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UAE - VAT Invoice Exchange Rate Guidance

Following a further clarification by the UAE Federal Tax Authority (FTA) it is possible that a number of businesses may need to reissue tax invoices for payments received in foreign currency.

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UK - Making Tax Digital Update

HMRC have provided updates in the last week on the progress of the implementation of Making Tax Digital (MTD) on 1 April 2019. This includes the news that 35 software suppliers have said they will have software ready during the first phase of the pilot, during which HMRC is testing the service with small numbers of invited businesses and agents

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ECOFIN - 13/07/18

13 July 2018 saw the latest EU Economic and Financial Affairs Council (ECOFIN) meeting take place in which two VAT-related proposals were discussed. Those being the VAT reverse charge mechanism and reduced VAT for e-publications.  

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Malaysia - SST Implementation

Further to a previous bulletin we can bring you news that the official reintroduction of the Sales and Services tax (SST) in Malaysia has been announced by Finance minister Lim Guan Eng, who has confirmed the SST Bill will be passed in parliament in August.

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EU and Germany - VAT Refund Opinion

In the latest infringements package published by the European Commission on 19 July 2018 it was announced that they have sent a reasoned opinion to Germany asking it to bring its VAT refund rules into line with EU legislation (VAT DirectiveCouncil Directive 2006/112/EC and the Refund Directive Council Directive 2008/9/EC).

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EU and Austria - VAT Deduction Derogation

The European Commission has issued a proposal for a Council Implementing Decision amending Implementing Decision 2009/1013/EU, authorising Austria to continue to apply a measure derogating from Articles 168 and 168a of Directive 2006/112/EC on the common system of VAT. The current derogation ends in December 2018 and Austria has requested an extension to the end of 2021.

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Switzerland - RTV Corporate Fee Due

From 1 January 2019, with the introduction of the new Radio and Television Law, the Radio and Television corporate fee (RTV) will no longer be dependent on whether or not a taxpayer possesses a broadcasting device.

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UK - EU VAT Rules for Vouchers

The UK Government has issued draft legislation that would transpose new EU VAT rules on vouchers into UK law, along with an explanatory memorandum of the changes.

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Mexico - Reduced Border VAT

Mexico’s next government look likely to go ahead with president-elect Andres Manuel Lopez Obrador’s plan to cut the VAT rate in a strip along the U.S. border, probably to 8% from the current 16%.

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USA - Alabama Sales Tax Nexus

The consequences of the recent Supreme Court decision on physical nexus for online sellers are already being felt with the news that the state of Alabama will start collecting online sales taxes on 1 Oct 2018.

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