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Italy Provides Clarification on Communication of Data on Invoices

The Italian Tax Authorities issued Resolution No. 87/E on July 5, 2017, confirming that a taxable person may amend a previously filed communication even after the 15th day following the day on which the deadline expires. The communication must include sales invoices issued and purchase invoices recorded in the VAT ledger during the period of […]

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Czech Republic Publishes Guidance on Changes to Filing Instructions for the VAT Control Statement

The Financial Administration of the Czech Republic recently published amended filing instructions for the “Kontrolní hlášení”, or the “Check Report” form, which is a required filing for all taxable persons under the Czech VAT Act. Among the changes to the instructions is, first, a new requirement for contract companies (partnership-structured entities) to now file by individual partner instead […]

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Amendment to Treatment of Vouchers Before Dutch Parliament

Earlier this month, bill number 34755, which would modify the treatment of vouchers under the Dutch VAT Act, was introduced to the Dutch Parliament. The proposed law would differentiate between single use vouchers, defined as vouchers where the place of supply and amount of VAT on the supply are known at the time of the voucher’s issuance, […]

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Hungary Releases Additional Information of Invoice Reporting

Hungary has continued to release additional information about its upcoming invoice reporting requirements. Starting on July 1, 2018 VAT registered persons will be required to report B2B invoices of over 100,000 HUF to the government. The National Tax and Customs Authority (NAV) launched the KOBAK program at the beginning of July 2017. Registered persons can use […]

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Denmark Clarifies Positions on VAT Exemptions

The Danish Customs and Tax Administration (SKAT) has announced a limitation on the VAT exemption for supplies of blood plasma. Previously, the SKAT had allowed for exemptions on all deliveries of the human blood plasma. Going forward this exemption will no longer apply to supplies of plasma to companies intending to use the plasma in […]

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Romania Modifies Rules on VAT Refunds

Getting a VAT refund has become simpler for suppliers registered in Romania under the MOSS scheme. In the past, taxable persons established outside the EU who supplied electronic services in Romania were required to appoint a tax representative. But on July 13th, the Fiscal Administration (ANAF) released a press release announcing that in accordance with […]

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Spain SII Requirements Expanded – New Mandates Begin January 1

Businesses in two of Spain’s autonomous communities – Basque Country and Navarra – will soon be subject to Spain’s Immediate Supply of Information on VAT (SII) mandate. On July 1, 2017, Spain launched SII, requiring companies operating in the country to electronically submit ledger and invoice details. With the extension into two of Spain’s autonomous […]

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Sovos Wins Product of the Year Awards at The American Business Awards

Global tax compliance and reporting software leader recognized with two Stevie Awards in Global Risk & Compliance and FinTech Categories    Wilmington, Mass. – July 26, 2017 – Global tax compliance and reporting software leader Sovos announced today it has been honored with two Product of the Year awards at the The 15th Annual American Business Awards, a […]

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Beyond the E-Invoicing Compliance Debate: The Extension of Real Time Controls for Other Documents

Since e-invoicing became a legal possibility – first in the EU in 2001, then LATAM in 2002, and subsequently worldwide – there have been commentators warning the business community not to overlook the fact that e-invoicing is part of a broader interlocking transaction of documents and processes. Often followed by wise lessons about procure-to-pay or […]

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SII Reporting to be Adopted in the Basque Region

Organizations operating in the Basque region of Spain will soon be required to comply with SII reporting requirements. As reported in this forum, effective July 1 most companies operating in Spain are now required to transmit information to the Spanish Tax Administration (AEAT) regarding purchase and sale transactions within a few days of invoicing. Today, […]

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unclaimed property reporting services
A Standards-Based Approach for Global Compliance with Real-Time Tax Controls

I follow global tax compliance across continents closely and what can be seen is a clear trend of Tax Administrations (TAs) introducing increased technology-based real-time tax controls. Such controls include e-invoice clearance, e-ledgers and e-accounting, among others. Unfortunately, I’ve seen many real-life cases in different countries where the TAs issue a regulation that may make […]

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Back to Basics: What is ‘Compliance’, Anyway?

Four years ago, we moderated an interesting debate via LinkedIn that revolved around a simple question: what do we mean by compliance? As ever, we had an opinion and offered a detailed definition that kick-started a great discussion thread. We would like to believe that that discussion contributed to heightened awareness among e-invoicing practitioners that […]

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The New Strategic Role of Indirect Tax Professionals to Master Compliance

Tax compliance has evolved at a rapid pace in recent years. As governments go digital, loopholes are closing and reporting timelines are shrinking from weeks to milliseconds. The old way of doing things isn’t enough for the new world of rapid-response compliance. But these new challenges can also foster new opportunities. Businesses are taking a […]

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OECD Secretary General Issues Report on CRS for G20 Leaders

At last week’s G20 summit, OECD Secretary General Angel Gurría reported to world leaders that the past year has seen progress on multiple fronts in the fight against tax avoidance and evasion – thanks in large part to the Convention on Mutual Administrative Assistance in Tax Matters. The official report explores the key areas of progress, including the movement […]

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Belgium Delays CRS Reporting Deadline for 2017

Belgium recently announced it will extend the deadline for CRS reporting this year.  Reporting was originally due at the end of June, but Belgium has delayed reporting until the end of July.  This delay is only for CRS and does not affect FATCA reporting which was due at the end of June.  The announcement of […]

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Jammu and Kashmir Enacts GST

The state of Jammu and Kashmir has joined the rest of India by enacting the GST, a week after it was introduced to the rest of the country. Amidst strong opposition, the government of Jammu and Kashmir passed the Jammu and Kashmir Goods and Services Tax Act on July 7th.  The Act, and related orders, can be […]

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British Virgin Islands Extends CRS Reporting Due Date

The British Virgin Island’s Ministry of Finance recently announced an extension for reporting under the Common Reporting Standard (CRS).  CRS reporting had previously been due July 31, but a in a June 28 press release, the Ministry announced the due date will be August 18 for reporting 2016 information.  CDOT information, now reported as part […]

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ECJ Case Provides Guidance on Zero-Rated Services relating to the Exporting and Importing of Goods

The European Court of Justice has ruled, in Case C-288/16, that an exemption for services “directly connected” with exportation or importation of goods applies only if those services are supplied directly to the importer/exporter or to the consignee of the goods. The holding turned on the definition of the phrase “direct connection” within Article 146(1)(e) […]

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