The tax administration of Portugal has issued a new regulation (Portaria 221/2017) that will allow taxpayers to pay the VAT due on imports using Portugal's periodic VAT return. The new measure is expected to enter into effect in two stages: September 1, 2017 for most goods contained in Annex C of the VAT Code (except mineral oils) and March 1, 2018 for the rest of the imported goods. For that purpose, two new fields (40 and 41) have been added to annex R of the periodic return.
European Economic and Social Commission Opinion on VAT Modernization
The European Economic and Social Commission (EESC) published its opinion on three proposals from the Europe...
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Australia to Abolish Tax on Feminine Hygiene Products
The Australian Government is taking steps towards removing the 10% GST that is imposed on feminine hygiene products in Australia.
Bulgaria Changes Intrastat Reporting Thresholds for 2019
The National Statistical Institute of Bulgaria announced Intrastat thresholds for 2019
UK's HMRC Opens The Door For More Making Tax Digital Pilot Program Testing
On October 16, 2018, Her Majesty's Revenue & Customs (HMRC) announced that the previously reserved pilot program for Making Tax Digital (MTD) was expanded to a much larger pool of businesses.
Peru Issues New Regulations Regarding the OSE
The Peruvian Tax Administration (SUNAT) published on October 15, 2018, regulation 242-2018/SUNAT, which establishes some new obligations to the OSEs and also updates the sanctions for non-compliance.
Brazil Contemplating Tax Reform in 2019
The Brazilian Congress is once again considering a series of tax reforms aimed at simplifying its complicated indirect tax system. It proposes to replace with a nationwide VAT.
Mexico: New Tax Reform Plans to Re-establish Reduced VAT Rate at the Border
The Mexican Congress is proposing to re-establish a reduced VAT rate in the border states of Baja California, Baja California Sur, Quintana Roo. The project is being considered at the Mexican Senate.
Mexico Postpones the New CFDI Cancellation Process
After a meeting with the Confederation of Chambers of Commerce and Tourism, the Mexican Tax Administration (SAT) decided to postpone for two months the new process of Cancellation of the CFDI
UK Contemplates Hard Brexit
Her Majesty Revenue and Customs (HMRC) nonetheless is drafting rules and guidance which would come into play should the UK exit the EU as of March 29, 2019.
Venezuela Increases the Standard Rate of the VAT
The congress of Venezuela has enacted Decree 3.584/2018, by which the standard rate of VAT will be increased from 12% to 16%, effective September 1, 2018.
Poland Considers Dropping Periodic VAT Return
There have been rumblings out of the Polish Ministry of Finance that sometime in 2019 the Government may do away with the time-tested requirement of submitting a monthly VAT return.
Argentina Modifies the Invoicing requirement for Small Taxpayers
On August 3, 2018, the federal tax administration of Argentina (AFIP) enacted Resolutions 4290, 4291 and 4292
South Africa Proposes Amendment to Change VAT Rate
South Africa's Minister of Finance has published a draft amendment, which if enacted, would change South Africa's VAT rate back to 14%.
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
On June 1, "Decree No. 2/2018 (1 June) of the Minister of Finance" was published in the Hungarian Gazette regarding the real time reporting regulation. Details follow.
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.
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.
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