The Olympics have come and gone. Not a bad result for the Netherlands, so we should be happy. It’s surprising that some of the people are not happy if they don’t have a gold medal. Whereas all the contestants are super people! Bill Murray once said: “Every Olympic event should have an average person competing for reference.”
No, I’m not going to compare VAT people to Olympic sporters. Or argue that VAT should be an Olympic sport. The Olympic thought is (or should be): it not about winning, it’s about participating. And if anything, that is what VAT is about as well.
Because, whether you like it or not, VAT is for everyone. Perhaps not everyone likes it that much as we do.
We stick with the Olympics for a moment. Did you know that the previous winter Olympics in South Korea in 2018 were hacked? The hack started during the opening ceremony, and it took the IT people 12 hours to find a solution. Amazingly, it worked. The day’s skating and ski jumping events went off with little more than a few Wi-Fi hiccups.
The full story can be read HERE.
This example shows that technology can be wonderful, and a great tool, but it can also make you vulnerable. Without technology, your business would not be able to run smoothly. But it’s also almost impossible to run a business without technology. How would you issue your invoices, communicate with clients and colleagues, and ensure that your VAT is calculated correctly and reported on time?
At least you should not have to worry about VAT knowledge. We make sure that you receive that every day via VATupdate.com. Make sure you visit us every day!
If you have any comments, questions, 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.
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WORLD
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- What are Continuous Transaction Controls?
- Benefits of shared service centres in tax processes such as indirect tax and transfer pricing
- Alternatives for tax determination in SAP
- Global e-invoicing, SAF-T and pre-filled filings kill off VAT return?
- Do I need to collect sales tax for selling online?
- Vertex delivers on indirect tax management helping businesses to manage digital sales
- The indirect tax of choice – the rise of VAT internationally
- VATupdate – Your repository for national VAT legislation
- A next generation model for electronic tax reporting and invoicing
- What is Peppol and Why is it Spreading Around the World?
- Bridging the Digital Divide in Tax
- More than 40,000 newsitems on www.vatupdate.com – HOW TO SEARCH?
- Tax Technology Insights Exchange Survey Results
- VAT by another name – the local names for indirect tax regimes across the globe
- How to enhance customs and VAT outcomes in commercial supply chains
- PE Watch – Latest developments and trends, February 2022
WEBINARS / EVENTS
- SNI Webinar: Preparing for SAF-T Reporting and E-Invoicing in Romania (Feb 24, 2022)
- Sovos Webinar: Spotlight on SAF-T: How is it evolving? (Feb 15, 2022)
- Vertex – Breaking the Boundaries of Tax Exchange Europe 2022 – Tuesday 26 April | London
AFRICA
AMERICAS
- Canada Consulting on Tax Proposals for Certain Budget 2021 Measures and Others
- Canada’s Department of Finance releases draft legislation for 2021 budget measures
- Ecuador Regulates Application of Reduced VAT Rate for Taxpayers in Tourism Sector
- Ecuador Provides 0% Remittance Tax Rate for Fuel Imports
- Missouri lawmakers consider making diapers exempt from sales tax
- Arizona Company Urges Federal Court to Hear its Constitutional Challenge to Louisiana’s Sales Tax System
- Washington D.C. Sales Tax Compliance Rates
- Illinois Excludes Occasional Sales From Sales Tax Calculations of Remote Retailers but Not Marketplace Facilitators
- Tennessee Exempts Industrial Machinery Used in Quarries from Sales Tax
- How to Use a South Dakota Resale Certificate
- The most common sales tax questions, answered by the experts
- Sales Tax Compliance Challenges and the Great Resignation
- Michigan Sales And Use Tax Audits: Have You Been Selected?
