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Romania VAT cut to 16% delayed

Romania has delays until 2021 a plan to cut its standard VAT rate from 19% to 16%. This had been planned for Jan 2020....Continued

Spain pre-filled VAT returns pilot 2020

Spain is to launch in 2020 a pilot offering pre-completed, draft VAT returns to larger taxpayers. These will be based on the Spanish SII (Suministro Inmediato de Información) digital invoice reportin...Continued

UK-EU Free Trade Agreement – 2020 Brexit battleground

With the date for the UK to exit the political structures of the EU now set at 31 January 2020, the focus for 2020 will move to the much more challenging phase – negotiating a UK-EU Free Trade Agreeme...Continued

Macedonia VAT lottery Dec 2019

Macedonia has launched a VAT receipt lottery to boost tax revenues. The scheme is designed to encourage consumers to ensure they receive VAT invoices from shops, and therefore reduced the incidence of...Continued

Thailand blockchain VAT refunds

Thailand has launched a blockchain-based VAT refund regime for tourists. The new distributed ledger technology, will also underpins cryptocurrencies, will be used by shops to record retail sales to fo...Continued

UK to leave EU VAT regime 31 Dec 2020

Following UK Conservative national election win yesterday, it looks certain that the UK will push ahead with Withdrawal Agreement (‘WA’) plan to exit the European Union on the 31 January 2020. Under t...Continued

China unites state and local VAT Golden Tax System

China has commenced consolidating its state and local VAT Golden Tax System (GTS). At present, taxpayers must taxes via the Golden System separately for the two tax regimes. It is part of a wider plan...Continued

Greece extends five island discounted VAT rates

Greece has again extended the discounted VAT rates for five islands. The latest roll over of the 30% discount on the Greek VAT rates will apply to 31 December 2020. The subsidy had been scheduled to e...Continued

EU Definitive VAT System reform stalled?

Is the proposal to reform the existing origin-based EU VAT regime for B2B cross-border sales now stalled? The aim of the reform is to tackle the stubborn, multi-billion VAT fraud problem, particularly...Continued

Greece delays e-invoicing into 2020

Greece has postponed the introduction of digital VAT books and e-invoices. The measures to fight VAT fraud were scheduled for 1 January 2020. However, the Ministry of Finance has now indicated that th...Continued