VAT news tagged as "ECL"

Hungary

Hungary – VAT control reports and invoice changes

October 1st, 2012

Two new Hungarian VAT reporting demands are being introduced; a domestic recapitulative report in the agricultural commodities sector along with a generally applicable high-value summary. To stem the fraud upsurge, brought on by Hungary’s high VAT rate scale , a reverse charge cure has been targeted on the most affected area of farm food basics …


Europe

European Commission paper on EC Sales Lists

May 5th, 2012

The EC issued a report on 24 May 2012 on the impact of the changes across the EU, as required under VAT Directive 2008/117/EC (amending 2006/112/EC) with effect from 1 January 2010. The purpose of the amendment had been to speed up the information reporting by businesses in order to detect fraudulent activity more quickly. …