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The EU Council issues its VAT priorities for 2018

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Date07 Feb 2018
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The Presidency of the Council of the EU, which is held in Bulgaria for the first half of 2018, has issued its priorities for indirect tax. These comprise of: Implementing the Norwegian agreement on administrative co-operation on VAT; Approving a long-term minimum standard VAT rate for all Member States; Settlement on the four simplifications for...
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There will be tax cuts, not tax hikes for Germany’s new coalition government

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Date02 Feb 2018
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Germany’s three political parties set to form the next governing coalition have agreed to decrease the solidarity tax burden, according to the text of the recently released agreement. This solidarity tax is a 5.5% surtax on both corporate and individual income which is used to fund economic development in the east of Germany. The three...
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Belgium adopts the ECJ’s position on unfinished invoices

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Date01 Feb 2018
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Belgium has implemented the recent ECJ jurisprudence regarding the right to subtract VAT on invoices with missing details. On the 12th October, 2017 the authorities published a circular letter 2017/c/64 summarising their clarification of recent ECJ decisions concerning the conditions under which a taxable person may exercise their right to subtract VAT in cases of...
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Luxembourg collects unpaid taxes from recent tax amnesty

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Date31 Jan 2018
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Luxembourg has collected over EUR30mln (approx. $36.7mln) in unpaid taxes in 2016 as a result of a tax amnesty scheme, Finance Minister Mr Pierre Gramegna has told parliament. Reacting to a parliamentary question, Mr Gramegna exposed that 221 applications were filed under the amnesty scheme in 2016, with a further 68 submitted between the months...
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Spain announced 4% transfer tax on P2P internet sales

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Date30 Jan 2018
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Spain has prolonged its ‘Impuesto de Transmisiones Partrimoniales’ (ITP) transfer tax to the sale by consumers of second-hand goods on the internet. If consumers are not VAT registered, then the 4% withholding tax relates. amavat® provides a one-stop-shop solution for VAT Compliance within Europe. We assist clients with a single point of contact that speaks...
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Hungarian ‘live VAT invoice reporting’ will commence July 2018

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Date30 Jan 2018
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Hungary advised recently that ‘live VAT invoice reporting’ will proceed from the 1st July, 2018. The requirements relate to VAT invoices above HUF100,000.00. The timing of reporting has been tightened up since the last update, and the choice to report within 24 hours of the issuance of any invoice has been removed. Submissions should therefore...
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Norwegian SAF-T delayed to 2020

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Date29 Jan 2018
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Norway will introduce an on-demand compulsory Standard Audit File for Tax (SAF-T) requirement for taxpayers from the 1st January, 2020. The introduction of the electronic tax transaction data reporting had been planned for 2018. SAF-T has been a voluntary arrangement for providing the Norwegian tax authorities with information of tax transactions since 2017. Norwegian SAF-T...
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Romania has implemented limited VAT ‘Split Payments’ from March 2018

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Date26 Jan 2018
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Romania has applied a limited VAT ‘Split Payments’ regime from the 1st March, 2018 in an attempt to reduce VAT losses and fraud. From the 1st January, 2018, Romanian taxpayers who are in financial difficulties are required to create VAT bank accounts to securely receive VAT receipts and onwards remittance to the tax authorities. Below...
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UK Tax News

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Date26 Jan 2018
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HMRC urged to temper new VAT penalties for online retailers ‘ The Chartered Institute of Taxation (CIOT) is calling for amendments to a new government scheme to tackle VAT evasion to safeguard those that make administrative errors, but are not accused of involvement in tax evasion, are not penalised with heavy fines. Businesses that store...
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