Blog

Accurately calculating Insurance Premium Taxes (IPT) across Europe can be a challenge, especially when there are inconsistent methods of calculations and a vast array of taxes to understand. Our webinar ‘How to accurately calculate IPT liabilities’ sheds light on the challenges insurers face in ensuring accurate calculations, the various calculation methods different territories use for […]

Part 1: Main Aspects of the 2nd Modification of the Miscellaneous Fiscal Resolution for 2020 The Mexican Tax Administration (SAT) released the second modification of the Miscellaneous Fiscal Resolution for 2020 (RMF2020). This is the first of two blogs, where we address some of the main changes in compliance obligations for suppliers of digital services […]

Since 31 January 2020, the UK is officially no longer part of the EU but is considered a third country to the union although EU legislation will still apply to the country until the end of 2020. Although Northern Ireland is part of the UK, the region will remain under EU VAT legislation when it […]

The Spanish tax system is one of the most complex in Europe. If the tax system and surcharges are not fully understood it can be a real challenge for insurance companies writing business in Spain or for those that want to start their business in this country. Spain has different taxes and reports that must […]

With the 1 October go-live date for myDATA, the first Greek implementation of Continuous Transaction Controls (CTC), fast approaching, legal clarity around the broader tax reform should ideally be close to completion. Greece’s tax reform is expected to not only cover CTC reporting but also e-invoicing.  So far, however, we have only seen fragmented documentation […]

The Turkish government continues to minimize the effects of the COVID-19 pandemic on companies. A Presidential decree has extended the deadline for the Ban on Layoffs and Cash Wage Support from 17 July 2020 until 17 August 2020. This measure, which protects both employees and employers, is extended until 30 June 2021 and will be […]

Whilst M&A activity may have slowed down slightly, deals are still taking place and the future of many insurers could depend on a buy-out. Continued volatility in share prices could make a once expensive acquisition target more appealing than it once was. For sectors such as travel and events insurance, now could be the time […]

SAP recently announced the launch of an initiative that will plant one tree for every online purchase made on SAP Store and SAP App Center. This program is part of a larger project with a goal of planting 5 million trees by 2025. This is not the first initiative of its kind for SAP. The […]

The European Commission recently opened a public consultation on a carbon border adjustment mechanism (CBAM) to maximise the impact of tax in meeting the EU’s climate goals. A CBAM would reduce the risk of carbon leakage, which occurs when production is moved to countries with less robust climate policies, by ensuring that import prices better […]

As anticipated, further information has been published by the Portuguese tax authorities about the regulation of invoices. Last weeks’ news about the postponement of requirements established during the country’s mini e-invoice reform, and the withdrawal of a company’s obligation to communicate a set of information to the tax authority, culminated in the long-waited regulation about […]

With the fast pace of change happening on the global tax landscape, where tax authorities require more granular information with electronic tax submissions, it’s not surprising to see another country embarking on their digital journey. Portugal is now following in the footsteps of other nations by changing the way in which stamp duty is declared. […]

Issuing e-delivery and printed delivery notes together The article (Article 15.5), which was quite confusing in the initial version of the guideline, is now much clearer. If an e-delivery note can’t be issued in the location where the shipment is initiated e.g. the delivery truck, it may be issued within the company. However, a printed […]

Unprecedented times. It’s a phrase that’s been used so much of late but the pandemic is certainly not the first incident that has adversely affected society on a global scale. Before coronavirus, there had been a strong focus on environmental issues and initiatives. With an increase in extreme weather incidents over the last decade, governments […]

In February last year, the Portuguese government published the Law Decree 28/2019 rolling out changes affecting e-invoices. The goal of the Law Decree is to simplify and consolidate pieces of law that are scattered around the Portuguese legal framework. However, the effectiveness of many of those rules is still dependent on further regulation, such as […]

The United Kingdom’s HMRC has issued new guidance on the VAT treatment of cross-border sales of goods and online marketplaces beginning 1 January 2021, following the end of the transition period. Cross-Border Sales under £135 New rules will apply when a business sells goods for £135 or less to a UK customer and the goods […]

On 15 July 2020, the European Commission (EC) adopted a new Tax Package, intended to increase tax compliance while reducing administrative burden on businesses. The Tax Package contains a number of proposals related to VAT, of which three in particular stand out: A single EU VAT registration for taxpayers; Modernized VAT reporting obligations; and Facilitated […]

The October deadline is fast approaching for the Indian CTC invoicing mandate, but it remains a moving target. In a swift move that was published just two months prior to go-live, authorities have now changed the scope of India’s e-invoicing system and who is affected by the reform, as well as updated the JSON format. […]

A non-authorised insurer is the term used to describe an insurance company that isn’t licensed with a particular country to provide insurance. This can also be known as non-admitted insurance. The non-authorised insurer doesn’t have to comply with local laws and regulations, however, one consequence of not being authorised means it doesn’t get the same […]