VAT news tagged as "Tax point"

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 …


Hungary

Hungarian 2014 VAT Act changes

December 20th, 2013

The Hungarian VAT rules have been updated via the latest version of the VAT Act.  Most of the amendments are aimed at bringing Hungarian VAT further into line with the EU VAT Directive. The various changes include the following major amendments: The VAT reverse charge mechanism will be extended to property construction. The supply of …


India

India Service Tax liability confirmed

August 20th, 2013

In a recent tax case, the tax point for Indian Service Tax was confirmed as the date of the service provided, as opposed to the date of the invoice. The case arouse following a tax audit of a shipping company.  It was identified that as invoice had been raised at the Service Tax rate of …


Poland

European Court overrules Polish VAT tax point

June 4th, 2013

The Polish tax point rules on the supply of certain services – the earlier of payment of 30 days after the supply – have been found to be in contravention of the EU VAT Directive. The European Court of Justice (ECJ), which hears final appeals on matters of EU VAT law, held in the case …


Italy

Italy changes VAT rules on intra-community tax point

December 12th, 2011

New Italian VAT legislation was approved recently, including the increase in Italian VAT rate to 23%. A further change was on the tax point on intra-community supplies of services. The tax point is the moment when the liability to charge VAT crystallises. This is when the supplier must charge his customer the VAT due. For …