VAT news tagged as "VAT invoice"

United Arab Emirates

UAE VAT invoice update

September 12th, 2018

The United Arab Emirates’ Federal Tax Authority has published VAT invoice guidance. This covers: VAT invoices must be provided to customers for all taxable supplies; Full invoice must detail for each line item the VAT and net values per supply; Simplified invoices need not split out the net VAT amount where multiple supplies are made; …


Portugal live VAT invoice reporting 2019

September 4th, 2018

Portugal is to take the first step towards live VAT invoice reporting from 1 January 2019. From this date, all B2G (business to government bodies) supplies must be performed with an electronic invoice which will be submitted directly to the tax authorities. This will operate through the existing public finance portal, Fatura Eletrónica na Administração …


Global VAT changes 1 July 2018

July 1st, 2018

Below is a summary of major VAT and GST changes that come into effect on 1 July 2018: Australia drops GST-free levy on small goods, and requires non-resident e-commerce companies to register if over the threshold of AU$ 75,000 per annum Bahamas raises VAT to 12% The introduction of Polish Split Payments Hungary introduces live …

Saudi Arabia

Saudi Arabia simplified VAT invoice

January 30th, 2018

The Kingdom of Saudi Arabia is relaxing the requirement to produce simplified invoices for B2C sales under the new VAT regime. Initially following the 1 January 2018 introduction of VAT, simplified VAT invoices could only be produced for all sales below Riyals 1,000.  However, the General Authority of Zakat and Tax (GAZT) now states that this is …


Hungary live VAT invoice reporting July 2018

January 18th, 2018

Hungary has confirmed this week that live VAT invoice reporting will proceed from 1 July 2018. The requirements apply to invoices with VAT chargeable above HUF 100,000 (approx. €320) – meaning a net invoice value of HUF370 000 (approx. €1,195). The timing of reporting Has been tightened up since the last update, and the option to …


Italy delays VAT invoice listing again

October 5th, 2017

Italy has again postponed the deadline for the submission of the invoice listing – the Spesometro. The new deadline is 16 October 2017. This declaration covers the first six months of 2017. In addition to the quarterly VAT return, a quarterly invoice listing, Spesometro, is due in Italy.  This has replaced the previously annual Spesometro …


Hungary live VAT invoice reporting 2018

July 20th, 2017

Hungary’s Ministry for the Economy has provided further draft proposals on its July 2018 requirements for real time reporting of major sales invoices. Key requirements include: Sales invoices with output VAT above HUF 100,000 must be declared by VAT registered businesses to the tax authorities within 24 hours of issuance Declarations must be electronic, via …


China small company VAT invoices

March 14th, 2017

The Chinese tax authority has granted the right for small tax payers in key sectors to the right to issue sales invoices without seeking prior approval via the Golden invoice regime. The new easement of the invoicing requirements will apply to companies with annual sales below CNY 90,000 per quarter. China’s Golden Tax System in …

Czech Republic

Czech Republic issues new VAT invoice rules

June 25th, 2013

The Czech General Finance Directorate has issued new guidance on the rules for Czech VAT invoices, in accordance with the latest EU VAT Invoicing Directive. The new guidance covers: Companies may retain VAT invoices outside of the Czech Republic as part of outsourcing arrangements Electronic invoices may be used if backed-up by secure control procedures.  …