Regulatory Analysis
The Spanish tax administration (AEAT) has informed that due to some technical difficulties, the 2021 changes to the SII mandate will be delayed from January 1, 2021, to January 4, 2021. This means that all the changes related to consignment goods in the Ledger of Intra-Community transactions, as well as those related to the Ledgers […]
The initial Saudi E-invoicing Regulation (Regulation) was enacted on 4 December 2020, but the details of the framework are yet to be published. The new framework is set to go live a year from now, on 4 December 2021, and will apply to all resident taxable persons, as well as any third party who issues […]
The Polish Ministry of Finance yesterday announced a timeline for its plans to introduce a Continuous Transaction Controls (CTC) scheme, with a roll-out to start at the end of 2021. By the end of 2021, e-invoicing via a centralized platform will be made available, but still remains optional for companies; from 2023 it will be mandatory for […]
The Irish Government have released their proposed Brexit Omnibus Bill 2020 which sets out several tax measures to assist in dealing with the effects of Brexit. One of the proposed measures is introducing postponed accounting for import VAT. The proposed measure means that importers would be able to record the import VAT in the VAT […]
The EU Council have now adopted the rules in relation to the introduction of a special VAT identification number that is to be provided to businesses in Northern Ireland at the end of the transitional period on 31 December 2020. The new VAT number will be the same numerical digits as their exiting UK VAT […]
The Greek tax authority published new schema changes (version 1.02) and updated technical documentation for myDATA eBooks. The new schema includes, inter alia: a) new fields, e.g., to allow for reporting of taxes other than VAT, b) new business errors, c) as well as updates regarding, e.g., the API method for cancelling document types. Find the […]
The Irish government has recently set out its Finance Bill for 2020 which includes an amendment to the Irish VAT Act giving tax authorities the power to issue a notice to a non-Irish trader requiring them to appoint a fiscal representative. Many EU Member States already make it a mandatory requirement for non-EU businesses to […]
The European Commission (“EC”) recently opened a feedback period on an initiative to reform the VAT exemptions applied to financial and insurance services. This period is open for four weeks, ending November 19th, 2020. The initiative aims to address the lack of VAT neutrality and the regulatory complexity and uncertainty in delineating the scope of […]
The European Commission recently updated its “Taxes in Europe” database, a free online resource for EU VAT information, to enable product/service categories and CN code chapters as search criteria. The database provides an overview of VAT rates applied in Member States, including the application of reduced and zero rates.
The changes related to the myDATA scheme announced through a recent press release are now established in law. The scheme remains voluntary for 2020 and mandatory from 1 January 2021, but a new phased timeline has been published and new historical data are in scope. Data issued between October – December 2020 can be reported until […]
The changes related to the myDATA scheme announced through a recent press release are now established in law. The scheme remains voluntary for 2020 and mandatory from 1 January 2021, but a new phased timeline has been published and new historical data are in scope. Data issued between October – December 2020 can be reported until […]
Portugal has postponed the obligation for taxable persons that are not established but are VAT registered in Portugal to issue invoices through certified software from 1 January to 1 July 2021. The tax authority’s decision is available in Portuguese on the tax authority’s website.
Important steps have recently been taken towards the long awaited adoption of VAT in Oman, making it the fourth Gulf State to introduce VAT as part of Gulf Union agreement. The Sultan of Oman has issued a Royal Decree (Decree) in relation to VAT implementation. According to the Decree, a 5% VAT rate will be […]
Yesterday, on the actual go-live date of the myDATA reporting framework, the Greek authorities recategorised the roll-out from mandatory to a voluntary pilot program for 2020. The mandatory phase, which should have started yesterday, has instead been deferred to 1 January 2021. For more information about the announced changes, read our blog.
Indian officials continue to provide updates to the e-invoicing reform that partially enters into force in less than a month’s time on 1 October. Most recently, new release notes have been published on the API Sandbox web page on 8 September 2020. The changes introduced include for example: • E-Commerce Operators (ECO) have been enabled […]
The Hungarian tax authority has published new documentation applicable to its real-time reporting system. The documents are now in version 3.0, as follows: XML Schema Definitions: OSA v3 Schemas (last updated 07 Sept/2020) API example XML: API example XML (last updated 07 Sept/2020) Web Application Description file: Application WADL (last updated 07 Sept/2020) According to the Minister of Finance, the version 2.0 can be […]
The Argentinean tax administration has enacted a new resolution Nº 4671/2020 postponing some of the effective dates of the implementation of the Digital VAT Ledger, locally known as “Libro de IVA Digital”. According to the Resolution, the new calendar of implementation will be as follows: For taxpayers with gross revenues during 2018 fiscal year between […]
Starting September 16, 2020, the tax administration of Ecuador will begin to enforce the collection of VAT on digital services supplied by providers not domiciled or established in that country. As a result of decree 1114/2020, foreign suppliers have the option of registering at the tax administration and applying 12% on the provision of these […]