VAT news tagged as "Reverse charge"

Saudi Arabia

Saudi Arabia VAT reverse charge foreign providers

October 5th, 2018

The Saudi Arabian tax authority has published guidance on the reverse charge rules for B2B supplies provided by non-residents. As with most VAT regimes, the ‘general rule’ place of taxation for services is where consumed. The reverse charge is a VAT simplification which limits the instances where a foreign provider has to VAT register in …


EU fails to agree fraud general VAT reverse charge

May 29th, 2018

At Friday’s EU meeting of the finance minister, ECOFIN, member states failed again to agree on a generalized reverse charge to combat carousel VAT fraud. The proposal was last discussed at ECOFIN in June 2017, and no agreement was reached. The mechanism, which zero rates VAT on domestic transactions above €10,000, was championed by the Czech …


Portugal import VAT reverse charge Mar 2018

March 6th, 2018

Portugal has extended the import VAT reverse charge relief to all goods from 1 March 2018. Similar postponed import VAT accounting relief are popular across the EU. The regime was introduced for a restricted list of goods, including cereals, wools and olive oil, on 1 September 2017. It enables approved companies to postpone the cash …


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 …