VATupdate.com Daily Newsletter: February 7, 2024

Headlines February 7, 2024

• Temporary reduced rates in Spain for 2024
• Malaysia – Pilot Phase starting in May 2024
• Polish Government Starts a Consultation After Postponement in e-Invoice Regulation
• Italy Raises VAT Rates on Certain Products, Including Feminine Hygiene and Baby Products, in 2024
• Poland – Does preparing a correction of JPK_V7M extend the VAT refund deadline?
• Implementation Highlights of Slovakian E-Invoicing: Obligatory Rollout and Key Milestones

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• VATupdate Newsletter Week 4 2024
• E-Invoicing
  • Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
  • Timeline of B2B E-Invoicing & E-Reporting mandates in the European Union
  • E-Invoicing & E-Reporting developments in the news in week 50&51/2023
  • Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in January 2024
  • Worldwide Changes to E-Invoicing/E-Reporting per January 1, 2024
• ECJ
  • ECJ VAT cases decided in 2023 incl. Case # and name, Articles discussed, Topic, Questions and Decision
  • Agenda of the ECJ VAT cases – 5 Judgments, 1 Hearing announced till March 7, 2024
  • 971 ECJ VAT Cases are now available on www.vatupdate.com
  • This is what happened in the ECJ (VAT) in January 2024
• VAT Rates
  • VATupdate.com: Noteworthy VAT Updates and Rate Changes in January 2024
  • Stay tuned on upcoming VAT rate changes in Asia Pacific
  • Stay tuned on upcoming VAT rate changes in Europe

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AUSTRIA/ EUROPEAN UNION

• Prejudicial questions on the liability of VAT calculated based on an incorrect rate

BAHAMAS

• Government Plans VAT Reform to End Tax-Free Status for Cruise Islands

BANGLADESH

• Insurers propose tax and VAT exemptions to boost health and life insurance sectors

CANADA

• Understanding Gross Negligence Penalties: How They Work and How to Defend Against Them

CANADA/ EUROPEAN UNION

• European Commission Determines Canadian Information for Automatic Exchange Is Equivalent to DAC7
• European Commission Recognizes Canada’s Digital Platform Reporting Rules as Equivalent to DAC7

COLOMBIA

• Colombia officially postpones mandatory issuance of new electronic document types

DENMARK

• Tax Fraud, Fictitious Invoices, and Hidden Income: Case Study and Increased Penalties

ECUADOR

• Ecuador VAT rise Mar 2024 update
• Ecuador’s President Noboa Urges VAT Increase Despite Congressional Rejection

EGYPT

• Tax Refund on Value Added: Egyptian Tax Authority Guidelines and Supporting Documents

EUROPEAN UNION

• Comments on ECJ C-442/22: VAT fraud committed by employee: employer is not liable for VAT under certain conditions
• DAC7 and Digital Content Creators: Opaque transparency for influencers, streamers and other content creators?

EUROPEAN UNION/ GERMANY

• Commission calls on Germany to comply with EU VAT rules on private tuition services
• First Conviction in €80 Million VAT Fraud Involving Luxury Cars in Germany

EUROPEAN UNION/ GREECE

• Commission Calls on Greece to Remove Excise Duty Exemption for Tax-Free Shops at Land Borders

EUROPEAN UNION/ ITALY

• Joint Operation by OLAF and Italian Customs Uncovers 18 Million Euro VAT Evasion

FRANCE

• VAT & Artworks: Updates on the 2024 Finance Law

GERMANY

• BMF Accepts BFH Ruling on Input Tax Deduction for Indirect Causation

GHANA

• Enacted Tax and Customs Measures in Ghana’s 2024 Budget

GREECE

• Compulsory completion of income and expenses in VAT declarations from 1.1.2024
• Details of VAT declaration lock – Decision published in the Official Gazette
• e-Tax Compliance in Greece: Update on MyDATA Invoice Declaration and Implementation
• Greece Extends DAC7 Reporting Deadline for Digital Platform Operators
• VAT Declarations to Be Pre-Filled, Deviation Allowed Up to 30% of Income, Expenses

INDIA

• GST fake invoices: Govt to do away with edit option to revise output liability, says Revenue Secretary
• Interim Budget 2024: India Proposes Mandatory Registration of Input Service Distributors under GST

INDONESIA

• Notice to Taxable Entrepreneurs to Submit Notification of Centralized Place of VAT Liability at Residence or Domicile

IRELAND

• Warning of Retail Closures: Urgent Government Action Needed to Cut VAT Rates

ITALY

• Italy Raises VAT Rates on Certain Products, Including Feminine Hygiene and Baby Products, in 2024
• Italy Tax Agency Clarifies VAT Variation Note and Deduction Rules for Negative Invoices
• Italy: Updates on Deadline Extension and Submission Methods for Digital Platform Operators
• Ministry of Economy and Finance Increases Rates of Local Consumption Tax for Campione d’Italia

IVORY COAST

• Cote D’Ivoire Tax Agency Releases 2024 Finance Law Tax Annex with New Measures

JAPAN

• Japan’s Lower House Considers Bill to Amend Tax Laws, Including New Consumption Tax for Digital Services

