Helicopter Ride
We think that VAT is fun. Which is not always the same as funny. VAT usually gets a smile on our faces, but mainly because of the topic, the interpretation of the rules, or a specifically interesting comment or observation, instead of a funny punchline. Some jokes are funny, other are not. It usually depends on the timing, the audience and the situation. What one person finds funny, another finds offensive, or simply not funny.
Yet, by lack of anything better, here’s a joke to enlighten your day:
Walter took his wife Ethel to the state fair every year, and every time he would say to her, “Ethel, you know that I’d love to go for a ride in that helicopter.” But Ethel would always reply, “I know that Walter, but that helicopter ride is 50 dollars and 50 dollars is 50 dollars.”
Finally, they went to the fair, and Walter said to Ethel, “Ethel, you know I’m 87 years old now. If I don’t ride that helicopter this year, I may never get another chance.” Once again Ethel replied, “Walter, you know that helicopter is 50 dollars and 50 dollars is 50 dollars.”
This time the helicopter pilot overheard the couple’s conversation and said, “Listen folks, I’ll make a deal with you. I’ll take both of you for a ride; if you can both stay quiet for the entire ride and not say a word I won’t charge you! But if you say just one word, it’s 50 dollars.”
Walter and Ethel agreed and up they went in the helicopter. The pilot performed all kinds of fancy moves and tricks, but not a word was said by either Walter or Ethel.
The pilot did his death-defying tricks over and over again, but still there wasn’t so much as one word said.
When they finally landed, the pilot turned to Walter and said, “Wow! I’ve got to hand it to you. I did everything I could to get you to scream or shout out, but you didn’t. I’m really impressed!”
Walter replied, “Well to be honest I almost said something when Ethel fell out but, you know, 50 dollars is 50 dollars!”
Let us know if this joke put a smile on your face. And if it didn’t we’ll try and find a better one for you next time. If that won’t get you laughing, you can always try and call HMCR and ask for the status of your VAT registration request: that’s the biggest joke right now in the VAT world. Communicating with HMRC is a nightmare, which may well be appropriate during Halloween, but which is making companies cry. All that, while we started off by saying: VAT is fun!
If you have any comments, questions, or ideas that you want to share with us, please send us an email at info@vatupdate.com or leave a comment under the posts of this newsletter on LinkedIn.
To go to the specific region of your interest, follow the link below.
WORLD
- Job opportunities in Hungary, Saudi Arabia, United Kingdom
- Job opportunities in Finland, the Netherlands, Poland and Switzerland
- Job opportunities in Finland, India, the Netherlands and Switzerland
- What is GST (And Which Countries Have It)?
- Global VAT rate changes announced in week 42 (week of Oct 17, 2022)
- Free eBook : “The Rise of the Tax Technologist”
- United Nations – Committee of Experts on International Cooperation in Tax Matters 25th session (Oct 18-21)
- Calendar – Events and Webinar from our partners
- Receipt Lottery: Essential Considerations
- Import VAT documentation: Set your records straight
- VAT TV October 2022 news
- WTO-WCO workshop discusses update of classification system for traded goods
- OECD and UN | Tax Inspectors Without Borders publish Annual Report 2022
- International Trade Policy Developments Q3 2022
- Global Tax Policy and Controversy Watch – October 2022 edition
- The proliferation of e-invoicing mandates
- Speaking the e-invoicing language – common technical terms and concepts you should know
- E-Invoicing/E-Reporting Updates Oct 10-17, 2022 – Major updates in China, France, Italy, Saudi Arabia, India, ….
- UN Publishes Draft Resolution for International Convention on Tax Cooperation
WEBINARS / EVENTS
- Vertex Webinar: Addressing the Challenges of Global Invoicing (November 8, 2022)
- Vertex Event: Indirect tax for eCommerce global growth (Nov 15, London)
- Sovos webinar: Selling on Marketplaces: 4 Steps to Keep your Business VAT…
- Sovos webinar: 5 Key VAT Considerations When Expanding Cross-Jurisdiction (Oct 27, 2022)
- SNI Webinar – RO e-Factura & RO e-Transport: What to know about Romania’s current regulations (Oct 26)
- Sovos WHITE PAPER Your SAP S/4 Migration and ‘Always On’ VAT Compliance Are on a Collision Course – Here’s How to Manage
- Webinar Pagero: Essential updates on the e-invoicing mandate in France (Nov 17, 2022)
- On-Demand webinar Pagero – The upcoming e-invoicing mandate in Belgium. What to expect?
