It’s going to be an exiting week for retailers. Black Friday is coming! Whether it is gadgets, bedcovers or shoes: everything is on sale this week! At least in the United States, but also other countries are picking-up this ‘tradition’.
Of course, it isn’t a real tradition at all. It’s a commercial “tradition”, not a folklore, or a centuries old habit, or a cultural rite. Black Friday is simply the day after Thanksgiving, and because many people in the US have a day off, shops try to lure them with ‘spectacular discounts’.
In the Netherlands we also have these days, for example on the 2nd Easter Day. We all go to car dealers and furniture boulevards that day, and we don’t mind spending hours in the car, waiting for a parking spot. Well, it’s probably good for business… and a lot of VAT is collected that day.
Not in the US of course. Sales Tax perhaps, but it will be a long time before the US will implement a VAT system. That’s not a bad thing. But it means that US businesses will have to be aware of the fact that if they have activities or sales outside their own country, they may run into VAT.
And even though the rest of the world may copy some US traditions such as Black Friday, VAT is one tradition that will likely never be replaced by a sales tax. Probably.
If you have any traditions or ideas that you want to share with us, please send us an email at [email protected] or leave a comment under the posts of this newsletter on LinkedIn.
To go to the specific region of your interest, follow the link below.
We’re looking forward seeing you again next week.
WORLD
- Job opportunities in Australia, the Netherlands, Poland and United Kingdom
- Job opportunities in Belgium, Netherlands, Sweden and United Kingdom
- Electronic Signature vs. Digital Signature
- Global overview of future e-invoicing, e-filing, real time reporting, SAF-T – upcoming changes (status Nov 19, 2021)
- Real-time reporting models compared (Brazil, Hungary, Italy)
- Taxation of the digitalized economy – Developments summary
- The law and policy of VAT tourist tax refund schemes: A comparative analysis
- Transitioning from paper to electronic receipt
WEBINARS / EVENTS
- Webinar by SNI on November 17, 2021: How can taxpayers adapt to the new SAF-T regulation in Romania?
- Webinar Sovos – VAT Reporting and SAF-T: Are these updates on your radar? (Dec 8, 2021)
- Webinar: Protecting your supply chains in a post-Brexit and COVID-19 world (Nov 23, 2021)
AFRICA
- Commentaries on the VAT (Modification) Order, 2021
- KPMG Seeks Govt Clarification on Exemption of Diesel from VAT
- Nigeria Publishes Guidelines on Simplified Compliance Regime for VAT for Non-Resident Suppliers
- VAT compliance guidance for non-residents selling goods and services through electronic or digital means
- VAT saga: Malami backs finance minister, says political solution can’t be ruled out
AMERICAS
- Chilean IRS issued a clarification on VAT exemption for exported services
- VAT treatment of audio-visual services, newspaper subscriptions, financing operations
- Mexico publishes new list of foreign digital service providers to be VAT registered
- Tax Administration Updates List of Non-Resident Digital Service Providers Registered for VAT purposes
- 2022 Sales Tax Preparedness Guide
- Arkansas: Opinion Letter Addresses When Online Marketplace Qualifies as a Marketplace Facilitator
- Comments on Maryland’s Digital Advertising Tax Regulations
- December 2021 sales tax due dates
- How Home Rule States Have Responded to Wayfair
- Is food taxable in Tennessee?
