Value Added Tax

Read the latest in VAT regulatory updates

  • European Council Clears Way for Italy e-Invoicing Requirement

    On April 16, 2018, the European Council approved Italy's derogation request from the EU VAT Directive, bringing Italy one step closer to implementing its mandatory e-Invoicing requirement.

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  • UK-EU Draft Withdrawal Agreement Published

    On March 19, the UK published first draft of a withdrawal agreement, although not finalized, indicates that for value-added and excise taxes, much of the status-quo with the EU will remain until 2021.

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  • UK Finance Act 2018 Finalized

    On March 15, 2018, Finance Act 2018 was granted Royal Assent by the UK Parliament that makes several changes to direct and indirect taxation in the UK.

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  • China to Lower Select VAT Rates on May 1

    At the Executive Meeting of the State Council held on March 28, Premier Li Keqiang announced additional VAT reform measures directed towards easing the overall tax burden for taxpayers.

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  • EU Proposes An Interim Tax On Certain Revenue From Digital Activities

    The European Commission recently proposed new rules to ensure the fair taxation of digital business, placing the EU at the forefront in designing tax laws aimed at the modern digital economy.

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  • EU Report on E-commerce Identifies Challenges and Opportunities

    Report contends that governments must aim to support legitimate trade by making the process as a simple as possible, targeting non-compliant businesses while maintaining reasonable compliance burden.

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  • South Africa VAT Rate to Increase April 1, 2018

    The South African Revenue Service (SARS) has announced that the VAT rate increase from 14% to 15% effective April 1, 2018, is still moving forward.

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  • UK Publishes the Value Added Tax Regulations 2018

    UK VAT-registered businesses will be found non-compliant with VAT reporting obligations after April 1, 2019, if their electronic VAT records are not maintained on functionally compatible software...

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  • UK Publishes VAT Regulations Requirements Pertaining To Digital Record-Keeping

    UK VAT regulation requirements clarify the type of information required to be kept in digital format, the definition of functionally compatible software, and the exemptions available to businesses.

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  • New Mexico Allows for Evidence of Exemption Entitlement Other than a Nontaxable Transaction Certificate

    New Mexico Governor signed House Bill 194 into law thereby allowing purchasers to provide evidence other than a nontaxable transaction certificate to prove eligibility for a gross receipts deduction.

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  • South Africa Announces 2018 Budget Measures

    The South African Ministry of Finance has proposed an increase in the VAT rate from 14% to 15%. If signed by the President this new rate will go into effect on April 1, 2018.

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  • UK Parliament Debates Major Post-Brexit Bill For Cross-Border Supplies of Goods

    The UK Parliament is currently debating a bill that could greatly impact how businesses in the UK handle cross-border supplies of goods post-Brexit.

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  • UK VAT Tribunal Weighs in on Taxation of Powdered Drinks

    Ruling validates tax rule applying varying VAT treatment based on the particular flavours of Nesquik in the UK.

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  • European Commission Backs Italy's E-Invoicing Mandate

    On February 5, 2018, the European Commission backed Italy's e-invoicing mandate by recommending the EU Council approve Italy's derogation request from the EU VAT Directive.

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  • European Commission Proposes Changes to VAT Regime

    On January 18, 2018, the European Commission proposed an overhaul of the European VAT System, building on the 2016 VAT Action Plan.

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  • Norway Revises SAF-T Mandate Timeline

    On December 29, 2017, Norway's Ministry of Finance amended their Bookkeeping Regulations to revise the timeline relating to the mandatory implementation of the Standard Audit File-Tax (SAF-T) mandate.

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  • Italy Appears Set to Delay VAT Increases Until 2019

    Italy's 2018 budget bill will override the previous reduced VAT rate increase of 10% to 11.14%, and will delay an increase in the standard and reduced VAT rates until January 1, 2019.

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  • European Commission Seeks Permanent Minimum VAT Rate

    The European Commission has proposed a Council Directive that would make permanent a minimum standard VAT rate of 15% for all Member States.

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  • Croatia Increasing VAT Registration Threshold Effective January 1, 2018

    The Croatian Parliament has published in the Official Gazette 115/16, changes to Croatia's VAT Act that are effective January 1, 2018.

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  • EU Council Approves Overhaul of VAT System

    The Council of the European Union has adopted a legislative package that will substantially modify Europe's VAT law from 2019, a first step towards enacting the European Commission's 2016 Action Plan.

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