VAT news tagged as "Recovery"


EU VAT obstacles for Chinese companies

July 7th, 2016

Chinese enterprises trading across the EU can be hindered by many barriers; particularly EU VAT, which can leave unsuspecting firms facing large fines or delays in deliveries. According to figures published by Xinhua, the EU remained China’s biggest trading partner in 2014, with bi-lateral trade reaching $525 billion, representing a 19.5% growth from the previous …


Denmark allows full deduction of hotel VAT 2015

September 8th, 2014

Denmark is to allow companies, resident and non-resident, to recover the input VAT incurred on hotel accommodation. Currently, only 75% of Danish VAT incurred on hotel stays for business purposes may be reclaimed through a VAT return or a VAT reclaim (for non-resident companies).  This will now become 100% from 1 January 2015. This follows …


Spanish VAT recovery and compliance changes

August 11th, 2014

A range of Spanish VAT compliance changes have been proposed in the latest amendment to the VAT Law. The changes will be implemented on 1 January 2015, subject to approval by the Spanish Parliament. The changes include: A range of services provided to non-EU companies from countries without a tax reciprocity agreement will become eligible …


EU withdraws VAT travel agent and VAT recovery proposals

May 24th, 2014

The European Union withdrew a number of proposed VAT measures this week. These include: Withdrawal of amendment (COM(2002) 64 2002/0041) to the travel agents’ Tour Operator Margin Scheme. The special mechanism aimed to simplifying the application of European VAT for smaller operators buying packages around Europe. However, many countries have failed to follow the EU …


Chinese VAT refunds for e-commerce exporters

January 16th, 2014

The Chinese Ministry of Finance has clarified the Chinese VAT refund process for Chinese online retailers selling outside of the country.  The new guidance covers Chinese enterprises selling via their own website or through the website platforms of others (e.g. Amazon). Currently, Chinese input VAT is levied at 17% along the production chain.  Import VAT …


Businesses look to sell their Italian VAT credits following 2010 reverse charge

August 13th, 2013

Since changes to the Italian Value Added Tax regime in 2010, many foreign traders have been left with VAT credits (input VAT suffered, due back from the Italian state).  This has created cash-flow problems, and forced them into selling them at a discount 2010 Italian reverse charge forces registration of many foreign companies At the …