VATupdate.com Daily Newsletter: January 17, 2024

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Headlines January 17, 2024

• Webinar – VATupdate x Fonoa – Global E-Invoicing 2024: From Provider Selection to Ownership (Jan 24, 2024)
• Romania – Turmoil in Romanian E-Invoice Mandate Sparks Entrepreneurial Frustration
• Poland – What’s next for KSeF? There are more and more arguments for postponing the deadline
• Italy VAT country guide 2024
• Belgium Prioritizes VAT Reform During EU Presidency

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• VATupdate Newsletter Week 2 2024
• E-Invoicing
  • Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
  • Timeline of B2B E-Invoicing & E-Reporting mandates in the European Union
  • E-Invoicing & E-Reporting developments in the news in week 50&51/2023
  • Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in December 2023
  • Worldwide Changes to E-Invoicing/E-Reporting per January 1, 2024
• ECJ
  • ECJ VAT cases decided in 2023 incl. Case # and name, Articles discussed, Topic, Questions and Decision
  • Agenda of the ECJ VAT cases – 3 Judgments, 1 Hearings announced till February 8, 2024
  • 971 ECJ VAT Cases are now available on www.vatupdate.com
  • This is what happened in the ECJ (VAT) in December 2023 …. A lot of new cases in the pipeline
• VAT Rates
  • VATupdate.com: Noteworthy VAT Updates and Rate Changes in December 2023
  • Stay tuned on upcoming VAT rate changes in Asia Pacific
  • Stay tuned on upcoming VAT rate changes in Europe

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AZERBAIJAN

• Azerbaijan Implements VAT Refund for Factoring Operations

BELARUS

• Individual Entrepreneurs Not Recognized as VAT Payers, Ministry of Taxes and Duties Says
• Input VAT is Fully Deductible for Electronic Distance Sales of Goods Outside of Belarus, Ministry of Taxes and Duties Says

BELGIUM

• Belgian Parliament Considers Draft Bill for Mandatory Electronic Invoicing by 2026
• New VAT Reporting Obligation for Belgian Non-Profit Organizations from January 2024

BOLIVIA

• Bolivia Extends VAT Incentives for Industrialization in 2024 Budget Law

BULGARIA

• Bulgaria Implements Amendments to VAT Legislation: Refunds, Rate Extensions, and Simplified Procedures

CANADA

• Mastering Canada’s GST/HST Credits: A Guide to Financial Stability

CHINA

• Adjustment of VAT and Consumption Tax Refund Goods in Hengqin Guangdong-Macao Deep Cooperation Zone

DENMARK

• Proposal for amendment of the VAT Act and Act on various consumption taxes

EGYPT

• Egyptian Tax Authority Guidelines for Value Added Tax Refund Process
• E-Receipt System in Egypt: Third and Fourth Sub-Stages of the Fourth Main Stage

EUROPEAN UNION

• Belgium Prioritizes VAT Reform During EU Presidency
• EU Court Rules: Director Fees for Luxembourg Public Limited Liability Company Not Subject to VAT
• European Union’s New Carbon Border Adjustment Mechanism: First Report Due by January 2024

EUROPEAN UNION/ SWEDEN

• Sweden Seeks CJEU Ruling on VAT Re-valuation for Supplies between Related Parties

GREECE

• Significant Improvement in Greek Tax Compliance Due to Electronic Payments

GUYANA

• Government Removes VAT and Duty on Sport Equipment to Promote Accessibility and Affordability

INDIA

• GST Portal Update: GSTN redesigns Notices and Orders Tab

IRELAND

• Guide to VAT Return of Trading Details for Annual Filing and Compliance Measures

ITALY

• Clarification on VAT for water supply and collection services for users
• Italy VAT country guide 2024
• Management of Integrated Water Service: VAT-liable Service Provision
• Treatment for VAT purposes of water supply and wastewater collection and treatment services

JAPAN

• OECD Urges Japan to Increase Consumption Tax and Address Economic Challenges

KAZAKHSTAN

• Expansion of the List of Activities for Applying the Retail Tax Special Regime

KENYA

• Reminder: Simplification of VAT Return Filing Process for VAT Registered Taxpayers

MALTA

• Malta Provides DAC6 Annual Notification Form for Non-Disclosing Intermediaries

NETHERLANDS

• Consumers can reclaim VAT on home batteries, with or without solar panels
• Denial of VAT refund request leads to justified additional tax assessment
• Netherlands revises Decree on VAT treatment of immovable property
• Netherlands Updates VAT Treatment of Immovable Property in New Decree
• No misdemeanor fine despite self-offsetting with missed VAT deduction
• Non-Admissibility of Appeal Due to Late Submission of Supplementation Declaration

PHILIPPINES

• BIR Raises VAT Exemption Threshold for House and Lots Valued at P3.6M and Below
• Tax Treatment of Cross-Border Services in the Philippines: Withholding Tax and VAT Clarified

POLAND

• Ruling: No Right to Recover VAT Tax in Connection with Road Construction Task
• What’s next for KSeF? There are more and more arguments for postponing the deadline

ROMANIA

• Turmoil in Romanian E-Invoice Mandate Sparks Entrepreneurial Frustration

SPAIN

• Spain takes a step towards digitalisation of the invoicing function
• Spain to Remove VAT on Olive Oil Sales in Effort to Curb Inflation and Rising Prices
• Webinar & Q&A – Technical regulations for B2B electronic invoicing in Spain

SRI LANKA

• Sri Lanka’s Circular on VAT Registration for Previously Exempt Goods and Services

TAIWAN

• Guide to 3 shopping tax refund methods for foreign tourists visiting Taiwan

TOGO

• Togolese Government Raises VAT in Hospitality Sector as it Recovers from Covid

TURKEY

• Changes in VAT Deduction for Imported Goods due to Presidential Decision
• Draft Announcement on Amendment to the General Application Communiqué of VAT Serial No. 50 Published

UKRAINE

• Can there be a negative value in line 5 and line 5.1 of the VAT declaration?
• Should the indicators of appendices 3 and 4 be specified when correcting errors in VAT budget reimbursement?
• Tax Audits 2024 & VAT: Declaration, Recalculation & Income/Expenses

UNITED KINGDOM

• Changes to Insolvency – VAT Deregistration Mailbox: Automatic Confirmation and VRT23 Letter
• Checklist for Transitioning to the Customs Declaration Service for Exports
• Revamping VAT System: Unlocking Billions and Boosting Small Business Growth
• The Impact of Bolt Services Ltd’s VAT Win on Private Hire Operators
• Understanding the Complexities of VAT and Intercompany Recharges: Risks and Considerations
• Understanding VAT Rules for Business Gifts, Meals, and Parties: A Comprehensive Guide
• Updated Guidance on Using Alternative Dispute Resolution for VAT Disputes with HMRC
• VAT Treatment of Walkers Snack Foods Ltd’s Sensations Poppadoms: Appeal Dismissed

URUGUAY

• Uruguay e-invoicing CFE update
• Uruguay Implements Zero VAT Rate on Hotel Services for Resident Tourists During Summer Season
• Uruguay introduces zero VAT rate on hotel-related services to resident tourists for the summer season

VIETNAM

• Proposed Amendments to Vietnam’s VAT Law: Key Measures and Implications

WEBINAR/EVENT

• Webinar – VATupdate x Fonoa – Global E-Invoicing 2024: From Provider Selection to Ownership (Jan 24, 2024)

WORLD

• Enhancing Fashion Industry Efficiency: Top 7 Benefits of Adopting EDI
• VATupdate.com Daily Newsletter: January 15 & 16, 2024

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