European News

Hungary has dropped plans to require live invoice reporting until July 2018. The requirement had been for the submission of XML-based details of invoices with sales VAT above HUF100,000 (about €300...Continued

Spain has this week gazetted (15 May) the requirements for large businesses to submit regular e-submissions of sales and purchase invoices.  SII will become live on 1 July 2017. SII (Suministro Inm...Continued

Poland is considering and amendment to the VAT Act,  introducing a voluntary B2B VAT split payments regime from 2018.  The measure, which includes customers paying VAT to a special, locked bank accoun...Continued

Finland has issued proposals to update its import VAT deferment scheme this month.  The changes include: Importers must report the import VAT due in the same month as the import For VAT-regist...Continued

The Russian Finance department has confirmed that it intends to raise VAT from 18% to 22% on 1 January 2019.  The rise will help fund an cut to the employees tax rate to 22% from 30%. The Russian g...Continued

The 2018 Hungarian budget bill has proposed reducing the VAT on internet access and catering services from 18% and 27% respectively, to 5%. The bill is expected to be voted on in mid-June....Continued

A key EU Parliamentary committee has voted to back the European Commission proposals to reduce VAT on electronic books to the same rates as their paper equivalent. The Economic and Monetary Affairs...Continued

Last week’s announcement of a 8th June general election caught the whole country by surprise, adding to the general Brexit-fuelled political and business insecurity.  This fallout from the announcment...Continued

Both the governing Conservatives and main opposition Labour party today ruled out future rises in VAT ahead of June’s election. The UK has enjoyed a dwindling government deficit since the 10%+ of t...Continued

An estimated 35,755* UK micro-business selling over the internet into Europe face being drawn into the EU VAT net for the first-time following Brexit.  Costs to meet this new requirement could reach €...Continued