Regulatory Analysis
Effective 1 January 2023, non-alcoholic beverages intended for human consumption, excluding water, fruit and vegetable juices, and milk, will apply the standard VAT rate of 19%. Restaurant and catering services, except for alcoholic beverages and non-alcoholic beverages that now apply the standard rate, will apply the reduced VAT rate of 9%. These rate changes, as […]
The Greek Tax Authority – IAPR announced on 30 November that VAT returns will be pre-filled using the data collected through the MyDATA system. The measure aims to simplify the filing process of VAT returns. The announcement states that the pre-filled returns will be available for Greek taxpayers starting from 5 December 2022 and will […]
The Greek Tax Authority, IAPR, published a press release on 1 November, announcing the extension of the deadline until 31 December 2022 for the transmission of accounting data of wholesale transactions, data of invoicing expenses, and self-invoicing income in the cases of discrepancies in the aforementioned transmitted data.
As previously announced, the Serbian Minister of Finance published the Draft Law on Amendments to the Law on Electronic Invoicing on the 9th of November, alongside the Draft Laws on Amendments to the Law on Value Added Tax, Law on Fiscalization, and Law on Tax Procedure and Tax Administration. The changes introduced to the Law […]
The Serbian Minister of Finance (MoF) published the draft Law on Amendments to the Law on Fiscalization. The Law of Fiscalization regulates the so called “Fiscalization”, which is the procedure of fiscalization of the content of the fiscal account through an electronic fiscal device. The amendments to the Law on Fiscalization impacting the future e-invoicing […]
On the 1st of December the Ministry of Finance published draft legislation amending the Act of 11 March 2004 on tax on goods and services (Journal of Laws of 2022, item 931, as amended) – hereinafter referred to as the “VAT Act” regarding the introduction of mandatory invoicing in the National e-Invoice System (KSeF) hereinafter […]
On 21 September, the Greek Parliament passed a bill introducing penalties for non-compliance with rules requiring taxpayers to transmit retail sales data issued via the Information System of Electronic Tax Mechanisms (F.I.M). According to Article 54H of the Tax Procedures Code, IAPR will impose the following penalties for non-transmission of the receipt summary to the […]
The Institute for Insurance Supervision (IVASS) in Italy has published the management charge rate for the year 2023. It set the rate for 2023 at 4.26%. The management charge reduces the taxable basis applied to the Road Accident Victims Fund (RAVF) and Hunting Accident Victims Fund (HAVF) and is published annually in November.
The Lithuanian Ministry of Economy and Innovation announced its plans to build a technological solution that will support the transmission of electronic invoices by the European standard for electronic invoices. According to the project plan announced by the Ministry, the platform is expected to be available free of charge to businesses for at least five years and be ready […]
German government has previously announced its ambition to introduce a uniform nationwide electronic reporting system that will be used for the issuance and validating of invoices as well as forwarding them to buyers. German ministry of finance announced during the IDSt-Conference Digital Transformation in VAT held on 16th of November 2022 that Germany has applied for […]
The Official Newspaper of the Grand Duchy of Luxembourg publish an amendment on October 26, 2022, regarding changes to the VAT rates. The standard VAT rate will be decreasing to 16%, the reduced-rate will be decreasing to 13%, and the super-reduced-rate will be decreasing to 7% effective January 1, 2023. These are temporary decreases that […]
On November 9, the Serbian Ministry of Finance published a Draft Law on Amendments to the Law on Electronic Invoicing. The main changes concern: Scope: Natural persons who are not liable for income tax from self-employment in the sense of the law governing personal income tax will be excluded from the provisions of this law. […]
HMRC has issued a new policy paper, Revenue and Customs Brief 11 (2022): VAT and children’s face masks, announcing a shift in their policy regarding children’s face masks. Children’s face masks are now considered children’s clothing and therefore qualifies for the application of a zero-rate of VAT. For the zero-rate to apply the masks must […]
On 23 September 2022, Law 4972/2022 was published in the Official Gazette of Greece, amending the provisions of Law 4601/2019 that establish the framework concerning electronic invoicing in public contracts. According to amendments, economic operators must submit electronic invoices following the European standard for issuing electronic invoices for the execution of public contracts, which entails a […]
The French authorities published new legal documentation that provides details on the overall French Mandate requirements. Some of them, especially with regard to the obligations of the Partner Dematerialization Platform (PDP) operators and e-reporting deadlines, were long-awaited. Decree No. 2022-1299 provides requirements and obligations of the Partner Dematerialization Platform (PDP) operators and the Invoicing Public Portal (PPF), the […]
On 30 September 2022, the Romanian Ministry of Finance published a draft Government Emergency Ordinance, including various amendments to various regulations. One of the important changes envisaged in the draft GEO is regarding the rules on fiscal inspections. While the fiscal inspections are carried out on the work premises of the taxpayers’ premises, as per Article 125 […]
The Danish Business Authority, Erhvervsstyrelsen, has prepared drafts for three executive orders concerning the new digital bookkeeping requirements. The below draft orders lay down the detailed requirements for digital accounting systems and rules for registration of these systems: Draft executive order on notification, registration, publication, etc. of digital standard bookkeeping systems Draft executive order on requirements for […]
On 12 July 2022 a Council Regulation of (EU) 2022/1207 was issued amending Regulation (EC) No 974/98 regarding the introduction of the Euro in Croatia from 1 January 2023. A fixed conversion rate between the Kuna and Euro has been confirmed, being set at 1 € = 7.53450 kn. Based on the communication from the […]