UK Legislates To Adopt New EU VAT Rules For Vouchers

by Jason Gorringe, Tax-News.com, London

Friday, July 6, 2018

On July 6, 2018, the UK Government issued draft legislation that would transpose new EU value-added tax rules on vouchers into UK law, along with an explanatory memorandum of the changes. 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

UAE Waives VAT On Precious Metals Trading

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, May 3, 2018

The UAE's Cabinet has announced that wholesale trading in gold and diamonds will be made exempt from value-added tax. Read Full Story

UK Updates Missing Trader VAT Fraud Guidance For Traders

by Jason Gorringe, Tax-News.com, London

Thursday, May 3, 2018

In a first update since August 2006, HM Revenue and Customs has redrafted its value-added tax guidance on the due diligence businesses must undertake to ensure they do not engage in transactions with fraudsters. Read Full Story

EU VAT Cooperation Proposals To Be Amended

by Ulrika Lomas, Tax-News.com, Brussels

Friday, April 27, 2018

The European Parliament's Committee on Economic and Monetary Affairs has requested a number of changes to the EU Commission's proposals for enhanced administrative cooperation in value-added tax matters, according to a document released on April 23, 2018. Read Full Story

UK Launches VAT Due Diligence Scheme For Fulfillment Firms

by Jason Gorringe, Tax-News.com, London

Monday, April 2, 2018

The UK Government has opened registration for its Fulfilment House Due Diligence Scheme, which is intended to ensure that fulfillment houses report VAT by online traders based outside the EU. Read Full Story

Australia Consults Taxpayers On Virtual Currency Taxation

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

Monday, March 26, 2018

The Australian Tax Office has launched a new consultation on potential reforms to ease the complexity for taxpayers of complying with their virtual currency tax obligations. Read Full Story

HMRC Changes Position On VAT On Cost-Sharing Groups

by Jason Gorringe, Tax-News.com, London

Thursday, March 22, 2018

The UK tax agency, HM Revenue and Customs, has released new guidance on its policies concerning cost-sharing groups following rulings from the European Court of Justice on their VAT treatment. Read Full Story

UK Updates VAT Guidance For Online Marketplaces

by Jason Gorringe, Tax-News.com, London

Monday, March 19, 2018

HM Revenue and Customs has updated its value-added tax guidance for online marketplaces and for suppliers using them to sell to UK consumers. Read Full Story

Davis Resigns UK To Shorter Brexit Transition Period

by Jason Gorringe, Tax-News.com, London

Friday, March 16, 2018

In an interview with UK state news agency BBC's Newsnight, David Davis, the UK's Brexit negotiator, said the UK would "live with" the December 2020 transition deal being offered by the European Union as part of Brexit, even though the UK had sought the later date of March 2021. Read Full Story

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