VATupdate.com Daily Newsletter: April 12, 2024

What happened on April 13 – Myanmar: Thingyan Water Festival, also known as the Burmese New Year, starts around April 13. People splash water on each other to cleanse and welcome the new year.

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Headlines April 12, 2024

• VAT Committee 124th meeting – April 11, 2024
• VAT Expert Group (VEG) – Minutes meeting 35th meeting (March 18, 2024)
• VAT Expert Group will produce a report on ”VAT after ViDA – Exchange of views”
• European Commission provided update on ViDA during the VAT Expert Group meeting on March 18, 2024
• Italy – Denial of VAT refund if permanent establishment exists: only PE can claim credit.

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• Webinar VATconsult – Mixed and partial VAT taxpayers – New reporting (April 16)
• Sovos webinar: VAT Reporting and SAF-T: Recent Changes and Upcoming Deadlines (April 17)
• RTC Webinar – Exploring Malaysia e-Invoicing: Compliance, Implementation, and Technical Aspects (April 17)
• Event: E-Invoicing Exchange Summit in Miami – April 22-24, 2024
• Sovos Webinar – VAT Snapshot: Navigating the Latest Global E-invoicing Requirements (May 2)
• IBFD – Advanced Professional Certificate in International VAT/GST starting October 1, 2024

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• VATupdate Newsletter Week 14 2024
• E-Invoicing
  • Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
  • Timeline of B2B E-Invoicing & E-Reporting mandates in the European Union
  • Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in March 2024
  • E-Invoicing & E-Reporting developments in the news in week 13 & 14/2024
• ECJ
  • ECJ VAT Cases decided in 2024
  • Agenda of the ECJ VAT cases – 4 Judgments, 2 AG Opinions announced till April 25, 2024
  • 1002 ECJ VAT Cases are now available on www.vatupdate.com
  • This is what happened in the ECJ (VAT) in March 2024 – Clean-up time, 2 Orders, 2 Cases Removed
• VAT Rates
  • VATupdate.com: Noteworthy VAT Updates and Rate Changes in March 2024
  • Global Upcoming VAT Rate changes – Chronological

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ARMENIA/ BELARUS/ KAZAKHSTAN/ KYRGYZSTAN/ RUSSIA

• New VAT Payment Procedure for Electronic Services in the EAEU Member States

AUSTRIA

• VAT in Austria

BAHRAIN

• Bahrain Extends VAT Record Retention Period to 10 Years

CHINA/ HONG KONG

• Hong Kong 2024/25 Budget: Tax Measures and Fee Increases Announced by Financial Secretary

CZECH REPUBLIC

• Czech Republic VAT Law Amendment: Changes to Construction Sector Treatment and Exemptions

DENMARK

• Denmark Tax Agency Consults on Draft Control Signal for VIES Reporting Errors and Omissions

ESTONIA

• Estonia Government Proposes Sweetened Beverage Tax Effective January 2025

EUROPEAN UNION

• European Commission provided update on ViDA during the VAT Expert Group meeting on March 18, 2024
• Tax authorities closer to victory in split payment dispute with bankrupt companies
• VAT Committee 124th meeting – April 11, 2024
• VAT Expert Group (VEG) – Minutes meeting 35th meeting (March 18, 2024)
• VAT Expert Group will produce a report on ”VAT after ViDA – Exchange of views”

EUROPEAN UNION/ ITALY

• Immediate Implementation of Judgments on EU Customs Measures: Case C‑770/22

FRANCE

• Extension of VAT deduction rights for equine transport vehicles under 2024 finance law.

GERMANY

• 2024 Annual Tax Act: Virtual Events and Activities in German VAT Law Amendments

GREECE

• Measures package of 870 million in 2025 budget: Reduction of contributions, pension increase, VAT suspension in construction, etc.

