VAT news tagged as "Imports"

France

French VAT 2017 changes

January 8th, 2017

France has updated its VAT code for 2017 with a number of changes. Paper-based sales and purchase invoices may now be transferred to digital-only storage instead. The reduced 5.5% VAT rate is now applicable to a range of social housing, construction and property activities The VAT import reverse charge provision has been modified, requiring a …


Australia

Australia drops low-value goods GST relief

May 6th, 2016

Australia is to withdraw the AUD 1,000 GST free threshold on the import of goods. The relief enabled consumers to buy goods from major online retailers without the 10% GST that domestic platforms had to charge them. Any foreign supplier of B2C goods will have to GST register for sales of low-value goods if their …


Switzerland

Swiss VAT threshold changes

March 5th, 2016

The second house of the Swiss parliament, the Ständerat, ratified a bill modifying a number of VAT rules. The changes include Removal of the low value package VAT and customs relief threshold. This is currently CHF 65 for most goods Introducing the CHF 100,000 VAT registration threshold to foreign service providers The bill now passes …


Europe

VAT pitfalls for non-EU corporations

January 7th, 2016

Non-EU businesses are regularly and unwittingly caught out when they embark on making taxable supplies in the EU, without properly preparing for the European VAT compliance issues that can arise. VAT for US companies Take, for example, a US corporation agreeing a world supply deal with a high-profile US global-brand customer. It is decided in …


Spain

Spanish VAT exemption and place of supply changes

October 12th, 2014

The latest draft Spanish VAT rules changes have been published. These include: Changes to VAT refunds to customs agent on VAT imports VAT exemptions for services of certain political, religious, public or trade unions Changes to the place of supply rules for electronic services provided by non-EU digital providers as part of the EU VAT …


Singapore

Singapore GST changes

September 7th, 2014

A range of tax deductions and reclaims have been proposed to the Singapore Goods & Services Tax regime. These include: A relaxation on the deductibility of GST on real estate and goods incurred by unincorporated GST registered persons. This includes entrepreneurs and partnerships. Allowance for the nil-rating of GST on the provision of installation or …


United Kingdom

UK consultation on simplifying and modernising Intrastat

January 25th, 2014

The UK’s HMRC released this week a consultation on ideas to simply and modernise Intrastat filings. EC to ease Intrastat compliance burden The consultation has been launched off the back of an EU initiative from Eurostat to reduce the compliance requirements for Intrastat.  Intrastat is the reporting schedule EU VAT registered companies must complete to …


Bulgaria

Bulgaria changes 2014 Intrastat reporting threshold

January 6th, 2014

Bulgaria has changed its 2014 Intrastat reporting threshold.  These determine the annual amounts which taxable persons that are Bulgarian VAT registered in a country must start to complete monthly Intrastat detailing goods movements in and out of Bulgaria to other EU member state countries. The current arrivals (imports from other EU member states) threshold of …