Hungary VAT registration threshold HUF 12m Jan 2019Category:

United Kingdom

UK MTD pilot goes public; Oct 2019 groups & non-resident delay

October 16th, 2018

HMRC announced today that it is opening the test pilot for its Making Tax Digital for VAT programme to the public.  However, HMRC also announced that it is deferring the MTD obligations for group VAT returns, non-residents and certain other use cases until October 2019. MTD will require digital transactional recording and filing of UK VAT …


Italy

Italy Esterometro replacing the Spesometro Jan 2019

October 15th, 2018

On 1 January 2019, Italy will withdraw the requirement for resident and non-resident Italian tax payers to complete the Spesometro quarterly / bi-annual sales and purchase invoice listing. This is part of the extension of SdI live invoice reporting to all B2B and B2C transactions. The Spesometro will be replaced by a new monthly filing, the …


Ireland

Ireland raises tourism VAT to 13.5%

October 9th, 2018

In today’s 2019 Budget, Ireland announced that it will raise the VAT rate on tourism services from 9% to 13.5%. This will happen on 1 January 2019. The Minister for Finance, Pachal Donohoe, stated that the 9% rate, set in 2011 during the financial crises, ‘had done its job’. It is anticipated this increase will …


United Kingdom

Avalara MTD Filer FREE tool for HMRC’s MTD

October 4th, 2018

From 1 April 2019, more than 2 million VAT-registered businesses will be required to digitize their accounting and VAT filing for the new HMRC Making Tax Digital (MTD) requirements. This ends manual keying-in of VAT return data on HMRC’s existing online VAT platform, which HMRC says is used for 88% of current VAT filings. HMRC …


Europe

EU agrees reduced VAT on e-books, quick fixes and domestic reverse charge

October 2nd, 2018

European finance ministers today, 2 October 2018, agreed to allow member states to lower the VAT rates on electronic books and online newspaper subscriptions to the same nil / reduced rates as their paper equivalents. At today’s minister’s regular meeting, ECOFIN, in Luxembourg, they also agreed to three further measures: a trial of the anti-VAT fraud …


Italy

Italy Spesometro Oct 2018 update

September 24th, 2018

Italian VAT registered businesses are due to file their bi-annual Spesometro on 1 October. Italy will be introducing a new e-invoice live invoice SdI reporting regime in 2019 which will eliminate the Spesometro for resident businesses. There were a number of 2018 changes to the XML-based listing, first introduced in 2011, of sales and purchase …


France

France ends Saisonnier VAT returns

September 23rd, 2018

France has withdrawn the Saisonnier VAT reporting regime, which only required intermittent providers of taxable supplies to file VAT returns. Typically this was event organisers, large contractors and supply and install. Current Saisonnier registrations will be moved to quarterly returns from quarter 3, 2018. If a tax payers has an annual turnover above €4,000 per …


Europe

EU VAT Gap shrinks to €147.1billion

September 21st, 2018

The latest estimate for missing EU VAT from the European Union, the VAT Gap, has shrunk to €147.1 billion in 2016 from €157.7 billion in 2015. This represents a revenue gap of 12.2%. In terms of tax base, the gap has improved from 13.2% of VAT due down to 12.3%. The VAT Gap is a …


United Kingdom

UK Making Tax Digital pilot goes public

September 20th, 2018

The UK’s HRMC has confirmed the next-stage plans for its Making Tax Digital (MTD) for VAT pilot. The pilot is aimed at helping develop filing solutions to ensure businesses are ready to file returns on the new HMRC API platform from 1 April 2019. So far, the pilot has been closed just to software developers …