Proposed legislation for taxation of digital services

A bill (HB No. 7425) pending in the lower house would address the taxation of digital services and transactions. The current value added tax (VAT) law does not specifically mention online or electronic transactions. The bill would introduce amendments imposing VAT at...

VAT refunds to overseas shoppers to go post-Brexit

The Treasury has signalled the government will end VAT refunds on purchases made by overseas visitors on 31 December, when the UK leaves the EU, despite claims from the travel and luxury goods sector that this will harm tourism Following a consultation on duty-free...

Brexit: The transitional period will end in 100 days

1 Background On 1 February 2020, the United Kingdom (UK) politically ceased to be a member of the EU. In order to mitigate the exit for the economies of both the EU and the UK, a transitional period expiring on 31 December 2020 was agreed. For the duration of the...

EUROPE: Online trading with the UK after Brexit

The global economy is increasingly shaped by digital innovations. There is a clear shift from traditional forms of consumer retail to online shops and platforms. The impact of the coronavirus and government responses such as lock-downs and quarantines, have reinforced...