VAT news tagged as "Recovery"

Europe

EU VAT obstacles for Chinese companies

September 2nd, 2018

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 2008, with bi-lateral trade reaching $425.58 billion, representing a 19.5% growth from the previous …


China

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

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 …


Spain

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 …


Europe

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 …


China

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 …