In their annual report, Thomson Reuters has surveyed over 400 European tax teams gaining valuable insight into how corporate tax teams are managing the challenges of the new global digital tax world.
Month: March 2019
Following a meeting between the Deputy Ruler of Dubai and the Federal Tax Authority (FTA), it was announced more than 300,000 businesses have now registered for VAT in the UAE.
The 16% VAT rate currently applicable to general VAT taxpayers will be reduced to 13%, whilst the 13% VAT will be reduced to 9%. Correspondingly, the VAT export refund rates will be respectively reduced from 16% to 13% and from 13% to 9%.
The Italian government are preparing for the worst ahead of the upcoming UK Brexit vote after releasing guidance on the VAT treatment of goods which move within the UK in the case of a no-deal UK Brexit departure on 29th March 2019.
Generating considerable income and being relatively easy to administer, raising revenue through incremental increases in supply chain consumption tax is nothing new.
Watch Gareth Kobrin, CEO of VATGlobal & Abbey Heller, of SAP Concur, discuss the upcoming Making Tax Digital deadline.
This week HMRC published a letter to 145,000 UK businesses who currently trade goods with non-EU countries. The letter outline important changes to customs procedures and VAT for UK-EU trade that will occur if the UK leaves the EU without a deal, which is looking more and more likely.
It was announced this week that the Polish government are planning on enforcing split payments for industries susceptible to VAT fraud, in particular: trading fuel, scrap metal, electronics, precious metals, steel and car parts.