The UK's Public Accounts Committee has published its annual report into the performance of the UK tax agency, HM Revenue and Customs (HMRC).
The 18th January 2018 saw the European Commission propose new rules to give Member States more flexibility to set VAT rates and to create a better tax environment to help SMEs growth.
The recently issued Italian Law Decree no. 148/2017 has introduced several changes and amendments to Italian VAT law.
Further to a previous article we are now able to bring you an update on the on the real-time data transmission of invoices being introduced in Hungary on July 1st 2018.
With the planned introduction of the Fulfilment House Due Diligence Scheme (FHDDS) this year, the Chartered Institute of Taxation (CIOT) has put pressure on the government to re-appraise the directive to ensure that businesses who may appear non-compliant through administrative errors are not heavily penalised as a result.
Earlier this week, the European Commission refused to approve a request by Latvia to introduce an anti-VAT fraud domestic reverse charge mechanism, which would have applied to sales of consumer electronics and electrical household appliances.
Following on from last week’s article there have been further developments this week regarding the introduction of a VAT regime in the Gulf Cooperation Council (GCC) countries.
Greece has agreed to keep in place reduced rates of VAT in five Greek islands for a further six months.
The "fair and efficient" taxation of corporate profits and the fight against tax avoidance and evasion through enhanced administrative cooperation are among the priorities of the new Bulgarian presidency of the European Union, which commenced on January 1st 2018.
The Treasury Select Committee will investigate Brexit proposals which would mean UK retailers and manufacturers would have to pay VAT upfront on post-Brexit imports of goods from EU member states.
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