Newsletter internazionale:

Indirect Tax News - Issue 3/2017

10 10 2017

Original content provided by BDO

The Romanian VAT split payment mechanism requires that taxable persons and public institutions (whether VAT registered or not) must pay VAT related to their purchases of goods or services into a separate bank account specially opened by the supplier for collection of VAT.

Contents

  • ROMANIA: The VAT split payment mechanism
  • BELGIUM: VAT and the letting of immovable property
  • CHILE: New requirements for claiming VAT credits
  • GERMANY: What VAT rate is applicable for so called “Wiesnbrezn”
  • HUNGARY: Mandatory data disclosure and the use of invoicing programs / Domestic provision regarding late payment interest is not in line with EU law
  • IRELAND: VAT treatment of road tolls and update on business concern over Brexit
  • ISRAEL: Global trade in goods - New age challenges
  • ITALY: Extension of the split payment mechanism
  • JAPAN: Update of consumption tax laws
  • LATVIA: Changes in the VAT law starting 1 January 2018
  • THE NETHERLANDS: To be zero rated or not be zero rated ….. that is the question
  • SERBIA: Draft rulebook regarding keeping VAT records and VAT calculation overview published
  • SINGAPORE: Taxation of cross-border services and low-value goods
  • SPAIN: What to do when the issuer of an incomplete invoice refuses to correct it / Formal requirements contrary to the right of VAT deduction
  • SWITZERLAND: Reduction of VAT rates on 1 January 2018 / Requirement for foreign companies operating in Switzerland to register for VAT from 1 January 2018 and changes to low value consignment relief delayed to 2019
  • UNITED KINGDOM: UK tightens distance selling rules
  • ZIMBABWE: Recent VAT developments in Zimbabwe