VATupdate.com Daily Newsletter: July 8, 2024

What happens on July 8 in the world?

Argentina independence day

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Headlines July 8, 2024

• E-Invoicing & E-Reporting developments in the news in week 27/2024
• Germany 2024 eInvoicing Country Sheet
• Saudi Arabia Determines Criteria for 13th Wave of the Integration Phase for the Country’s New E-Invoicing Requirements
• Amazon Ends Call-Off Stock: New VAT Registration Requirements for Sellers
• Luxembourg raises VAT registration threshold to €50,000 as of Jan 1, 2025

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• VATupdate Newsletter Week 26 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 June 2024
  • E-Invoicing & E-Reporting developments in the news in week 27/2024
  • E-Invoicing heatmap for Europe
• ECJ
  • ECJ VAT Cases decided in 2024
  • Agenda of the ECJ VAT cases – 4 Judgments, 1 Hearing announced till July 17, 2024
  • 1013 ECJ VAT Cases are now available on www.VATupdate.com
• VAT Rates
  • June 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

• Understanding the GST Analytical Tool for Accurate Tax Reporting and Assurance
• Australia’s New Consumption Tax Classification Guide: Seeking Input from Stakeholders

 BAHRAIN – GCC MIDDLE EAST – SAUDI ARABIA – UNITED ARAB EMIRATES

• GCC Indirect Tax News Roundup – Quarter Two 2024

 CHILE

• Chilean VAT Rates, Compliance, and Recovery: A Guide for Foreign Companies

 CYPRUS

• Cyprus Extends 0% VAT on Essential Products Until September 30, 2024

 EL SALVADOR

• Relevant aspects to consider in the implementation process for Electronic Tax Documents in El Salvador

 ETHIOPIA

• Ethiopia’s Parliament Passes VAT Proclamation and Export Tax Incentive Amendments

 EUROPEAN UNION

• Non-EU goods of a value of €22 or less do not pay VAT at importation. TRUE or FALSE?
• Comments on ECJ C-179/23: A collective management organization provides a service under the VAT directive
• Comments on ECJ C-87/23: Subsidies from a European fund are included in the taxable amount

 EUROPEAN UNION – FRANCE – GERMANY – ITALY – POLAND – ROMANIA

• Council Implementing Decisions allowing Member States to implement Mandatory B2B E-Invoicing (Status July 2024)

 EUROPEAN UNION – INDIA – WORLD

• EU-India Collaboration on CBAM and Taxation: Strengthening Ties for Decarbonisation and Trade Growth

 EUROPEAN UNION – POLAND

• Flashback on ECJ Cases C-426/07 (Krawczyński) – Excise duty on the sale of motor vehicles before their initial registration is not a form of unlawful turnover tax

 EUROPEAN UNION – ROMANIA

• Comments on ECJ C-179/23: VAT on Credidam’s Collective Copyright Management Fees

FINLAND

• Finland is considering increasing its value added tax rate from 10% to 14%
• Finland’s VAT Rate to Increase: Impact on Tax Compliance and Reporting Requirements

 FRANCE

• Understanding VAT Exemption for Medical Services: Implications and Conditions for Healthcare Providers

GERMANY

• Germany’s Federal Cabinet Approves VAT Reform Law: Changes in Input Tax Deduction and Invoice Details

INDIA

• Mastermind and accomplices arrested in Mumbai for 175cr GST refund scam

ISRAEL

• Israel Government Raises VAT Rate to 18% to Reduce Deficit: Impact on Inequality and Economy

 ITALY

• VAT Deduction for Investment Gold: Supreme Court Ruling and EU Directive Alignment
• Italian Supreme Court Questions Customs Confiscation for Import VAT Evasion: Disproportionate Sanctions?

LATVIA

• Latvia 2024 eInvoicing Country Sheet

 LIECHTENSTEIN

• Liechtenstein 2024 eInvoicing Country Sheet

LUXEMBOURG

• Luxembourg Government Approves Decrease in VAT on Artworks to 8% from 2025
• Luxembourg VAT Registration Threshold Changes 2025: Implications for Businesses and Cross-Border Trade

 MADAGASCAR

• Madagascar’s Centralised e-Invoicing Platform: A Guide for Businesses in Tax Compliance

 MOROCCO

• Moroccan Ministry of Economy and Finance issues guidance on VAT refunds for overseas purchases.

