PLANNING
Preparation is important. It helps you to deal with expected and unexpected circumstances you come across in your work as well as in your personal life. It can be simple things, such as ensuring there is enough fuel in your car to reach your destination, or reading the client file before the meeting or call you have with the CEO.
When you’re young, you learn to prepare and plan. We all know the joke of the person being driven to the hospital, not so much being bothered with the fact that he/she must go there, but nervously thinking if he/she has put-on clean underwear that morning.
Before you start a project, always make sure you have the resources available. Resources consist of time, people, technology, or tools, and of course, budget. These influence each other, of course. Doing everything by yourself might be cheaper, but it may take longer. And using technology can be efficient, but also expensive.
With the summer almost behind us, it is time to start thinking about the projects and deadlines for this year. Which ones are on track, and which ones need some acceleration, or must yet be started? And how do you want to deal with them? Do you have the capacity and knowledge to do them in-house, or do you need (temporary) outside resources? Are there tools available and who can implement or adjust them for you?
It’s like going to the toilet and finding out too late that there is no toilet paper: you don’t want to be in that situation!
Make sure you’re prepared. With your VAT knowledge it should be fine, just follow our website. And consider using a freelance VAT specialist for your (temporary) need for people. We can also help you with that.
Have a wonderful week!
If you have any comments, questions, or ideas that you want to share with us, please send us an email at [email protected] 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
- A summary of the World Bank’s Carbon Pricing Report 2023
- Guess Who’s coming to dinner: The Digital Dialogue is arriving to CIAT
- Tax Master Data Management: Challenges and Solutions
- Live VAT / GST Digital Reporting & E-Invoicing Global Tracker
- Global Tax Policy and Controversy Watch | July 2023 edition
- EY TradeWatch | Issue 2, 2023
- PE Watch – Latest developments and trends, August 2023
- E-Invoicing & E-Reporting developments in the news in week 31/2023
- Adopting Generative AI in VAT
WEBINARS / EVENTS
- Vertex Exchange 2023 – Orlando (October 22-25, 2023)
- GVC Webinar: Optimizing VAT Compliance Services: Leveraging Tax Technology and…
- IBFD Training: Advanced Professional Certificate in International VAT/GST
- E-Invoicing Exchange Summit Europe: ViDA and the Major Industry Trends, Challenges and Opportunities
- Event: E-Invoicing Exchange Summit Dublin – October 2-4, 2023
- IBFD – Newsletters on the latest developments in international tax
- Are you interested in attending face-to-face trainings organized by IBFD?
AFRICA
- Managing Compliance Obligations to Reduce Risk of Tax Penalties upon Audit
- GRA Starts 10% Tax Deduction on Lottery Wins; Targets GH¢1.2bn in First Year
- Direct and Indirect Tax Administration Provisions in 2023 Mid-Year Budget Review
- Tax Education – All You Need to Know About Filing Due Dates
- Tax Reforms: VAT On Diesel Should Be Suspended – Chairman
- FG, States begin Harmonisation of Taxes
- Draft Interpretation Note – The value-added tax treatment of debt collection
- Domestic Reverse Charge Regulations
- Publication of VAT rulings
- Commercial accommodation arranged via Apps and platforms
- Changes to the VAT registration process
- Registration of foreign entities
- Notice R.3780: VAT exemption for importation of certain arms, ammunition, parts, and accessories thereof imported for testing and experimenting
- Taxing of Vaping Tobacco Products with Effect from 1 June 2023
AMERICAS
- Authorities organize informative sessions regarding Border BBO on August 17 and 18
- Additional guidance about the BBO system at the border
- Brazil Senate considers VAT reform plan
- Brazil VAT implementation – 25.45% to 27% launch rate
- IMF encourages Brazil to broaden the tax base and welcomes proposed indirect tax reform
SAINT VINCENT AND THE GRENADINES
- Ohio Supreme Court Holds that Some Fracking Equipment Qualifies for Oil and Gas Production Exemption
- Michigan: New Bulletin Addresses Taxation of Computer Software and Digital Goods
- Illinois: New Law Excludes Internet Streaming and Direct-to-Home Satellite Services from Certain Local Franchise Fees
- Colorado DOR to Hold Work Group Meeting on Law Imposing Added Penalties on Some Refund Claims
- Sales factor formula on sale of business (Michigan)
