Regulatory Analysis

Posted October 2, 2023 by Robert Pelletier
Cyprus: Temporary Zero Rate on Basic Items Extended until April 30, 2024

As the Cypriot Tax Department announced on September 20, 2023, the temporary zero VAT rate that applies to basic food and consumer items such as bread, milk, eggs, baby foods, baby and adult diapers, and female hygiene products has been extended by six months. The temporary zero VAT rate, previously set to expire on October […]

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Posted September 29, 2023 by Joanna Hysi
Belgium: Preliminary draft legislation introducing B2B e-invoicing mandate is approved

The Council of Ministers, which is the highest executive authority at a federal level, approved today a preliminary draft law that introduces mandatory B2B e-invoicing in the country. The draft introduces changes to the Value Added Tax Code to introduce a requirement for the issuance of structured electronic invoices between taxpayers. The requirement will cover […]

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Posted September 20, 2023 by Inês Carvalho
Romania: Draft legislation on B2B e-invoicing mandate is published

The Romanian Ministry of Finance published draft legislation proposing new budgetary measures among which is the implementation of the highly anticipated electronic invoicing mandate. Even though the draft legislation maintains the January 2024 roll-out date previously approved by the EU Council, it proposes an invoice reporting system to operate in the first 6 months, with […]

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Posted September 20, 2023 by Joanna Hysi
Greece – Plans for e-invoicing mandate are underway

Greece’s Ministry of Finance announced in a press release (“Specification of the economic initiatives presented by the Prime Minister at the Thessaloniki International Fair”) on September 19, 2023, that the Ministry and the Greek tax authority, AADE, have started a dialogue with the European Commission to discuss the conditions required for Greece to implement a […]

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Posted September 15, 2023 by Dilara İnal
France: Updates on Postponement of CTC reform

France is in the process of implementing a Continuous Transaction Controls (CTC) system which introduces mandatory e-invoicing for domestic B2B transactions and e-reporting obligations. In a recent meeting of the Communauté des Relais, the tax authority announced more details surrounding the previously communicated postponement of the B2B e-invoicing mandate in France. While the formal dates […]

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Posted August 11, 2023 by Gabriel Pezzato
Romania: Return D300 has been updated

ANAF updated the return D300 in response to the enactment of Law 88 from April, 2023. This legislative amendment introduced VAT exemptions with right of the deduction to construction services supplied to hospitals, as well as certain supplies of medical equipment and orthopedic products. To align with the new amendment, the revised D300 requires taxpayers […]

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Posted July 25, 2023 by Andrew Decker
Cyprus Introduces 3% VAT rate

Cyprus published The Value Added Tax (Amendment) (No. 3) Law of 2023 in the Gazette on July 21, 2023. Effective immediately, the Amendment introduces a 3% reduced VAT rate on several items previously subject to a reduced rate of 5%, including print publications, orthopedic devices, and street cleaning services. The published Amendment can be found […]

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Posted July 7, 2023 by Carolina Silva
Croatia: New CTC Project – “Fiscalization 2.0.”

The project teams within the Ministry of Finance working on the development of the Fiscalization 2.0 system in Croatia, have been in touch with the Italian and French e-invoicing experts to hear their experiences from the implementation of these two countries’ CTC systems. The Ministry could be inspired by one or a combination of the […]

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Posted July 6, 2023 by Marta Sowińska
Poland: updated schema FA(2) published and more information about KSeF released

On June 29, the Ministry of Finance (MoF) published updated schema FA(2) on the ePUAP platform in the Central Repository of Electronic Document Templates (CRWDE), template number (2023/06/29/12648). Important information about timelines: July 2023– the MoF will provide the test environment for the schema FA(2). July to August 2023– both schema versions will apply in […]

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Posted July 5, 2023 by Edit Buliczka
Romanian Guarantee Fund contribution – change of rules

New regulations were recently adopted concerning the contributions to be paid to the Romanian Guarantee Fund (Fondul de Garantare a Asiguraților). Prior to this, contributions to the Romanian NGF (now known as the NGF contribution) were only payable by domestic insurers that were authorized by the Romanian Financial Supervisory Authority (ASF), including the activity of […]

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Posted July 3, 2023 by Robert Pelletier
Austria: Temporary Zero VAT Rate on Face Masks Expires June 30, 2023

The temporary zero VAT rate that applied to supplies of protective face masks in Austria expires on June 30, 2023. The law, pursuant to Section 28(54) of the VAT Act, can be found here.

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Posted June 27, 2023 by Robert Pelletier
Poland: Zero VAT Rate on Basic Food and Drinks Extended until December 31, 2023

As announced by the Polish Ministry of Finance on June 27, 2023, through an article on their news website, the zero VAT rate that temporarily applies to supplies of certain food and drinks has been extended until December 31, 2023. The article can be found here.

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Posted June 21, 2023 by Marta Sowińska
Serbia: Updates to the SEF documentation on e-invoicing and VAT recording

The Ministry of Finance in Serbia has recently published and updated: The Rulebook on electronic invoicing: Rulebook on electronic invoicing ( Internal Technical Manual (16.06.23): Updated internal technical manual (16.06.2023.) ( Instructions for using XML files: Instructions for using XML files (05.06.2023.) ( Main changes introduced in the Rulebook: Replaces three regulations that were applying […]

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Posted May 26, 2023 by Robert Pelletier
Cyprus: Temporary Zero Rate on Basic Items Until October 31, 2023

As published in the official gazette on May 5, 2023, basic food and consumer items such as bread, milk, eggs, baby foods, baby and adult diapers, and female hygiene products will temporarily apply the zero VAT rate in Cyprus. The temporary zero VAT rate will apply from May 5, 2023 until October 31, 2023. The […]

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Posted May 26, 2023 by Robert Pelletier
Egypt: Marketplace Liability on Sales of Remote Services and E-Services effective 22 June 2023

Effective 22 June 2023, electronic distribution platforms (EDP), such as a website, internet portal, online store, or online marketplace, are required to charge and collect VAT on the sale of remote services and electronic services made to Egyptian consumers through their platforms. Remote services are services that at the time of the performance there is […]

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Posted May 22, 2023 by Carolina Silva
Portugal: Mandatory B2G e-invoicing for SME´s postponed again

In a recent Press Conference held by the Council of Ministers of the Portuguese government it was announced that a new law-decree for the execution of the state budget for 2023 was approved. One of the many changes announced is another extension of the mandatory B2G e-invoicing deadline for micro, small and medium-sized companies allowing […]

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Posted March 31, 2023 by Robert Pelletier
Botswana VAT Rate to Increase from 12% to 14%

On 18 January 2023, the Botswana Ministry of Finance (MOF) issued a public notice that the temporary reduced standard VAT rate of 12% will expire on 31 March 2023. The MOF confirmed in the 2023 Budget Speech on 6 February 2023 that the VAT rate will increase back to 14% on 1 April 2023. The […]

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Posted March 22, 2023 by Dilara İnal
Ghana: More taxpayers included in the e-VAT system

The Ghana Revenue Authority (GRA) introduced the e-VAT invoicing system in October 2022 with the first group consisted of 50 taxpayers as a pilot group. GRA announced the second group of taxpayers, and their implementations will start after the completion of the first phase and be completed by the end of 2023. With the e-VAT […]

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