Our professional and specialized VAT team is always informed with the latest VAT updates and regulations from around the world. Here you will find all you need to know regarding all the latest VAT news and information.
On 29 November 2021, the Slovenian tax authorities clarified the COVID-19 tax relief measures through online FAQs. The FAQs covers questions on which entities are eligible for VAT exemptions on the supply of medical and protective equipment, the applicable period and conditions for the VAT exemptions, the equipment eligible for the exemption, and the reporting and recordkeeping obligations.
On December 1, 2021, the HMRC updated regulations helping customs procedures to operate efficiently and facilitate the movement of goods between the UK and EU. Business importing and exporting goods in and out of mainland Great Britain (England, Scotland and Wales) will be required to go through full customs controls from January 1, 2022.
The legislation includes requirements for new and existing VAT payers to report bank account numbers effective November 15, 2021. It also covers changes to the VAT guarantee, introduction of split VAT payment, as well as new rules for the refunding of excess input tax deductions, and cancellation of VAT Registration Certificates.
Plastic Packaging Tax applies to finished plastic packaging components manufactured in or imported into the UK containing less than 30% recycled plastic when measured by weight. The rate of the tax will be 200 GBP per metric tonne of plastic packaging.
HMRC: The trial for using the Secure Data Exchange Service system (SDES) trial has ended on Nov. 30, 2021. Effective on supplies made on or after 1 January 2021
Following the changes to Poland’s tax regime, the Polish government announced to reduce VAT rates on petrol, gas, heating, and electricity as a response to cushion high growth in inflation. For the period of January-March 2022, the VAT will drop on: gas from 23% to 8%, electricity from 23% to 5%, and district heating from 23% to 8%
Law No. 2105 referred to as the “Polish Order” covers a major tax reform including the introduction of VAT groups; shortening the VAT refund period for non-cash taxpayers to 15 days; and dropping VAT on gas to 8%, electricity to 5%, and district heating to 8%.
New Zealand’s clarification on GST treatment for input deductions: 1) Technical Decision Summary no. 21/05 that was issued on 18 November 2021 where the taxpayer carried on taxable activity entitled for deductions but was rejected by New Zealand’s tax agency. 2) Interpretation Statement no. 21/06 FS 1 posted on 26 November 2021.
House Bill 7425 seeking to amend Section 105 of the NIRC would impose 12% VAT to digital service providers (DSP) that operate through online platforms.
– Invoices in PDF format considered as electronic invoices for tax purposes, must be accepted until 30 June 2022 – The requirement for taxpayers to communicate serial declaration is suspended during 2022 – The extended payment deadlines for the remaining months of 2021 and for 2022 are: