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Northern Ireland Protocol: ‘Windsor Framework’ Developments Update: 28 March 2023 by Russell Hughes UK Government reaches agreement with EU on new Brexit Deal The UK government has agreed with the EU on major changes to the Northern Ireland protocol, referred to as the ‘Windsor Framework’. The protocol is the part of the Brexit deal which […]

Companies have begun to transfer financial processes to the digital environment as a result of technological developments in recent years. Business efficiency has increased through the financial processes regulated via e-transformation applications. The e-transformation system in Turkey covers applications such as e-invoice, e-ledger, e-arşiv, e-ticket, e-reconciliation, and e-delivery note. Mandate scope of e-arşiv invoice According […]

Many insurers still depend on legacy systems to file insurance premium tax (IPT). Whilst cost is sometimes the reason for this decision, some organisations simply don’t prioritise technology upgrades, instead, choosing to focus on initiatives that improve the customer experience or other business workflows. Can this situation continue? Unlikely for much longer, as more tax […]

We last reviewed the SAF-T global situation over a year ago, and in that time there have been many changes and proposals especially across the EU. Let’s look at what’s changed since then, as well as what to expect over the next year or two. A refresher What is SAF-T? The Standard Audit File for […]

Incentive law numbered 7252 was published in the Official Gazette for private sector employers on 28 July 2020. Thanks to this law, private sector employers who applied for short work allowance (SWA) and cash wage support before July 2020 and whose short-time working ended will be able to benefit from financial support. How to claim […]

Find out why it makes sense to invest in tech and automation to streamline tax processes and alleviate the burdens finance teams face. The shift towards digitisation necessitates a radical adaption and shift in existing tech for industries across the board. As this occurs, tensions and anxieties rise around automation and job losses. With Oxford […]

There are many different avenues an insurer can use to write insurance business. These include brokers, intermediaries and managing agents to name a few. When using a third party and looking at the rules around insurance premium tax (IPT) calculation and submission by each of the tax authorities, it can be difficult to know how […]

France is introducing continuous transaction controls (CTC). From 2023, France will implement a mandatory B2B e-invoicing clearance and e-reporting obligation. With these comprehensive requirements, alongside the B2G e-invoicing obligation that is already mandatory, the government aims to increase efficiency, cut costs, and fight fraud. Find out more. France shows a solid understanding of this complex […]

As we move full speed ahead towards the proposed deadline of 1 July 2021 for the new VAT e-commerce rules, EU countries are beginning to implement the changes to e-commerce transactions and distance sales into local legislation. While we track each Member State’s implementation, certain questions have been brought to the forefront and we can’t […]

Italy has been at the forefront when it comes to the introduction of continuous transaction controls (CTC) in the EU, and it still leads the way as other European countries look to Italy for inspiration on their local CTC implementations. But even before the introduction of its clearance e-invoicing system in 2018, the country had […]

Our Brexit and VAT series aims to offer the vital information and planning tips businesses operating cross border need. This week, we’re addressing fiscal representation in the EU. As the UK is now a third country from a VAT perspective, there are various urgent steps businesses must take. Post-Brexit Fiscal Representation in the EU Fiscal […]

Working with intermediaries in insurance is common practice. And using the knowledge and resources of an intermediary can deliver additional sales for an insurer without the need for internal resources. There are many benefits of working with a broker. Not only do they generate additional sales for the insurer, but they’ll also liaise with customers, […]

As expected, and previously announced by the Secretary of Finance in India, the Central Board of Indirect Taxes and Customs (CBIC) has now formally issued a Notification stating that India taxpayer scope has expanded with a turnover of 100 Cr. rupees or more from 1 January 2021. India taxpayer scope expanded On 30 July 2020, […]

As discussed in three key reasons to appoint a VAT managed service provider, the VAT compliance demands from tax authorities around the world continue to increase. They are only going to become more onerous to boost economic efficiency, combat fraud and reduce VAT gaps. The demands for more granular tax reporting are increasing for this […]

There are two types of no claims bonus. The first one is a refund of premium at the end of the policy. This happens when, for example, a discount is given if a policyholder doesn’t make a claim on that policy or makes a claim that is smaller than agreed in the policy documents. The […]

Businesses that trade cross border must turn their attention to the treatment of goods post-Brexit. Recently, we discussed postponed import VAT accounting in the UK. This week, we’re turning our attention to postponed import VAT accounting in the EU. Deferred and postponed accounting for VAT post-Brexit In theory, when goods enter the EU, import VAT […]

The new e-transformation regulations set by the Turkish Revenue Administration (TRA) have been implemented one after the other. The regulation regarding e-delivery notes, which must be issued before shipping any goods takes place, also came into force on 1 July 2020. Based on the new regulation, certain businesses have started using the e-delivery note application […]

On 30 September 2020, the European Commission published its “Explanatory Notes on VAT E-Commerce Rules,” to provide practical and informal guidance on the upcoming July 2021 e-commerce regulations. This “EU VAT e-commerce package” was initially adopted (under Directive 2017/2455 and Directive 2019/1995) and set to be implemented on 1 January 2021 but has since been […]