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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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Retail Sales Tax postponed by Poland
Poland has postponed the implementation date of the new ‘Retail Sales Tax’ following the challenges of the European Commission (EC). This initiative comprised of a turnover tax levied on established and non-established businesses in Poland. The turnover rate of each company determined the applicable rates, but businesses with a turnover...
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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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America’s MTC sales tax amnesty
If European businesses wish to take advantage of America’s Multi-State Tax (MTC) sales tax amnesty, they have until 21st October to decide. America’s MTC sales tax amnesty started on 17th August. This sales tax is the U.S. equivalent of VAT – the funds which must be remitted to the correct...
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e-Commerce Sales Tax
The administration for Sales Tax on goods sold by out-of-state e-Commerce sellers will shortly be revisited said the US Treasury. Currently, sellers with no physical location in another State are not required to charge the Sales Tax of the State when the consumer is resident there. The consumer instead is...
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VAT changes in the United Kingdom
UK postpones tax technology plans George Osborne, the previous Chancellor of the Exchequer announced last year “the death of the tax return”. A new plan named “Making Tax Digital’ and was aimed at automating all UK tax reporting by 2020. All transactions would require to be recorded and reported digitally...
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