- Vertex Webinar: Addressing the Challenges of Global Invoicing (8 november 2022)
- Free eBook : “VAT Compliance Managed Services”
- Free webinar: GloBE, taxing rights and VAT on cross-border transactions, all from China’s perspective…
- Impressions from the E-Invoicing Exchange Summit – Lisbon – Sept 2022
AFRICA
- Push to scrap VAT for these food items
- Frequently Asked Questions on BGRs 40 and 41: Non-executive Directors (VAT and PAYE) (Issue 2)
- VAT Quick Reference Guide for Non-Executive Directors (Issue 3)
AMERICAS
- Tax code revised to include provisions on electronic tax documents
- El Salvador Introduces Legal Framework for E-invoicing System
- Guatemala FEL VAT e-invoicing rollout completes
- Guatemala will oblige small taxpayers to issue e-invoices
- Changes to VAT regulation in order to issue invoices as “final consumer”
- Pennsylvania: Remote Sales via Amazon FBA Did Not Create Sales Tax and Personal Income Tax Nexus
- More Questions than Answers as Washington Holds NFT Listening Session
- Are Out-Of-State FBA Sellers Exempt From Sales Tax Collection In Pennsylvania?
- Maryland Circuit Court Strikes Down Novel Gross Receipts Tax on Digital Advertising Services
- Texas: Letter Ruling Addresses Car-Sharing Platform and Motor Vehicle Gross Rental Receipts Taxation
- Texas Comptroller of Public Accounts Clarifies Policy on Taxability of Wrapping and Packaging Supplies
- Watch out for marketplace facilitator compliance obligations
- US Implements new technology export controls on China
- USTR announces next steps in statutory four-year review of China 301 tariffs
- Maryland Court Holds Digital Advertising Tax is Unconstitutional
- Tricky items for sales tax (Part 2)
- SaaS and Taxes: Is it Taxable Software or a Non-Taxable Service?
- Rhode Island Implementing Changes to Sales and Use Tax Return Beginning January 2023
- New York: Employment Verification Services Not Subject to Tax
- Arizona Business Owner Complains Louisiana Sales Tax is Unconstitutional for Out-of-State Sellers
- Maryland Enacts New Tax on Digital Advertising
- Digital photography service not subject to sales and use tax (Mississippi)
- Nexus litigation (multiple states)
- Taxability of information services (Texas)
- Sales of subscriptions to electronic publications (Tennessee)
ASIA PACIFIC
- US Implements new technology export controls on China
- USTR announces next steps in statutory four-year review of China 301 tariffs
- ‘Parental Corporate Guarantee’ is it a Landmine for Corporates & GST Implications?
- Transport Charges not Taxable Service as not provided by Goods Transport Agency
- Refund of GST on Exports made as Zero-Rated Supply: Allahabad HC to examine vires of Rule 96(10)(b) of CGST Rules
- Industrial units to get 50% rebate in VAT in Haryana for using natural gas
- Abolish GST on handloom, textile, KTR writes to PM Modi
- Subleasing Of Containers; Deemed Sale , Service Tax Not Applicable ; Bombay High Court
- GST has begun to deliver, State finances healthier: FinMin
- ICAI prohibits use of ‘Chartered Accountant’ or ‘CA’ by Members while using Social Media
- Daily GST Updates – October 22, 2022
- Cotton Seed not Eligible for GST Exemption on GTA Services, Attracts 5%: AAR
- Taxpayers cannot file GSTR-1 on If did not file Previous GSTR-1 or GSTR-3B from 1st November, says GST Portal
- Relief to Bharti Airtel: CESTAT holds ‘Antenna’ for Base Station are classifiable as ‘Parts’
- Equalization levy could not be imposed on online advertising charges (tribunal decision)
- Doctrine of promissory estoppel cannot be invoked against legislative action (Supreme Court…
- Daily GST Updates – October 21, 2022
- CESTAT sets aside demand of Cenvat Credit of One lakh on Manufacture of Emulsion Matrix
- CESTAT sets aside Penalty imposed on Duty Liability of Input Tax Credit availed in respect of Electricity Cogeneration plant
- Strategy to become a USD 5 trillion economy
- Charitable Activities not Amount to ‘Supply’: Reimbursement by Maharashtra Govt to Trust for One Stop…
- Breaking: GSTR-3B Due Date Extended due to Technical Glitches in GST Portal
- Payment of Pre-deposit through Form GST DRC-03 for Service Tax / Excise Matters: Bombay HC…
- GST Council to meet before mid-November, tax on casino, online gaming on agenda
- GST Portal Issues: GSTR-3B Due Date May be Extended
- Increases Windfall Tax on Domestic Oil Production
- Daily GST Updates – October 19, 2022
- Government mulling one-time settlement for businesses over minor GST offences
- Cotton Seed is not Agricultural Produce under GST Act: AAR
