The Latest from VAT Live

Puerto Rico reviews e-services VAT

19 August 2017 | 7:20 am

Puerto Rico is considering introducing 15% VAT on the provision of electronic services, including streaming/downloads of games, music etc, e-books, online software, apps and member websites.  This would include foreign providers of such services, including iTunes, Google Play, Netflix, HBO and Spotify. Puerto Rico has struggled to manage its state deficit, and has attempted to replace …

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U.S. amnesty offers ‘clean slate’ for missed sales tax

17 August 2017 | 8:00 am

European businesses have until 21st October to decide if they wish to take advantage of America’s MTC sales tax amnesty The 17th August 2017 marks the start of America’s MTC (multi state tax commission) sales tax amnesty. Sales tax is the U.S. equivalent of VAT – the money that must be remitted to the appropriate …

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UAE VAT laws available Sept 2017

15 August 2017 | 3:11 pm

The United Arab Emirates (UAE) Federal Tax Authority plans to issue the 2018 UAE VAT laws and excise laws by the end of September 2017. The implementation date for 5% VAT is 1 January 2018. It is estimated that over 350,000 businesses will have to VAT register in the UAE.  There is a VAT registration …

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How does cross-border taxation impact luxury retailers?

14 August 2017 | 3:08 pm

The advent of eCommerce has made goods more accessible and, combined with cheaper, quicker shipping options, more luxury brands are shipping cross-border than ever before. Regardless of the product, the appeal of reaching international markets is a temptation most retailers can’t ignore. But in the rush to expand, many retailers often don’t understand the VAT, …

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UK Sports Direct wins right to EU VAT appeal

13 August 2017 | 8:18 pm

On 11 August 2017, UK retailer, Sports Direct, won an appeal ruling on HMRC’s position that it owes millions to dozens of EU tax authorities for VAT for online sales to consumers. However, an request by Sports Direct to refer the case to the European Court of Justice (ECJ) was turned down. Avoiding higher EU VAT rates and …

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Kuwait approves VAT and excise draft laws

12 August 2017 | 2:00 pm

Kuwait has accepted this week draft implementation laws from the Gulf Cooperation Council (GCC) for new VAT and excise taxes. Kuwait is one of the six member states of the GCC, all of which are planning to introduce 5% VAT over the next year.  Only Saudi Arabia and the UAE are likely to launch on 1 Jan 2018. …

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Taiwan B2C foreign e-services

11 August 2017 | 8:20 pm

Taiwan has confirmed that the Value Added Tax registration threshold for non-resident suppliers of electronic services to consumers is Taiwanese $480,000 per annum. Since 1 May 2017, foreign providers have been required to charge VAT at 5% on the provision to non-VAT registered buyers of online games, videos, music, e-books, newspapers/journals, apps, membership websites, software …

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Romania VAT registration changes

10 August 2017 | 8:25 pm

The Romanian Tax Code is to be updated from 1 October 2017 to give new powers to the tax authorities on the issuances and withdrawal of VAT registration numbers.  The authorities will now control the right to register businesses based on their due diligence of the applicant and their plans to trade. The changes apply …

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Puerto Rico Sales and Use Tax

9 August 2017 | 8:28 pm

Following last year’s abandoned attempt to introduce Value Added Tax, Puerto Rico has implemented reforms to establish another effort as it seeks to stabilise its poor fiscal position. The Legislative assembly is now considering the phased withdrawal of the existing Impuesto a las Ventas y Uso tax.  This sales and use tax on B2B sales …

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Romania VAT split payments 2018

6 August 2017 | 5:24 pm

Romania has published draft laws to introduce anti-VAT fraud split payments on a compulsory basis from 1 October 2017 – although the Prime Minister has indicated the date will be 1 January 2018.  Romania may launch on a voluntary basis before the end of 2017. Split payments divide the amount payable on taxable sales invoices between the net amount …

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