Spain VAT compliance measures to tackle fraud
- European News
- 14 October 2012 | Richard Asquith
The key measures include:
- New application of the reverse charge mechanism in the real estate industry. Firstly on the sale of real estate, and secondly on the restoration of properties.
- A new penalty regime for incorrect submissions on importation declarations.
- Application of VAT on the sale of shares of real estate companies.
- Easing of VAT reporting in the case of businesses in administration. In particular eliminating the requirement to maintain pre and post administration VAT records.
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.