Switzerland consults on VAT collection amendments for digital platforms
The Swiss Federal Taxation Administration (FTA) has initiated a public consultation on proposed amendments that would mandate digital platforms to collect VAT starting 1 January, 2025. Principles and objectives of the legislation In order to
See More
Chile revises VAT invoice and document rules
Chile’s tax authority issued Exempt Resolution No. 36, on 15 March, 2024, updating the requirements for various tax documents that value added tax (VAT) taxpayers must issue. These documents include credit notes, debit notes, dispatch guides,
See More
Luxembourg introduces draft law to change VAT for small enterprises
The Luxembourg Chamber of Deputies is reviewing Bill 8406, proposing amendments to the law of 12 February 1979 on value added tax (VAT), aligning with Council Directive (EU) 2020/285 of 18 February 2020, Council Directive (EU) 2022/542, and the
See More
Saudi Arabia unveils criteria for 13th phase of e-Invoicing integration
The Saudi Zakat, Tax, and Customs Authority (ZATCA) has announced its criteria for the 13th wave of integrating the country's new e-Invoicing requirement into its Fatoora system. The 13th wave includes all taxpayers whose revenues subject to VAT
See More
Romania proposes amended prefilled VAT return format, content
Romania’s government published a draft bill on 27 June, 2024, detailing revisions to the layout and content of the prefilled VAT return. The prefilled e-VAT return follows the government’s Emergency Ordinance No. 70/2024, which was published
See More
Cyprus extends 0% VAT on essential products
The Cyprus Tax Department announced an additional extension of the temporary 0% VAT rate on essential products, including meats and vegetables, until 30 September 2024. The zero VAT rate on essential goods includes all types of bread (whether
See More
Vietnam extends 2% VAT reduction on specific goods and services until end of 2024
The Vietnamese government issued Decree No. 72/2024/ND-CP on 30 June 2024, which mandates an additional reduction in the VAT rate from 10% to 8% for various goods and services in the second half of 2024. Effective from 1 July 2024, the government
See More
Iceland amends VAT Act for cross-border services
Iceland's parliament has amended the Value Added Tax (VAT) Act 50/1988 to align the sale of services to non-resident businesses with the OECD VAT Guidelines and the EU VAT Directive. The new legislation clarifies that, in most cases, the VAT will
See More
Poland initiates public consultation on VAT Law changes for small businesses
Poland’s Ministry of Finance announced the introduction of a draft bill concerning a proposed amendment to the VAT Law under the Amending Directive to the VAT Directive (2020/285) on 25 June, 2024. The draft legislation is up for public
See More
Germany: Federal Cabinet approves draft law to reform VAT
Germany’s Annual Tax Act 2024, which was published on 5 June 2024, includes proposals for reforming the VAT system in Germany. The legislative process is slated to be completed by this year. Relevant time for input tax deduction A new
See More
Saudi Arabia extends cancellation of fines and exemption of financial penalties initiative
The Saudi Zakat, Tax and Customs Authority (ZATCA) announced the extension of the Cancellation of Fines and Exemption of Financial Penalties Initiative for taxpayers subject to all tax laws for six months until 31 December, 2024. ZATCA stated
See More
Italy updates VAT penalties
Italy has published Legislative Decree no. 87/2024 in the Official Gazette on 28 June 2024, introducing major amendments related to Italy’s tax penalty system. The Decree went into force the day of its publication and will be applied to
See More
Finland issues guidance for increased VAT starting September 2024
Finland’s tax authority has released guidance clarifying the increase in the standard VAT rate from 24% to 25.5% on 17 July, 2024. The VAT hike has received parliamentary approval and is currently awaiting final confirmation. The revised rates
See More
Spain extends VAT cuts on essential food products
Spain’s Ministry of Finance announced in a release on Tuesday, 25 June 2024, that the Spanish Council of Ministers approved a Royal Decree-Law which extends the VAT rate reduction for basic food Items. The reduced rates were initially set to
See More
Romania expands e-invoicing to B2C transactions
Romania’s Ministry of Finance has released Urgent Ordinance 69/2024 on 21 June, 2024, which expands the country's electronic invoicing (e-invoicing) mandate to business-to-consumer (B2C) transactions. Starting 1 July, 2024, all B2C transactions
See More
Belarus introduces VAT exemptions for imported technical equipment and parts
Belarus has issued Resolution No. 408 dated June 5, 2024 in the Official Gazette, which introduces VAT exemptions for the import of specific technical equipment, spare parts, and related components. This follows after Belarus published
See More
Ethiopia revises VAT exemptions
Ethiopia's Ministry of Finance has released Directive No. 1006/2024, which alters VAT exemptions across the country. Effective from 20 June, 2024, all goods and services previously exempt through various ministry directives or decisions will now
See More
Vietnam introduces draft law to implement VAT on small value e-commerce imports
On 17 June 2024, Vietnam's Minister of Finance, Ho Duc Phoc, presented the amended draft Law on Value Added Tax (VAT) to the National Assembly. The proposed law introduces VAT on small-value imports from e-commerce platforms such as Shopee and
See More