Blog

Understanding Insurance Premium Tax Prepayments in Italy

Continuing our IPT prepayment series, we take a look at Italy’s requirements. In previous articles we have looked at Belgium, Austria, and Hungary. All insurers authorised to write business under the Italian regime have a legal obligation to make an advance annual payment for the following year. What is the prepayment rate in Italy? The […]

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Virtual Events and the Risk of Double Taxation

When organising a virtual event, it’s important to determine how this supply will be treated for VAT purposes. We have previously discussed VAT rules and place of supply for virtual events, this blog will discuss the potential future changes to the VAT position for EU Member States. Current VAT position for virtual events in Europe […]

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Brazil Introduces National Standard for the Service e-Invoice

Brazil is known for its highly complex continuous transaction controls (CTC) e-invoicing system. As well as keeping up with daily legislative changes in its 26 states and the Federal District, the country has over 5,000 municipalities with different standards for e-invoicing. The tax levied on consumption of services (ISSQN – Imposto Sobre Serviços de Qualquer […]

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Supply of Digital Services Abroad: What to Consider

The expansion of the Value Added Tax (VAT) and Goods and Services Tax (GST) indirect tax to include business to consumer (B2C) sales of digital services is one of the most important new revenues for many countries. What are the electronically supplied services? E-services that a company supplies electronically can be: Supplies of images or […]

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Understanding IPT Prepayments in Hungary

It’s time to return to Insurance Premium Tax (IPT) prepayments – a continuation of our blog series on this important IPT topic. You can find the first entry in our blog series here. IPT is declared and settled differently throughout Europe. Monthly, quarterly, or biannual declarations – the frequency varies across Member States – and some […]

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Spanish Congress Approves Mandatory B2B e-Invoicing 

The Congress of Spain has approved the Law for the Creation and Growth of Companies, and it is expected to be published in the Official Gazette (BOE) in the following days. This Law also amends Law 56/2007 on Measures to Promote Information to adopt the mandatory electronic invoice issuance requirement for all entrepreneurs and professionals […]

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Switzerland Introduces QR Bill to Increase Automation of Payment Data

Switzerland along with other countries, such as Portugal and India, is endeavoring to support automation in financial processes without introducing structured invoice files. The method for automation in these cases has been through the introduction of mandatory QR codes on financial documents. The concept of a QR bill was already introduced in Switzerland in June […]

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Insurance Premium Tax Prepayments: Austria

In the next edition of our series of blogs in Insurance Premium Tax (IPT) prepayments, we look at a less familiar regime to many, the Austrian IPT Prepayment. IPT prepayments in Austria Those who are well versed in the IPT sphere will be perplexed at this blog, as they most likely will never have paid […]

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The Rise of E-Transport Documents and The Hungarian Approach: EKAER

Many countries have recently started their continuous transaction controls (CTC) journey by introducing mandatory e-invoicing or e-reporting systems. We see more of this trend in the European Union as the recent reports on the VAT in the Digital Age Initiative discuss that the best policy choice would be to introduce an EU-wide CTC e-invoicing system covering […]

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Meet the Expert – Mai Nguyen, Senior Compliance Services Representative

Meet the Expert is our series of blogs where we share more about the team behind our innovative software and insurance premium tax (IPT) compliance services. As a global organisation with indirect tax experts across all regions, our dedicated team are often the first to know about regulatory changes and developments in global tax regimes, to […]

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Poland Proposed Amendments to the KSeF Regulation

On 30 August 2022, the Ministry of Finance published draft legislation amending the Regulation on the use of the National e-Invoice System (KSeF). The purpose of the draft amendment is to adapt KSeF’s terms of use to the specific conditions that apply to the local government units and the VAT groups that will operate as […]

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Customer as Importer – EU VAT Compliance Implications

For the UK and other non-EU businesses it’s vital to determine the importer of the goods into the EU as this will impact the VAT treatment. For goods under €150 there are simplified options such as the Import One Stop Shop (IOSS) or special arrangements through the postal operator. However, when supplying goods over €150, […]

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Understanding IPT Prepayments in Belgium

It’s time to return to Insurance Premium Tax (IPT) prepayments – a continuation of our blog series on the important IPT topic. You can find the first entry in our blog series here. Throughout Europe’s different countries and jurisdictions, IPT is declared and settled in different ways. Monthly, quarterly, biannually – this varies across Member […]

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Colombia: Draft Law Proposes Expansion of E-invoicing Scope

The Colombian tax authority (DIAN) continues to invest in the expansion of its CTC (continuous transaction controls) system. The latest update proposes an expansion of the scope of documents covered by the e-invoicing mandate. In this article we’ll address the newly published Draft Resolution 000000 of 19-08-2022. This advances important changes for taxpayers covered by […]

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Upcoming Changes to UK’s Customs Systems

It seems such a short time since HMRC sent a reminder letter in March 2022 recalling the upcoming changes to the UK’s customs systems and explaining what to do to prepare for these changes. With the deadline rapidly approaching, here’s a brief recap. The Customs Handling of Import and Export Freight (CHIEF) system, which is […]

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Netherlands Storage and Own Transport IPT Changes Explained

The Dutch government issued an updated Policy Statement for Insurance Premium Tax (IPT) on 12 May 2022. The first of its kind since February 2017, the update is intended to replace the 2017 version in full. Whilst much of the content remained the same, there were some notable points relating to storage insurance and what […]

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Colombian E-invoicing: Latest Mandates

The Colombian tax authority (DIAN) has concentrated heavily on expanding its electronic invoicing regime over recent years. The DIAN introduced the first schedule for mandatory implementation of e-invoicing in the country in 2018, and, since then, the system has gradually encompassed more transactions and taxpayers. In this article, we’ll look at the two latest new […]

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Romania Extends SAF-T Filing Grace Period

On 1 August 2022, the Romanian National Agency for Fiscal Administration (ANAF) published a draft order extending the current grace period for Standard Audit File for Tax (SAF-T) declarations from six months to twelve months. The order will take effect upon approval and publication in the Official Gazette. At the time of writing, approval and […]

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