VATupdate.com Daily Newsletter: June 20 2024

What happens on June 20 in the world?

World Refugee Day: Observed globally to raise awareness about the plight of refugees and displaced people

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Headlines June 20, 2024

• Belgium Urges Estonia to Lift Objection Blocking EU Agreement on Updated VAT Rules
• 36th VEG meeting – Documents shared (SVR, IOSS) – June 6, 2024
• Malaysia Opens Up MyInvois Testing Environment for E-invoicing Integration
• E-Invoicing in Romania: Complete Guide
• New analysis of the EU reporting landscape 2011-2024 exposes legal certainty issues

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• VATupdate Newsletter Week 24 2024
• E-Invoicing
  • E-Invoicing/Real Time Reporting – What can you find on VATupdate.com
  • 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 May 2024
  • E-Invoicing & E-Reporting developments in the news in week 23/2024
  • E-Invoicing heatmap for Europe
• ECJ
  • ECJ VAT Cases decided in 2024
  • Agenda of the ECJ VAT cases – 2 Judgments, 1 AG Opinion, 1 Hearing announced till July 17, 2024
  • 1013 ECJ VAT Cases are now available on www.VATupdate.com
  • This is what happened in the ECJ (VAT) in May 2024 – ECJ took a siesta
• VAT Rates
  • May 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

• NSW faces budget deficit amid claims of unfair GST distribution by Federal Government

BRAZIL

• Congress Abolishes Limits on PIS and COFINS Contribution Credits for Gross Revenues

CHINA

• China Eyes Consumption Tax Overhaul to Boost Local Government Revenue Amid Housing Crisis

COSTA RICA

• Costa Rica Clarifies Applicable VAT for Private Education Services

CROATIA

• Croatia 2024 eInvoicing Country Sheet

DENMARK

• National Tax Court Clarifies VAT Exemption for Travel Agencies Offering Holiday Home Rentals with Free Services
• VAT on advertising space sales on digital billboards: Electronic services and tax jurisdiction

DOMINICAN REPUBLIC

• Dominican Republic Publishes Updated Lists of Taxpayers Subject to Mandatory E-Invoicing

EUROPEAN UNION

• Belgium Urges Estonia to Lift Objection Blocking EU Agreement on Updated VAT Rules
• 36th VEG meeting – Documents shared (SVR, IOSS) – June 6, 2024
• Belgium struggles for unanimous agreement on ViDA Package amid Estonian opposition
• Comment on ECJ C-533/22: VAT Fixed Establishment – The Court has ruled again!
• EU VAT Expert Group reviews IOSS reforms and proposes solutions for e-commerce VAT issues
• EU VAT fixes for B2C e-commerce IOSS
• Group on the Future of VAT – Minutes of the 45th meeting (May 28, 2024)
• Implementing Online VAT Number Validation in SAP: Integration Flow and Connectivity Guide
• New analysis of the EU reporting landscape 2011-2024 exposes legal certainty issues
• ViDA on the agenda of the Ecofin meeting on June 21, 2024
• New ECJ VAT Case: Keesing Deutschland C-375/24
• Comments on ECJ C-533-22 (Adient): Toll manufacturer not a fixed establishment for VAT purposes

FRANCE

• Optimizing Restaurant Payment Systems in France: Enhancing Efficiency and Customer Satisfaction

GEORGIA

• VAT Exemption for Domestic Pharmaceutical Products Effective June 13, Retroactive to Jan. 26

GERMANY

• BMF releases e-invoicing regulations draft letter
• Draft details published: clearing the fog for B2B mandate in Germany
• E-Rechnungsgipfel 2024: countdown to B2B e-Invoicing in Germany
• Germany publishes e-invoicing draft administrative guideline, accepting feedback until 11 July
• Mandatory Electronic Invoicing: Overview of New B2B E-Invoice Regulations Starting 2025
• Significant simplifications for input VAT deduction –a bright spot for legal entities under public law

INDIA

• GST Council May Introduce New Form GSTR-1A for Enhanced Reporting and Amendments
• GST Council to Introduce GSTR-1A for Amending and Declaring Additional Details in GSTR-1 Returns
• Indian Fertiliser Stocks Surge on Hopes of GST Exemption to Lower Farming Costs

INDIA

• Insurance Agents Urge Reduction of GST on Retail Health Policies from 18% to 5%

ITALY

• Guidance on VAT treatment for a simple and monetized sharecropping contract
• New Reform Aligns Import VAT with Customs Duties, Impacting Indirect Customs Representation
• VAT Non-Deductibility Clarified for Monetized Soccida in Livestock Sharing Agreements by Italian Tax Authority

