VAT news tagged as "Intra-community supply"

Italy

Italy cancels 60,000 VAT numbers

October 16th, 2016

The Italian Revenue Agency will cancel over 60,000 VAT numbers from the European VAT Information Exchange System (VIES). The anti-fraud measure is targeting taxable businesses that had not filed EC listings in Q1 2015.  Any company contacted by the Italian tax authorities with a cancellation notice will have to produce evidence within 60 days of intra-community trades …


United Kingdom

EU VAT fraud spreading to UK pharmaceutical industry

March 4th, 2015

The UK’s tax authority, HMRC, is stepping-up its investigations into the emergence of EU VAT fraud in the pharmaceutical and medical supplies industry. This type of fraud, which is based around gaps in the EU VAT regime, has cost member states billions in lost revenues in other sectors over the past 10 years, according to …


Europe

VAT cash-flow issues can sink non-resident EU business

January 31st, 2015

While 2015 sees VAT rate increases of in many countries hitting consumer pockets, businesses will also suffer increased cash-flow burdens. Companies do of course employ a variety of commercial measures to plug the ouput-input VAT gap, but often it is the unexpected broadsides in foreign countries that can sink the ship. Intra-community VAT compliance Take …


Austria

Austria to raise Intrastat threshold 2015

December 12th, 2014

The current reporting level is €550,000 for both goods moving into Austria (Arrivals) and goods leaving (Dispatches). From 1 January 2015, the new threshold will be €750,000 for both. Intrastat reporting Intrastat is the reporting regime applied across all 28 member states of the European Union. It helps governments track the movement of goods across …