Value-Added Tax

VAT Transitional Systems in the EU

Total Control: Three Ways Global Tax Administrations Are Cracking Down on VAT Liability (Part III: Transitional Systems in the European Union)

April 27, 2017, 3:00 am EDT in Blog, Value-Added Tax

In this conclusion to our three-part series on how tax authorities in VAT jurisdictions are using e-invoicing to control the VAT return process, we’ll look at some of the transitional systems E.U. governments are leveraging prior to or in lieu of mandating ex-post remittance/validation or ex-ante/real-time invoice validation.Governments are reporting...

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

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

April 18, 2017, 3:00 pm EDT in Blog, Value-Added Tax

In this article, we turn our focus to the second and most widely used system - ex-ante and real-time invoice validation.In our previous blog, we began discussing how certain tax administrations are implementing new processes to ensure VAT compliance. These tax authorities, of course, want the money they are owed...

VAT country by country news summary for December 2016

VAT country news summary for February 2017

March 30, 2017, 2:00 am EDT in Blog, Value-Added Tax

Bulgaria, Lithuania, Latvia and the VAT Gap On February 22, 2017 the European Commission published its annual reports on the economic and social situation in Member States, the European Semester Winter Package. The country reports for Bulgaria, Lithuania and Latvia all took note of VAT gaps well over the European average....

VAT Updates - European Union tax news overview of December 2016

VAT Update – European Union tax news summary of February 2017

March 29, 2017, 2:00 am EDT in Blog, Value-Added Tax

Recent VAT Decisions The Court of Justice of the European Union (CJEU) has recently published two decisions related to VAT:In Case C-592/15 (British Film Institute), published February 15, 2017, the CJEU held that Member States have discretion to determine the scope of an exemption for “certain cultural services and goods closely...

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...