the Tax Agency is in some cases the tax authority
- Ukraine: European Commission waives customs duties and VAT on the import of life-saving goods for Ukrainians
- Import of means of production – without VAT, excise duty and duties: a new bill to support business
- Is the payment of insurance payments subject to VAT?
- Is it possible to include VAT amounts on destroyed goods in the budget refund?
- How do VAT payers form cash registers in February-May 2022?
- In which VAT return must the supplier reflect a reduction of VAT due to adjustment to previous invoice?
- UK VAT cut proposal as inflation surges
- Financial Services – Flowchart
- HMRC Form: Register for VAT if supplying goods under certain directives
- HMRC Guidance: Making a delayed supplementary import declaration using the Customs Declaration Service
- Government proposes VAT cut to help ease inflation
- HMRC Guidance: Insolvency (VAT Notice 700/56)
- HMRC Guidance: VAT partial exemption toolkit
- Get ready to file plastic packaging tax returns
- Input VAT recovery and economic links
- HMRC Guidance: Updates on VAT appeals
- HMRC Guidance: VAT input tax toolkit
- UK-GCC Trade Negotiations
- HMRC Collection: Northern Ireland Protocol Bill
- VAT gap is estimated to be £9.0 billion in tax year 2020 to 2021
- VAT planning failed on development land
- HMRC: Big UK firms owe £2.7bn in unpaid VAT
- Welfare services – School Holiday Clubs
- Domestic reverse charge sales lists for mobile phones to be discontinued as of July 1, 2022
MIDDLE EAST
- Updated list of goods subject to excise tax; shipment of cigarettes with excise digital stamps
- Updates on Excise Goods List
- Saudi Arabia implementing phase two of new e-invoicing requirements
- KSA Customs Duty Increase
- First Wave of KSA E-Invoicing Phase 2
- Zakat, Tax and Customs Authority Initiates Procedures for Implementing Phase Two…
- Phase-2 of Saudi E-invoicing: Who should comply and how?
- ZATCA denies rumours on VAT exemption certificate
- Electronic Invoicing – Integration phase – First group updates
- VAT is not charged twice on the same item
- Phase Two of e-Invoicing Project Implementation Procedures (KSA)
- Saudi Arabia releases final e-invoicing regulations for Phase 2
- UAE VAT On Gold Making Charges
- UAE Federal Supreme Court VAT Registration Case
- Dubai Customs Declaration No. (05/2022): Clearing of consignments through Courier Companies
- Dubai – Customs Notice No. (04/2022): Postponing Customs procedures for Cross-Border e-Commerce
- EXTP007: Excise Goods which are deficient/missing – Process for the destruction of Excise Goods within a Designated Zone
- VAT Public Clarification VATP029 on Gold – Making Charge
- GT Check-up – FTA Audit
- UAE Federal Tax Authority issues public clarification on excise tax