VAT news tagged as "Cash accounting"

Finland

Finland to launch VAT cash accounting

September 3rd, 2016

Finland plans to introduce cash accounting basis for VAT reporting. This would mean taxpayers only declaring and paying VAT on sales (output VAT) when the receivable has been collected. There is no scheduled date for the launch of the regime.  It would likely only be offered to small businesses.


Greece

Greece introduces cash accounting for VAT

November 21st, 2014

Greece is to follow countries like Spain with a cash-based VAT option as opposed to the commonly accepted accruals-based reporting regime. The new regime came into effect on 1 October 2014, and requires eligible companies to apply ahead of the forthcoming financial year. The new Greek VAT system will only be available to smaller companies …


Croatia

Croatia VAT compliance update

November 20th, 2014

A range of Croatian VAT compliance changes have been introduced recently to update the VAT Law. These include: VAT on immovable property The supply of building is to become VAT exempt in accordance with the EU VAT Directive rules on immovable property. 2015 Mini One Stop Shop changes The changes to the EU VAT Directive …


Spain

Spanish VAT cash accounting 2014

December 24th, 2013

Spain is the latest country to introduce a simplified cash-based VAT reporting facility for smaller companies.  This helps small business keep cash flows under better control, and simplifies the Spanish VAT compliance burden. The new regime is based on Law 14 / 2013, comes into effect on 1 January 2014.  It is offered to taxable …