India: GST Council approves proposal for new, simplified return filing
On 4 May 2018, The Goods and Services Tax (GST) Council accepted a new simplified return that would require a taxpayer to file only one return every month and set a period of six months for the transition to take place The Finance Secretary said
See MorePortugal: Extended the import VAT reverse charge relief to all goods from 1 March 2018
Portugal has extended the import VAT reverse charge relief to all goods from 1 March 2018. The system was introduced for a restricted list of goods, including cereals, wools and olive oil. It enables approved companies to postpone the cash payment
See MoreRussia introduces VAT on B2B foreign digital services from 2019
From 1 January 2019, Russia will introduce new value added tax (VAT) rules with respect to business-to-business (B2B) supplies of e-services provided to Russian customers. Russia introduced VAT liabilities on offshore providers of electronic
See MoreTurkey: Draft Law 3065 amends VAT law
The Finance Minister, Naci Ağbal, has stated that a draft law, number 3065, revised the value-added tax (VAT) law and then it has been sent to parliament. The objective of the new draft bill is to support investments, production activities and
See MoreTurkey: New digital VAT system update
The tax administration has brought some clarifications regarding the implementation of the new rules, via the VAT Communiqué no.17, published in the Official Gazette on January 31, 2018. This VAT Application Communiqué 17 had been published in
See MoreSlovak Republic: Government approves several tax amendments
The President has signed an amendment to Law No. 595/2003 Coll. on Income Tax on December 20, 2017. Some of the changes are given below: Related party transaction In accordance with the current amendment, the text of the related party definition
See MoreHungary: Live VAT Invoice Reporting Commencing from July 2018
The Live VAT invoice reporting will be starting from 1st July 2018 as reassured by Hungary in this week, the current domestic sales invoice fillings will be replaced by the new live reporting, however the domestic purchase invoice reporting
See MoreKazakhstan: Tax Law Reforms for the year 2018
The Kazakh President, signed a series of laws on 25 December 2017 regarding taxes and other mandatory payments, introduction of tax code, law on amendments to other Acts etc. Most provisions of the new tax code and the tax amendments effects from 1
See MoreItaly: Updated annual VAT declaration from 2018
Italy updated their annual VAT declaration process that will be effective from 2018. Italy changed the reporting frequency of VAT invoice listing submission from quarterly to bi-annually. There will also be various specific clarification on the
See MoreGreece: Intrastat thresholds for 2017 released
According to articles 7 and 10 of Regulation 638/2004, the Greek Statistical Authority has published a press release on 1st February 2017 on about Intrastat reporting thresholds applicable in 2017. On the basis of public announcement, the threshold
See MoreItaly-annual VAT return form published
The Italian tax authority published the new annual VAT return for the 2016 financial year on 16 January 2017. The form can be found along with the instructions on the ITA
See MoreIceland: Threshold increases for VAT registration
The Directorate of Internal Revenue issued a declaration on 9 January 2017 regarding VAT registration and invoice issuance. If the supply of goods and services is below ISK 2 million within a tax year duration, the business does not need to register
See MoreUkraine-Adopted amendments to Tax Code
The parliament of Ukraine adopted a draft law amending the Tax Code on 21 December 2016. According to the adopted law, costs for repairing and maintenance of non-productive fixed assets will no longer be considered as deductible expenses. Previously
See MoreIreland explains approach to VAT and portfolio management services
Following the European Court of Justice (ECJ) decision in the Deutsche Bank case concerning the value added tax (VAT) treatment of portfolio management services the Irish Revenue issued an eBrief on 4 September 2015 to explain its approach to the
See MoreECJ: decision on time of supply of services for VAT purposes
On 3 September 2015 the European Court of Justice (ECJ) issued a decision in the case of Asparuhovo Lake Investment Company. The case had been referred to the ECJ by the Administrativen sad in Bulgaria and concerned the time of the chargeable event
See MoreArgentina-Deadline for issuance of VAT electronic invoices and records
The tax administration of Argentina published General Resolution No. 3,793 in the Official Gazette on 10 August 2015. According to the resolution 31 March 2016 is the deadline for the electronic issuance and storage of VAT receipts by taxpayers
See MoreFrance: VAT Regime Modified
The French VAT authority has issued a number of decrees regarding modifications to the VAT regime. The modifications, effective on 1 January 2015, include: VAT rates The VAT rate on construction services provided in designated deprived areas has
See MoreBelgium: VAT office guideline on the issue of invoice before taxable supplies
The Belgium VAT office has issued a guidelines regarding VAT treatment for the issuance of invoices before providing taxable supply of goods and services. The existing rules which will be expired at the end of 2014 covering the Belgian advance
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