- 4 Trending 2022 Sales Tax Issues
- Massachusetts Adds New Requirements to MassTaxConnect Returns
- New York Advertising Analysis Service Provider to Collect Sales Tax
- Colorado Court Tosses Capital One’s Sales Tax Refund Claim Based on Bad Debt Accounts
- NYS Tax Appeals Tribunal Confirms Sales Tax Treatment Of Advertising-Related Information Services
- State and Local Sales Tax Rates, 2022
- Maine Revenue Services discusses remote seller and marketplace facilitator nexus and registration
ASIA-PACIFIC
- ATO guidance on GST reverse-charge provisions for financial services, insurance
- Briefing document: ATO guidance on GST reverse charge provisions
- Australian Parliament passes bill to reform electronic signing of documents, virtual and hybrid meetings
- ATO Notes Benefits of e-Invoicing
- China scrap market participants cautious about new VAT policy
- Reduction of excise taxes, import duties, etc from February 7 to April 30, 2022
- VAT exemption for qualified technology business incubators, deductions for venture capital enterprises, …+
- Coming soon, a structural revamp of GST
- Govt likely to propose 18% GST on crypto mining, trading entities
- GST Council may cut tax exemptions, hike rates
- GST exempt on leasing out residential premises as hostel
- GST overhaul likely soon; 3 tax slabs, exemption cuts, rate hikes on the cards
- GST Updates – Feb 14, 2022
- GST Updates – Feb 15, 2022
- GST Updates – Feb 18, 2022
- GST Updates – Feb 19, 2022
- GSTN enabled feature to withdraw GST registration cancellation application
- GSTN enables Feature to Withdraw application for Cancellation of GST Registration
- IGST not payable on residential dwelling rented for the purpose of hostel
- Income earned from providing guest lectures liable to 18% GST: AAR
- Instructions for enabling Internal Control Mechanism for Refunds in GST
- Weekly GST Communique dated February 14, 2022
- Update on certain indirect tax exemption measures from Budget 2022
- Special voluntary disclosure and amnesty program available for indirect taxes
- VAT rate increase from 7 to 8% in January 2023 and to 9% in January 2024
- UOB economist: GST hike may set in by July 1
- 48% of Singaporeans to Spend Less If GST Raised: YouGov
- South Korea VAT e-invoice e-Tax – threshold cut July 2022
- South Korea Expands Mandatory E-invoicing Scope
- Mandatory e-Invoicing in South Korea in 2022
EUROPE
- European Parliament resolution of 16 February 2022: what is the missing part to reduce the EU VAT gap?
- Important EU VAT reforms gain support by the member states as well as by the European Parliament
- Owners of luxury yacht ordered to pay 4 million euros in VAT
- EU Parliament backs harmonised e-invoicing and definitive VAT system
- Commission Implementing Regulation (2021/1832) on New Commodity Codes for 2022 – Needed for Intrastat reporting!!!
- Public consultation on EU rules governing e-commerce transactions from third countries
- European Commission to regulate the application of VAT on services provided by digital platforms
- EU VAT triangulation – automating determination
- EU solution to double taxation on IOSS VAT
- EU proposes extension of anti-fraud reverse charge powers
- Loyens & Loeff – EU Tax Alert Highlights 2021
- Can the transfer of a building be treated as a “Transfer of Going Concern” for VAT?
- European Commission Proposes Extension of VAT Reverse Charge Mechanism to Combat EU Intra-Community Fraud
- EU Single Market for goods requires harmonized rules for packaging
- ECA review 01/2022 on “Energy taxation, carbon pricing and energy subsidies”
- EU solution to double taxation on IOSS VAT
- The use of new technologies in VAT and taxpayers’ rights
- Tax (incl. VAT) Payment Deferrals for COVID-19
- Group of the Future of VAT – 37th meeting on Feb 9, 2022 – Discussions on IOSS, Platform economy, Real Time Reporting, Blockchain
- Import procedure 42: VAT-exempt supply in EU
- French Presidency Looking to Push for Harmonized B2B E-Invoicing Requirements Across the EU
- Does the rental of a building abroad constitute a permanent establishment? (ECJ C-931/19)
- Flashback on ECJ Cases – C-18/05 & C-155/05 (Villa Maria Beatrice Hospital) – Supplies of goods that were used exclusively for exempt activity and for which no right of…
- New VAT case: ECJ C-108/22 (Dyrektor Krajowej Informacji Skarbowej vs PL) – No details published yet
- New VAT case: ECJ C-78/22 ALD Automotive vs CZ
- ECJ (NOT VAT) C-156/21 & C-157/21 (Hungary & Poland vs Parliament & Council) – Principles, objectives and tasks of the Treaties
- Commentary on ECJ (C-9/20 Grundstücksgemeinschaft Kollaustraße): Input VAT deduction in case option to charge VAT upon receipts is chosen
- Commentary on ECJ C-9/20 (Grundstücksgemeinschaft Kollaustraße): Input VAT deduction at time of payment in case of cash accounting scheme
- Commentary on ECJ C-90/20 (Apcoa Parking) – Yet another case of VAT and compensation?