- Multi System Operator liable to pay Service Tax only on Gross amount received by them from LCO
- GST common portal opening extended to file or revise Forms TRAN-1 and TRAN-2 (Supreme Court…
- GST Offences: Govt to Introduce One-Time Settlement to Avoid Litigations
- Ola, Uber can Charge 10% Surcharge along with GST: Karnataka HC directs Govt to Fix Fare of App-based Autorickshaws within 15 Days
- Daily GST Updates – October 18, 2022
- AAR & AAAR Weekly Round-Up
- CESTAT Weekly Round-Up
- One-time offer to settle minor GST offences in works
- GSTR-3B Due Date is 20th October: GST Portal Reminds Monthly Filers
- CBIC On Different Types of Declared Services under GST
- Weekly GST Communique – Week 3 Oct 2022
- GST Order Passed without providing Adequate Time to Respond to SCN is ‘Patently Illegal’:…
- ‘Electronic’ Filing of Reply to SCN in Form GST-DRC-06 is Not Mandatory, rules Madras HC
- Daily GST Updates – October 17, 2022
- India B2B e-invoicing threshold drops to ₹5 January 2023
- Daily GST Updates – October 16, 2022
- Orissa HC permits Filing of GST Returns Prior to Cancellation of Registration, Directs Govt to Make Suitable Changes on GST Portal
- Handling of Export Cargo not taxable under Cargo Handling Service: CESTAT sets aside demand of Service Tax
- Measures proposed to bring operators of electronic marketplaces within the scope of GST
- IRD announces changes to GST Invoicing System
- New GST invoicing and record keeping rules
EUROPE
- ECJ C-412/21 (Excise) Suspension of excise license based on suspicion according to AG ECJ not contrary to EU law
- EU Court Clarifies How VAT Applies to Customs Agents
- Hamamatsu’s final judgment finally delivered. Now it’s the turn of the European Commission!
- Comments on C-397/21: Erroneously charged VAT is not deductible and must be credited. But what if the supplier has vanished?
- Comments on ECJ C-194/21: ECJ clarifies Dutch rules on VAT deduction via the adjustment mechanism
- Comments on ECJ C-98/21: Mixed holding companies – Is the input VAT on procured services passed on to…
- Comments on ECJ C-250/21: VAT exemption to services provided under a sub-participation agreement
- ECJ Case: Preliminary ruling on Polish VAT exemption rules
- ECJ C-643/22 (BPL Pensioen) – New Case – Details not yet released
- ECJ C-642/22 (Pensioenfonds voor Fysiotherapeuten) – New Case – Details not yet released
- ECJ C-573/22 (Foreningen C and Others) – Questions – Whether the VAT charged on the Danish media licence fee between 2007 and 2017 should be refunded
- Comments on ECJ C-235/21: Is it necessary to issue invoices in the era of digital invoicing?
- Reference documents Dutch Court on Preliminary Question to ECJ: Does the exemption for the management of mutual funds apply to a pension fund?
- Flashback on ECJ Cases – C-424/11 (Wheels Common Investment Fund Trustees and Others) – An investment fund in which the assets of a pension scheme are not in scope of the concept of ‘mutual investment funds’…
- Comments on ECJ C-571/21 (Non-VAT): AG ECJ explains how energy tax exemptions work
- Comments on ECJ C-397/21: Hungary must repay unduly paid VAT to insolvent service provider
- Comments on ECJ C-1/21: Liability for VAT debts legal entity not in conflict with EU law
- ECJ – Customs valuation based on statistical data
- Comments on ECJ C-664/21: Date up until which the evidence relating to Intra-Community supplies…
- (Part 3) Get ready for Nov 16, 2022: Digital Reporting Requirements – What is the problem?
- (Part 2) Get ready for Nov 16, 2022: Implementation of DRR lead to net annual benefits of about EUR…
- Import VAT documentation: Set your records straight
- Travel Agent’s VAT Special Scheme – Proposals of the Group on the Future of VAT
- Conclusion of the EU Commission Services as regards the VAT treatment of the supplies of fuel cards
- VAT Committee – 121th meeting – October 21, 2022 – Agenda & Working Papers
- Get ready for Nov 16, 2022: 13 Member States require all B2G invoices to be issued and transmitted as…
- EU Launches New Initiative Targeting Tax Advisers
- Zampa Debattista VAT Newsletter – Q3 2022
- Group on the future of VAT 39th meeting: Review VAT rules Travel and Tourism
- Services provided by securitization fund qualified as “granting of credit” for VAT purposes (CJEU…
- Proposal European Commission – Italy is authorized to limit the right to deduct input VAT to 40% in respect…
- Proposal by the European Commission – Bulgaria may exempt from VAT Taxable Persons whose annual turnover does not exceed EUR 51,130
- More flexibility in applying reduced VAT rates
- Reduction of the legal interest rate by 9.6%: it was time!
