VAT news tagged as "VAT regime"

Europe

EU destination-based VAT reform hitch

April 16th, 2018

Progress on the EU’s ambitious proposals for a ‘Definitive VAT System’ by 2022, grounded on a leap to a destination-based VAT regime to combat fraud, is being delayed over a proposed exemption for large companies. The current rotating EU presidency is held by Bulgaria which had hoped for next-stage agreement by May. But this now looks likely …


Europe

EU VAT reform challenges

October 29th, 2017

On 4 October, the European Commission (EC) announced a fundamental reform of the EU VAT regime to help combat an estimated €50billion of annual VAT fraud. 3 major changes to the B2B EU VAT regime 2019 Introducing four ‘Quick Fixes’ to ameliorate the existing VAT regime on international B2B transactions, including: Harmonisation across the states …


United Kingdom

Brexit: will UK leave the EU VAT regime?

August 18th, 2017

When the UK leaves the European Union, will it also exit the EU VAT regime? Perhaps not. By March 2019, the UK is scheduled to exit the EU.  This includes the UK no longer being part of the EU VAT system.  This will mean fundamental changes to the VAT, customers reporting and cash-flows on trade between …


Saudi Arabia

Saudi Arabia VAT regime details

July 24th, 2017

Implementation regulations have been issued for the 2018 Saudi Arabia VAT regime. The implementation regulation adds lengthy details to the recently published VAT implementation legislation.  This in turn is based on the Gulf Co-Operation Council (GCC) VAT Treaty, which provides broad guidance on the VAT regime to be introduced in 2018 in all 6 GCC …