- Adjustment of sales tax in the event of bad debts
- Triangulation: also if the middle trader is VAT registered (but not resident) in the country of destination, but uses the VAT number of another Member State
- Intrastat returns in Belgium: 2022 updates
- Scope & Timeline Implementation of mandatory B2B E-Invoicing in Belgium
- E-Invoicing in Belgium explained
- Circular 2022/C/18: Changes made in the field of VAT on the prevention of money laundering and the financing of terrorism
- Payment term of commercial transactions between companies cannot exceed 60 calendar days
- National Bank communicates on changes on Intrastat reporting
- Garage mechanic, coachbuilder, vehicle retailer…: VAT certificate only required for dealer plates
- Extension of the reduced VAT rate on certain supplies in Bulgaria
- Extension of the scope and the term of the application of the reduced 9% VAT Rate
- Possible reduction in VAT rates in Bulgaria
- E-Invoicing: Authorities will offer a free invoice archiving service to taxable persons for the issuance/receipt of e-invoices
- Import VAT pre-filled on VAT returns as of January 1, 2022 – what if pre-filled number is incorrect?
- Adjustment of VAT rates for human food, animal food, and agricultural products in France
- New Online Service For Customs Declarations Regarding Reverse Charge Of Import VAT
- A new 10 percent tax on retail food sales
- 5 Recent Major (& More) VAT developments in France
- Decree No. 2022-126 of February 4, 2022 setting the procedures for filing customer summary statements
- VAT at 5.5% until December 2022 for products adapted to the fight against covid-19
- Liability of VAT on instalments for the provision of services
- Changes to VAT Compliance after implementation of Import VAT deferral
- Correction of import VAT deduction
- Virtual versus terrestrial slot machines: are they treated equally for tax purposes?
- Damages and remuneration for payments after cancellation of an architect’s contract
- Correction of the import VAT deducted as input tax in the event of an insolvency challenge
- German industry wants export rebates, free certificates and a carbon border levy
- Irish Revenue Department is conducting a study of potential VAT invoice digital reporting requirements
- Ireland will consult on a VAT Digital Reporting and E-invoicing System
- Resolution no. 79/E/2021 – Taxable amount for VAT purposes of purchase of NPLs
- VAT treatment of monetary differentials
- Circular No. 3/2022 to address tax measures from the 2022 Budget
- Five key questions about e-Invoicing in Italy
- Urgent Measures to Support Businesses in Relation to the COVID-19 Pandemic and Increased Energy Prices
- Foreign Entities Providing Digital Services in Kosovo Obliged to Register for VAT
- Kosovo Issues Notice on VAT Obligations for Foreign Providers of Digital Services
- Foreign entities that provide digital services or electronically supplied services are obliged to register for VAT
- Latvia Tax Agency Updates Guidance on Company Car Tax
- Latvia Tax Agency Updates Guidance on Special VAT Regimes for Electronic Communication, Broadcasting, Media Services
- Supreme Court provides an explanation for determining organizational interdependence and status of the VAT tax unity decision
- Cabinet is looking at possible zero VAT rate on solar panels
- Netherlands raises Intrastat threshold 2022
- Deduction VAT solar panels water board
- VAT audit at municipalities leads to a correction in 62% of the cases!
- Supreme Court rules on school structure
- Amendment of VAT law has consequences for WNT audit by accountant
- No legal basis obliging eHerkenning
- VAT payments are not proof of tax fraud
- Additional 24-hour care services to external healthcare institutions exempt from VAT
- VAT deduction at temporarily free music festival
- No legal obligation to purchase eHerkenning for filing a tax return
- Tax technology will affect the tax specialist one hundred percent, but it will remain a tool
- Delivery of plot with quay wall and usable buildings below ground level is VAT-exempt delivery of built-up land
- Adjustment of VAT pre-deduction because taxed rental is not made plausible
- VAT treatment of canteen supplements, mval. § 1-3 first paragraph a)
- Recurring fee settlement at newly built premises. Questions about the premises being rented out within six months after completion of the construction…
- Loss of outstanding receivables where the receivable has changed its nature to financial assistance. Note in VAT notification, additional tax
- SAF-T Accounts for financial activities, insurance companies and pension companies
- Rules of VAT refund in Poland
- SLIM VAT 3 – changes in value-added tax
- SLIM VAT 3 announcement of further changes
- Polish Deal – Introduction of VAT groups
- Polish Order. The Cashless Taxpayer for companies is the fastest VAT refund in the entire European Union
- SLIM VAT 3 pre-consultation extended until 23 February
- Poland Consulting on SLIM VAT 3 Package
- Excise goods such as LPG or lubricating oils, if exempted must be moved using electronic delivery documents
- Selling plots without VAT is still a problem
- Transport monitoring under SENT will cover waste and solvents
- The tax office blocks money (VAT refunds) because it is suspicions about other entities
- The car donation is subject to VAT, even if it is a donation in a close family
- SAF-T delivery date in Portugal will be changed again?