- Oil and gas sales and use tax exemption (Ohio)
- Managing Exemption Certificates – the importance of validation
- Time constraints surrounding sales and use tax
- Sales Tax and Due Diligence in an M&A Deal
- Texas Sales And Use Tax Rules for Construction-Related Services
- Five States Without Sales Tax and Everything You Need to Know
- Texas Sales And Use Tax Rules for Construction-Related Services
- Understanding and Utilizing the Multiple Points of Use Exemption
- A Guide to The Streamlined Sales Tax Project
ASIA-PACIFIC
- A total of 86.7 million manats of VAT amount has been refunded to consumers
- Ratifies List of VAT-Exempt Imported Outfits, Duties in Freed Territories
- The number of active VAT payers increased by 15 percent
- Recent judicial pronouncements in the field of indirect taxation – July 2023
- Deloitte Survey 2023: Biz Want New GST Reforms & Relief
- Marine Vessel parts attracts GST@ 5%
- Govt mulls options to impose carbon tax on some imports
- GST: Avoid These Mistakes while Filing your GST Returns
- ITAT Weekly Round-Up
- Supreme Court and High Courts Weekly Round-up
- GST Portal Crashed for Few Hours amidst Last Date of filing of GSTR-1
- Recommendations made by the GST Council in its 51st meeting held virtually on August 2, 2023
- Shareholding by Parent Company – Finally settled in GST
- No refund of outstanding CENVAT credit after closure of factory
- Cabinet approves Bill amending 28% GST on online gaming; Reports
- GST e-invoice System New Option: Sub Users can Access E-invoices Generated by Main Users and Perform…
- DA Tax Alert – Indirect Tax – August 2023
- Clarifications on Recommendation of India’s GST Council to Impose GST at the Rate of 28% on Casinos…
- R&D services provided to the foreign company considered as export of service
- No service tax on transportation of articles which are not goods as per Sales of Goods Act
- Punjab Witnesses 16.5% Increase in GST, 20.87% in Excise Collection: Cheema
- Weekly GST Communique dated August 07, 2023
- VAT Rate in Light of the Finance Act 2023
- Govt defers implementation of restrictions on imports of laptops, PCs, and tablets to Nov 1, 2023
- Illegal Adjustment Not Permitted for Non-Availability of GST Form on Portal
- DOF, DTI OK amendment to CREATE’s IRR amid VAT zero-rating issues
- VAT under Review Due to ‘Very Low’ Yield, Diokno tells House
- PRA pushes VAT on Digital Selling, Tax Refund for Non-Resident Tourists
- Congress expecting CREATE Amendments from DoF to Clear up VAT Zero-Rating Issues
- The Bureau of Internal Revenue Targets to Cut Gap in Excise Tax Collection
- Exempt Electricity Rate from 12% VAT — Escudero
- Escudero says POGO Ban would Mean Tax Hikes
- VAT Refunded for Businesses over VND 70,000 billion
- BIR Targets to Cut Gap in Excise Tax Collection
- Government Expects over $1b Revenue from VAT
- VAT rate change guidance for hotel accommodation services
- Domestic Products are Taxed Higher than Imports
- Tax Authority Returns nearly $3 Billion in VAT
- Ruling: Reduced rate for e-commerce enterprise and a distribution agent for goods and services?
- Summary of notable points in the Draft Law on Special Consumption Tax of Vietnam
EUROPE
- Roadtrip through ECJ Cases – Focus on ”Taxable person – Illegal Activities” (Art. 9)
- Flashback on ECJ cases C-455/98 (Salumets and Others) – VAT due on contraband importation into Community customs territory of ethyl alcohol from non-member countries
- Comments on ECJ C-180/22 (Mensing II): Application of the margin scheme: VAT paid in respect of the intra-Community acquisition does not reduce the taxable amount
- Comments on ECJ C-108/22: Need for Harmonisation of the Special VAT Scheme for Travel Agents
- Two steps forward, one step back: Council of the EU approves on B2B e-invoicing mandate in Romania and Germany, while France postpones implementation
- EU VAT on Yachts Explained – Interview
- Carbon Border Adjustment Mechanism (CBAM)
- CFE Opinion Statement on ECJ Cases Airbnb on accessory tax obligations imposed…
- Draft: Commission implementing regulation on the treatment for national accounts purposes of…
- Preparing for new carbon levies
- White Book: Trust Services in Europe
- EU DAC6 Mandatory Reporting by Intermediaries (Podcast)
- Mastering E-Invoicing – How Modern Subscription Business can stay ahead of the Curve
- EU customs reform 2028: new realities for e-commerce
- Special VAT rate for travel agents for accommodation which is resold without ancillary services
- Bosnia and Herzegovina VAT registration rise
- How Much do BiH Citizens Benefit from Record Revenues from Indirect Taxes?