- Louisiana voters reject sales tax collection overhaul amendment
- Marketplace facilitators (Arkansas)
- Ohio Department of Taxation Explains Marketplace Facilitator Economic Nexus Thresholds
- Sales tax and food tours (Arkansas and Colorado)
- Sales tax refunds (Illinois)
- Taxable information services (Texas)
ASIA-PACIFIC
- Exporters can speedily pass through ports as VAT-exemption process relaxed
- Govt publishes list of highest VAT payers
- China VAT on foreign digital services
- Customs stops issuing VAT invoices for copper imports – sources
- A2ZTaxCorp’s Weekly GST Communique dated November 15, 2021
- CBIC Issues Guidelines to GST Officers on ITC Blocking
- Certification or Declaration under GST Rules not required to be furnished along with Application for Refund of Excess Balance in Electronic Cash Ledger
- CGST officials unearth ITC fraud of around Rs 34 crore involving 7 firms
- CGST, SGST, IGST and UGST – Meaning, Apportionment and Method of Payment
- Clarification issued on certain issues related to refund under GST: CBIC Circular
- Clarification on applicability of Dynamic QR Code on B2C invoices
- Clarification on certain GST refund related issues
- Clarifications Regarding Applicable GST Rates & Exemptions on Certain Services
- Companies reach out to government for clarity on GST applicability on credit notes
- Constitution Of The GST Appellate Tribunal – Need For Speedy Judicial Remedy
- Food delivery apps like Zomato & Swiggy, and Cloud kitchens brought within the restaurant services, liable to pay GST
- Govt likely to classify cryptocurrency exchanges as e-commerce platforms; levy 1% GST
- Group of Ministers may push for hiking GST on some goods, services
- GST could see major overhaul; reducing tax slabs, pruning exempt list on table
- GST on Intra-State supplies of Motorcycle, Omnibus or any other Motor Vehicle shall be paid by Electronic Commerce Operator: CBIC
- GST Rates & Classification of Goods – Recent Clarifications
- India could levy GST on cryptocurrency exchanges
- No GST on reimbursement of stipend from industry partner which was disbursed to trainee students : AAR
- No Service Tax leviable on Commercial Coaching or Training Services: CESTAT
- No service tax on commission received for recruiting students to foreign universities
- Powers of GST Officers
- Pure Services Under GST-Detailed Analysis
- PVAT: No penalty merely for issue of invoice in two consecutive serial numbers
- Reasoned order to be passed against the accused taxpayer involved in passing on fake ITC without actual movements of goods
- Removed exemption on supply of pure services and composite supply of goods & services where value of supply of goods is not more than 25% to a…
- Separate GST registration not required for selling goods directly from port of import before clearing it for home consumption
- Standard automated services provided without human intervention are not Fees for Technical Services
- Supreme Court disallows rectification of return to obtain GST refund
- The curious case of GST on ice cream parlours: To tax at 5% or 18%
- Tripura reduces VAT on aviation fuel
- Hajj, Umrah Travel Services Not Subject to Value-Added Tax: Minister Airlangga
- Indonesia publishes law with VAT rate and exemption changes
- GST – Input tax deductions, penalties
- GST reforms: GST is moving into the digital age and other remedials are proposed
- PUB00330: GST – goods purchased on deferred payment terms
- Cruxes of the proposed VAT on digital transactions
- Philippines proposes law imposing VAT on non-resident digital service providers
- GST zero-rating for sales of exported goods
- Media sales: Zero-rating applies will be changed from the place of circulation of the advertisement to where the customer reside
- Implementation of special GST from 1 January 2022
- Increase in VAT rate on financial services from 15% to 18% during 2022
- Sri Lanka announces new Goods and Services Tax
- Sri Lanka temporary VAT hike on financial services to 18% 2022
- Thailand clarifies scope of digital services VAT rules
- Updated FAQs published on e-services tax
- Voluntary disclosure program for duty underpayments is available for five more years
- MoF issues Circular 80 guiding the Policy on Tax administration for e-Commerce business activities
- Vietnam rolled out e-invoices in November 2021. How to register?
- Vietnam VAT e-invoice 2022
EUROPE
- ECJ C-281/20 analyzed – Part 3: For the application of art. 199(1), no invoice is required to deduct the VAT
- ECJ C-281/20 analyzed – Part 4: Neutrality principle, Substance over Form and the Right to deduct VAT
- ECJ C-281/20 analyzed – Part 5: Evidence to proof material requirements to be provided by Taxable Persons
- ECJ C-281/20 analyzed – Part 6: Impact of Fraud on VAT deduction, Conditions when Fraud can be considered
- ECJ C-281/20 analyzed – Part 7: No right to deduct VAT is status of taxable supplier is not checked and in case of VAT fraud
- ECJ C-358/20 (Promexor Trade vs RO) – Decision – Involuntarily de-registered taxable persons liable for VAT but no right to deduct VAT
- ECJ VAT Cases decided in 2021 so far related to ”Right to deduct VAT”
- European Court of Justice Explains Rules on VAT Refunds
- Flashback on ECJ Cases – C-210/11 & C-211/11 (Medicom and Maison Patrice Alard) – Provision of part of the business premises as a residence free of charge does…
- Flashback on ECJ Cases – C-560/11 (Debiasi) – No right to deduct for VAT exempt transactions, pro rata VAT deduction in case of mixed…
- 2022 EU VAT registration and Intrastat thresholds
- Are you VAT ready for Black Friday & Cyber Monday?
