Tax rate down in Malta’s 2015 Budget
Recent budget of Malta for next year contains a reduction of personal income tax (PIT) brackets, through a rate down on income between €19,500 and €60,000 from 29% to 25%. Those who purchasing their first property they can get tax concession and
See MoreBelgium: new government agrees on VAT compliance updates
The new government of Belgium has agreed on changes of VAT compliance issues. The changes are: 6% of the reduced VAT rate will be applicable on the expenditure for improvements to homes of at least 10 years old. Previously it was 5 years old to
See MoreBelgium: Confirmation to increase VAT registration threshold from 2015
The tax authorities of Belgium confirm its plan to increase VAT registration threshold from 2015. The companies having taxable supplies above €25,000 will need to be registered for VAT from 2015. Previous limit on the 6% VAT rate for renovation
See MoreFinland: E-service on VAT special launched
Registration of VAT special scheme starts from 1 October 2014. Companies can submit the information through an e-service. Companies selling telecommunications, radio and television broadcasting and electronic services to consumers in the EU must
See MoreRegister for and use the VAT Mini One Stop Shop
If your business has supplied digital services to consumers in the EU, you can register for HM Revenue and Customs’ (HMRC’s) VAT MOSS scheme if your business is: based in the UK (union VAT MOSS scheme) a non-EU businesses (non-union VAT MOSS
See MoreChina increases VAT registration threshold from October 2015
China is to raise the VAT and Business Tax threshold from Yuan 20,000 to Yuan 30,000 from first October 2015. The declaration was made by the State Council, and will be confirmed by the State Administration of Taxation. The threshold is the annual
See MoreLithuania: Simplified VAT registration from September 2014
Lithuania has plans to cut the amount of application forms to be filled out for VAT registrations. The new procedure has reduced the application process from three forms to a single application, an FR 0388. In addition, companies may apply for a VAT
See MoreCzech Republic: Domestic VAT transactions filing from 2016
To file a new return describing all taxable transactions with other Czech registered businesses will be required for Czech VAT registered businesses from January 1, 2016. The Czech proposals contain requirements to reveal the following
See MoreLithuania: modified VAT registration rules
The Ministry of Finance amended the Rules on Registration to the VAT Register/Deregistration from the VAT Register by way of Order No. VA-47 on 30 June 2014, under the amendments, the VAT registration form was simplified. The new registration form
See MoreCroatia: Order to Non-resident transporters to register for VAT
After joining the EU countries Croatia requires for VAT registration to the foreign passengers foe carrying fare-paying within the country. Croatia force to foreign passengers’ transporters to register for VAT and must apply for a VAT number. VAT
See MoreBelgium reduces VAT on Electricity
Recent VAT changes in Belgium include the latest change in VAT rate for supplies of electricity. The rate will change from 21% to 6% and will take effect from1 April 2014 until 31 December 2015 with an option to extend the rate into 2016 and
See MoreBelgium requires foreign public transporters to register for VAT
Belgium is to require foreign public transport companies to register for VAT, and charge a proportion of Belgian VAT on the price of their tickets. From 1 January, non-Belgian coach and taxi drivers transporting paying passengers across Belgium
See MoreNamibia: Budget for 2014/15
The 2014-15 Budget was presented by the Minister of Finance on 19 February 2014, and includes the following measures: Corporate taxation: The non-mining corporate income tax rate will be reduced from 33% to 32%. VAT: The VAT registration
See MoreItaly: VAT registration threshold has been raised for SME
Governing body of the member states’ VAT system, the EU VAT Directive has offered the scope for countries to increase the threshold of VAT registration for resident companies to up to Euro 100,000. This offers the opportunity for countries to
See MoreSlovenia: Raises VAT Registration Threshold
Generally EU member states follow the compulsory VAT registration thresholds set in the EU VAT Directives. The EU permitted Slovenia to raise its compulsory VAT registration threshold from €25,000 to €50,000 per annum, so businesses with taxable
See MoreUK: VAT registration threshold drops for foreign businesses
Following a recent European Court of Justice Case, Schmez C 97/09, the Value Added Tax registration threshold for foreign businesses has been forced to be withdrawn by the UK. The change will be effective from the end of 2012. According to this
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