European News

Hungary reduced the VAT rate on restaurant services, excluding alcoholic beverages from the standard 27% VAT rate to the 18% reduced rate. The change came into place on 1 January 2017. There is ...Continued

The Israeli tax office has confirmed that trading in bitcoin is subject to 17% VAT. The announcement confirms that virtual currencies, such as bitcoin, are to be regarded as tradable assets and the...Continued

Update 12 Jan 2017: Italy has ratified (Law Decree 193) to introduce extensive new VAT filing requirements from 1 January 2017. Quarterly VAT returns There is a new requirement for quarterly V...Continued

The UK has increased the VAT-free threshold for small packages being imported into the country from outside of the EU. The maximum value of goods is now £39 – previously £34.  The new threshold was in...Continued

France has updated its VAT code for 2017 with a number of changes. Paper-based sales and purchase invoices may now be transferred to digital-only storage instead. The reduced 5.5% VAT rate is ...Continued

The European Commission’s VAT Committee has called for a full imposition of the Skandia tax case. The European Court of Justice case considered whether EU transactions between a foreign bank branch...Continued

Italy has confirmed that the 2016 annual VAT will be due by 27 February 2017. The returns portal will be accepting filings from 1 February 2017. The return has been updated from last year to include t...Continued

Poland has introduced a range of anti-VAT fraud measures from the 1 January 2017. These include VAT registrations are no longer granted automatically as part of a business’ incorporation process ...Continued

From 1 July 2017, all Hungarian VAT registered businesses will be required to electronically live report all B2B sales invoices with VAT above HUF100,000.  Hungarian VAT is currently 27%, so the net  ...Continued

The new 2017 French Finance Law contains a requirement for any business to report within 24 hours any VAT transaction above €863,000. The new requirement is not due to come into force until January...Continued