- Tax reform – first details of wave 1, effective as from 2023 (E-Reporting, VAT rates, Excise)
- Draft bill would extend investigation and assessment periods as from tax year 2023
- New VAT rules for hotel services and rental of furnished accommodation
- Council of Ministers approved the notifications for the long-term budget for 2023-2024
- Reduced VAT for demolition and reconstruction remains
- Timeline for the Belgian e-invoicing mandates
- New Belgian legislation with important VAT changes in the pipeline!
- Belgian Government Reaches Agreement on Budget for 2023 and 2024
- Distribution of the life insurance company’s savings products is exempt from VAT
- New rulings on the Danish VAT treatment of factoring arrangements
- How to determine the customs value?
- French Court Confirms Mutual Assistance Convention Qualifies for Purpose of Statute of Limitations for Recovery of Taxes
- Electronic invoicing – Publication of regulatory texts, update of the FAQ and publication of an FAQ dedicated to partner dematerialization platforms.
- Further details on the upcoming E-invoicing and E-reporting system are published
- France VAT B2B e-invoicing & B2C e-reporting July 2024 – new FAQ’s & deadlines
- Frequency and timing of transaction and payment data (e-reporting)
- VAT Group: reporting obligations for transactions carried out by members are set
- Information to be included on E-Invoices: New data fields
- Supreme Tax Court confirms different VAT treatment of online gambling and physical (offline) gambling
- Operation of slot machines still subject to VAT
- BFH to voluntarily pay an advance payment of VAT from the previous year before it is due within the short period of time
- Input VAT allocation according to § 15 paragraph 4 VAT Act (UStG) for mixed-use properties
- Input VAT deduction for outplacement
- Use of the country name “Türkiye” instead of “Turkey” on proofs of origin and movement certificates
- Explanation of VAT payment and refund procedure for special E-Commerce regime
- In Greece, a new method of tax checking has emerged
- Greece VAT Guide for Businesses
- Availability of online cash register data via online invoice system
- Reconsideration of electronic VAT (reporting) system to machine-to-machine concept
- Hungary VAT Guide for Businesses
- Irish Revenue Updates Manual on Excise Duty Rates on Energy Products and Electricity
- VAT measures in Finance Bill 2022 (a.o. fund management, rate newspapers, deductibility share issues)
- Budget 2023: VAT Rate changes
- Ireland VAT Guide for Businesses
- Ruling 520: Services not ancillary if performed directly by other person
- Ruling 523: 4% VAT for Halloween pumpkins only if edible
- Ruling 520: Secondary services (pest control, deratization and various maintenance) rendered with…
- New cut in excise duties and VAT until November 18, 2022
- Bankruptcy procedure: when it is possible to offset the VAT credit of professionals with tax debts
- VAT-Exemption For The Supply Of Goods And Services To Employees Of International Bodies…
- Ruling 515: Mining irrelevant for VAT purposes in the absence of the customer
- Italy update on VAT and Crypto assets
- Extended VAT concessions for healthcare services in the private sector
- Proposal: Reduced VAT Rate for cultural, sport and performance activities
- Lithuanian Parliament Consider Extension of 9% VAT Rate on Catering Services and Take-Away Food
- Lithuania accommodation and catering services VAT cut to 9% till end 2023
- Draft: Reduced VAT rate extended for restaurant/accommodation and implemented for certain repair services
- Mandatory online filing of VAT returns for certain registered persons
- Malta To Require Electronic VAT Return Filing From Feb 2023
- Mandatory E-Filing of VAT returns as of February 2023
- Simply calculate VAT on non-separated space
- Pro rata method mixed use of real estate by physical therapy practice
- The e-Invoices System (KSeF) in an e-micro-company (e-mikrofirmie)
- Tax clarifications regarding VAT groups
- Update of the test version of the KSeF Taxpayer Application
- KSeF: National System of e-Invoices: general information, structure, test zone
- Tax interpretations are still very desirable
- Criteria for identifying a fixed establishment for VAT purposes
- Poland mandatory B2B KSeF e-invoices Jan 2024 – latest
- VAT simplification measures under consideration (SLIM3)
- A further increase in interest rates for late VAT payments
- Clarifications regarding VAT grouping; criteria for identifying a fixed establishment for VAT purposes
- VAT Grouping: Official VAT clarifications are needed, although they do not explain everything
