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UK curbs VAT Flat Rate Scheme

The UK has announced today that it will curb the use of the Flat Rate Scheme (FRS) to limit potential exploitation. FRS enables very small businesses to only charge a reduced VAT rate (compared to ...Continued

Italy reverse bad debt rule

Italy is to reverse bad debt relief on insolvent debts. In 2016, the Stability Law introduced VAT relief via credit notes on output VAT not collected due to suppliers going bankrupt. The tax author...Continued

Romania cuts VAT to 19% 2017

Romania is still on course to reduce its VAT rate from 20% to 19% from 1 January 2017. This rate cut follows the 2016 reduction from 24% to 20%. Romania originally hiked VAT from 19% to 24% in 2010...Continued

Bulgaria cuts Intrastat thresholds 2017

Bulgaria is to lower the reporting thresholds for Intrastat, the monthly filing of movements of goods between the country and other EU member states. From 1 January 2017 the threshold for arrivals ...Continued

EU advances VAT reform

The European Council has adopted this week a range of recommendations from the European Commission on some of the reforms from the VAT Action Plan. These include: Member states should move tow...Continued

Greek VAT registrations

The Greek tax authorities are to provide directly registered foreign EU entities with new facilities to update their VAT registrations. Since 2013, non-resident companies from other EU member state...Continued

UK exit from EU VAT delayed?

On 3 November, the UK High Court ruled (against the UK government) that the UK Parliament would vote on an Act of Parliament on invoking Article 50 of the Lisbon Treaty - which triggers the start of 2...Continued

Serbia VAT records

From 1 January 2017, VAT registered businesses in Serbia will be required to comply with new record keeping rules. The tax authorities have categorized all invoices and business documentation into ...Continued

Italy VAT warehouses

From April 2017, domestic taxable supplies of goods from VAT warehouses will not require a VAT payment by the customer. Goods introduced to the warehouse via an intra-community supply will be exempted...Continued

Croatia cuts VAT 2018

Croatia is to reduce its standard VAT rate from 25% to 24% from 1 January 2018. In addition, it will combine its existing two reduced rates (5% and 13%) to a single rate of 12%.  Croatia last raise...Continued