VATupdate.com Daily Newsletter: February 27, 2024

Headlines February 27, 2024

• Israel B2B e-invoicing delay to 5 May 2025
• Poland – VAT deduction from an invoice with an incorrect tax rate or incorrect currency rate
• Malaysia – MY PINT 1.0 E-Invoicing specifications have been published
• Bulgaria progressing on SAF-T implementation
• Government proposing stronger requirements for eInvoicing in New Zealand

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• VATupdate Newsletter Week 8 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 8/2024
  • 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
  • 1002 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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BULGARIA

• Bulgaria progressing on SAF-T implementation

DENMARK

• Taxable person builds for third party – VAT liability confirmed by Vestre Landsret.

ECUADOR

• President Noboa Announces VAT Increase to 15% Effective April 1, 2024

EUROPEAN UNION

• Comments on ECJ C-674/22 (Gemeente Dinkelland): Correction and retrospective interest
• DAC7: What do the new obligations mean for online platforms and their users?
• Intrastat Threshold for 2024

EUROPEAN UNION/ ITALY

• €220 Million VAT Fraud: EPPO Exposes Criminal Network in Italy’s Alcohol Export Scheme
• Italian VAT Fraud: €30 Million Scam Uncovered in Beverage Investigation by European Prosecutors

GUATEMALA

• Guatemala’s SAT Introduces Prepopulated VAT Returns for Small Taxpayers
• Guidance on Lessee Expenses: SAT Clarifies VAT Treatment

INDIA

• Weekly GST Communique dated February 26, 2024

ISRAEL

• Israel B2B e-invoicing delay to 5 May 2025
• Israel’s B2B e-invoicing mandate likely postponed to 2025 to combat fraud: Update 2024
• New Deadline in Israel e-Invoice System

JAPAN

• Proposed Changes to Taxation of Online Platforms in Japan

JORDAN

• Jordan GST on digital services update

KAZAKHSTAN

• Expansion of VAT offset list by 24 items to boost investment and production in Kazakhstan

MALAYSIA

• Malaysia Introduces New E-Invoicing Software and Guidelines for Tax Compliance and Audit Readiness
• MY PINT 1.0 E-Invoicing specifications have been published

MALTA

• Obligation to Register for VAT and Irrelevance of Civil Regulatory Omissions

MAURITIUS

• Mauritius e-Invoicing System

NETHERLANDS

• Corrections to VAT compensation fund for waste collection scrapped
• Inclusion of kitchen equipment in annual accounts leads to VAT liability on sale
• Zero rate rightly refused in large-scale VAT fraud involving export cars

NETHERLANDS/ SWEDEN

• Determining Pro-Rata in Mixed Supply Business: Sweden and Netherlands VAT Directive Compliance

NEW ZEALAND

• Government proposing stronger requirements for eInvoicing in New Zealand

POLAND

• VAT deduction from an invoice with an incorrect tax rate or incorrect currency rate

SWEDEN

• Exemption of VAT for capital contributions to economic associations managing facilities repealed
• HFD Judgments on VAT Treatment of Community Associations’ Services to Members, 2024-02-27
• Repeal of VAT ruling for community associations’ services to members, effective 2024-02-27

SWITZERLAND

• Tax Implications of Token Allocation for Crypto Project Team Members

TAIWAN

• Importance of Invoices and Certificates When Buying Gold Jewelry During Wedding Season
• Legal Requirements for Online Sales and Proxy Purchasing Businesses: Tax Registration and Payment Obligations
• Restrictions on Deducting Input Tax for Purchased Passenger Cars and Reporting Business Tax Upon Sale

TANZANIA

• President Mwinyi Announces VAT Exemption on Sugar for Ramadan, Urges Traders to Avoid Price Hikes
• Zanzibar President Removes VAT on Sugar Imports to Combat Ramadan Price Hikes

TURKEY

• An Overview of VAT Exemption for Incentivized Investments

UKRAINE

• Can the tax authority deduct VAT from the buyer’s tax credit without the seller’s inclusion in the ERPN?
• Taxation of Medical Supplies and Devices: VAT Regulations

UNITED STATES

• Alaska House Bill 378: Introducing New Marketplace Facilitator Sales Tax for Organized Retail Theft Fund
• Illinois Sales Tax Regulation Amended for Finance Companies and Lending Agencies
• Time to Revisit VAT: Implications of Moore Panic Easing on Federal Tax System

WEBINARS / EVENTS

• RTC – 2024 Tax Compliance Virtual Symposium | European e-Invoicing Journey (Feb 29, 2024)

WORLD

• Driving Global Business Transformation: SAP Business Network and E-Invoicing Compliance
• Global Trend – Electronic Invoicing and Digital Tax Reporting
• Importance of SAP data archiving when migrating to S/4HANA
• VATupdate.com Daily Newsletter: February 26, 2024

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