Inventions
Somebody invented VAT. It must have been a brave and ingenious individual to devise a system where taxes are collected almost imperceptibly from ‘the common people,’ simply by adding a few extra percentage points to the prices of goods and services. Undoubtedly, the introduction of such a system likely incurred resentment and displeasure once its implications became known.
Consider the risks faced by other innovators in history. Henry Winstanley, for instance, constructed a monumental lighthouse off the coast of England in the 17th century, only to perish when it was swept away during a ferocious storm. Thomas Andrews, the mastermind behind the design of the RMS Titanic, met his fate aboard the ill-fated vessel. Similarly, William Bullock’s groundbreaking advancements in printing press technology were overshadowed by the tragic accident that claimed his life.
The latter was making adjustments with his foot to a press being installed at a newspaper’s offices. His leg became tangled in a moving belt and was crushed. A few days later, he developed gangrene and underwent amputation of his leg. Things got worse from there: He died from surgical complications.
These anecdotes underscore several truths: that greatness often demands risk-taking, that the occupation of developing tax systems, like VAT, is comparably less perilous than others, and that even seemingly mundane professions like editing can entail unexpected dangers.
Inventing VAT was a bold leap, akin to navigating uncharted waters; like inventors, VAT specialists brave risks, but instead of ships or machines, they engineer systems shaping economies.
Despite the inherent risks, the team at VATupdate perseveres unwaveringly, ensuring that you stay informed with the latest VAT news on our website. In a world fraught with uncertainty, our commitment to providing essential information remains steadfast.
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
- USTR publishes further guidance on impacted China-origin products subject to additional Section 301 tariffs
- Real-Time Compliance Review Newsletter – May ’24
- Join Our VAT Discussion Forum on WhatsApp – Explore, Learn, and Connect!
- Standardizing International Taxation: The OECD’s Approach to Digital Services Taxes
- E-Invoicing & E-Reporting developments in the news in week 21/2024
- SAP ERP systems: Evolving from on-premises models to the next-gen systems!
- SAP S/4 HANA vs SAP ECC: The major differences between them!
- Basics of E-invoicing
- Why Agile Strategies Are Crucial for Business Process Digitization: Don’t Wait for Legislation
- Real-Time Indirect Tax Compliance: Future Trends and Strategic Insights
- E-Invoicing Evolution: Insights and Implementation Timelines Worldwide
- Webinar ecosio – E-invoicing in Malaysia (May 23)
- ecosio Webinar: Peppol for Dummies – Understanding the Basics (May 29)
- IBFD Training: Advanced Professional Certificate in International VAT/GST – Starting October 1,…
- ecosio Webinar – Partner Opportunities: E-invoicing (June 6, 2024)
AFRICA
- Kenya’s New VAT on Electric Vehicles Sparks Controversy and Concerns
- Kenya High Court: Tax Laws Do Not Impose Additional Customs Duties on Oil Product Gains
- Proposed Amendment to VAT Act: Removing 24-Month Limit for Refund Applications
- Kenya Adopts OECD Global Tax Reforms, Withdraws 1.5% Digital Services Tax by 2025
- Proposed Elimination of Manufacturers’ Deduction for Input Tax on Official Aid Funded Projects
- Finance Bill 2024: Eliminating Excess Input Tax Refunds for Manufacturers in Official Aid Projects
- Proposed Removal of 90/10 Rule for Input Tax Deduction in Finance Bill 2024
- Finance Bill 2024: Proposal to Increase VAT Registration Threshold to KES 8m Effective July 1
- Proposed Amendment to VAT Act: Time of Supply for Exported Goods Clarified
- Eliminating Offset: Proposed Changes to Withholding VAT Credits in Finance Bill 2024
- Kenya Aviation Sector Warns Against Proposed VAT Exemptions Removal in 2024 Finance Bill
- Kenya publishes updated Electronic Tax Invoice Regulations 2024
- South Africa Tax Agency Clarifies VAT Treatment for Short-Term Insurance Supplies
- South Africa Tax Agency Clarifies VAT on Dwellings for Exempt Supplies
