Belgium increases quarterly VAT return threshold
The normal rule is that VAT returns are submitted on a monthly basis in Belgium. There is however a quarterly filing option for smaller businesses whose turnover is below a certain threshold. The annual turnover threshold for companies
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 rejects call to raise VAT to 23%
The Spanish Finance Minister has rejected a call by an influential tax committee to increase its standard value added tax (VAT) rate to 23% to help reduce the budget deficit. Spain has already undergone some of the steepest rises in VAT. The Spanish
See MorePoland: 2014 VAT Law
The 2014 Poland VAT Law, which came into effect on 1 January 2014, brings about major changes to the Polish VAT compliance regime. Key changes relate to the tax point in Poland, the VAT base and on intra community supplies within the EU. VAT will
See MorePoland: Amendments to input VAT deductions for automobiles
A draft modification to the rules for input value added tax (VAT) deduction for vehicles has been published, and is expected to be effective from March 2014. The proposed amendments will introduce limitations of the right to claim input VAT,
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 MoreSpain: Further VAT Rises Unlikely
The Finance Minister has confirmed that further VAT rises will not take place in the near future. The Advisory Committee for Tax Reform had suggested increases in the headline VAT rate from 10% and 21% to 13% and 23% respectively. External advice
See MoreIndonesia: VAT registration threshold increased
Indonesia has increased its VAT registration threshold from IDR 0.6bn to IDR 4.8bn per year in taxable turnover with effect from 1 January 2014. The stated goal is to reduce the VAT compliance burden for small and medium sized businesses. The
See MoreEgypt: Reconsidering a VAT system
Egypt is considering the introduction of a value added tax (VAT) system to replace the current sales tax. It is understood that this has been identified as a priority; the likely VAT rate will be around 10% with higher rates for such items as
See MoreEgypt: Introduction of VAT law
It has been reported that Egypt will introduce Value Added Tax to replace the existing General Sales Tax by the end of 2014. The new VAT will be a broad based tax, covering a much wider range of goods and services; the new provisions will also
See MoreCyprus: VAT rates increased
Cyprus has increased the standard value added tax rate from 18% to 19%, while the 8% reduced rate was increased to 9%, from 13 January 2014. The standard rate applies to 80% of goods and services, percent, while reduced rate applies to accommodation
See MorePolish 2014 VAT Law brings in widespread changes
On 13 January 2014 it has been reported that there has been a major overhaul of the Polish VAT compliance regime following the approval of the 2014 Polish VAT Act. The changes are aimed at bringing the Polish Value Added Tax regime more into
See MoreUkraine: Introduces a value-added tax exemption
In a statement on January 8, 2014, Ukrainian Prime Minister confirmed that he had ordered the preparation of draft legislation to amend the country's tax code to lower the cost of natural gas for consumers. The price for consumers will be reduced by
See MoreBelgium: Increase in resident VAT registration threshold
Belgium has proposed an increase in the resident EU VAT registration threshold. This will rise to EUR 15,000 from the current EUR €5,580 at a date in early 2014 to be confirmed. The European Commission to reduce the compliance paperwork and
See MoreHungary: VAT rules change
The European Court of Justice (ECJ) has ruled against current Hungarian rules on on the loss of the VAT exemption for exports. Under the present rules, exporters of goods from Hungary must ensure that goods leave Hungary within 90 days to qualify
See MorePortugal: Azores raises VAT
The Azores (a Portuguese independent region) has increased its standard Value Added Tax (Imposto sobre o Valor Acrescentado) rate from 16% to 18%, with effect from 1 January 2014. Further, the reduced VAT rate of 9% (IVA intermedio) on water, fuel,
See More