VAT news tagged as "Reverse charge"


EU fails to agree on VAT General Reverse Charge

June 19th, 2017

The most recent meeting of EU Finance Ministers (ECOFIN) on 16 June failed to agree on the implementation of the voluntary General Reverse Charge (GRC) to fight VAT fraud. The GRC, promoted by the Czech Republic and other central European member states, was the latest strategy to attempt to combat the estimate €50billion ‘missing trader’ …


EU legal blow to reverse charge fraud measures

May 30th, 2017

Lawyers to the European Council of Ministers have alegedly cast doubt on a proposal to introduce a voluntary reverse charge mechanism to combat VAT fraud.  The measures were to be introduced until 2022 to help reduce fraud estimated to cost member states up to €50billion per annum in lost VAT revenues Generalised reverse charge proposal …


EU VAT general reverse charge delayed

March 22nd, 2017

The European Commission’s proposal for the voluntary introduction of the general reverse charge to combat VAT fraud has been put on pause.  The delay is due to legal concerns raised at this week’s ECOFIN meeting of EU Finance Ministers. The EU’s Legal team has highlighted several issues, including: There is uncertainty if the EU Council or the …


EU general reverse charge update

March 10th, 2017

EU member states have continued to debate the proposed introduction of an anti-VAT fraud general reverse charge mechanism.  This would enable countries to remove the cash-element of B2B domestic transactions, and thus reduce VAT fraud. France has challenged the plan on the basis that it contravenes EU treaties.  However, the Czech Republic, which sponsored the …


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 …


Italy VAT warehouses

October 28th, 2016

From April 2017, domestic taxable supplies of goods from VAT warehouses will not require a VAT payment by the customer. Goods introduced to the warehouse via an intra-community supply will be exempted from this new rule. Instead, VAT due will be paid directly to the tax authorities by the warehouse operator. The customer will raise …


Poland VAT fraud measures

October 9th, 2016

The Polish Ministry of Finance has issued draft measures to help combat VAT fraud. The potential changes, scheduled for January 2017, include: Raising the VAT registration threshold from PLN 150,000 to PLN 200,000 per annum New guarantee on the refund of VAT credits within 60 days, and 25 days where proof can be provided of …


Indian GST risks for tech

August 18th, 2016

This month, the Indian Parliament approved the constitutional amendment to enable the implementation of a new Goods & Services Tax (GST). GST will replace a plethora of indirect taxes, including CENVAT, VAT and Service Tax. This includes the withdrawal of multiple taxation of the same movement of goods across internal state borders. It is anticipated …

Czech Republic

Czech VAT changes

August 11th, 2016

The Czech VAT Act has been updated at the end of July 2016. The changes include: All non-resident VAT payers will now be administered by the Ostrava tax office. This is a switch from the Prague tax office from 1 Sept 2016 Introduction of the VAT reverse charge on domestic supplies to resident and non-resident …