- Portugal Extends VAT Exemption for Goods Needed to Combat the Effects of COVID-19
- Procedure for calculating VAT for gratuitous transfer of construction in progress has been clarified
- New procedure to determine tax base for sale of electronic and household appliances, as well as motorcycles purchased from individuals
- VAT deduction on fuel and lubricants on the basis of a cash receipt
- Temporary tax-payment respite
- Tax exemption for industrial activities under energy tax law
- Position: Community associations’ supplies to members
- Contribution capital to economic associations that operate various types of facilities
- Sweden is evaluating options for digitalizing VAT-related processes
- Refund of VAT to companies based abroad
- E-commerce platforms will be involved in the collection of tax to be paid by non-Swiss based e-commerce sellers
- VAT Discount on Foodstuffs
- Turkey Expands 1% VAT Rate for Food Supplies
- Digital economy taxation in Turkey and the Gulf Cooperation Council (GCC)
- Turkey reduces VAT rate on foodstuff to 1%
- Should sole proprietors who are VAT payers, keep records?
- VAT taxation of transactions under a commodity loan agreement
- Ukraine Introduces VAT Exemption for Additional Supplies Related to Investment Gold
- New VAT rules for non-residents supplying electronic services to Ukrainian customers
- HMRC Policy paper: Revenue and Customs Brief 3 (2022): postponed VAT accounting and businesses registered under the Flat Rate Scheme
- HMRC Guidance: Fuels for use in vehicles (Excise Notice 75)
- HMRC Guidance: Use Alternative Dispute Resolution to settle a tax dispute
- Plastic Packaging Tax (General) Regulations 2022
- UK The Customs (Amendment) (EU Exit) Regulations 2022Customs (Amendment) (EU Exit) Regulations 2022
- HMRC Guidance: UK trade agreements with non-EU countries
- Making Tax Digital for VAT in 2022
- VAT and compensation – the next (and final?) chapter
- Will digital tax reporting increase HMRC’s use of CCO powers?
- UK importers reminded to use correct European country code on customs declarations
- HMRC internal manual: VAT Energy-Saving Materials and Grant-Funded Heating Supplies
- Should I Register for VAT?
- HMRC Notice VAT Notice 733: Flat Rate Scheme for small businesses
- HMRC Policy paper Revenue and Customs Brief 3 (2022): postponed VAT accounting and businesses registered under the Flat Rate Scheme
- When do points-based penalties apply?
- Dilapidations to remain VAT free
- UK Brexit goods valuation for customs and VAT
- HMRC guidance on VAT penalty reform timelines
- Guernsey 5% GST implementation faces opposition
- Early termination and compensation payments
- Use the New Computerised Transit System
- Research: Impact of Making Tax Digital for VAT
- Unusual accounting system denies VAT bad debt claim
- Fulfilment House Due Diligence Scheme registered businesses list
- British tax authorities seize NTFs for the first time in VAT fraud case
- Car Boot Pitches – VAT treatment of pitch income
- Deposit Recycling Scheme – VAT issue for scheme to encourage recycling
- What Export Evidence is needed to support VAT Zero Rating?
- Brexit and Returns of Goods
- Quick Tips: Registering for Value-Added Tax (VAT)
- UK Tax Authority Makes First NFT Seizure In VAT Fraud Case
- HMRC updates VAT policy on early termination charges and compensation payments
- HMRC finalises guidance on VAT treatment of compensation and termination payments
- HMRC Guidance: Interest rates for late and early payments
- Bad Debt VAT Claims – Correct Record Keeping Process
MIDDLE EAST
- GCC Indirect Tax Digest – 17 February 2022
- Digital economy taxation in Turkey and the Gulf Cooperation Council (GCC)
- FTA showcases key initiatives during ‘UAE Innovates 2022’
- Dubai Customs issues new policy on Client Registration for acquiring Customs code
- Abu Dhabi customs joins Tradelens to work with exporters, importers to explore Blockchain underpinned document flows
