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Hungary cuts restaurant VAT to 18%

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

Israel levies VAT on bitcoin

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

Italian VAT filings changes

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

UK VAT free allowance on small value packages

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

French VAT 2017 changes

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

EU pushes for Skandia implementation

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 annual VAT return due Feb 2017

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 VAT fraud measures

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

Hungary live invoice reporting July 2017

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

France high-value VAT live reporting

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