Value-Added Tax

Agencia Tributaria - Spain Tax Authority

Total Control: Three Ways Global Tax Administrations Are Cracking Down on VAT Liability (Part I: Spain)

March 21, 2017, 12:00 pm EDT in Blog, Value-Added Tax

In part I of this three-part blog series, we examine how Spain is implementing electronic invoicing to better control the VAT return process.Over the course of the last decade, there has been a huge shift in the way countries collect value-added tax (VAT). Tax revenue agencies are no longer waiting...

Spain Launches Real-Time Transactional E-Invoice Reporting Standards

Spain Launches Real-Time Transactional E-Invoice Reporting Standards

February 23, 2017, 12:00 pm EDT in Blog, Value-Added Tax

60,000 companies required to implement new e-invoice reporting standard. With recent reports highlighting European Union members’ struggle with uncollected VAT, countries are focusing on initiatives that will reduce fraud and increase tax revenues. Spain, in particular, is taking a page from Latin America’s electronic invoice registration playbook. On December 6, 2016,...

India GST, tax reform

India Now Expected to Move to a GST on July 1, 2017 – Businesses Must Get Ready

February 3, 2017, 2:34 pm EDT in Blog, Value-Added Tax

India has debated moving to a Goods and Service Tax (GST) for over 16 years. However, recent developments — many of which have been reported in this blog — strongly point toward the country adopting a GST in the next several months.Since the Government ratified the GST Constitution Amendment Act...

Breaking News: Movement to GST in India Likely to Take Place in July

January 19, 2017, 3:58 pm EDT in Blog, Value-Added Tax

India’s GST Council announced changes early this week that make movement to GST on July 1 likely, providing much needed clarity for business preparing for the change.The announced measures include the following:State authorities will assess 90% of the GST registrants with annual turnover of Rs 1.5 Crores or less. ...

VAT Updates - European Union tax news overview of December 2016

VAT Updates – European Union tax news overview of December 2016

January 11, 2017, 1:36 pm EDT in Blog, Value-Added Tax

Here is a summary of news and updates related to value-added-tax in the European Union during the month of December 2016.Consultations on VAT Reform On December 20, 2016, the European Commission opened public consultations on three aspects of its recently-introduced “Action Plan on VAT:”Business-to-Business (B2B) transactions involving goods Special schemes for small...

VAT country by country news summary for December 2016

VAT country by country news summary for November 2016

December 5, 2016, 4:13 pm EDT in Blog, Value-Added Tax

Welcome to our monthly summary of Value Added Tax news and insights curated and summarized by the Sovos Compliance Tax Research Team. Here is the country-by-country report for November 2016. European Council Adopts Conclusions on Cross-Border VAT Rules On November 8, 2016, the Council of the European Union officially adopted a set...

blog-vat-in-a-digital-age-event-wrap-up-saf-t-transparency-and-data-analysis-trends-in-vat-compliance blog image

VAT in a Digital Age Event Wrap-up: SAF-T, Transparency, and Data Analysis Trends in VAT Compliance

November 16, 2016, 4:11 pm EDT in Blog, Value-Added Tax

Thank you to all who attended our third “VAT Compliance in a Digital Age” event on November 3 at the beautiful Sofitel - Legend the Grand in Amsterdam. The standing-room-only gathering included an interactive discussion focused on the digital developments around SAF-T reporting.Our guest speaker, Daniel Kroesen from Ernst &...

VAT country by country news

VAT country by country news summary for October 2016

October 31, 2016, 1:00 am EDT in Blog, Value-Added Tax

Welcome to the Sovos Compliance monthly summary of Value Added Tax news and insights curated and summarized by our Tax Research Team. Here is the country-by-country summary for October 2016.Belgium: VAT on Feminine Hygiene Products On October 5, 2016, a bill was introduced in the Belgian Chamber of Representatives which,...

European Union news overview for October 2016

VAT Updates – European Union news overview for October 2016

October 28, 2016, 1:00 am EDT in Blog, Value-Added Tax

Here is a summary of news and updates related to value-added-tax in the European Union during the month of October 2016. Publication of Draft Improvements to Cross-Border VAT Rules On October 7, 2016, the European Council published a set of draft conclusions regarding potential improvements to current VAT rules on cross-border transactions....