Tax Compliance
Recent Developments: Complex Reporting Requirements in the European Union
Digital tax reporting requirements have arrived and are here to stay. As the global VAT gap continues to grow (estimated to be as high as
Category: Value Added Tax
E-archiving
“Trends” Report Excerpt: The Consequences of VAT Non-Compliance
The following is an excerpt from “Trends in Continuous Global VAT Compliance,” the 11th edition of the industry’s most comprehensive guide to e-invoicing, e-archiving and
Global Tax Determination
Incoterms 2020: A New Coat of Paint and Important Clarifications for a New Decade
The International Chamber of Commerce (ICC) has released the new 2020 version of the Incoterms. Incoterms are important business shorthand and understanding their express meaning
Tax Compliance
HMRC Overhauls its Business Risk Review (BRR) Regime
HMRC administers the whole of the tax system for the UK and Northern Ireland. Although there are some 5.7 million active businesses in the UK,
Tax Compliance
Mexican Tax Reform Introduces Anti-Abuse Rule
Mexico is introducing a tax reform to be enforced on 1 January 2020, implementing a general anti-abuse rule. Its aim is to increase governmental control
E-archiving
Long-awaited Indian E-invoicing Legislation Finally Published
For those following the ongoing tax control reform in India, 2019 has been a very eventful year for Indian e-invoicing. Starting last spring, a group
Tax Compliance
Norway to Mandate SAF-T Reporting from 2020
Mandatory SAF-T (Standard Audit File-Tax) reporting will be introduced in Norway from 1 January 2020. Use of SAF-T, a standardized XML format containing exported accounting
E-archiving
New Global VAT Compliance Report Provides Guidance for Multinationals
Companies are dealing with a fundamental shift in the way they do business with trading partners. In a rapidly increasing number of countries, there’s a
Tax Compliance
Poland’s Departure from the Traditional VAT Return
In Europe, Poland seems to be the first country to move away from the traditional VAT return replacing it with a detailed Standard Audit File
Tax Compliance
Hungary Expands Scope of Real-Time Reporting
Since July 2018, taxpayers in Hungary have been obliged to disclose the data of electronic invoices issued for transactions with accounted VAT exceeding HUF 100,000
Electronic Invoicing
Is Your Business Ready for Turkey’s Digital Tax Transformation?
The value of data is rising The value of data is becoming more precious than oil. Technology has transformed market dynamics across all sectors and
Tax Compliance
Revisiting the EU VAT “2020 Quick Fixes”
Part 4 – Call-Off Stock Arrangements This is the last in a series of four blogs providing explanatory detail to the EU’s “2020 Quick Fixes”
Tax Compliance
Italy to Introduce Pre-Completed VAT Returns by July 2020
The Italian government has introduced an ambitious new program for collecting VAT, under which the tax authorities will pre-populate VAT returns on behalf of taxpayers.
Tax Compliance
Revisiting the EU VAT “2020 Quick Fixes”
Part 3: Chain Transactions This is the third in a series of four blogs providing explanatory detail to the EU’s “2020 Quick Fixes” that aim
Tax Compliance
Revisiting the EU VAT “2020 Quick Fixes”
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
Electronic Invoicing
Central Asia’s Adoption of E-Invoicing Mandates Grows
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
Value Added Tax
Revisiting the EU VAT “2020 Quick Fixes”
Part 1: VAT Identification of the Customer We recently wrote about the EU’s latest report on the “VAT Gap” – the overall difference between the
Value Added Tax
VAT Gap: EU Countries Lost €137bn in VAT Revenues in 2017
In September, the European Commission released its latest study on the so-called ‘VAT Gap’. The VAT Gap is defined as the difference between the amount