EU Drafts Directive To Overhaul VAT Law

by Ulrika Lomas, Tax-News.com, Brussels

Monday, May 28, 2018

In a new proposal for a Council Directive, the European Commission has set out the value-added tax law amendments necessary to bring about massive changes to how VAT functions in the European Union, in particular to simplify compliance obligations for businesses and to make the system less prone to fraud. Read Full Story

EU May Simplify VAT Rules For SMEs Earlier, Starting 2020

by Ulrika Lomas, Tax-News.com, Brussels

Friday, May 11, 2018

The EU's Committee on Economic and Monetary Affairs has recommended that the implementation of proposals to significantly simplify value-added tax compliance obligations for small and medium enterprises should be brought forward to the beginning of 2020. Read Full Story

SARS Sets Out Expectations On Virtual Currency Tax Compliance

by Mary Swire, Tax-News.com, Hong Kong

Friday, April 6, 2018

The South African Revenue Service on April 6, 2018, warned taxpayers that they are expected to declare cryptocurrency gains or losses in calculating their taxable income. Read Full Story

UAE Tax Authority To Waive Late VAT Registration Penalties

Tuesday, March 13, 2018

The UAE's Federal Tax Authority has announced that it will waive late registration penalties for businesses that have not yet registered for VAT, on the condition that they do so by April 30 of this year. Read Full Story

Brexit: EU Explains Tax Impact On Cross-Border Trade

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, February 7, 2018

The EU's Directorate-General for Tax and Customs Union has explained how the UK ceasing to be a member of the European Union will impact the customs and value-added tax rules applying to UK businesses and EU firms trading with the UK. Read Full Story

EU Asks For Small Firms' Input On VAT Reform Plans

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, January 31, 2018

The European Commission has asked for taxpayers' feedback in respect of its proposals to simplify value-added tax compliance for small enterprises, alongside the publication of its proposal for a Council Directive to amend the EU VAT Directive as regards the special scheme for small businesses. Read Full Story

UAE Explains VAT Procedures For Non-Registered Firms

by Lorys Charalambous, Tax-News.com, Cyprus

Tuesday, January 16, 2018

Following the introduction of value-added tax on January 1, 2018, the Federal Tax Authority has clarified the import procedures non-VAT registered businesses should follow. Read Full Story

Having Implemented VAT, Saudi Arabia Moves To Challenge Fraud

by Lorys Charalambous, Tax-News.com, Cyprus

Tuesday, January 2, 2018

Saudi Arabia's tax agency has launched a dedicated application to enable taxpayers to determine if the business they're dealing with is registered for the nation's new value-added tax. Read Full Story

Latvia Approves Lower VAT Registration Threshold From 2018

by Ulrika Lomas, Tax-News.com, Brussels

Friday, December 15, 2017

Latvia is to lower its value-added tax registration threshold from next year. Read Full Story

UAE Releases Executive Regulation On VAT

by Mary Swire, Tax-News.com, Hong Kong

Monday, November 20, 2017

The United Arab Emirates released Regulations setting out key elements of the rules surrounding value-added tax, which will be implemented from January 1, 2018. Read Full Story