VATupdate.com Daily Newsletter: February 12, 2024

Headlines February 12, 2024

• VATupdate Newsletter Week 6 2024
• Agenda of the ECJ VAT cases – 4 Judgments, 3 AG Opinions, 2 Hearings announced till March 14, 2024
• Transfer Pricing and VAT: The Court of Justice’s Role in Bringing Clarity

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• VATupdate Newsletter Week 5 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 6/2024
  • Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in January 2024
  • 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 – 5 Judgments, 1 Hearing announced till March 7, 2024
  • 1002 ECJ VAT Cases are now available on www.vatupdate.com
  • This is what happened in the ECJ (VAT) in January 2024
• VAT Rates
  • VATupdate.com: Noteworthy VAT Updates and Rate Changes in January 2024
  • Stay tuned on upcoming VAT rate changes in Asia Pacific
  • Stay tuned on upcoming VAT rate changes in Europe

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BOLIVIA

• Bolivia Identifies Taxpayers with Invalid VAT Invoices for Credit and Deduction

CANADA/ EUROPEAN UNION

• European Commission Grants Canada DAC7 Equivalence for Automatic Exchange of Information on Digital Platforms

COLOMBIA

• Colombia extends deadlines for e-invoice and electronic equivalent document adoption

DENMARK

• Disallowed deduction for expenses for purchase VAT for purchase and construction of orangery
• Service Window for Annual Statement, Advance and VAT Declarations on 12 Feb 2024

ECUADOR

• Updates to Electronic Invoicing in Ecuador: Second Supplement No. 467 Published

EUROPEAN UNION

• Agenda of the ECJ VAT cases – 4 Judgments, 3 AG Opinions, 2 Hearings announced till March 14, 2024
• Comments on ECJ C-733/22: Application of reduced VAT rate not dependent on classification certificate
• European Commission Implements Common Data, Format Requirements For Exchange, Storage of Customs Information
• Reduced VAT rate for hotels not tied to national classification, says EU Court
• Transfer Pricing and VAT: The Court of Justice’s Role in Bringing Clarity

EUROPEAN UNION/ GERMANY

• European Commission Urges Germany to Comply with EU VAT Rules for Private Tuition Services

EUROPEAN UNION/ GREECE

• Greece asked to remove excise duty exemption for tax-free shops at land borders

EUROPEAN UNION/ PORTUGAL

• ECJ Judgement: VAT Application for Subscription Gifts to New Subscribers

EUROPEAN UNION/ UNITED KINGDOM

• Changes to Northern Ireland’s VAT accounting schemes for distance sales and penalties regime

FRANCE

• Will hotels, Airbnb, and para-hotel establishments have to pay VAT in 2024?

GERMANY

• FG of Saarland – whether German late payment interest rules are compatible with Union law

GHANA

• Ghana Ministry of Finance Suspends 15% VAT on Residential Electricity Consumption
• Ghana suspends 15% VAT on residential electricity usage after consultations with stakeholders
• Ghana Suspends Implementation of 15% VAT on Residential Electricity Consumption

INDIA

• GST Council to Address Co-insurance and Re-insurance Issues in Upcoming Meeting
• Industry Urges Government to Double GST Registration Threshold Limit to Rs 40 Lakh
• Weekly GST Communique dated February 12, 2024

IRELAND

• Irish Publicans Rally to Restore 9% VAT Rate for Food in Election Year

ITALY

• Professionals and expense recharging: what is the most convenient solution for VAT purposes?
• Reimbursable costs related to guarantees in group VAT are extended by Cassation

KENYA

• KRA Announces New Dates for Pre-Filled VAT Returns Implementation in Kenya
• VAT return pre-filled from February 2024

KUWAIT

• Kuwait no VAT before 2028

MALAYSIA

• Malaysia Introduces New e-Invoicing System to Boost Digital Economic Growth
• Malaysia Released a New e-Invoice Guideline and Software Kit (SDK)
• Royal Malaysian Customs Department Provides Draft Guide on Increase in Service Tax Rate and Expanded Scope

MALTA

• Understanding the 12% VAT Rate for Pleasure Boat Rentals in Malta

MOLDOVA

• Moldova Amends Regulation on VAT Refund Programme for Farming Entities

NETHERLANDS

• Deductibility of VAT on renovation costs for rented holiday home to director
• Despite the remnant of the wall, the plot is undeveloped
• Dutch Supreme Court provides step-by-step plan for VAT classification of land with remaining buildings

NETHERLANDS

• No VAT deduction on services for sale of shares – costs partially exempt
• Registration under DAC7 is separate from determining if a seller is a national entrepreneur

PAKISTAN

• Insurance Sector Contributes Rs 10.15 Billion in Sindh Sales Tax, Highlighting Economic Significance

POLAND

• Asian fraud on electric bicycles: Attempt to avoid VAT payment.
• KSeF will make correction notes a thing of the past
• Lower VAT for the beauty industry from when? If in Ireland, then why not in Poland
• New Implementation Date for E-Invoice in Poland to be Announced in April or May
• Official Schedule for Poland’s KSeF e-Invoicing System Consultations: Engaging Stakeholders for a Digital Future
• Poland 2025 e-invoicing Feb-Mar consultations
• Poland Announces Resumption of Work on DAC7 Transposition
• Scheduled consultations will determine a new implementation date for KSeF
• Self-invoicing and the obligatory KSeF

ROMANIA

• Romania VAT guide 2024

SOUTH AFRICA

• South Africa commences preferential trade under the African Continental Free Trade Agreement

SPAIN

• Replacing Thermal Panels due to Damage: VAT Considerations

SRI LANKA

• SJB Government Promises to Eliminate 18% VAT on Fertiliser and Agriculture Inputs

THAILAND

• Extension of the Tax Relief for Digital Asset Trading

TURKEY

• Changes Made to the General VAT Implementation Communiqué No. 50 on VAT

UKRAINE

• How can VAT payers find out about VAT tax efficiency indicators?

UNITED ARAB EMIRATES

• FTA Issues VAT Public Clarification on Use of SWIFT Messages for Tax Recovery
• FTA Updates List of Eligible UAE Charities for Input VAT Recovery
• UAE Finance Ministry Official Confirms No Plans for VAT Rate Increase in 2024

UNITED KINGDOM

• Consultation on Draft Regulations for Alcoholic Products Excise Duty in 2024

UNITED STATES

• Revised Tax Matrix for Illinois Retailers and Marketplace Facilitators: Updated Information on Sales and Use Tax

WORLD

• VATupdate Newsletter Week 6 2024
• VATupdate.com Daily Newsletter: February 10&11, 2024

ZIMBABWE

• Zimbabwe Amends VAT Exemptions for Essential Goods and Services introduced in 2023

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