VAT news tagged as "Invoice"

Czech Republic

Czech VAT 2019 update

February 27th, 2018

The following amendments to the Czech VAT have been proposed from January 2019: Adoption on new EU rules for the VAT treatment of vouchers. This includes the treatment of single use vouchers as being similar to advance payments with VAT due at payment. This contrast with multi-purpose vouchers, which may be potentially used at different stores …


Hungary

Hungary lowers domestic invoice listing threshold

June 18th, 2017

From 1 July 2018, Hungary will recover all VAT-registered businesses to provide a live report of transactions above HUF100,000.  This is a lowering of the planned threshold. The report, Belföldi Összesítő Jelentés Kereskedelmi Partnerenként, are required with the regular VAT return.


Costa Rica

Costa Rica e-invoice database

September 21st, 2016

Costa Rica is formalising plans to create a centralised, compulsory database of all invoices, credit notes and supporting documentation created by taxable persons. The new e-invoice database will mirror systems in China and Brazil, and should help reduce fraud. The tax office has now provided details of the format requirements for providing invoice details. The …


Europe

EU ECJ VAT invoice requirements

September 20th, 2016

The European Court of Justice has ruled that VAT invoices need only meet the substantive requirements of the VAT Directive for entitlement to VAT recovery. The case, Barlis 06 (C-516/14), concerned an invoice for legal services to a Portuguese hotel chain. The description of the services was vague, and the dates of ongoing consulting unclear. …


Vietnam

Vietnam VAT changes

April 29th, 2016

The Vietnamese General Department for Taxation has clarified two areas for VAT compliance Input VAT – there will be no provision for transport input VAT relief if sales agreement or invoice is signed after any export VAT on discounts – VAT invoices should be issued where vendors give purchases additional goods or stocks for bulk …


Belgium

Belgium reforms VAT invoice tax point

July 9th, 2015

Belgium is to complete a long-delayed change to the tax point on invoices. A new proposal will set the tax VAT is due as the date of issuance of the invoice. If the vendor fails to issue any invoice for the taxable supply by the 15th of the month following, then the VAT becomes immediately …


Japan

Japan consumption tax on digital services update

June 20th, 2015

The Japanese tax agency has provided some further updates technical issues for the forthcoming launch of Consumption Tax on digital services provided by foreign companies. From 1 October 2015, B2C supplies of electronic services by non-resident providers will be subject to 8% Consumption Tax. This will include the obligation of register for CT if the …


Italy

Italy provides guidance on electronic invoices

October 28th, 2014

The Italian VAT office has provided new guidance for the use of electronic VAT invoices – e-invoices. Included within the guidance are the following points: Customers may retain the right to hold electronic invoices in paper format only be printing off invoices for retention Companies may convert existing paper invoices into e-invoices under strict rules, …