VATupdate.com Daily Newsletter: March 2 & 3, 2024

Headlines March 2 & 3, 2024

• E-Invoicing & E-Reporting developments in the news in week 9/2024
• February 2024 Updates on the Changing Landscape of VAT and Digital Services Tax in E-commerce and Electronic Services
• Israeli Government Proposes 1% VAT Rate Increase Amid Economic Challenges
• EU – Understanding VAT Carousel Fraud: Mechanics, Red Flags, and Impacted Countries
• Poland – 8% VAT for the beauty industry from April 1, 2024 – Draft regulation

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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 February 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 – 3 Judgments, 3 AG Opinions, 3 Hearings announced till March 22, 2024
  • 1002 ECJ VAT Cases are now available on www.vatupdate.com
  • This is what happened in the ECJ (VAT) in February 2024 – ECJ continues to deal with the weakly defined concepts in the EU VAT Directive
• VAT Rates
  • VATupdate.com: Noteworthy VAT Updates and Rate Changes in February 2024
  • Stay tuned on upcoming VAT rate changes in Asia Pacific
  • Stay tuned on upcoming VAT rate changes in Europe

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BANGLADESH

• Impact of Rising Indirect Taxes on Poverty Reduction in Bangladesh: RAPID Study

CHINA

• Impact of VAT Rate Cut on Corporate Maturity Mismatch: Evidence from China’s Reform

CZECH REPUBLIC

• Limitation of VAT Input Tax Deduction for Selected Passenger Cars from 1.1.2024

EUROPEAN UNION

• ECJ: Recovery of VAT on bad debts with appropriate expiry date
• Understanding VAT Carousel Fraud: Mechanics, Red Flags, and Impacted Countries

FRANCE

• Deducting VAT on accommodation and restaurant expenses: Fiscal implications as of 29/02/2024

GERMANY

• Monthly Updated Overview of VAT Conversion Rates 2024 According to BMF Letter of 1 March 2024

INDIA

• DGGI is not allowed to seize cash from the premises of any person
• GST Implications on Bakery Products: Cakes, Pastries, Biscuits – Applicability, Rates, and Taxability

ISRAEL

• Israeli Government Proposes 1% VAT Rate Increase Amid Economic Challenges

ITALY

• New Sanctions Decree Could Change VAT Payment Obligations for Invoice Recipients

JAPAN

• Japan’s Missed Opportunity: Delay in Implementing VAT
• Japanese Consumption Tax: New Rules for Foreign E-Service Providers on Online Platforms

LATIN AMERICA/ WEBINARS / EVENTS

• Webinar GlobalVATCompliance – Recorded session – VAT on Digital Services in Latin America for Non-Resident Companies

MALAWI

• Malawi to Launch Mandatory VAT E-Invoicing System in 2024 to Combat Tax Fraud

MAURITANIA/ MAURITIUS/ ZAMBIA

• Recent advances in e-invoicing across Africa

NAMIBIA

• VAT Relief for 23,000 SMEs: Boosting Growth and Employment in Namibia

NETHERLANDS

• Dispute over VAT exemption for land sale as building site – Court Decision
• Tax Court Rules Pension Fund Services Not Eligible for VAT Deduction

POLAND

• 8% VAT for the beauty industry from April 1, 2024 – Draft regulation
• Poland to Reduce VAT Rate for Beauty Industry to 8% from 23% Starting April 2024
• Reduced VAT rate on selected beauty services from April 1, 2024

SINGAPORE

• Singaporean Finance Minister Assures No More GST Rate Hikes Until 2030

SPAIN

• TEAC Resolution on place of supply of Promotion and Advertising Services

SWEDEN

• Maltese Businessman Challenges Extradition to Sweden for €196 Million VAT Fraud

UKRAINE

• Budget VAT refund in 2023: figures from the State Tax Service
• Tax Exemption for Educational Services in Diya City by Odessa Tax Office, Published March 1, 2024

UNITED ARAB EMIRATES

• FTA Decision No. 2 of 2024: Amendments to Tax Refunds for Tourists Scheme

UNITED KINGDOM

• H Ripley & Co Limited: VAT Dispute Over Scrap Copper Export Evidence – Tribunal Decision
• HMRC introduces new agent authorisation process for UK VAT effective February 16, 2024
• Isle of Man Businesses Urged to Complete Vital VAT Survey by March 1, 2024
• Public Accounts Committee report on HMRC’s performance in 2022-23

UNITED STATES

• California Sales Tax Challenge: Cell Phone Bundled Transaction Ruling (Mar 1, 2024)
• Understanding Sales Tax on Services in Oklahoma: What Merchants Need to Know

VIETNAM

• Ministry of Finance Stands Firm on VAT Threshold Despite Proposals for Increase
• South Korean Firms Face VAT Refund Delays and Tax Challenges in Vietnam

WORLD

• E-Invoicing & E-Reporting developments in the news in week 9/2024
• February 2024 Updates on the Changing Landscape of VAT and Digital Services Tax in E-commerce and Electronic Services
• GVC Global VAT News – February 2024
• VATupdate.com Daily Newsletter: March 1, 2024

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