VATupdate.com Daily Newsletter: April 18, 2024

What happened on April 18

On this day in 1506, construction began on St Peter’s Basilica in Vatican City. 120 years later, construction was completed.

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Headlines April 18, 2024

• Agenda of the ECJ VAT cases – 5 Judgments, 5 AG Opinions announced till May 16, 2024
• E-Invoicing in Proving Costs and Expenses in Egypt
• UK Raises VAT Registration Threshold from £85,000 to £90,000
• Singapore introduces a phased CTC e-invoicing obligation from 1 November 2025

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• VATupdate Newsletter Week 15 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 13 & 14/2024
• 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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AUSTRIA

• Judgment on VAT for new vehicle purchase overturned due to legal error.

AZERBAIJAN

• Reimbursement of 1.2 Million Manat VAT to Consumers in Nakhchivan under “VAT Refund” Project
• Number of active VAT payers in Nakhchivan increased by 12.4% reaching 481.

CONGO

• 2024 Tax Changes in Democratic Republic of the Congo: Revised Advance Payment Requirements

CZECH REPUBLIC

• VAT Act Amendment Effective from 1 January 2025: Ministry of Finance Updates and Changes

CZECH REPUBLIC/EUROPEAN UNION

• ECJ ruling on late VAT registration and retroactive loss of non-taxpayer status in C‑122/23 Legafact
• CJEU Ruling Excludes Children’s Playrooms from Reduced VAT Rate: Impact on Czech Businesses
• Clarifying VAT Correction Rules: Case C-606/22 and Unjust Enrichment Impact on Tax Refunds

EGYPT

• E-Invoicing in Proving Costs and Expenses in Egypt

EL SALVADOR

• The Electonic Invoice in El Salvador

EUROPEAN UNION

• BAFA announces removal of reporting requirements for EU general authorizations
• Agenda of the ECJ VAT cases – 5 Judgments, 5 AG Opinions announced till May 16, 2024

FINLAND

• Fazer, The Food Experience Company, Concerned Over Finnish Government’s Proposal to Increase VAT on Confectionery Products

FRANCE

• French Tax Authorities conclude general VAT rules apply to NFTs

GERMANY

• Germany’s Digital Revolution: E-invoicing Requirement Will Come into Force in 2025
• Abolition of Cuxhaven Free Zone: Background, Benefits, and Implications of Proposed Law Changes
• No Reform of Value Added Tax in Current Legislative Period: Government Announcement

INDIA

• IGST is not payable under RCM for services in Free-on-Board and Cost Insurance Freight Contract

ITALY

• VAT Exemptions for Free Transfers to Municipalities: Clarification by Revenue Agency
• Deadline for 2023 VAT deduction approaching: Submit by April 30, 2024 for previous year invoices.

KENYA

• National Assembly Finance Committee chairman: Proposal to Reduce VAT in 2024

LEBANON

• Lebanon Raises Non-Resident Withholding Tax and VAT Registration Threshold for Goods and Services

LIBERIA

• Liberian Tax Administrators Receive VAT Technical Training for Effective Implementation

NETHERLANDS

• Default penalty for failure to file a VAT return on time is appropriate and required
• Final closure of the Dutch Old Portal for Online Submissions
• No pecuniary title in the event of delivery of the school by the municipality
• Sale of residential plots after exchange for commercial buildings is economic activity

PHILIPPINES

• Taxing Digital Services: Streamlining the Philippines’ Tax Regime for Economic Growth

POLAND

• VAT Exemption for Cultural Equipment Purchase Project – Official Interpretation Letter of Tax Office
• Establishing paid easement of transmission not always subject to VAT: legal implications clarified.

RUSSIA

• Update on Russia Sanctions FAQs: Clarifications on Approval Procedures and Cross-Border Services under Art. 5n EU Regulation

SINGAPORE

• Singapore introduces a phased CTC e-invoicing obligation from 1 November 2025
• Singapore Mandates InvoiceNow for GST-Registered Businesses
• Mandatory GST InvoiceNow Requirement for Businesses: Implementation and Phased Adoption Plan

SLOVAKIA

• Draft Bill by Ministry of Finance Aims to Reduce VAT Gap

SLOVENIA

• Slovenia VAT group introduction

SPAIN

• TEAC Resolution on VAT Excess Quotas: Compensation vs Refund Option
• TEAC Resolutions on VAT Deductions: Temporal Requirements and Start of Expiry Period
• Government Approves Tax Exemption Order for Enterprise Development

SWITZERLAND

• Fiscal Representation Exemption by 2025 in Switzerland
• Switzerland Introduces Annual Reporting Period in 2025

TURKEY

• Turkish Treasury Minister Şimşek Denies VAT Rate Increase on Food and Beverages
• Press Release Regarding Draft on VAT Rate in Food and Beverage Services Application

UKRAINE

• Tax implications of writing off intangible assets: VAT on software. How does it work?

UNITED KINGDOM

• UK Raises VAT Registration Threshold from £85,000 to £90,000
• Packaging EPR Obligation in the UK: A Guide for Amazon Sellers
• Managing Aged Creditors: Essential for Bad Debt VAT Compliance
• VAT Treatment of Government Funding Agency Grants for Education Services: FTT Case Analysis
• Navigating UK VAT Obligations in the Healthcare Sector: A Case Study on Medical Services
• HMRC Updates VAT Notice 742A: Changes to OTT Acknowledgement Process and Authorised Signatories
• Court of Appeal Upholds HMRC Decision on VAT Groups and Time of Supply
• Understanding VAT Invoice Requirements: Guidance from HMRC for Sales Invoices Clarification

VIETNAM

• Enhancing Value Added Tax Policy – Driving 3 Economic Growth Motivations

WORLD

• VATupdate.com Daily Newsletter: April 17, 2024

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