Tax Compliance
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
Category: Value Added Tax
Tax Compliance
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
Value Added Tax
Italian Transfer Pricing Adjustments and VAT
In Italy, the discipline of transfer pricing states that in intra-group transactions between entities from different countries, where one is resident in Italy, transactions must
Value Added Tax
The Future of the One Stop Shop and Import One Stop Shop
It’s been just over 13 months since the introduction of the EU’s E-Commerce VAT Package in the guise of the One Stop Shop (OSS) and
Tax Compliance
Italian Import Documents Become Electronic
The Italian Customs Authorities recently updated their national import system by applying the new European Union Customs Data Model (EUCDM). These new changes came into
Tax Compliance
New EU Brexit Infringement Procedures
On 22 July, the EU Commission opened four new infringement proceedings against the United Kingdom for allegedly breaching the 2021 Northern Ireland Protocol on conditions
Electronic Invoicing
Philippines’ CTC E-Invoice Reporting System is Officially Live
The Philippines continuous transaction controls (CTC) Electronic Invoicing/Receipting System (EIS) has been officially kicked off for the 100 large taxpayers selected by the government to
Value Added Tax
Practical Considerations for EORI Numbers
The EU and the UK use the Economic Operators Registration and Identification System (EORI) to identify traders. What is an EORI number? Businesses and people
Value Added Tax
What is Indirect Representation, and How Does it Affect UK Businesses?
According to European Customs Law, non-EU established businesses must appoint a representative for customs purposes when importing goods into the EU. In particular, the Union
Value Added Tax
VAT on Non-Fungible Tokens (NFTs)
The recent popularity of non-fungible tokens (NFTs) has captivated investors, governments and tax authorities. An NFT is a digital asset that represents real-world objects such
Value Added Tax
Reciprocity Agreements and Why They Matter When Recovering VAT
Sovos recently hosted an online webinar on VAT recovery where we covered reciprocity agreements between the UK and EU Member States when making 13th Directive
Value Added Tax
How to Prepare for a VAT Audit
Our previous articles covered audit trends we have noticed at Sovos and common triggers of a VAT audit. This article discusses the best practices on
Value Added Tax
The Effect of Inflation on VAT Rates
It’s no surprise that inflation is on the forefront of everyone’s mind, with prices continuing to sky-rocket month by month. Data from the United Kingdom
Tax Compliance
Common Triggers of a VAT Audit
Since many audits seem to occur at random, it’s not always possible to identify the reason why a tax office would decide to initiate one.
Value Added Tax
Trends in VAT Audits – EU Focus on E-commerce
Continuing our series on VAT audits, we take a closer look at the trends we’ve seen emerging in the activities of the EU Member States’
Value Added Tax
VAT for Virtual Events – Exemption, Hybrid Events and Reduced Rates
In a recent blog, we considered the upcoming changes to the VAT treatment of virtual events. Today, we will consider some of the issues that
Tax Compliance
Trends in VAT Audits – Increased Interest From the EU
A recent report released by the European Commission has stressed the need for Member States to increase the number of audits they undertake, particularly in
Value Added Tax
New Place of Supply Rules for Virtual Attendance of Events
Events and conferences typically take a long time to organise and in the early part of 2020 several events that were scheduled to take place