VATupdate.com Daily Newsletter: April 6 & 7, 2024

What happens today – Singapore: Youth Day honors the youth of Singapore and encourages their active participation in society

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Headlines April 6 & 7, 2024

• E-Invoicing & E-Reporting developments in the news in week 13 & 14/2024
• Current status of E-Invoicing in Asia Pacific
• Poland – Consultations open for the draft amendment to the KSeF obligation
• Fiscalization in Spain: SIF Options – Verifactu, Non-Verifactu, or Both?
• IMF Working Paper – Designing a Progressive VAT (Artur Swistak; Rita de la Feria)

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• Follow the VATupdate.com Channel now on Whatsapp
• ecosio webinar – E-invoicing is becoming mandatory in Germany – What you need to know (April 11)
  
• Event: E-Invoicing Exchange Summit in Miami – April 22-24, 2024
• RTC Webinar – Exploring Malaysia e-Invoicing: Compliance, Implementation, and Technical Aspects (April 17)

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• VATupdate Newsletter Week 13 2024
• E-Invoicing
  • Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
  • Timeline of B2B E-Invoicing & E-Reporting mandates in the European Union
  • Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in March 2024
  • E-Invoicing & E-Reporting developments in the news in week 12/2024
• ECJ
  • ECJ VAT Cases decided in 2024
  • Agenda of the ECJ VAT cases – 4 Judgments, 2 AG Opinions announced till April 25, 2024
  • 1002 ECJ VAT Cases are now available on www.vatupdate.com
  • This is what happened in the ECJ (VAT) in March 2024 – Clean-up time, 2 Orders, 2 Cases Removed
• VAT Rates
  • VATupdate.com: Noteworthy VAT Updates and Rate Changes in March 2024
  • Global Upcoming VAT Rate changes – Chronological

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ASIA PACIFIC

• Current status of E-Invoicing in Asia Pacific

AZERBAIJAN

• Number of active VAT payers increased by 3.9% to 768.1 thousand in April 2024
• Successful Implementation of VAT Refund Project Results in Return of 43.8 Million Manats

BAHRAIN

• Updated VAT Transportation Guide released by National Bureau for Revenue (NBR)

BANGLADESH

• VAT Pressure in FY25: Concerns of Inflation Rise and Revenue Generation Stakeholders

CHINA

• Notice of Temporary Suspension of Tax-related Services for Purchase
• Notice of Upgrade to Version 2.0 of VAT Invoice Management System by Yunnan Tax Bureau

ECJ

• Incorrect VAT amounts in invoices to end consumers: ECJ

FRANCE

• French E-invoicing Decree Enacted

INDIA

• Framework for conducting Joint Audit by CGST and SGST officers
• Kerala GST Dept. issued an Important circular on Non-issuance of notices in case of voluntary compliance
• Online Gaming & Casino tops GST evasion cases

NETHERLANDS

• Court Decision on VAT Exemption for Financial Services in Coin Trading
• Interpretation of ‘lectures’ and ‘similar services’ for VAT exemption in higher education courses
• No VAT exemption for RuneScapecoins trading as they serve entertainment purpose, not as currency
• Supreme Court Decision on VAT Exemption for Elderly Higher Education: Reversal of Lower Court Ruling
• Supreme Court: Tax Deduction for Solar Panels Investment by Water Board for Economic Activities
• Taxation of Higher Education Courses for Individuals Aged 50 and Over
• Taxation of HOVO courses offered by Stichting X
• VAT Ruling on Solar Panel Installation by Water Board Upheld

NORWAY

• 20th edition of the Norwegian VAT Handbook

PHILIPPINES

• Mandatory E-invoicing in the Philippines. Is Your Company Ready?

POLAND

• Consultations open for the draft amendment to the KSeF obligation
• Lowered VAT Rate for Beauty Industry: Potential Abuses Ahead?
• Poland Ministry of Finance Seeks Feedback on VAT E-Invoicing Amendment Consultation
• Poland’s New Reporting Legislation for Digital Platforms: DAC7 Implementation and Key Provisions
• Proposed Amendments to Legislation for Mandatory KSeF: Consultations and Implementation Deadlines

ROMANIA

• Romania Extends Grace Period for E-Invoicing Compliance: No Fines Until May 31, 2024

SAUDI ARABIA

• The Evolution of e-Invoicing in the Saudi Arabia (KSA): Entering Wave 10 of the Integration Phase

SLOVAKIA

• CESOP Form Now Published for Reporting Cross-Border Payments in Slovakia by April 30, 2024

SOUTH AFRICA

• Retention and Maintenance of Documents for Gold Refinery Agents under VAT Act

SPAIN

• Fiscalization in Spain: SIF Options – Verifactu, Non-Verifactu, or Both?

UNITED KINGDOM

• Registration for VAT – New Guidance for Non-Established Taxable Persons
• UK CBAM: Implications for Carbon-Intensive Imports – Deloitte Insights Blog
• Understanding VAT Rules for Overseas Supplies

UNITED STATES

• Maryland Waives Late Withholding Tax Penalties Until May 31

VIETNAM

• Mandatory Electronic Invoicing in Vietnam
• Tax Department Urges Resolution of Pending Tax Refund Cases to be Completed

WORLD

• Amadeus and Taxera Partner to Revolutionize E-Invoicing for Global Travel Sellers
• Data archiving and cybersecurity: Working hand-in-hand for vulnerabilities
• E-Invoicing & E-Reporting developments in the news in week 13 & 14/2024
• Four Keys to Developing the Right Tax Tech Strategy
• IMF Working Paper – Designing a Progressive VAT (Artur Swistak; Rita de la Feria)
• VATupdate.com Daily Newsletter: April 5, 2024

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