VATupdate.com Daily Newsletter: May 14, 2024

What happens on May 14 in the world?

• D-Day for VAT in the Digital Age (ViDA) – Will EU businesses get some perspective on the spaghetti of E-Invoicing & e-Reporting regulations?

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Headlines May 14, 2024

• E-Invoicing & E-Reporting developments in the news in week 19/2024 – It’s all about ViDA
• VATupdate Newsletter Week 19 2024
• New Tax Code in Kazakhstan: Automated VAT System and VAT Refund
• Overview and Timetable of Proposed VAT Changes in the Digital Age: Compromise Proposal 2024
• ViDA explained #1: Are Summary Invoices still allowed?
• Romanian SAF-T Reporting Obligation for Non-Established Taxpayers by January 2025

 

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• VATupdate Newsletter Week 19 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 April 2024
  • E-Invoicing & E-Reporting developments in the news in week 19/2024 – It’s all about ViDA
• ECJ
  • ECJ VAT Cases decided in 2024
  • Agenda of the ECJ VAT cases – 2 Judgments, 5 AG Opinions announced till June 6, 2024
  • 1002 ECJ VAT Cases are now available on www.vatupdate.com
  • This is what happened in the ECJ (VAT) in April 2024 – ECJ seems to have booked a front-row seat for the “Busy Month Club”
• VAT Rates
  • April 2024 VAT Updates: A Global Roundup of Rate Changes and Developments on VATupdate.com
  • Global Upcoming VAT Rate changes – Chronological

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AUSTRALIA

• Australia Seeks Feedback on Proposed GST Amendment for Vehicle Supplies: Consultation Open Until June 6

AUSTRIA

• Austria VAT Registration Threshold Proposal: Increase to €42,000
• Austria’s Tax and Business Regulations: Proposed Amendments and Consultation Period Until May 17

BANGLADESH

• Boosting Government Revenue: Prioritizing EFD Deployment for Enhanced VAT Collection Across Bangladesh

BULGARIA

• Deputy Prime Minister and Finance Minister Ludmila Petkova to Attend ECOFIN Council Meeting in Brussels

EUROPEAN UNION

• 2024 European Commission DGs Management Plans: Focus on Taxation, Customs, Market Growth, and SMEs
• Comments on ECJ C-207/23: Free supply of heat – deemed supply and valuation
• Comments on ECJ C-60/23: Charging vehicle at charging point – whether a supply of goods
• EU Finance Ministers to Discuss ViDA and FASTER Tax Agreements on 14 May
• EU Tax and Customs Union DG’s 2024 Agenda: Prioritizing Tax Reforms and International Cooperation
• EU VAT Reforms: Marketplaces Exempt from Deemed Supplier Obligations in Digital Age
• On ECOFIN’s agenda: updated EU proposal for VAT reforms in the Digital Age
• Overview and Timetable of Proposed VAT Changes in the Digital Age: Compromise Proposal 2024
• VAT In The Digital Age: Impact Of Revised Proposals On EU Businesses
• ViDA explained #1: Are Summary Invoices still allowed?

EUROPEAN UNION/ UNITED KINGDOM

• HMRC Guidance: UK Carrier Scheme for Northern Ireland Consumer Parcels Movement

FINLAND

• Amendment to VAT Act: Changes in tax rates and regulations for various services
• Finland to Increase Standard VAT Rate to 25,5% in September 2024

FRANCE

• List of Potential Partner Dematerialization Platform (PDP) Operators in France

INDIA

• Challenges in GST Registration for Dark Stores Amid Rapid E-commerce Growth
• India Gains State Support for Single Customs Union, Approaches GST Implementation
• SC to Provide Clarity on GST for Corporate Guarantees: Relief for Companies from CBIC Circular
• Transformative Tax Reforms in Modi Era: A Decade of Progress in Indian Taxation

INDONESIA

• Government’s Plan to Increase VAT to 12% by 2025 Sparks Controversy and Concerns