KENYA

• Kenya Reverses VAT on Bread and Financial Transactions Amid Public Outcry Over Living Costs
• Kenya’s Indirect Tax System: VAT, Excise, and Customs Duties Driving Revenue and Development

MALAYSIA

• Malaysia Opens Up MyInvois Testing Environment for E-invoicing Integration

NETHERLANDS

• Do you owe VAT when selling a building plot as a private individual?
• Update on Dutch Tax Authorities’ ICT modernization

PAKISTAN

• Finance Bill 2024 Overhauls Sales Tax Audit Process, Expands Tax Authority Powers

PHILIPPINES

• Philippine BIR Clarifies VAT Credit on Uncollected Receivables Under Ease of Paying Taxes Act

POLAND

• New KSeF adoption dates Act has been signed
• Prepaid Cards and VAT: Are They Treated the Same as Vouchers?
• Update – Poland Enacts Act for Implementation of DAC7
• VAT exemption denied for sale of divided plot with building permit

ROMANIA

• B2C E-Invoicing mandatory as of 2025
• E-Invoicing in Romania: Complete Guide
• Mandatory Electronic Invoicing for B2C Transactions in Romania Starting January 2025
• Romania Mandates Electronic Invoicing for B2C Transactions Starting January 1, 2025
• Romania to Mandate Electronic Invoicing for B2C Transactions Starting 2025
• Romania updated VAT Return Form: What You Need to Know
• Updated e-Transport System Regulations: The Government Strengthens Monitoring of Goods in Transit

RUSSIA

• New Russian Law Amends Tax Code for Foreign Entities and E-Commerce, Effective July 1
• Russia Clarifies Currency Conversion Requirements for VAT Purposes When Supplying Foreign-Made Goods Under Contract
• Tax Agents must calculate and pay VAT for foreign service providers not registered in Russia

SLOVAKIA

• E-Invoicing in Slovakia: Regulations and Compliance Strategies
• Parliament Rejects Proposal to Reduce VAT and Excise Duty on Gasoline and Diesel Fuels

SOUTH KOREA

• South Korea Considers Extending Tax Reduction on Eco-Friendly Vehicles Until 2026

SRI LANKA

• Sri Lanka to Implement New Tax Changes, Including VAT on Digital Services, by January 2025

SWEDEN

• Administrative Court Rules Full VAT Deduction for Company, Tax Agency to Appeal Decision
• Right to VAT Deduction in Subsidiary Share Sales: Court Ruling and Implications
• Upcoming Fiscalization Updates in Sweden: New Requirements for Cash Registers by 2027

TAIWAN

• Tax Bureau Warns Online Sellers: Comply with Tax Regulations or Face Penalties

UKRAINE

• New Ukrainian Bills Aim to Boost Energy Infrastructure with Tax and Customs Exemptions
• Ukrainian Parliament Approves VAT and Customs Exemption for Demining Machines

UNITED ARAB EMIRATES

• An Overview of UAE’s FTA VAT Audit 2024 for Businesses Entities

UNITED KINGDOM

• Electric vehicle charging – VAT battlelines forming
• Massachusetts Sets Dates for 2024 Sales Tax Holiday

UNITED STATES

• Are Lottery Tickets Subject to Sales Tax in California?
• New Jersey Announces 2024 Back-to-School Sales Tax Holiday from August 24 to September 2
• Oklahoma Exempts Machinery for Digital Assets Mining from Sales and Use Tax
• Six Years After Wayfair: The Ongoing Challenges of Economic Nexus for Online Sellers
• Tennessee Updates Sales and Use Tax Guidance: Key Changes and Requirements Explained
• Top 10 Triggers for Sales Tax Nexus: Essential Insights for Business Compliance
• Updated List of Alabama Counties Participating in 2024 Back-to-School Tax Holiday

VIETNAM

• Vietnam Extends VAT Payment Deadlines for 2024, Including Monthly and Quarterly Payments
• Vietnam Proposes VAT on E-Commerce Imports to Boost Revenue and Ensure Fair Competition

WEBINARS / EVENTS

• Fonoa Webinar – Snap’s Tax Strategy for the Digital Economy (June 26)

WORLD

• Ensuring VAT Compliance: SAP E-Invoicing and Reporting Solutions
• GENA General Assembly Highlights
• Peppol Conference 2024 key takeaways
• VATupdate.com Daily Newsletter: June 19 2024

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