Our professionalized 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 VAT news and information.

UNITED KINGDOM: COVID-19 VAT IMPLICATIONS

UNITED KINGDOM – Update 31st March HMRC’s guidance has been updated to confirm that the deferral scheme applies to any UK VAT registration number Source Link here – Channel Islands Jersey Tax Authorities to implement deferrals of payment of goods and service tax The due date for the next VAT filings and payments is 15th April 2020 Source Link hereUNITED KINGDOM – Update 26th March All VAT registered businesses are eligible to defer any VAT return payments that are due to HMRC between 20th March 2020 and 30th June 2020. Return payments can be deferred until the end of the 2020/21 tax year (5th April 2021) The due date of submission for VAT returns during this period (stated above) will remain the same as usual   Source Link hereUNITED KINGDOM – Update 25th March UK Government will defer VAT payments due between 20th March 2020 and 30th June 2020 VAT return periods affected by this measure include quarters or months ending: 29th February 2020 31st March 2020 30th April 2020 31st...

SWEDEN: COVID-19 VAT IMPLICATIONS

SWEDEN – Update 31st March Sweden to introduce deferral of VAT payments (for up to 3 months of VAT payments) The Swedish tax authorities will not impose fees on revised VAT return submissions Source Link hereRelated services:

SPAIN: COVID-19 VAT IMPLICATIONS

SPAIN  ( Canary Islands) – Update 31st March Amendment or de-registration will have a deadline for filing up until 1st June 2020 (if the deadline for filing these declarations takes place during the pandemic) Source Link hereRelated services:

SLOVENIA: COVID-19 VAT IMPLICATIONS

SLOVENIA – Update 31st March Unlike many countries implementing new tax measures, the submission of VAT returns and VAT payment in Slovenia must be completed within regular deadlines Taxable person may apply for a tax deferral as usual Source Link hereRelated services:

SLOVAKIA: COVID-19 VAT IMPLICATIONS

SLOVAKIA – Update 31st March For February through to April there will be a 2 month extension applied to the VAT payment date There will be no penalties on late filings Return filings are postponed by 30 days Source Link hereRelated services:

ROMANIA: COVID-19 VAT IMPLICATIONS

ROMANIA – Update 25th March Initially the Romanian Minister of Finance announced the deferment until the 25th April for the submission, however a different Urgent Government Ordinance has been published The Romanian government maintain the deadline of submission of 25th of March for the VAT return and the ESPL, (30th March for the LSPL). The Government stated that there will be no penalties applied for late payments of amounts due from 21st March 2020. The penalty exemption will be maintained from the date when the Ordinance was issued and it will end 30 days after the ending of the state of emergency. Submission is mandatory, however if there are issues with VAT payments, then the payments after the deadline will not be considered as a late payment Related services:

PORTUGAL: COVID-19 VAT IMPLICATIONS

PORTUGAL – Update 31st March  Decree-Law No. 10-F/2020 was published, including: The flexibility of VAT payments and withholding tax on IRS and IRC, to be fulfilled in Q2 of 2020 Deferred payment of contributions due by employers and self-employed persons The application to the ongoing benefit plans in the Tax and Customs Authority (TA) and social security (SS) of the regime provided for in Article 7(1) of Law No. 1-A/2020 of 19th March The suspension of tax enforcement proceedings initiated by the TA and the enforcement procedures for social security debts until 30th June 2020, if the regime approved in Article 7(1) of Law No. 1-A/2020 of 19 March ceases at an earlier date Source Link hereRelated services:

Poland – one bank account for PIT, CIT and VAT

As of 1 January 2020 in Poland a new individual tax account came into existence called “micro-account” which will be used to settle the tax liabilities from PIT (Personal Income Tax), CIT (Corporate Income Tax) and VAT. Each individual with NIP or PESEL number needs...

read more

Canary Island Budget 2020 (General Indirect Tax)

The Canary Islands Budget 2020 is effective from 1 January 2020. Here is a list of changes that took place in the 2020 budget IGIC (Canary Islands General Indirect Tax) The general tax rate has been increased from 6.5 % to 7 % The increased rate has been raised to...

read more

VAT on Digital Services 2020

The Digital Economy is changing the landscape of international taxation and countries around the world are trying keep up with the new challenges. An increasing number of countries are taxing VAT or GST on digital services supplied from abroad to consumers. 2020...

read more