- South Africa Tax Agency Clarifies Credit Note Requirements for Prepaid Voucher Deductions
- South Africa Amends VAT Regulations for Precious Metals
- South Africa Updates VAT Regulations for Precious Metals
- South Africa VAT on digital services non-residents – reverse charge
- Big e-commerce VAT change in South Africa on the cards
AMERICAS
- Ecuador Reduces VAT on Tourism Services for Three-Day Holiday Period
- Ecuadorian President Cuts VAT Rate for Tourism to Boost Economy
- Alabama Sales Tax Exemption for Hearing Instruments: Effective October 1, 2024
- Maryland Increases Sales and Tobacco Taxes on Cigarettes and Electronic Smoking Devices
- Maryland Mandates Electronic Filing for Sales and Use Tax Returns Starting 2027
- Maryland Extends Sales Tax Exemption for Aircraft Parts and Equipment
- Michigan Department of Treasury Updates Industrial Processing Sales Tax Exemption Guidance
- Maryland Nonprofit Sales Exempt from Sales and Use Tax for Memorial Maintenance
- Navigating Sales and Use Tax Challenges for Service-Based Businesses
- Tennessee Sales Tax: Reduced Rate on Food in Select Cities and Towns Guidance Issued
- Alabama State Sales Tax Exemption for Honey Bees Implemented from October 2024
- Louisiana Sales Tax Exemption for Additional Prescription Drugs
- Revised Chicago Soft Drink Tax Publication by Illinois Department of Revenue
- Tennessee Sales Tax Refund for Morgan County Tornado Victims: Guidance and Eligibility…
- Louisiana Clarifies Tax Requirements for Peer-To-Peer Vehicle Sharing Platforms
- Minnesota Sales and Use Tax Guide for Hotels and Lodging Establishments Updated
- Understanding Texas Sales Tax on Real Property Services
- SST Simplifies Compliance for Digital Sellers: Addressing Challenges in Sales Tax Determination
- Maryland Mandates Electronic Filing for Sales Tax Returns
- How the Section 232 Tariffs on Steel and Aluminum Harmed the Economy
- Navigating Sales Tax Registration Process for US and Foreign Businesses
- Understanding Sales Tax on Services in Arkansas
- Streamlined Sales Tax Board Adopts Registration Best Practice, Fails Nexus Threshold Proposal
- Illinois Leads in Marijuana Tax Revenue, Raking in $70M in Final Quarter of 2023
- Sales Tax Inflation Crisis: Impact on Families, Cities, and Economic Disparities
- Texas Sales Tax Holiday: Save on Water-Efficient and Energy Star Products, May 25-27, 2024
- Tennessee DOR Notice: Local Sales Tax Rate Changes on Food and Ingredients, Effective October 1
- Tennessee Sales Tax Exemption for Food: House Bill 2641 Impact on Municipalities
- Controversy over Tax Exemption for Golf Course Membership Dues in Senate Vote
- Understanding the Pink Tax: Impacts on Sales Tax and Pricing Strategies
- Alabama Sales Tax Exemption Requirement for Health Care Providers: Obtain Certificate Before Purchase
- South Carolina Sales Tax Exemption for Feminine Hygiene Products Effective Immediately
- Sales Tax Holidays 2024: What’s in Store for Consumers and Retailers?
- Navigating Sales Tax Nexus: A Comprehensive Guide for Businesses in the US
- South Carolina Exempts Feminine Hygiene Products
ASIA-PACIFIC
- NBR to Expand VAT at Source System, Targets Tk5,000cr Revenue Boost in FY25
- Bangladesh Plans to Lower Duties on Laptop Imports to Boost Software Industry
- India’s GST revenue has touch a new high; can it be sustained?
- Five Indian States Embrace Aadhaar Technology for GST Registration
- India Considers Exempting Foreign Airlines’ Head Office Services from GST
- India mulls GST relief for foreign airlines; fitment committee to review
- Major rejig of Customs duty, GST being planned
- Service Tax on Legal Services by Advocates: Karnataka High Court Decision on Reverse Charge Basis
- Government Plans to Address Inverted Duty Structure in Customs and GST for Competitiveness Boost
- Ice Cream Industry Awaits Potential GST Rate Cut Post-Election
- GST council unlikely to reverse 28% tax on online gaming
- GST officers working on registration mechanism for ‘shared warehouse’ for e-commerce suppliers
- Weekly GST Communique dated May 20, 2024
- FBR Proposes Extensive Overhaul: Expanding 18% Sales Tax to Various Sectors
- Pakistan’s New Regulations Exempt Employees from Registering with Sindh Revenue Board for Sales Tax.
- Pakistan’s Strategic Shift: Introducing a Carbon Tax on Petroleum Products and Unified VAT Regime
- Singapore Revenue Authority Mandates GST InvoiceNow for Businesses Starting April 2026
- Singapore Revenue Authority announces GST InvoiceNow requirement
- Tax Treatment for Goods Sold on Installment Basis and Repurchased for Resale: Guidelines by Tax Bureau
- Businesses must include sales tax in prices and issue invoices proactively, warns Taipei National Tax Bureau.
- Electronic invoicing requirements for Uzbekistan tax authorities: timely submission and official validation.
- Uzbekistan’s Fiscal Policy Praised by IMF for Introduction of VAT
- Proposal to continue reducing VAT by 2% until 31/12/2024 for economic recovery and development.
- Over VND 460 Billion Refunded in VAT for 5,400 Foreigners Exiting HCM City
- Vietnam’s Ministry of Finance Proposes VAT Rate Reduction and Extended Tax Deadlines in 2024
EUROPE
- ECJ C-234/24 (Brose Prievidza) – Questions – VAT Refund when goods remain in the supplier’s Member…
- Flashback on ECJ cases C-2/95 (SDC) – Exemptions based on service nature, not supplier or recipient
- New Czech ECJ VAT Case C-276/24: Konreo
- 1013 ECJ VAT Cases are now available on www.VATupdate.com
- New Polish ECJ VAT case: Genzyński Case C-278/24
- New Hungarian ECJ VAT case: Granulines Invest Case C-270/24
- New Polish ECJ VAT Case C-277/24: Adjak
- New Romanian ECJ VAT Case C-261/24: Alizeu Eolian
- ECJ C-232/24 (Kosmiro) – Questions – VAT implications factoring
- ECJ Ruling on Hungarian VAT Rules for Slovak Energy Company Sparks Controversy
- Seven Arrested in €13 Million VAT Fraud Probe in Belgium and Netherlands
- Eurofisc’s Success: Uncovering €14.6 Billion in VAT Fraud in the EU in 2023
- CBAM Information Session by European Commission
- EU member states fail to reach agreement on VAT in the Digital Age proposal
- Unlocking the EU VAT Deductibility Frontier: Towards a Full OSS Single VAT Return
- EU VAT Reforms: Digital Age Changes and Implications for Businesses
- Estonian Ministry of Finance Blocks EU ViDA Reform Agreement, Impact on Digital Economy
- What’s Happening Next with VAT in the Digital Age (ViDA)
- Reflections on the EU VAT Reform for Platforms
- Austria’s Proposal to Raise VAT Registration Threshold to €42,000
- Court Upholds Partial Tax Deduction for Property Renovation in Landmark Ruling
- Austrian Court Rules Against Tax Office in Internet Trade Case from Isle of Man
- New declaration for sales with 6% VAT must be submitted no later than June 30, 2024!
- VAT Deduction according to Actual Use – New tolerances published
- E-Invoicing in Belgium
- Restriction of Partial VAT Liability Scope for Large Enterprises – Reporting Deadline Extension for 2024
- New declaration for selling property with 6% VAT must be submitted by June 30, 2024!
- Online Applications Required for Reduced VAT on Private Dwellings from 27 May, 2024
- Cyprus: Online Submission Required for Reduced VAT Rate on Private Dwelling Construction
- Important Update on Cyprus VAT Rates
- Update on submission of declarations for the reduced VAT rate of 5% on residences
- Cyprus VAT Law as amended
- Reverse Charge Regime: Fighting Tax Evasion and Carousel Fraud
- Extensive Revisions to Czech VAT Law: Important Updates for 2025
- Supreme Administrative Court ruling on VAT deduction from future payments for goods and services.
- Proposed Changes to VAT Law in Czech Republic for 2025: Key Amendments Summarized
- Finland’s Proposed VAT and Taxation Law Amendments for 2025
- Finland Proposes VAT Law Changes to Align with EU Directive on Small Business Exemption
- Understanding and Choosing the Right VAT Regime for Your Business in France
- Reduced VAT rate of 5.5% for equestrian establishments
- Decision XI B 73/23: Double taxation, no unified service, third-party services not VAT-exempt
- Tax classification of online event services and other online service offerings – BMF
- Explore the Latest in German E-Invoicing: Mandatory
- VAT exemption for alternative investment fund management
- Introduction letter on VAT exemption for Alternative Investment Fund management by BMF Berlin
- Late-filed VAT prepayment and timing allocation under § 11 Abs. 2 EStG – FG Cologne ruling.
- Annual Tax Act 2024: Changes to VAT exemption for educational services
- German Federal Fiscal Court Decision on Chain Transactions and “Broken” Transport
- Complexity of Uniform Complex Services: Case Study of a Dinner Show and Tax Implications
- German Ministry of Finance Releases Draft Proposal for Annual Tax Act 2024: Key Updates and Amendments
- VAT Implications for CFDs under Greek Tax Law: Recent Administrative Guidance
- European Prosecution: Arrests in Belgium for VAT fraud and seizures in Italy for tax evasion and money laundering
- Greek Tax Agency Issues Circular on Revised VAT Return Filing Instructions
- Administrative Coding of VAT Code Circular 2036/2024 by AADE
- Greek Tax Administration: VAT applies to cryptocurrency sales
- Recent Developments in Greek Digital Tax Environment: E-books, Invoicing, and Delivery Notes Implementation
- Greece Stands Firm on Excluding Food Services from VAT Reduction
- Greece Stands Firm on VAT for Food Services to Combat Tax Evasion
- Update of Selected Operational Procedures Manual for Special Consumption Taxes and VAT
- Minister refuses VAT reduction, food industry pushes back for competitive advantage in global market.
- Hatzidakis: “No” to VAT reduction – Battle against tax evasion will determine policy changes
- Pre-2008 excesses not transferable to group VAT, even post-litigation credit regeneration.
- VAT Deduction 2023 Still Possible: When and How with Attention
- Italy Revenue Agency: Group VAT Settlement Clarification and Recovery Method for 2004 VAT Credit
- Changes in VAT procedures as advance on credit recovery: new rules for insolvency cases.
- Restrictions on pre-2008 VAT group credits clarified by recent tax ruling
- Group VAT liquidation – prohibition of attributing previous VAT credit in pending disputes resolution.
- VAT Refund for Expenses on Others’ Property: Landmark Decision by Supreme Court on May 22, 2024
- Strict rules for VAT credit refund after submitting VAT return 2024
- Group VAT: prohibition of attribution of previous VAT credit clarified by Revenue Agency on May 21, 2024.
- Restructured pre-2008 tax credits not transferable to group VAT: Revenue Agency clarifies position
- Excluding VAT fraud does not require complex checks: recent legal principles clarified.
- Supporting ESG initiatives: Introduction to the Retrofit and the Smart & Sustainable…
- Deadline for VAT MOSS Returns and Corrections Announced
- VAT Ruling on Reduced Rate for Stairlifts
- Appeal Court Arnhem-Leeuwarden Decision: Tax Evasion Penalty for Leading Company in VAT Non-Payment
- Cultural sector mobilizes against potential VAT increase on cultural goods and services
- Fine for intentional reduction of VAT rate by actual leader upheld by Court of Appeal
- Court ruling: Reduced VAT rate not applicable to stairlifts
- Transfer of a Business as a Going Concern: Case Analysis and Legal Implications
- Amsterdam Court of Appeal Decision on Tax Rate for Unlicensed Medicines – Neutrality Principle upheld
- Amsterdam Court of Appeal Decision on Customs Duties and Interest on Arrears
- Knowledge group position: fall training by physiotherapist not exempt from VAT
- No zero-rate on exportation of horse
- Teachers and Lecturers as VAT Taxpayers: Exemptions and General Interpretation by Minister of Finance
- Lower VAT not for holiday homes. Issue persists with dormitories
- Interpretation of the right to deduct VAT on property modernization expenses for cultural center.
- VAT Exemption for Conservation and Restoration Services of Cultural Heritage and Art Works
- Selling a Car Bought from Leasing without VAT
- Phased implementation of the KSeF is almost certain
- Importance of Official Acknowledgment of Receipt in KSeF – Is it Essential?
