Latvia has adopted several amendments to its VAT Act. Included among these amendments are adjustments to the timing of VAT input deductions, adjustments to the section on the deductions of bad debts, and updated references to European Council Regulations. Additional amendments eliminate the exemption for services provided by cooperative societies, and specify that non-Latvian EU businesses do not have to register in Latvia if their only taxable supplies in Latvia are to Allied (NATO) Headquarters. Finally, the amendments update language relating to construction services in the VAT Act, to be consistent with Latvia’s Construction Law. The majority of the amendments take effect June 1, 2017, with a few provisions effective January 1, 2018.
Netherlands: Public Consultation on Proposed VAT Adjustment Rules
The Dutch government has initiated public consultations on new VAT rules that would allow adjustments, simi...
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UK Publishes Additional Guidance for Making Tax Digital Initiative
On Friday, July 13, 2018, HMRC released additional information regarding the Making Tax Digital initiative, which is currently set to go into effect in the United Kingdom on April 1, 2019.
Panama Releases Roadmap for eInvoice
The Ministry of Finance announced on their Twitter account, a Roadmap for the implementation process of the new eInvoicing regime in Panama.
Hungary Publishes Real Time Reporting Regulation
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European Council Clears Way for Italy e-Invoicing Requirement
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UK-EU Draft Withdrawal Agreement Published
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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.
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.
EU Proposes An Interim Tax On Certain Revenue From Digital Activities
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EU Report on E-commerce Identifies Challenges and Opportunities
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South Africa VAT Rate to Increase April 1, 2018
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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...
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.
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.
South Africa Announces 2018 Budget Measures
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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.
UK VAT Tribunal Weighs in on Taxation of Powdered Drinks
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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.
European Commission Proposes Changes to VAT Regime
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Norway Revises SAF-T Mandate Timeline
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Italy Appears Set to Delay VAT Increases Until 2019