KAZAKHSTAN

• President supports business position against VAT increase

KUWAIT

• Kuwait’s Four-Year Plan: No VAT

LITHUANIA

• Navigating E-Invoicing in Lithuania: Your Comprehensive Guide to Compliance

MALAYSIA

• E-invoicing system pilot announced by Malaysian authorities
• Malaysia to Begin Pilot Phase of CTC Clearance Model in May 2024
• Pilot Phase starting in May 2024

MALTA

• Malta Exempts Supplies Made by Non-Profit Organizations from VAT
• Malta Implements Reduced VAT Rate for Short-Term Hiring of “Pleasure” Boats

NETHERLANDS

• Failure to submit a VAT return does not allow objections and appeals
• Ruling on VAT liability for separate collection of packaging waste by municipality
• Tax Appeal Granted: Reimbursement Mistake Creates Legal Precedent
• Tax Liability of Directors for VAT: Court Decision and Reduction of Liability

PAKISTAN

• Pakistan issues guidance on electronic transmission of sales tax invoices
• Pakistan Taxpayers Must Request Extensions for Electronic Invoices Until Software Providers are Approved

PHILIPPINES

• Senate Bill Proposes 12% VAT on Digital Transactions, Including Foreign Online Marketplaces

POLAND

• Does preparing a correction of JPK_V7M extend the VAT refund deadline?
• Foreign delivery with installation without Polish VAT?
• Liability of Board Members for VAT Arrears: CJEU Referral in Poland
• New KSeF obligation date to be announced by the end of Q2 2024
• Polish Government Starts a Consultation After Postponement in e-Invoice Regulation

RUSSIA

• When can a hotel apply a 0% VAT rate to “buffet” services?

SENEGAL

• Senegal Implements VAT on Cross-Border Digital Services Starting April 2024
• Senegal Implements VAT on Foreign Digital Services from April 2024

SERBIA

• Unchanged deadline for submitting PPPDV: 15 days after the end of the tax period

SLOVAKIA

• Implementation Highlights of Slovakian E-Invoicing: Obligatory Rollout and Key Milestones

SLOVENIA

• Submission of CBAM report after the deadline: New functionality for delayed submission requests

SPAIN

• Government Approves DAC7 Tax Models, Registration, Reporting, Filing Obligations of Digital Platforms
• Temporary reduced rates in Spain for 2024

SWEDEN

• Sweden Tax Agency Clarifies Court Decision on Deduction of Input VAT in Investment Activities
• Sweden Tax Agency Clarifies Division of Input VAT in Recent Statement

SWITZERLAND

• Hurdles to Input VAT Deduction: Ruling on Deductibility of Consultancy Services in Shareholding Sale
• Swiss Tax Agency Releases Updates on Future Tax Laws and Regulations

TAIWAN

• Important Notes for Declaring the Application for Refund of Business Tax for Imported Goods

THAILAND

• Thailand Boosts Crypto Industry with VAT-Free Trading, Encourages Digital Asset Market Growth
• Thailand Exempts Crypto Trading from VAT, Boosting Growth in Digital Asset Sector
• Thailand Extends VAT Exemption to Boost Digital Asset Trading Hub

UKRAINE

• Determining the Scope of Supply of Goods/Services for VAT Registration in Commission Agreements

UNITED KINGDOM

• Appeal Dismissed: Tax Treatment of Sports Nutrition Products as Confectionery
• Are Freemasons’ Aims Philanthropic? The United Grand Lodge UT Case: Latest Court Update
• Changes to Agent Authorisation for VAT by HMRC
• Extension of VAT Relief for Energy-Saving Materials to Charitable Buildings and Additional Technologies
• FSB Calls for VAT Threshold Increase to £100,000 to Support Small Businesses
• Understanding Electronic Sales Suppression (ESS) and Making a Disclosure: HMRC Guidance
• Update: Changes to Repayment Interest on VAT Credits and Overpayments
• Updated Guidance on Alternative Dispute Resolution for Tax Disputes with HMRC
• VAT exemption for bay plants under 50cm without clipping or shaping.
• VAT Rules for Business Gifts and Samples: Implications for Social Media Influencers
• VAT Treatment of Serviced Apartments: The Realreed Limited Case – Latest Court Ruling

UNITED STATES

• Remote Retailers Held Liable for Tax Collection in Washington: Lessons from Orthotic Shop Case
• State and Local Sales Tax Rates: Trends, Rankings, and Impact on Consumer Behavior

VENEZUELA

• Venezuela Waives VAT, Financial Transaction Tax on Import, Sale of Hydrocarbon Fuels

WORLD

• eInvoicing & eReporting: Insights and Imperatives
• Introduction into SAP S/4HANA On-Premise & Cloud
• Navigating Global Private M&A: A Comprehensive Guide to Laws and Regulations in 40 Jurisdictions
• Understanding Indirect Tax: Role of Tax Professionals and Differences from Direct Tax
• Understanding the Differences: Direct vs. Indirect Tax and Their Importance for Companies
• VATupdate.com Daily Newsletter: February 6, 2024

 

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