- Abuse of VAT law for leases of immovable property: What are the court’s conclusions?
- VAT Developments: Right to deduct input VAT for advertising services, …
- Media VAT Hike in Estonia comes as Russia Spending ‘Billions’ on Media
- VAT violations have doubled in a year
- Guidance about transitional rules for VAT rate change
- Roadtrip through ECJ Cases – Focus on ”Taxable person – Illegal Activities” (Art. 9)
- Flashback on ECJ cases C-455/98 (Salumets and Others) – VAT due on contraband importation into Community customs territory of ethyl alcohol from non-member countries
- Comments on ECJ C-180/22 (Mensing II): Application of the margin scheme: VAT paid in respect of the intra-Community acquisition does not reduce the taxable amount
- Comments on ECJ C-108/22: Need for Harmonisation of the Special VAT Scheme for Travel Agents
- Two steps forward, one step back: Council of the EU approves on B2B e-invoicing mandate in Romania and Germany, while France postpones implementation
- EU VAT on Yachts Explained – Interview
- Carbon Border Adjustment Mechanism (CBAM)
- CFE Opinion Statement on ECJ Cases Airbnb on accessory tax obligations imposed…
- Draft: Commission implementing regulation on the treatment for national accounts purposes of…
- Preparing for new carbon levies
- White Book: Trust Services in Europe
- EU DAC6 Mandatory Reporting by Intermediaries (Podcast)
- Mastering E-Invoicing – How Modern Subscription Business can stay ahead of the Curve
- EU customs reform 2028: new realities for e-commerce
- Special VAT rate for travel agents for accommodation which is resold without ancillary services
- B2B E-Invoicing Mandate Postponed
- E-invoicing in France: Fonoa Applies for PDP
- Urgent Corrigendum: Simplification of the regime of rates applicable to foodstuffs and inputs…
- Who are the service providers that will file their application to become a PDP in France?
- Consideration of a Simplified VAT Regime for Food and Agriculture
- France Postpones E-Invoicing and E-Reporting Reform
- France Tax Agency Seeks Comments on Simplification of VAT for Specific Food Items
- Court Decision Clarifies Input Tax Deduction for Company Event Expenses
- Germany delays mandatory E-Invoicing
- E-Invoice: A worthwhile effort
- Court of Cassation confirms that right to use water service in exchange for loan reimbursement is a service subject to VAT
- Will Italy be first nation to exempt NFT art from VAT?
- Italy Major VAT Reforms
- Additional Guidance from The Luxembourg VAT Authorities on The Provision Of…
- Declaration known as the “Notification of the Service”
- Luxembourg Enacts New Reporting Obligations for Payment Service Providers to Combat VAT Fraud
- Luxembourg confirms lawyer invoking professional privilege not required to notify intermediaries of DAC6 obligations
- Increase in interest on taxes other than corporate income and withholding tax
- Single Use Plastics – Dutch VAT impact of regulations
- Burden of proof VAT fraud bottleneck for tax authorities
- Additional assessment of 17 million euros following VAT fraud upheld by Supreme Court
- The introduction of ”eHerkenning” will not lead to the VAT declaration term being exceeded
- The plot is a building site, existing buildings are negligible
- Additional tax assessment of 17 million euros after VAT fraud will be upheld by the Supreme Court
- Step by step to an error-free VAT return
- Ruling about preparation for improving the environment and health of crops – 8% VAT rate
- Ruling about calcined magnesium oxide – 8% VAT rate
- Ruling about oil – CN 15 – 0% VAT rate
- Ruling about providing pool tables – 8% VAT rate
- Ruling about kaiser rolls with ham and cheese – CN 19 – 0% VAT rate
- Judgment Supreme Administrative Court (NSA) – Sale of commercial real estate
- Updated API published for schemas FA(1) and FA(2)
- Law introducing mandatory e-invoicing via KSeF is enacted
- Ruling: No right to deduct VAT for Local Action Group supporting development rural areas
- Ruling: VAT on the purchase of a combine harvester
- Ruling: VAT by way of public auction of the right of separate ownership of the premises
- Webinars – Recorded versions and/or slide decks on E-Invoicing mandate in Poland
- The act introducing mandatory e-invoicing signed by the President
- National e-Invoice System: time for changes in IT systems and business processes
- VAT Guide for Businesses with Customers in Poland
- Poland the National E-Invoice System Regulation Approved by President
- Ruling about intermediation (comprehensive service) – PKWiU 2015 – 52 – 23% VAT rate
- 0% rate in exports – a change in the approach of the authorities
- Branches of companies will only have access to their own e-invoices
- Ruling – WIS TOWAR – green maize mass – CN 14 – 23% VAT rate
- Ruling – Taxation with VAT on the sale of a plot/plots
- Ruling – No right to deduct input VAT on expenses related to the implementation of the project – asbestos removal
- Ruling – Commune is VAT payer for the implementation of the task of installing rainwater tanks (rainwater)?
