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Part 2: The Exemptions of Intra-Community Supplies of Goods This is the second in a series of four blogs providing explanatory detail to the EU’s “2020 Quick Fixes”. This article focuses on updated guidance around the Exemption of Intra-Community Supplies of Goods coming into effect on 1 January 2020. The EU Implementing Regulation contains a […]
It’s no longer controversial to say that real-time VAT control initiatives such as e-invoice clearance or real-time reporting are becoming increasingly popular with governments and tax authorities across the world. Such initiatives, commonly referred to under the umbrella term CTC, or Continuous Transaction Controls, are now largely considered to be the new normal as governments […]
Gemini, one of the world’s most trusted cryptocurrency exchanges and custodians, has selected Sovos, the largest private filer of 10-series tax forms, to automate Gemini’s 1099 forms and filings. Sovos will enable Gemini to eliminate potential errors and get automatic regulatory updates on the ever-changing cryptocurrency compliance landscape. The growing confusion related to crypto tax […]
What to Expect Next In Parts One and Two of this series on the VAT MOSS scheme for digital services we provided a background, considerations for applying and a recent update on the existing MOSS scheme. This recent update is the first stage that will pave the way for a smooth transition to the new VAT […]
An update and the effects of Brexit In the first part of this series on the VAT MOSS scheme for digital services we provided a background on this scheme and considerations for applying. In this second part we provide you with a recent update and describe how Brexit will affect the scheme. Our third and […]
Brazil is often viewed as one of the most complex tax jurisdictions in the world. But, at the same time, it has been very successful in automating tax authority controls, and in doing so has replaced paper invoices with electronic invoices automating their exchange through clearance platforms. While the ambitious Brazilian plans to simplify the […]
In our previous piece reflecting on the aftermath of the initial MTD deadlines for ‘First Stage filers’ we also noted that the first submission experiences of ‘Second Stage’ filers should hopefully run more smoothly. To recap, Second Stage filers are often referred to as ‘complex’ businesses, as HMRC have determined certain features to their operations […]
When thinking about the aim of GDPR, one of the first things that comes to mind is the set of rules, obligations, and restrictions on the processing of personal data. When in fact, as the full title of GDPR – General Data Protection Regulation – and its recitals explain, the subject matter and purpose of […]
The European Union has been fighting against VAT fraud for many years. The so-called ‘carrousel fraud’ is costing the EU approximately EUR 50 billion per year. This was illustrated once again in a recent Europe-wide investigation, called ‘Grand Theft Europe’, carried out by 63 journalists from 30 countries, co-ordinated by German news outlet Correctiv. The […]
As more and more countries across the world depend on VAT, GST or other indirect taxes as the single most significant source of public revenue, governments are increasingly asking themselves what technical means they can use to ensure that they maximize the collection of the taxes due under the new tax regimes. India is the […]