ITALY

• 10% VAT on train transport for tourist-recreational purposes without additional services.
• The seventh postponement arrives for the Plastic tax. Sugar tax in force since July, but with soft start

KAZAKHSTAN

• New Tax Code in Kazakhstan: Automated VAT System and VAT Refund

KENYA

• Controversial 2024 Finance Bill Proposes New 16% VAT on Cheque Processing and Forex Transactions
• New Regulatory Update: Kenya’s Electronic Tax Invoice Regulations 2024
• President Ruto’s Administration Proposes VAT Changes Leading to Increased Bread Prices and Vehicle Taxes
• Proposed VAT on Ordinary Bread to Increase Consumer Costs by Sh10 in 2024 Finance Bill
• Proposed VAT Threshold Increase to Benefit Small Businesses in Finance Bill 2024.

LIBERIA

• Liberia Introduces New VAT Law to Replace Sales Tax Regime by 2024

MALAYSIA

• New SDK 1.0 Released by LHDNM

NETHERLANDS

• New VAT revision on real estate services: specific aspects and challenges for businesses.
• Proposal to Increase VAT on Unhealthy Food to 21% for Health Benefits

NIGERIA

• Nigerian Government Exempts Small Businesses from Taxes

PAKISTAN

• OICCI Urges Development of Sales Tax Laws for Distributors to Ensure Consistency and Collaboration

POLAND

• Ruling about Sale of Real Estate Shares – VAT Status and Rate
• Ruling: Legal implications of property sale to current perpetual user
• Ruling: Partial Tax Deduction for Water Infrastructure Investment Expenses

ROMANIA

• Romanian SAF-T Reporting Obligation for Non-Established Taxpayers by January 2025

SAUDI ARABIA

• ZATCA Urges Taxpayers to Benefit from Fine Cancellation and Penalty Exemption Initiative by June 30, 2024

SINGAPORE

• Singapore GST Voucher 2024: Eligibility, Amount, and Payout Date for Financial Assistance

SPAIN

• New Self-Assessment Rectification Regime for VAT: Changes in Tax Legislation and Procedures

SWEDEN

• Tax-free Employee Wellness Activities: Motion and Other Health Activities for Employers and Employees.

TURKEY

• Understanding VAT Rates for Food and Beverage Services in Turkey

UKRAINE

• Formation of VAT in the case of car owner’s repair using insurance payments from insurance company
• Registration of Non-Resident VAT Payer by Representative: Requirements and Electronic Identification Process

UNITED KINGDOM

• Boosting Charitable Giving: Proposed VAT Relief for Donated Goods
• HMRC Announcement: VAT Treatment of Voluntary Carbon Credits Changing from September 2024
• HMRC’s New Guidance on VAT Tertiary Legislation
• Qubic Advisory Services Ltd – UT – Gold bullion – Penalty – whether taxpayer had breached invoicing and record keeping requirements
• Revolutionizing Charitable Donations: Proposed VAT Relief for Everyday Goods
• Understanding VAT Tertiary Legislation
• V-Com Ltd vs HMRC: iPhone Input Tax Dispute – First-tier Tribunal

UNITED STATES

• Florida State Sales Tax on Commercial Leases Decreases to 2% Effective June 1, 2024
• Michigan Sales Tax Implications for Unlicensed Medical Marihuana Provisioning Centers (May 10, 2024)
• Michigan Sales Tax Update: Credit Card Surcharges Taxable, Feminine Hygiene Products Clarified
• Mississippi Sales Tax Reduction on Geophysical Surveying Equipment and Materials
• Oklahoma Sales Tax Update: Definitions for Taxation of Food and Ingredients (May 10, 2024)

WEBINARS / EVENTS

• Taxera webinar – Greece Success Story Webinar (May 16)

WORLD

• E-Invoicing & E-Reporting developments in the news in week 19/2024 – It’s all about ViDA
• VATupdate Newsletter Week 19 2024
• VATupdate.com Daily Newsletter: May 13, 2024

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