VATupdate.com Daily Newsletter: April 19, 2024

What happened on April 19

Education and Sharing Day, U.S.A.: Observed four days before Passover, this day emphasizes education and sharing.

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Headlines April 19, 2024

• VATupdate.com Daily Newsletter: April 18, 2024
• ECJ C-68/23 (Finanzamt O) – Judgment – Definition of single-purpose and multi-purpose vouchers
• ECJ Case C-89/23 (Companhia União de Crédito Popular) – Judgment – Auction services for pledged goods are a separate service not linked to the related…
• Slovakia: eFaktúra Plans Revealed
• Switzerland – Upcoming Changes in Swiss VAT Law for Travel Agencies and Cultural Events in 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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ALBANIA

• Tax Representation in Albania: Registration, Duties, and Deregistration Process Explained

BOLIVIA

• Bolivia Implements New Export Tax Refund Regulations for Faster Processing and Compliance

BOSNIA AND HERZEGOVINA

• Republic of Srpska Launches Initial Fiscalization for First Group of Taxpayers: Public Call Published

CANADA

• Enhanced GST Rental Rebate for Student Residences in Not-for-Profit Educational Institutions
• Incentives for Purpose-Built Rental Housing: Accelerated CCA Rate and EIFEL Exemption for Eligible Projects
• Boosting Housing Affordability: GST exemption for new rental housing and student residences
• Understanding Substantial Renovations and GST/HST

CHINA

• Thailand to Implement VAT Reverse Charge Scheme for Scrap Metal Industry
• China’s New ‘Reverse Invoice’ Scheme to Benefit Recycling Sector and Small-Scale Sellers
• China Implements VAT Reverse Charge for Scrap Dealers to Combat Tax Evasion

DEMOCRATIC REPUBLIC OF CONGO

• Democratic Republic of the Congo: VAT on Cross-border Digital Services

EUROPEAN UNION

• European Commission issues binding valuation information rules and conditions for decisions on binding tariff and binding origin information
• Navigating CESOP: Understanding EU Cross-Border Payments Reporting Requirements for Payment Service Providers

EUROPEAN UNION/GERMANY

• ECJ C-68/23 (Finanzamt O) – Judgment – Definition of single-purpose and multi-purpose vouchers

EUROPEAN UNION/NEW ZEALAND

• Preparing Your Business for the NZ-EU Free Trade Agreement

EUROPEAN UNION/PORTUGAL

• ECJ Case C-89/23 (Companhia União de Crédito Popular) – Judgment – Auction services for pledged goods are a separate service not linked to the…

FINLAND

• Finnish Government’s Public Finance Plan 2025-2028: VAT Increase

FRANCE

• Clarification on the applicable VAT rate for board games

GREECE

• Greece will suspend VAT on construction as part of the 2025 budget

HUNGARY

• New Hungarian ECJ VAT case: Pegazus Busz Case C-262/24

INDIA

• Government Considers GST Relief for Foreign Airlines and Shipping Lines Post Elections

INDONESIA

• Extension of VAT Facility on Residential Property Sales until December 2024

• Extension of VAT Facility for Qualifying Battery-Based Electric Vehicles
• Amendment to Import Duty Tariffs for BEVs to Promote Transition to Electric Vehicles

ITALY

• Failure to pay VAT takes precedence over business continuity: legal implications of non-payment.
• VAT Exemption for Aesthetic Medicine: Conditions and Requirements Explained
• Exercise VAT options within VO framework by April 30, 2024, no need for those in 2024 flat-rate regime

NETHERLANDS

• Magic truffles taxed with 21% VAT (now Arnhem-Leeuwarden Court of Appeal)
• Incidental VAT Actions: A Case Study on Taxation of One-off Transactions in the Netherlands

NEW ZEALAND

• New Zealand’s Digital Platforms Now Subject to GST
• -Guidance on GST Grouping Rules in New Zealand

PAKISTAN

• Amendment in Sales Tax Act for CNG Consumers by Federal Board of Revenue

PHILIPPINES

• Implementation of EOPT Act Amendments on VAT and Percentage Tax: Revenue Regulation 03-2024

POLAND

• Ruling: Exemption for Energy Performance Certificates and Audits
• VAT on Purchase of Food for Employees and Contractors

RWANDA

• Rwanda’s New Regulations on Commercial Rental Properties

SINGAPORE

• Singapore: Timeline for Implementation of InvoiceNow Revealed
• Singapore and NZ Prime Ministers announce eInvoicing Memorandum of Agreement

SLOVAKIA

• Slovakia: eFaktúra Plans Revealed
• Slovakia Proposes Anti-Fraud Measures to Close VAT Gap: Changes in VAT Deductions and Investment Property

SWITZERLAND

• Upcoming VAT Changes: Impact on Travel Agent Services and Cultural Events in Switzerland
• Upcoming Changes in Swiss VAT Law for Travel Agencies and Cultural Events in 2025

THAILAND

• Thai Cabinet Approves Extension of VAT Exemption for Digital Asset Trading Effective January 2024

TURKEY

• Turkish Tax Authority using AI to tackle VAT discrepancies
• Turkey’s Proposed VAT Rate Clarifications

UNITED KINGDOM

• Consultation on New VAT Relief for Charitable Donations of Everyday Items
• 2024 Revenue & Customs Brief 5: TOMS for B2B Wholesale Supplies
• HMRC Updates VAT Fuel Scale Charges for 2024-2025 Period
• Consultation on VAT Treatment of Private Hire Vehicles
• New HMRC Template for DIY Builders VAT Refund Claims

UNITED STATES

• Florida Decreases Sales Tax Rate on Commercial Rentals Effective June 1, 2024
• Emergency Supplies Tax-Free Weekend: Stock Up on Essentials for Disaster Preparedness April 27-29 (Texas)
• Navigating Sales Tax Compliance in the USA for International Companies

WEBINARS / EVENTS

• Sovos Webinar – VAT Snapshot: Navigating the Latest Global E-invoicing Requirements (May 2)

WORLD

• Adopting generative AI in VAT
• VATupdate.com Daily Newsletter: April 18, 2024

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