Ukraine-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
See MoreBelgium: Advance invoice rules on VAT will be effective from 2015
The VAT advance invoice rules has been issued by the Belgium tax authorities this week and published as Administrative decision ET. 126.003 of 7 October 2014. This regime will be replaced by the existing guidelines and will be effective from 1
See MoreMalta: No requirement of Mini One Stop Shop (MOSS) Invoices
Malta will not be required to provide VAT invoices in accordance with the normal VAT invoice disclosure requirements of the EU VAT Directive which is applicable to the providers of digital services to consumers. The digital services will
See MoreRussia: Simplification in VAT invoice
Businesses those are VAT registered in Russia will no need to deliver consumers along with full VAT receipts from 1st October 2014. The VAT invoices in Russia must be delivered within 5 days of the provision of the service or goods. This change will
See MoreCroatia: New tax measurement has been announced by government
The government has declared new tax measure on VAT, personal allowance, Employment earnings and others in order to enhance the economic activity, on 4 September 2014. VAT: According to the declaration, VAT will be applicable on invoice payment
See MoreSlovak Republic – Amendments in VAT procedure under consideration
Draft amendments to the Slovak value added tax (VAT) law would give the following procedural changes: When claims are filed during the course of a tax examination, with the revised rules to allow a partial repayment based on already audited
See MoreBelgium: Value added Tax At-a-glance
The Value Added Tax (VAT) is named in Belgium “Belasting over de Toegevoegde Waarde” (BTW) or “Taxe sur la Valeur Ajoutée” (TVA) and it has been introduced since first January 1971. Value added Tax At-a-glance: Rates: Exemptions 0
See MoreVietnam – VAT export and invoice changes
Some changes have been made to Vietnam’s VAT regime in respect of VAT invoices and the VAT on exports. The aim of the changes is to require adequate documentation to be maintained in respect of the transaction, including proof of export. There
See MoreTurkish electronic VAT invoices delayed until April 2014
The introduction of Turkish electronic VAT invoices has been delayed until 1 April 2014 due to continuing teething problems. Until this date, tax registered persons may continue to use paper-based VAT invoices. The original edict (Tax Procedural
See MoreBelgium enforces electronic VAT return
The tax office of Belgium has confirmed that it is to require all taxable persons to file electronic VAT filings over the next year. Corporations will have to submit their monthly or quarterly VAT returns through the online portal of the Ministry
See MoreVietnam – Tax forms and VAT methods
According to Decree No. 156/2013/TT-BTC, in effect from 1 January 2014, new tax forms are to be used by organizations and entities in Vietnam. Enterprises are to pay trade union dues at a rate of 2% of total salary amounts used to compute social
See MoreSpain – VAT changes effective in 2014
Spain’s value added tax law Changes which made by Law 14/2013, Royal Decree 828/2013, Order 2214/2013, Royal Decree 1042/2013, and Law 22/2013—generally were effective beginning 1 January 2014. In general, the principle change concerns a new VAT
See MoreSpain: drops requirement to submit records with VAT returns
The VAT authorities of Spain have decided to withdraw a requirement to submit supporting VAT records with monthly VAT returns. The requirement was originally introduced in 2009. According to this requirement all Spanish VAT registered businesses
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