- When is the taxpayer entitled to a VAT refund – rules, deadlines and procedures.
- Lower VAT not for holiday cottages. Issue persists with dormitories
- Delay in Implementing KSeF for Large Companies: Government’s Response and Support Measures
- Invoice for consumer in JPK_VAT file
- University lecturer pays VAT if they are a taxpayer – explained by the Minister of Finance.
- The New Logical Structures of Polish JPK_KR_PD and JPK_ST_KR Published
- Implementation of KSeF in stages almost certain, with changes to VAT law postponed to 2026.
- Local Burials Exempt from VAT: Legal Ruling on Municipal Funeral Services by Gazeta Prawna
- What’s next for KSeF? Companies await new regulations with uncertainty and caution.
- Reduced VAT Rate for Tanning Services Explained by Tax Authority
- Structured e-invoices – Q&A
- MoF Confirms VAT Exemption for Gratuitous Option Agreements
- Ministry of Finance Backs Proposal Against VAT Rate Increase to Prevent Inflation
- FNS of Russia prepares registry forms for 0% VAT confirmation on services and works
- Swiss VAT Partial Revision 2025: Changes in Emissions Trading and Platform Taxation
- VAT and Real Estate: Dismantling Costs and Input Tax Deduction Explained
- VAT Implications of Online Platforms: Case Law and Administrative Practice
- Turkiye increases delay interest and legal interest rates
- Extension of Deadline for Payment of 2024/March Period Social Security Premium Debts with VAT Offset by 24/5/2024
- Changes to E-Ledger Submission Requirements
- Ukrainian Exporters Losing Millions: VAT Blocking by State Tax Service Causes Financial Strain
- Taxation of Insurance Payments: VAT Exemption Clarified by Odessa Tax Office
- Re-submission of VAT data table for disputed decision: Procedure and Timeframe for Review
- Can VAT payer submit documents for blocked VAT invoices upon registration cancellation?
- Tax Treatment of Insurance Payments: VAT Exemption and Legal Framework in Ukraine
- Accessing Account Details in Electronic Tax Administration System in Odessa Region
- Registration of Public Organizations as VAT Payers for Free Goods Distribution: Clarifications
- Tax obligations on VAT for sublease of state or municipal land: DPS Odessa guidelines.
- Grounds for Cancellation of VAT Registration by Odessa Tax Office
- The е-ТТN Project in Ukraine 2024: What to Know and What to Be Ready For?
- Documents Required for Consideration of Excluding VAT Payer from Risk List Review.
- Change of VAT payer location: where to submit Data Table to tax authority?
- Documents Required for VAT Registration Application Form No. 1-PDV Submission in Odessa Region.
- Recognition nuances of VAT on unlocked invoices: reminders from the tax authorities
- Understanding the Upcoming SAF-T UA Requirements for Taxpayers in Ukraine
- Hotel La Tour Case: VAT Recovery on Share Sale Costs – Court of Appeal judgment
- Kent Couriers Ltd v HMRC: Excise Duty Dispute Appeal Decision
- Court of Appeal has reservations over VAT claim by hotel chain
- Court of Appeal Rules Against Hotel La Tour in VAT Recovery Case for Share Sale
- Comparing Tax Rates on Different Flavours of Nesquik Drinks
- Powar v Revenue and Customs: VAT Penalties and Personal Liability Notice Appeal
- UK Court of Appeal ruling on VAT recoverability in fund-raising transactions
- Understanding the VAT Reverse Charge Rules for Builders in the Construction Industry
- Hotel La Tour loses £68,000 VAT battle in Court of Appeal ruling
- Understanding VAT Recovery for Schools: The Capital Goods Scheme Explained
- UT Decision: Errors on Bill of Discharge Not Always Result in Customs Debt
- Important Update: Changes to HMRC’s EORI Number Guide for VAT Deregistered Businesses
- Tax Implications of Football Agents’ Fees: Employer Duties and VAT Considerations
MIDDLE EAST
- E-Invoicing in the UAE
- What are the steps and requirements for new VAT registration in the UAE?
- FTA Clarifies VAT Treatment of Director’s Function Performance by Natural Person in UAE