INDIA

• GSTR-1 deadline has been extended today as recommended by GSTN due to difficulties in filing
• Indiana and Wyoming repeal transactional criteria from economic nexus threshold

INDONESIA

• Indonesia Extends VAT Incentives for Electric Vehicles and Buses Through December 2024

ISRAEL

• Israel’s Mandatory E-Invoicing Implementation Delayed to May 2024 due to COVID-19 Impact

ITALY

• Denial of VAT refund if permanent establishment exists: only PE can claim credit.
• General Asset Liquidation Allows VAT Adjustment: Equivalence to Administrative Liquidation for Credit Note Issuance
• Italy Extends Self-Disclosure Regime for VAT-Registered Companies with New Deadline of May 31, 2024

LATVIA

• European Commission Approves Increase in Latvian VAT Threshold to Boost Small Business Growth

MALAYSIA/ WEBINARS / EVENTS

• RTC Webinar – Exploring Malaysia e-Invoicing: Compliance, Implementation, and Technical Aspects (April 17)

MIDDLE EAST

• Current status of E-Invoicing in the Middle East

MOROCCO

• Morocco VAT Update: New Rules for Nonresident Digital Service Providers Effective February 2024

NETHERLANDS

• Court Decision: Rejection of Postponement Request – Case of Overdue Tax Return and Penalty
• Despite major conversion into a hotel, there is no question of essentially new construction
• Taxation Dispute: VAT Liability for Sale of Residential Building Plot from Private Assets

NEW ZEALAND

• Comprehensive Guide to GST Grouping: Rules, Benefits, and Recent Law Changes

PHILIPPINES

• Philippines proposes VAT compliance for nonresident digital service providers: What you need to know

POLAND

• Delays and Challenges in Implementing National e-Invoice System (KSeF)

ROMANIA

• European Commission Approves Romanian VAT Deduction Proposal for Vehicle Expenses Until 2026

RUSSIA

• Understanding VAT deduction for goods imported from EAEU countries by intermediary: explained by FNS.

SOUTH AFRICA

• Cutting VAT and State to Help the Poor: Deepening Democracy through Access to Information
• South Africa Budget 2024: Updating Electronic Services Regulations for Digital Economy Growth.

SPAIN

• TEAC Resolutions on IVA Deductions: Temporal Requirements for Exercising Right to Deduct
• TEAC Resolutions on VAT: Excess Deductions Compensation vs. Refund Option – 18/03/2024

SRI LANKA

• Sri Lanka VAT (Amendment) Act No. 16: Changes in Rates and Registration Thresholds

TAIWAN

• Call for Exemption of Menstrual Products from Sales Tax: Huang Shan-shan Urges Central Government to Expand Subsidy Program
• Tax Registration Required for Individuals Engaged in Buying and Selling Used Motorcycles

UKRAINE

• Procedure for Refunding Excess Paid Funds in VAT through E-Declaration in Ukraine
• Tax Benefits for Charitable Organizations and Sponsors: What You Need to Know

UNITED KINGDOM

• British Finance Minister Sunak Plans Emergency Value-Added Tax Cut to Boost Economy
• HMRC Guidance: Change your VAT registration details
• Northern Ireland Cars and the VAT-Related Payment Scheme: One Year On
• Untangling the VAT Web: Navigating Recovery in Holding Company Transactions
• VAT Due on Services Invoiced After Supplier Left VAT Group: CoA Decision 2024
• VAT Groups and Tax Points: The Prudential Assurance Co. Ltd CoA Case Analysis

UNITED STATES

• Alabama House Committee Approves Bill Increasing State’s Internet Sales Tax for Education Funding
• California proposes digital advertising tax
• Colorado Retail Delivery Fee to change to $0.29 Effective July 2024
• Colorado: New Law Seeks to Streamline State and Local Sales and Use Tax Filing Processes
• Florida sales tax rate on commercial rentals reduced effective June 1, 2024
• Georgia proposes repeal of sales and use tax exemptions effective in 2029
• Louisiana BTA finds pay-per-view and video-on-demand services non-taxable
• Navigating Sales Tax Challenges in the U.S. Life Science Industry: Strategies for Compliance Success
• New York Appellate Court affirms data in reports is a taxable information service

WORLD

• Demystifying Value-Added Tax: A Comprehensive Guide for Businesses and Individuals
• PE Watch | Latest developments and trends, April 2024
• VATupdate.com Daily Newsletter: April 11, 2024

ZAMBIA

• Zambia to Implement Mandatory E-Invoicing for VAT-Registered Taxpayers by July 2024.

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