- Deliveries under VAT-OSS outside the file JPK_V7
- Poland mandatory B2B KSeF e-invoices Jan 2024 – latest
- Poland Finalizes VAT Groups Guidance
- Taxation of the donation in terms of VAT
- Russia Confirms Advertising Services Provided to Non-Residents are Not Subject to VAT
- Federal Tax Service of Russia clarified which codes tax agents should use in their VAT returns
- Slovakia publishes dates for testing IS EFA platform
- VAT deduction to be adjusted if invoice not paid within 100 days
- Spain VAT updates in budget – bad debt reform
- Integral Digital Administration (ADI): A new approach to taxpayer service
- Electronic invoicing in the private sector
- General e-invoicing obligations to apply to B2B transactions
- NFTs treated as electronically supplied services for VAT purposes
- Refund of input VAT after 4 years
- Budget 2023: Changes to Place of Supply rules, ease bad debt recovery, extend reverse charge mechanism
- Position statement: Requirement for information about the seller’s and buyer’s name and address in…
- Swedish Tax Court: The concept of mediation is once again highlighted
- Swiss vote to raise VAT to 8.1% Jan 2024 – confirmed
- Swiss Parliament approves new VAT rates applicable in 2024
- Import from Turkey to Pakistan: Shipping, Costs, and Opportunities
- Updated Guidelines for VAT Exemptions on Real Property, Shares
- What is VIP Service, What are its Advantages?
- Algorithm for filling out the data table of the VAT payer
- Is it necessary to charge VAT on the amount of funds contributed to the authorized capital?
- What date is considered the date of issuance of the MD for charging VAT in case of export of goods?
- VAT exemption for supply and import, waste and scrap of ferrous and non-ferrous metals, which were carried out during January – March 2022
- Transfer of goods/services by the main enterprise to the branch: what about VAT?
- How is VAT taxed on the supply of defence goods during the war?
- What fines await VAT payers for late registration of PN and RK: a reminder from the DPS
- Procedure for transferring sums of underpayment, fines and penalties via submitting a clarifying calculation to the VAT tax return
- Which VAT payers can receive a budget refund?
- The nuances of submitting a data table by a VAT payer
- Supreme Court clarified UK’s position on input tax deduction in the absence of a valid VAT invoice
- VAT Retail Export Scheme – Tax Free Shopping is not Returning
- New approach to VAT treatment of compensation/termination payments
- UK extension on MTD 7th November 2022 deadline
- UK Consulting on Digital Platform Reporting Regulations
- VAT Registrations – where are you HMRC?
- Cash accounting not available for reverse charge supplies
- Supreme Court: VAT assessments – time bar – reduction to claimed VAT credits
- Input VAT claims allowed for Harrods Steam vouchers
- Open consultation – Draft regulations: The Platform Operators (Due Diligence and Reporting…
- UK Chancellor of the Exchequer Brings Forward Medium-Term Fiscal Plan Measures
- Charities, You May Be Entitled To A 5% VAT Rate On Your Energy Bills!
- HMRC Guidance: Domestic reverse charge procedure (VAT Notice 735)
- UK Uber pushes for 20% VAT obligations on all private taxi operators
- UK Mini Budget Reversal: scrapping of VAT free shopping scheme an unfortunate loss
- Partial exemption de minimis relief
- HMRC Guidance: Refunds of UK VAT for non-UK businesses (VAT Notice 723A)
- Electronic Trade Documents Bill introduced
- ‘No fee, no charge’ does not mean there is no consideration – UK Tribunal
MIDDLE EAST
- KPMG GCC Tax News – 19 October 2022
- Saudi negotiating team prepares for GCC free trade talks with South Korea
- Bahrain Tax Alert: How to prepare for a NBR field audit (18 October 2022)
- Bahrain plans to introduce electronic invoicing
- Preparing for VAT field audits
- Mirna Develops Blockchain VAT Platform: Oman Ministry Acknowledges
- Oman updates VAT Executive Regulations
- Oman updates VAT Executive Regulations
- Amendments to VAT executive regulations
- Decision to amend certain provisions of Oman VAT Executive Regulations
- OTA published new amendments on VAT Executive Regulation (Arabic)
- Tax Insights and Updates – Saudi Arabia
- Adding a new paragraph to Article 33 of the executive regulations of the value-added tax system
- Five years passed since the implementation of Excise Tax in the UAE
- Federal Tax Authority: Positive effects reflecting success of implementing Excise Tax in UAE
- Zero rating of supply of medications and medical equipment under UAE VAT
- Freezones Tax Incentives