The Kingdom of Saudi Arabia have amended their VAT laws by removing the requirement for foreign VAT-registered businesses to appoint a local fiscal representative.
As found in our Reporting Obligations & VAT Guides section, Intrastat reporting is a monthly obligation for companies who move goods across borders in the EU and are subject to varying value thresholds depending on the country involved.
The UK Treasury, HMRC, have put forward legislation to increase VAT for home solar-power systems from 5% to 20%, ironically on the same day that MPs have been debating the government’s new net zero carbon target for 2050.
The Netherlands and France have joined forces in attempts to convince other European countries to end the current tax exemptions on jet fuel and plane tickets, as part of an ongoing drive to make the EU carbon neutral by 2050.
The Polish Ministry of Finance has again delayed the introduction of SAF-T (Standard Audit File for Tax), which was agreed back in November 2018 to replace the existing VAT laws in the country.
The Prime Minister of Greece, Alexis Tsipras, has confirmed the Greek parliament have approved his proposal to reduce the rate of VAT across various sectors in the country as previously stated here.
HMRC have announced a new initiative and are applying new rules where the recipient of certain construction services will now be responsible for accounting for VAT, rather than the supplier.
A Fiscal representative is a type of VAT agent who is responsible for the VAT compliance of its clients such as VAT records, filings and VAT payments.
The MP for Rhondda, Chris Bryant, has called for the UK government to scrap the VAT applied to products such as sunscreen which are over SPF-30, in a push to encourage more people to use the cream.
In order to facilitate common defence efforts and to align with the EU’s Common Security & Defence Policy (CSDP), the European Commission has accepted a proposal to exempt certain supplies to the armed forces from Value Added Tax (VAT) and other excise duties.