Brexit: UK trade agreements with non-EU countries

As things stand, the UK is due to leave the European Union on 31 October 2019 at 23:00 GMT. This means that after this date and under a no deal Brexit scenario, all trade agreements the UK is part of as an EU member states will no longer apply. Therefore HMRC is back...

European Commission releases VAT Table Reforms

The European Commission has released a table with all VAT reforms announced, legislated and implemented during 2018 that were not published in the last year’s report (1). Below you will find a summary of all the VAT related reforms for each EU Member State. Belgium...

Poland: Split Payment mandatory from 1 November 2019

Polish Parliament has approved the mandatory Split Payment Mechanism and it will come into force November 1, 2019. After being postponed earlier this year from July to September, the SEJM had voted in favor and passed the measure (1). The Split Payment Mechanism is...

Croatia to reduce standard VAT rate in 2020

Last Friday, July 26, 2019, the Prime Minister of Croatia Andrej Plenkovic and the Finance Minister Zdravko Maric, presented the latest tax reforms, among which there are some VAT rate cuts, which would reduce tax burden by HRK 3.75 billion (EUR 500 million...

Romania to reduce VAT rate in 2020

The Romanian Senate has received a legislative proposal on Junes 27, 2019, which states the intention to reduce the standard VAT rate in 2020 (1), which by the way, would be the lowest rate in the EU. If the Senate approves the measure, from January 1, 2020, the...