VAT news tagged as "VAT returns"


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 …


Poland drops VAT return for SAF-T 2019

July 8th, 2018

Poland has announced plans to withdraw the requirement for the submission of monthly VAT returns. Instead, the already mandatory Standard Audit File for Tax (SAF-T) will suffice. This provides the tax authorities with details of all VAT transactions, and well as the total calculated VAT liability and other totals required for the existing VAT return. …

United Arab Emirates

UAE delays first VAT returns

January 23rd, 2018

The United Arab Emirates Federal Tax Authority has relaxed the initial filing dates for the new VAT regime, launched on 1 January 2018. This is to provide businesses, particularly smaller enterprises, time to adjust to the new indirect tax. Under the new VAT regime, businesses with a turnover above DH150million are required to file monthly …


Latvia VAT return update

July 9th, 2017

Latvia has recently changed its VAT returns.  Including: Lowering of the threshold for disclosing individual invoices from €1,430 to €150 It has adopted a new tax code, C, for reporting local and intra-community acquisitions, as well as imports of vehicles.


Italy VAT filings update

July 8th, 2017

Following the introduction on quarterly VAT returns and invoice listing, the Italian tax authorities have provided additional guidance on reporting.  Including: Corrections to filed returns may be carried out by e-submission Quarters with no transactions do not require VAT submissions For split payments, only the vendor need declare the net, taxable amounts


Finland 2017 VAT changes

December 31st, 2016

Finland is to introduce a range of changes to the VAT regime from 1 January 2016. These amendments include: A new online tax reporting portal, OMAVERO, is to be launched All tax payers must file electronic returns Quarterly VAT returns may only be completed by businesses with an annual turnover of under €100,000 per annum …


Poland VAT threshold and turnover tax

March 26th, 2016

Poland is reviewing raising its VAT registration threshold from PLN 150,000 to PLN 200,000. The Ministry of Finance is considering the move to reduce the compliance burden on small businesses, and to refocus the efforts of tax office staff on large-scale VAT fraud. In addition, for smaller businesses, the tax authorities may look to a …


Italy VAT on bad debts

February 17th, 2016

Italy has loosened the rules around VAT on bad debts in its 2016 Stability Law (budget). The changes include: The tax authorities will grant bad debt relief earlier in recovery court proceedings New rules for the recovery of VAT on bad debts for continuous supply contracts Output VAT may be recovered on a customer debt …