- Ruling – VAT exemption for sale of developed real estate
- Ruling about preparation in the form of powder stimulating plant growth – 8% VAT rate
- Reclassification of Sales of Commercial Real Estate as ZCP
- Ruling about dietary supplement in capsules – CN 2106 – 8% VAT rate
- What’s new in VAT? – summary of July 2023
- 0% rate in exports – a change in the approach of the authorities
- Poland Enacts the Mandatory National E-Invoice System (KSeF)
- The President signed the bill on the National e-invoice system obligation
- Poland appealed to the CJEU for two more legal acts, which are part of the Fit for 55 package
- Poland Releases an Updated Version of the KSeF API
- Thanks to the Supreme Administrative Court, municipalities can recover VAT on water and sewage investments
- The Ministry is to explain how to distinguish the consumer from the entrepreneur in KSeF
- Poland’s Mandatory E-Invoicing System Signed into Law
- How to Correctly Settle the Fixed Asset in VAT and CIT after SLIM VAT 3?
- Does the Taxpayer have to Pay VAT-23 within 14 Days from the Date of Issuing the Purchase Invoice?
- Mandatory E-Invoicing Law (KSeF) Signed by President
- Is it Possible to Benefit from the Subjective Exemption from VAT for Engineering and Architectural Services?
- KSeF mandatory from July 1, 2024 – the president signed the act
- New draft KSeF regulation for consultation – deadline August 18, 2023
- Who will Settle VAT on Imported Goods in the Event of Sale of ZCP
- Return D300 has been updated
- VAT on Books will not Increase, Romanian Minister says
- VAT Guide for Businesses with Customers in Romania
- Romania will implement electronic invoicing from 2024: What are the implications for…
- Changes regarding VAT in the Rules of Application of the Fiscal Code
- The goods invoice received late: how to register it in accounting
- ANAF modifies D300: what the new model includes
- Türkiye Seeks Public Input on Certain Value Added Tax Issues
- VAT Guide for Businesses with Customers in Türkiye
- The buyer returns the goods and receives money for them: what about VAT?
- The list of which imported goods for production activities will be exempted from VAT: draft resolution of the Cabinet of Ministers of Ukraine
- Tax point for transfer of real estate when date of transfer differs from date of payment
- UK Privy Council decides Mauritian VAT Case on Non-Refundable Fees
- Digital platform reporting regulations made
- Analysis of the operation of Investment Zones
- Isle of Man – Interest rates for VAT and other indirect taxes
- Blow to UK salmon industry as trial post-Brexit export scheme halted
- VAT Guide for Businesses with Customers in the United Kingdom
- HMC Guidance: Claim a VAT refund as an organisation not registered for VAT
- Taxpayer Succeeds in Upper Tribunal Case Providing Opportunities for Increased VAT…
- Recovering VAT on a disposal of shares in a company
- Testing, testing – HMRC ponders a new piloting approach
- You don’t need permission to use Cash Accounting
- Fare dues: Taxi firms need to add VAT to charges
MIDDLE EAST
- Saudi Arabia Determines Criteria for Seventh Wave of the Integration Phase for the Country’s New E-Invoicing Requirements
- KSA: Criteria for Seventh Wave of VAT E-Invoicing System Integration
- Saudi Arabia Extends Penalty Exemption Initiative to December 2023
- Criteria for seventh wave of VAT e-invoicing system integration
- VAT Guide for Businesses with Customers in Saudi Arabia
- Anticipating Unknown: Could Luxury Goods see an Excise Tax in the UAE’s Future?
- Business Visitors Refund Scheme
