VAT news tagged as "VAT exemption"

Turkey

Turkey VAT update

October 8th, 2016

The Turkish 2104 VAT Law has been recently amended. Changes include: Bond purchases become VAT exempt An exemption from VAT on transportation costs for animal-related supplies Changes to the VAT calculation on related-party transactions VAT exemption on certain certified infrastructure construction A VAT exemption on the trading of asset leases by financial institutions


Hungary

Hungary tax agents for VAT recovery and VAT warehouse requirements

December 28th, 2013

There have been a number of further changes to the Hungarian 2014 tax Bill. The new changes to the Hungarian VAT regime include: Foreign tax payers’ agents for VAT refunds In accordance with the EU VAT Directive, EU companies without a permanent establishment in Hungary may now use local tax agents to represent them for …


Italy

Italy IT support services for financial services are VAT exempt

March 18th, 2013

The Italian Supreme Tax Administration Court has ruled that Information Technology services provided as part of a Italian VAT exempt financial services may also enjoy a VAT exemption. The review concerned IT processing services providing by a company working on credit card payments for banks.  Since the support was essential to ensure the provision of …


Germany

German VAT new intra-communinty exemption

March 16th, 2013

The German VAT office (BMF) has provided new simplifications on the intra-communicty supply of goods and German VAT treatment.  This will apply from 1 April 2013. Under the EU-wide VAT rules, sales of goods across EU borders are treated as VAT exempt dispatches (sales) and arrivals (purchases) by businesses to reduce the number of situations …