- Cancellation and reissuance of an invoice does not have any impact on the VAT refund period
- Developments of E-Invoicing/Digital VAT reporting in Europe: Are you ready for Jan 1, 2022 (and 2023, and 2024, and 2025)
- E-Commerce VAT Reform – Infringement Procedure Against Denmark, Croatia And Lithuania
- EU 2022 Intrastat reporting updates
- EU 2025 VAT registration thresholds equivalence for foreign businesses
- EU put Croatia, Denmark and Lithuania on yellow card for e-commerce package implementation
- EU VAT, quo vadis: the expert’s advice to the European Commission
- Intrastat: Major updates required per Jan 1, 2022
- New VAT aspects of B2C trade between EU and NI
- Standard SAP validation VAT ID during business partner creation (without VIES check)
- VAT treatment of trusts from a VAT perspective in Switzerland, the United Kingdom and the EU
- Wise Persons Group on Challenges Facing the Customs Union (WPG)
- Draft bill to introduce Carbon Tax
- The Council of the European Union made a Decision on Austria’s ability to restrict VAT!
- Belgian Minister of Finance confirms intention to implement mandatory B2B e-invoicing, digotal reporting not (yet) a priority
- Minister of Finance confirms intention to implement mandatory B2B e-invoicing
- Modification of the VAT exemption for medical care
- New bill changes the VAT regime of aparthotels
- Rent student rooms
- EU put Croatia, Denmark and Lithuania on yellow card for e-commerce package implementation
- European Union Gazettes Decisions Approving Croatian, Estonian VAT Deductions on Non-Business Use of Passenger Cars
- EU put Croatia, Denmark and Lithuania on yellow card for e-commerce package implementation
- VAT exemption for certain educational services, artistic licenses may be abolished
- VAT on waste disposal services – draft control signal has now been published
- Changes Jan 1, 2022: Postponed accounting import VAT, suppression of the current Instrastat return and new reporting obligations for…
- France simplifies Deferred VAT Accounting on import VAT
- France will launch e-invoicing through a tax clearance model in 2024
- Pervasive Application Of The Postponed Accounting For VAT On Import As Of 1st January 2022
- FAQs relating to myDATA
- Request for VAT 13% on children’s clothes – shoes
- Single VAT return and submission procedure (Special arrangements for Articles 47b, 47c and 47d of the VAT Code)
- The Latest on E-invoicing & E-reporting
- The new reduced VAT rates on specific goods and services – Clarifications on implementation
- VAT exemption for Center of Excellence for Unified Anti-Aircraft Missile Defense based in Chania as an accredited NATO Army
- Hungary Parliament Considers Bill to Reduce VAT Rates on Specific Food Products
- Real-time reporting models compared (Brazil, Hungary, Italy)
- What is Online Számla?
- E-invoices in Italy: further extension of the application deadline to 31 December
- E-invoicing Updates in Italy
- Real-time reporting models compared (Brazil, Hungary, Italy)
- Refund of VAT and invoice issued by mistake or with errors, the same VAT taxable person cannot issue a credit note.
- Registration of means of transport in Italy
- Tax authority issues ruling, recognizing UK VAT groups after Brexit
- A deadline for VAT filing and payment of November monthly returns set at Dec. 14
- Luxembourg SAF-T (FAIA)
- Can cohabiting persons can make property available to their joint venture?
- Export not in the context of delivery, zero rate wrongly applied
- Improve your cash management via VAT: 10 tips
- Market-maker is not entitled to additional VAT refund
- No legal assistance needed for dispute VAT deduction
- No reduced rate of turnover tax for arcade
- Post-Master EU VAT (in English) Erasmus University Rotterdam
- When installing solar panels, no right to VAT deduction on the construction of a home
- Attracting capital and investors to Poland: VAT coverage of financial services
- Draft version of the logical structure of e-Invoices
- E-invoicing & the National System of e-Invoices (KSeF) signed into law (Nov 15, 2021)
- Free of charge supplied services can not be documented with an invoice, no VAT deduction by the recipient
- Interpretation 590 will make it easier for investors from January 2022
- Much more information will have to be provided in the new e-invoices – 300 items?
- Poland implements VAT group simplification option January 2022
- Polish Deal, signed by President, includes establishing the rules of taxation in the VAT group
- Polish Order signed: Optional taxation of financial services, VAT grouping
- Structured invoices, a pilot as of Jan 1, 2022 – These are the advantages ….
