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Changes to Intrastat reporting system in Italy
by Anthony Kerr, getsix.eu, Wrocław, Poland 24 October 2017 Italy will implement changes to its Intrastat reporting system starting from 1st January, 2018. These simplifications were first scheduled for 2018, when a new quarterly VAT reporting regulation was introduced. Changes will include: The withdrawal of the quarterly acquisitions Intrastat, Monthly...
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France’s 2018 Budget – Reduced taxes and compulsory levies
by Anthony Kerr, getsix.eu, Wrocław, Poland 19 October 2017 In the 2018 Budget the French Government confirmed that taxes and compulsory levies will be reduced by around EUR10 billion (USD11.8 billion) next year. The Budget, released in draft format on 27th September, 2017, contains reductions in corporate tax, alterations to...
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VAT gap in the European Union
by Anthony Kerr, getsix.eu, Wrocław, Poland 17 October 2017 The EU recently announced the latest analysis of missing EU VAT (the ’VAT Gap’) from fraud, bankruptcies and poor administration, has fallen to €151.5 billion in 2015, comparing to €160 billion in 2014. The most recent estimation of unaccounted for VAT...
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The EU confront international tax challenges
by Anthony Kerr, getsix.eu, Wrocław, Poland 12 October 2017 On 16th September, 2017, in Tallinn, Estonia, the EU’s Economic and Financial Affairs Council (ECOFIN) met to discuss ways to confront international tax challenges posed by the digital economy. (Mr Toomas Toniste, Minister for Finance, Estonia) In early September, the Finance...
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Tax news and information from France
VAT fraud software 2018 From 1st January, 2018 France is recommending to enforce the requirement for French registered companies to use certified VAT software on B2C transactions. These proposals will include a requirement to use licensed and secure software and cash registers. Any violation of the obligations could result in...
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e-Commerce platforms could be liable for VAT fraud
The EU is continuing with suggestions to enforce obligations to online marketplaces for VAT fraud committed by non-EU merchants on their e-Commerce platforms. This move will endeavour to tackle over €5bn in non/under declared VAT by fraudsters, many originating from China. This measure was introduced by the UK in 2016...
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Switzerland Tax News
Switzerland reforms VAT for overseas firms The Swiss parliament has formally agreed reforms to the country’s value-added tax (VAT) regime, these will make overseas firms obligated to impose VAT on all purchases and services. The aim is to safeguard Swiss firms from lower-priced competitors abroad. At present, online purchases from...
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EU digital turnover tax – VAT in disguise?
The European Union (EU) finance minister recently reviewed a proposal to tax U.S. digital groups’ revenue based on the location of their consumers. Nonetheless, such a turnover tax may transgress EU VAT rules and international treaties. The giants of tech to be taxed This proposed ‘Equalisation Tax’ is aimed at...
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Portugal has a new VAT return form
There will be a new Portuguese VAT Return form, this will reflect the changes on import VAT reporting. Going forward, you can delay the payment of import VAT until your VAT Return is submitted. At this point you can reverse charge your import VAT amounts in the VAT Return, having...
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Poland – VAT split payments delayed until April 2018
The introduction of anti-VAT Split Payments has been delayed until 1st April, 2018 Poland has announced. The original date had been 1st January, 2018. To explain ‘Split Payments’, this is the payment of the VAT element of a sales invoice into a special, controlled VAT account of the seller. The...
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