Colombia: National Tax Authority updates reporting requirements for 2025
Colombia’s National Tax Authority (DIAN) has updated rules for submitting certain tax information starting with the 2025 tax year. The changes, detailed in Resolution 000188 of 30 October 2024, expand the list of taxpayers required to report
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Saudi Arabia: ZATCA clarifies VAT audit process
Saudi Arabian Zakat, Tax and Customs Authority (ZATCA) has introduced new guidelines to clarify VAT audit procedures and ensure better compliance with tax regulations. The guidelines provide businesses with clear steps for audits, corrections,
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Estonia: Parliament passes VAT Act amendments, introduces EU small business scheme
The Estonian Parliament (Riigikogu) passed Bill No. 462 SE, on 13 November 2024,amending the VAT Act which introduces the legislation to implement the EU small business scheme for cross-border supplies, as outlined in Council Directive (EU) 2020/285
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Italy ends VAT exemption on staff secondment
Italy published Law No. 166 of 14 November 2024 in the Official Gazette which stipulates that the loan or secondment of staff is not considered a taxable supply for VAT purposes if the recipient solely reimburses the salary and associated
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EU issues new guidance on VAT for small businesses
European Commission, on 11 November 2024, released the Guide to the SME scheme and explanatory notes for the updated Small Enterprise Scheme (SME scheme), which will take effect on 1 January 2025. This guide aims to provide a better understanding
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Finland proposes revised TV tax, VAT on broadcasting services
Finland’s government has submitted a legislative proposal (HE 186/2024) to the parliament on 7 November 2024 to amend the television tax levied on individuals and businesses and the VAT applied to public broadcasting services. The draft
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Greece unveils tax reform plans for 2025
Greece's Ministry of National Economy and Finance has announced new legislation for tax reform measures for 2025 on 5 November 2024. The bill, entitled "Measures to enhance income, tax incentives for innovation and business transformations and
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Philippines: Senate approves VAT refunds for tourists
The Philippines Senate has approved Senate Bill No. 2415 or An Act Creating a Vat Refund Mechanism for Non-Resident Tourists, on 23 September 2024, which permits nonresident tourists to apply for refunds on value-added tax (VAT). The Senate
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Croatia rules formation of new company to retain of VAT exemption for small businesses exploitative
The Court of Justice of the European Union (CJEU) ruled in case C-171/23 (UP CAFFE) on 4 October 2024. As per the ruling, forming a new company to retain the VAT exemption for small enterprises after the previous company conducted the same
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Israel announces 2025 state budget, increases VAT rate
Israel’s government passed the budget for 2025 on 1 November 2024. The 2025 budget includes various tax hikes, such as an increase in the standard VAT rate from 17% to 18% and spending cuts on most ministries. The Israeli Cabinet cited that tax
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Turkey updates VAT implementation Communiqué
The Ministry of Treasury and Finance has released Communiqué No. 52 on Value Added Tax (VAT) on Thursday, 31 October 2024, which includes updates to the VAT General Implementation Communiqué. These amendments address multiple facets of VAT
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Saudi Arabia reveals criteria for 17th phase of e-invoicing
The Saudi Zakat, Tax, and Customs Authority (ZATCA) has announced updated compliance criteria for the 17th group of businesses required to join the e-invoicing system as part of their broader effort to digitalise the tax system and increase VAT
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Cyprus announces temporary 0% VAT rate on essential items
The Cyprus Council of Ministers passed Decree No. 349/2024 on 31 October 2024. The Decree amends the VAT law to introduce a temporary zero VAT rate on certain essential items. The zero VAT rate will apply to basic essentials such as baby and
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Italy passes decree on VAT scheme for small businesses
Italy’s Council of Ministers has passed the Legislative Decree implementing the Amending Directive to the VAT Directive (2020/285) and the Amending Directive To The VAT Directive (2022/542) on 29 October 2024. The Council approved the
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Czech Republic passes bill on VAT scheme for small enterprises
Czech Republic’s lower chamber of parliament has passed the bill amending the VAT Law on 30 October 2024, aiming to incorporate the Amending Directive to the VAT Directive (2020/285) concerning the special scheme for small enterprises, among other
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Hungary to mandate e-invoicing for energy sector starting January 2025
Effective 1 January 2025, electronic invoicing (e-invoicing) will be compulsory in Hungary for electricity and natural gas suppliers, including traders, distributors, and transmission system operators supplying electricity and natural gas to
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Dominican Republic unveils rules for enforcing mandatory e-invoicing
The Directorate General of Internal Revenue (DGII) of the Dominican Republic has released Notice 20-24 regarding the promulgation of Decree 587-24, which introduces new regulations for implementing Law 32-23, known as the Electronic Invoicing
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Slovak Republic gazettes bill amending corporate tax and VAT, and bill introducing financial transaction tax
The Slovak Republic has gazetted the bill that amends various tax laws, including corporate tax and VAT rate changes, and the bill enacting the financial transaction tax. The bills are aimed at improving the country’s public finances. The
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