Czech Republic: Ministry of Finance holds conference on countering tax evasion
The Finance Ministry held a conference on 18th November 2015 regarding tax evasion and measures taken to counter it. It was reported that because of intensifying the fight against tax evasion and avoidance, public revenues had increased. In
See MoreUK: Autumn Statement May Include Measures to Combat Tax Avoidance
On 25 November 2015 the UK Chancellor of the Exchequer is to announce fiscal measures for 2016/17 in the annual Autumn Statement. The proposals will be formulated against a backdrop of lower tax receipts and higher borrowing than expected, and the
See MoreUkraine: Electronic VAT administration begins from August 2015
The President of Ukraine signed the Law on Amendments to the Tax Code of Ukraine concerning improvement of the administration of value added tax 643-VIII on July 28, 2015. The new electronic system will enter into force on August 1, 2015. The
See MoreRussia: Convention on Mutual Administrative Assistance in Tax Matters enters into force
The Multilateral Convention on Mutual Administrative Assistance in Tax Matters has entered into force in regard to Russia on 1st July 2015. The Convention and the amending protocol apply to Russia from 1st January 2016. The agreement is intended
See MoreOECD releases discussion draft on mandatory disclosure rules
On 31 March 2015 the OECD released a discussion draft in respect of Action 12 of the action plan on base erosion and profit shifting (BEPS). Action 12 calls for disclosure initiatives to deal with the lack of relevant information for tax
See MoreCzech Republic: VAT amendments during 2015
The changes regarding value added tax (VAT) effective in the Czech Republic from 1st January 2015 are given below: The 10% reduced VAT rate will be applied to necessary baby nutrition, certain types of pharmaceuticals for human and veterinary
See MoreCzech Republic: Expanded theory of “unreliable VAT payers”
Recently the General Tax Directorate has released the category of "unreliable VAT payers" which was effective from 1 October 2014. It was extended to contain intentionally inaccessible VAT payers, VAT payers who fail to complete the deadlines
See MoreUkraine: Plans to crack down on the gray economy
The Government is fighting against tax evasion, highlighting a new policy of focusing efforts on the tax affairs of major companies and new policy to counter the gray economy, said Ukraine’s Deputy Minister of Revenue and Duties, Volodymyr
See MoreCzech Republic: Announcement of new anti-tax evasion force
The Ministry of Interior has declared the a new anti-tax evasion unit, naming "Cobra" regarding the sign of a protocol agreement on exchange information for customs, tax, and police chiefs and promised results by the end of the year. Finance
See MoreMalta improves late VAT payment regime
Malta’s VAT authority is to lessen fines on late VAT payers, and improve communications with taxable persons looking to bring their non-compliant affairs up-to-date. The daily penalty for late returns and payments of €15 will be scrapped. The
See MoreIreland: Anti-VAT fraud measures
To prevent fraud in Irish VAT compliance, the Irish government introduced a number of measures through its Finance Bill which came into effect from 1 January 2014. VAT registered businesses will have to refund to the Irish Revenue any deducted input
See MoreEU Steps Up Actions to Decelerate Custom Fraud
The European Commission expressed their intention to strengthen their effort to anti-fraud operations with the cooperation of the customs and tax authorities. As a part of its six-month European Union (EU) Presidency, Lithuania organized a Joint
See MoreVietnam: VAT regime is to be increased
The penalties for infringement of the Vietnamese VAT regime are to be increased. The new charges were published in Decree 129 which is summarized below: The changes include: • The new maximum fine for VAT reporting infringements is VND 200m. •
See MoreIreland introduces construction VAT relief
The Irish Ministry of Finance has published the Finance (No. 2) Bill 2013 giving force to measures announced in the 2014 Budget, and bringing forward the introduction of the value-added tax incentive for home renovations. VAT relief is being granted
See MoreEU: Countering “carousel” VAT fraud
The Council of the European Commission affirmed on 22 July 2013 that the appropriation of measures to empower EU Member States to address VAT fraud, with directive provisions that take into account fast response and in addition a particular measure
See MoreVAT Amnesty Launched in UK
UK is continuing its concentrated efforts to solve the issue of tax evasion. In this regard, UK is launching a new campaign focusing on those trading above the current value-added tax threshold, but who have not registered themselves for the
See More