 NETHERLANDS

• BV X’s Thesis Review Service: VAT Exemption Dispute – Court Ruling July 4, 2024
• VAT and Bad Debts in the Netherlands: Adjusting Taxable Amount and Related Output VAT
• VAT Invoicing Guide for Services: Templates and Tips for International Business
• Understanding VAT and Bookkeeping Rules in the Netherlands: Essential Information for Entrepreneurs

NORWAY

• Revised VAT Repayment Rules for Passenger Vehicles in Norway: Impact on Leasing and Taxi Sectors

 PAKISTAN

• Recent Amendments in Sales Tax: Briefing on Federal Budget 2024-25 by FCCI President Dr Khurram Tariq

 PARAGUAY

• Paraguayan Tax Agency Clarifies VAT Exemptions for Securities Repo Operations under Law No. 6380/2019

 PHILIPPINES

• VAT Adjustments for Uncollected Receivables & Goods in the Philippines

POLAND

• Understanding VAT Groups: Benefits, Requirements, and Procedures in Poland (July 5, 2024)
• Sale of undeveloped land plots: VAT implications for Foundation’s planned transactions.
• ViDA: Upcoming Changes in VAT System for Digital Platforms and E-Invoicing by 2027
• Tax Implications of Selling Property Share: Private Asset Management Transaction Exempt from VAT
• Incorrect Tax-Exempt Sale of Undeveloped Land Plots: Municipality’s Position Challenged by National Tax Information
• VAT Implications of Real Estate Sale by Private Individuals: Case Study and Interpretation
• Non-Commercial Trail Project: VAT Deduction Denied by Tax Director
• Tax Deduction for Water Infrastructure Investments in Gmina: VAT Implications and Calculation Methods
• Ineligible VAT Deduction for Volunteer Fire Brigade Improving Local Infrastructure Project
• Tax-Free Transfer of Wind Farms: VAT Exclusion for Father-Son Enterprise Donation
• VAT Implications of Electric Car Purchase by Non-Taxable Powiat: No Deduction Allowed
• Court Upholds Denial of Input VAT Deduction for Invoices Lacking Evidence of Economic Activities
• Assignment of rights under the development agreement, however, with 23% VAT
• VAT rate for take-away sales is 5%

PORTUGAL

• Government Introduces VAT Groups for Economic Groups in ‘Accelerate the Economy’ Programme
• Government approves 60 measures to boost economy, including reduced corporate tax and creation of VAT groups.

 QATAR

• VAT rates in Qatar

ROMANIA

• Reducing CO2 Emissions: The Impact of Uncollected VAT and Electronic Invoicing Solutions
• Romania’s Proposal for Mandatory RO E-Invoice Register Procedure
• Implementation and Use of Pre-Completed RO e-VAT Return: Key Provisions and Deadlines (July 2024)
• Romania Introduces Revised Prefilled VAT Return Format and Content for 2024 Compliance
• Romania to Implement Mandatory B2B and B2C E-Invoicing from 2025
• Updates on RO e-Invoice System: New Regulations, Deadlines, and Exemptions Explained

SAUDI ARABIA

• ZATCA Extends Tax Amnesty Programme to 2024 to Support Businesses During Pandemic
• Saudi Arabia’s Criteria for 13th Phase of E-Invoicing Integration Unveiled by ZATCA

 SINGAPORE

• E-Invoicing in Singapore

SPAIN

• V0637-24 Consultation: VAT Billing for Golf Class Reservations and Field Rentals via Web Apps
• TEAC Ruling on Knowledge Theory: Denial of VAT Refund for Abusive Practices

 UNITED ARAB EMIRATES

• UAE FTA VAT Clarification: Manpower vs Visa Facilitation Services Distinction Explained
• Navigating Tax Implications of Ramadan Generosity: A Guide for UAE Businesses

UNITED KINGDOM

• Declining VAT Gap Poses Challenge for Tax Revenue Plans
• HMRC Guidance: The New Computerised Transit System – supporting guidance
• HMRC Guidance: Customs Civil Penalties

UNITED STATES

• Oklahoma Sales Tax Exemption for Digital Asset Mining Machinery: Legislation Overview
• New Jersey Assembly Repeals Annual Sales Tax Holiday, Impacting Back-to-School Shopping
• Florida Implements Tax Exclusion for Long-Term Motor Vehicle Leases to Boost Business Efficiency

VIETNAM

• Extension of Temporary 8% VAT Rate Until 31 December 2024: Decree 72 Summary and Guidelines

 

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