Brazil announces updates to e-invoicing prompted by tax reforms
Brazil’s government has submitted regulations to Congress regarding implementing a new dual value-added tax (VAT) system as part of its tax reform bill. Earlier, Brazil’s lower house of Congress, on 10 July 2024, passed legislation to
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Peru introduces new VAT rules for digital services, online purchases
The government of Peru has enacted Legislative Decree No. 1623, dated 2 August, 2024, to implement new rules for collecting Value Added Tax (IGV) on digital services provided by non-domiciled suppliers to Peruvian residents. This regulation targets
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Romania gazettes details of prefilled VAT returnsÂ
Romania’s government has issued Order no. 3775/2024, which approves the layout and content of the prefilled VAT return. The Order No. 3775/2024 was published in Official Gazette No. 726 on 24 July 2024. Earlier, the government published a
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Netherlands waives e-commerce fines until January 2025
The Netherlands State Secretary for Finance, Eelco Heinen, in Decree No. 2024-16101 of 16 July 2024, announced that administrative fines for VAT e-commerce defaults will be waived until 1 January 2025.  With the entry into force of the
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Tax Authority Approach to Business Fragmentation: Lessons from a Recent Russian Case
Traditionally, countries like Russia, Kazakhstan, and others in their vicinity have created highly advantageous conditions for small businesses by setting a substantially high ceiling for qualifying for reduced tax rates. For instance, in Russia, a
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Oman postpones mandatory B2B e-invoicing system to 2025
Oman's Tax Authorities announced the postponement of the mandatory B2B e-invoicing system to an unspecified date in 2025, citing technical challenges. Initially, the system was set to be introduced on a voluntary basis in April 2024, with
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Taiwan clarifies business tax on cross-border e-commerce purchases for personal use
Taiwan’s Ministry of Finance has released a notice explaining the levy of business tax on goods purchased for personal use through cross-border e-commerce. Recently, Kaohsiung Customs has received numerous inquiries from the public on why
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Poland initiates new consultations on e-invoicing
Poland’s finance minister Andrzej Domański on 12 July, 2024, announced that the Ministry of Finance and the National Revenue Administration are starting a new cycle of consultations on the National e-Invoicing System (KSeF). The meeting titled
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Venezuela extends VAT and customs duty exemption on imports of certain goodsÂ
Venezuela announced it published Decree No. 4.967 in the Official Gazette on 28 June, 2024. The Decree clarifies the extension of the temporary exemption from VAT and customs duty on the importation of specific goods. The exemption follows Decree
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Austria passes Tax Amendment Act 2024, introduces changes to VAT
Austria's Federal Council (Bundesrat) approved the Tax Amendment Act 2024 (AbgÄG 2024) on 11 July 2024, following its earlier approval by the National Council (lower house of parliament). The Act introduces several changes, particularly to Value
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Finland initiates consultation on VAT rate hike proposal
Finland's Ministry of Finance has initiated a public consultation on a proposed draft bill which suggests increasing the VAT rate on certain commodities from 10% to 14%. The consultation is set to conclude on 19 August, 2024. The draft bill
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Nigeria appoints crypto firm to collect VAT on transaction fees
KuCoin, a Seychelles-based cryptocurrency trading platform, announced on its official X account, on 3 July 2024, that it will impose a 7.5% value-added tax (VAT) on transaction fees for users in Nigeria, effective 8 July, 2024. KuCoin has
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Spain announces 2023 VAT refund deadline
Companies in Spain can claim value-added tax (VAT) refunds paid in other EU countries during 2023 until 30 September, 2024. This process can be completed through the Spanish tax authority’s website. Similarly, EU companies not established
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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
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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,
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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
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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 MoreRomania proposes amended prefilled VAT return format, contentÂ
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
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