- Supreme Administrative Court: No Fixed Establishment as no employees, no infrastructure, no decision taking in Poland
- The lack of VAT invoices does not always deprive you of the right to deduct the tax
- Extended deadline to pay VAT – September 2021 to April 2022 monthly returns + 4Q 2021 return + 1Q 2022 return
- Portugal’s Invoicing Rules Are Changing
- Portuguese VAT return due date extended and ATCUD invoicing requirement delayed
- Tax calendar 2021 & 2022: Use of pdf extended till June 30, 2022 & ATCUD implementation delayed till 2023
- E-Factura – Romania’s New E-invoicing System
- Important new clarifications SAF-T and other implications of the large list of large taxpayers
- New deadline in Romania for submitting the first Declaration (SAF-T) for new entrants on the list of large taxpayers
- Romania 5% reduced VAT rate on e-books 2022
- Romania SAF-T – Declarației informative D406 – Jan 2022
- Romania SAF-T: New Guidance for Submission Deadlines
- Obligation of VAT payers to publish bank accounts
- VAT amendment requires reporting of bank accounts by 30 November 2021
- What brings the amendment to the Slovak VAT Act?
- Federal Supreme Court Rules on VAT Treatment of Re-sale of Treasury Shares
- VAT treatment of trusts – Proposal of a revised Swiss guideline on trusts and thoughts from an EU VAT perspective
- VAT treatment of trusts from a VAT perspective in Switzerland, the United Kingdom and the EU
- Turkey e-invoice e-Fatura and e-Arşiv extended to more taxpayers
- Turkey Expands Scope of E-Documents
- Turkey Tax Agency Updates Special Consumption Tax Rates on Fuels
- Are transactions for the supply of scrap and waste of precious metals subject to VAT?
- Export of goods under commission agreements: how to charge VAT?
- Guidance on Changes in Taxation for Supplies of Electronic Services and Advertising from 2022
- How are VAT exemptions applied to humanitarian aid provided by diplomatic missions?
- How to correct the error in Tables 1 and 2 of Annex 5 to the VAT return?
- Motivational payments to customers: how does VAT apply?
- Sale of tickets for sports events: deputies propose to reduce VAT
- State support of scientific and technical institutions: goods imported for use in scientific activities are proposed to be exempt from VAT and duties
- The government exempted from VAT the import of equipment for the production of vaccines from COVID
- Ukraine Parliament Considering Reduced VAT Rate on Energy Carriers and Related Services
- A supply of land or of self-storage facilities?
- Are you VAT ready for Black Friday & Cyber Monday?
- Corporate report: People involved in transactions connected with VAT fraud
- FTT Mpala Mufwankolo case – Right to recover VAT charged by the landlord of the property from which he ran his business
- Full border controls for trade between the EU and UK from Jan. 1, 2022
- HMRC Guidance: Check how to pay duties and VAT on imports
- HMRC Guidance: Complete your VAT Return to account for import VAT
- HMRC Guidance: Help and support for Making Tax Digital
- HMRC’s internal guidance on its approach to valuation
- Input tax recovery. The Mpala Mufwankolo case
- Is an umbrella company providing VAT exempt medical care?
- Jersey’s 2022 Budget Bill: Large online retailers required to charge GST to Jersey’s customers starting from 2023
- Make sure your rest of the world to Northern Ireland declarations are successfully submitted on the Customs Declaration Service
- New VAT aspects of B2C trade between EU and NI
- Proposed legislation for notification by large businesses of uncertain VAT treatments
- Store First Midlands: lease and leaseback of self-storage – FTT
- Temporary change in the operation of import declarations to Northern Ireland
- The Making Tax Digital System Will Be Compulsory As From 1 April 2022
- UK HMRC Resolving Repayment Issues for Overseas UK VAT-Registered Traders Following Brexit
- UK VAT on foreign digital services
- UK VAT refunds to foreign businesses made easier
- Upper Tribunal: Mainpay Ltd v HMRC – Exempted medical services
- VAT business test
- VAT treatment of trusts from a VAT perspective in Switzerland, the United Kingdom and the EU
MIDDLE EAST
- Amendments to the implementing regulations for VAT to align with the requirements of applying the provisions of the electronic billing regulations
- New Fines for Non-compliance with E-invoicing Rules
- QR Code in Base64 encoding for KSA E-Invoicing
- Saudi Arabia is enforcing E-invoicing (Fatoora) Phase One from December 4, 2021
- The E-invoicing Rollout in Saudi Arabia
