VAT news tagged as "EU VAT Directive"

Bulgaria

Bulgaria VAT update

September 5th, 2018

Bulgaria is introducing a range of VAT amendments to further harmonise its rules with the EU VAT Directive, recent ECJ rulings and other priorities. These include: Introduction of the new EU treatment for VAT vouchers, including multi and single use voucher liabilities Introduction of an import VAT deferment scheme to allow deferment of payment of …


Luxembourg

Luxembourg VAT Groups

August 19th, 2018

From 31 July 2018, Luxembourg has introduced VAT Groups which permit closely bound, but legally independent, tax payers to file a single, combined VAT return. This enables them to minimise VAT payments and potential losses. This is based on Article 11 of the EU VAT Directive, and follows the ECJ Commission v Luxembourg C-274/15 judgement, …


Poland

Poland VAT fixed establishment risk

May 26th, 2018

Poland has recently been extending the liability of foreign companies to VAT register under the fixed establishment rules for services. Under EU VAT Directive rules, where businesses have a sufficient degree of permanence of human and technical resources to allow it to receive and use the services supplied to it, is has a fixed establishment …


Europe

EC adopts draft definitive VAT regime Directive

May 25th, 2018

The European Commission today adopted a new draft EU VAT Directive for the operation of the definitive VAT system. This includes changing to a destination-based VAT regime, and withdrawing zero-rating on intra-community supplies. The aim is to help eliminate and estimated €50billion in VAT fraud, particularly carousel fraud. The new draft includes over 200 amendments …


Italy

Italy Sistema di Interscambio (SdI) real-time e-invoices

February 20th, 2018

Italy has introduced mandatory real-time electronic sales invoice issuance and reporting from 1 January 2019. All relevant invoices have to be issued and submitted to the Italian Revenue Agency’s e-invoicing platform, Sistema di Interscambio (SdI). The measure has been required of sales to government bodies since June 2014. SdI effectively acts as an invoice approval portal, ensuring …


United Kingdom

UK rules chocolate milkshake VAT free but strawberry & banana liable

February 14th, 2018

Today, the UK Upper Tribunal Tax court ruled that Nestlé’s Nesquik chocolate powder milkshake was zero rated for VAT; but strawberry and banana flavor were subject to 20% standard rated VAT. Nesquik milkshake drink powder is available in three flavours: chocolate; strawberry and banana. The chocolate flavor is based on cocoa butter which is zero …


Europe

EU VAT reduced rates overhaul

January 18th, 2018

The European Commission has today issued proposals giving more flexibility to EU member states in setting their reduced VAT rates.  The plans could be implemented in 2022. Presently, states are limited to two reduced VAT rates below their national standard VAT rate, but no lower than 5%.  Countries may only set their reduced rates for prescribed goods and …