VATupdate.com Daily Newsletter: April 1 & 2, 2024

What happens today – World Party Day (P-Day): An annual global celebration that occurs on April 3, encouraging people to come together and enjoy festivities.

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Headlines March 30 & 31, 2024

• VATupdate Newsletter Week 13 2024
• Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in March 2024
• Future of eInvoicing: European Commission Webinar on 17 April 2024
• Saudi Arabia – ZATCA Criteria for Selecting Taxpayers in 10th Wave of E-Invoicing Integration Phase
• GCC – Navigating the tax landscape: The Impact of Transfer Pricing on Indirect Taxes

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• Follow the VATupdate.com Channel now on Whatsapp
• ecosio webinar – E-invoicing is becoming mandatory in Germany – What you need to know (April 11)
  
• Event: E-Invoicing Exchange Summit in Miami – April 22-24, 2024

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• VATupdate Newsletter Week 13 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 March 2024
  • E-Invoicing & E-Reporting developments in the news in week 12/2024
• ECJ
  • ECJ VAT Cases decided in 2024
  • Agenda of the ECJ VAT cases – 4 Judgments, 2 AG Opinions announced till April 25, 2024
  • 1002 ECJ VAT Cases are now available on www.vatupdate.com
  • This is what happened in the ECJ (VAT) in March 2024 – Clean-up time, 2 Orders, 2 Cases Removed
• VAT Rates
  • VATupdate.com: Noteworthy VAT Updates and Rate Changes in March 2024
  • Global Upcoming VAT Rate changes – Chronological

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BAHRAIN

• Bahrain VAT Guide: Extended Record Retention Period Update (Version 1.9)
• NBR Releases Updated VAT General Guide with Record Retention Extension Guidance

BANGLADESH

• NBR Considers VAT on Metro Tickets
• NBR Plans to Impose 15% VAT on Metrorail Tickets from July

BOSNIA AND HERZEGOVINA

• Amended Rulebook on Fiscal Receipts in the Republic of Srpska

CAMBODIA

• Cambodia Tax Authority Implements New VAT Law Regulations
• Cambodian Ministry of Economy and Finance issues tax incentives for education sector

CROATIA

• Tips for Fiscalization Obligation in Croatia

ECUADOR

• Ecuador VAT rise to 15% on April 1, 2024

EUROPEAN UNION

• Future of eInvoicing: European Commission Webinar on 17 April 2024
• The Controversy Surrounding the Concept of Fixed Establishment in VAT

FRANCE

• France Customs Circular 2024: Taxation of Energy Products Explained with New Regulations and Rates

GCC

• GCC Indirect Tax News Roundup – Quarter One 2024
• Navigating the tax landscape: The Impact of Transfer Pricing on Indirect Taxes

GERMANY/ WEBINARS / EVENTS

• ecosio webinar – E-invoicing is becoming mandatory in Germany – What you need to know (April 11)

GREECE

• myAADEapp: Revolutionizing Tax Services in Greece with Innovative Mobile Application

HUNGARY

• Hungarian Central Bank Reduces Base Rate
• Hungary: New VAT Filing Rules and Simplified Business Tax Repeal

INDIA

• GST Compliance Calendar for the month of April 2024
• GST registration cannot be cancelled with retrospective unless satisfied with sufficient reasons
• High Court allows refund of ITC reversed when Tax is paid by the Supplier

INDONESIA

• Government to Implement 12% VAT Increase in 2025
• Ministry of Finance Regulation No. 12/KM.4/2024 on Export Price Determination for Customs Calculation

IRELAND

• Ireland Revenue Guidance on VAT Treatment of DRS Deposits for Drink Containers

ISRAEL

• Supreme Court Rules Full VAT for Services to Foreign Residents in GFI Securities Case

ITALY

• Alignment of insurance tax assessment terms with VAT: implications for late declarations
• Possible Conditional VAT Exemption for Aesthetic Medicine

JAPAN

• Japan ‘deemed reseller’ for digital platforms April 2024
• Japan tightens Consumption Tax for non-residents

KENYA

• Kenya Clarifies VAT Prepopulated Return and Eligibility Criteria for Different eTIMS Software
• Kenya VAT Prepopulated Return Clarifications and eTIMS Software Eligibility Criteria

LITHUANIA

• Lithuanian Tax Inspectorate Issues Guidance on VAT Rates Effective Jan. 1

MALAYSIA

• Proposed Tax Changes in 2024 Bills: E-Invoicing and Labuan Business Activity Tax Amendments
• Why is Malaysia’s Integration with Global E-Invoicing Networks a Game Changer?

MALTA

• Guidelines for Applying 12% VAT Rate on Custody of Securities in Malta

NETHERLANDS

• No reduced VAT rate for open-air performances
• NV X’s VAT status in the Netherlands; VAT reverse charge intact

NEW ZEALAND

• New Zealand hits gig & sharing economies platforms with 15% GST April 2024

PAKISTAN

• FBR Issues Rs20bn Sales Tax Refund Claims to Exporters, Meeting IMF Requirements
• Massive Tax Evasion Uncovered in Pakistan’s Black Tea Imports: Customs Crackdown Ensues
• Pakistan Introduces “Tajir Dost (Special) Procedure, 2024” for Tax Payments by Traders and Shopkeepers

POLAND

• Poland to End 0% VAT Rate on Food Products as Inflation Eases

RUSSIA

• New Registries for Confirming Zero VAT Rate on Exports Applied from Q1 Report April 1, 2024

SAUDI ARABIA

• ZATCA Criteria for Selecting Taxpayers in 10th Wave of E-Invoicing Integration Phase

SWITZERLAND

• Switzerland Considering Increased Employment Contributions or VAT to Fund Additional Pension Payment
• Switzerland Plans to Ensure Funding for 13th AVS Pension by 2026

TAIWAN

• Late Issuance of Uniform Invoices by Businesses: Conditions for Penalty Exemption Explained
• Unified Invoice Requirement for Business Closure: Inventory and Asset Settlement

THAILAND

• Thailand Boosts Tourism with VAT Refund Program for Pattaya SMEs

TURKEY

• Unreflected Discounts in VAT

UKRAINE

• Changes in VAT payment codes for imported goods: Ministry of Finance order
• Deadline for submitting application for VAT registration under voluntary registration by taxpayer

UNITED ARAB EMIRATES

• FTA Updates VAT Guide for Tax Groups in United Arab Emirates (UAE)

UNITED KINGDOM

• Boost for Small Businesses: VAT Threshold Raised, Rates Frozen to Support Growth and Investment
• Isle of Man Treasury Raises VAT Registration, Deregistration Thresholds Effective April 1

UNITED STATES

• Arkansas Supreme Court Rules Sales Tax Owed on Vehicles Temporarily Used by Employees
• Louisiana Proposed Law: Sales Tax Rebate for Lithium Recovery Projects

UZBEKISTAN

• Uzbekistan Senate Approves Tax Breaks to Boost Jewelry and Sanatorium Sectors

WORLD

• VATupdate Newsletter Week 13 2024
• VATupdate.com Daily Newsletter: March 30 & 31, 2024
• Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in March 2024

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