VAT news tagged as "VAT credits"

Turkey

Turkey VAT updates

March 8th, 2018

Turkey has proposed a range of changes to its VAT law, including: VAT credits will be paid within 12 months or 3 months if they cannot be offset against output VAT due. Any outstanding VAT due to taxpayers will be paid down by the end of 2018. There will also be the right to interest …


Bulgaria

Bulgaria VAT update

April 21st, 2017

Bulgaria has updated its VAT Act, including the following changes: New rules on apply VAT credits on partial use assets The VAT treatment of prepaid telephone cards is to be harmonised with regular telephone services New proof of international status of transport services is required to enjoy zero rating The measures above come into affect …


Italy

EU moves to stop Italian bank guarantee requirement for VAT credits

October 30th, 2013

The European Commission is seeking to prevent Italy demanding a bank guarantee from non-resident companies seeking to apply for a VAT credit via their Italian VAT returns. EC wants neutrality for non-resident VAT payers in Italy The EC infringement procedures issued seek to redress the imbalance of non-Italian VAT registered businesses looking to have a …