VAT news tagged as "VAT registrations"


EU VAT obstacles for Chinese companies

September 2nd, 2018

Chinese enterprises trading across the EU can be hindered by many barriers; particularly EU VAT, which can leave unsuspecting firms facing large fines or delays in deliveries. According to figures published by Xinhua, the EU remained China’s biggest trading partner in 2008, with bi-lateral trade reaching $425.58 billion, representing a 19.5% growth from the previous …


Spain relaxes VAT bank rule

May 2nd, 2016

Spain has proposed dropping the requirement for non-resident VAT registered businesses to provide a Spanish bank account for receipt of VAT credits. The requirement has been deemed as prejudicing the operation of the EU Single Market, placing unnecessary administrative requirements on the free movement of goods and services.


Portugal VAT changes

February 28th, 2016

Portugal is proposing a range of VAT changes to the VAT Law, Codigo do Imposto sober o Valor Acrecentado. Simplifications to the low-value invoice disclosure requirements.  The simplifications are available for invoices below the value of €1,000 VAT on bread will be cut to the reduced rate of 6% The VAT rate on restaurants and …


VAT pitfalls for non-EU corporations

January 7th, 2016

Non-EU businesses are regularly and unwittingly caught out when they embark on making taxable supplies in the EU, without properly preparing for the European VAT compliance issues that can arise. VAT for US companies Take, for example, a US corporation agreeing a world supply deal with a high-profile US global-brand customer. It is decided in …


Non-resident businesses, VAT and reverse charge

January 6th, 2016

Non-resident businesses who may be VAT registered in other EU Member States will need to ensure they are up-to-date with new compliance requirements associated with the increased application of reverse charge mechanisms. The reason for the introduction of the reverse charge has been for EU tax authorities to keep control and combat fraud. Instead of …


Polish VAT update

November 21st, 2015

The new Polish VAT Act proposes a wide range of Value Added Tax rule changes from 1 January 2016. These include: The introduction of split-payment procedures whereby purchasers pay the VAT element of any invoices direct to the government instead of their suppliers to help reduce the instances of VAT fraud. Such a procedure will …