News from IVA members

15 March 2018
Germany – VAT exemption for the management of investment funds

As from 01.01.2018, the new version of sec 4 no 8 lit. h of the German VAT Act applies to the VAT exemption for the management of investment funds. According to this new legal position, the scope of the VAT exemption is broader than it has previously been. In particular, the management of Alternative Investment Funds (AIF) could be subject to changes. The precise limits are, however, currently unclear. Investment fund managers should keep an eye on the implications of the broader VAT exemption on their input VAT deduction.

26 February 2018
Hungary – Real Time Invoice Reporting

As you may know, Hungary plans to introduce a real-time invoice reporting obligation from 1 July 2018. Any Hungarian VAT registered entity that issues invoices with a VAT amount above HUF 100,000 (approx. EUR 320) to another entity VAT registered in Hungary will be required to report these invoices...

26 February 2018
Germany – ECJ: No different VAT rates for a single supply

In its decision of 18.01.2018 in the case Stadium Amster-dam CV – C-463/16, the ECJ decided, that the same VAT rate must be applied to a single supply. A single supply may not be divided, for the purpose of applying both the standard VAT rate and the reduced VAT rate...

26 February 2018
Germany – Customs law – what 2018 will bring

The customs law was slightly amended at the turn of the year. The customs tariff, as well as tariff suspension and tariff quotas were affected by these changes. The amendment to the customs tariff was not only editorial in nature, rather the tariff rates applicable to different products were adjusted/reduced. Further, the formalities for issuing certificates of origin were changed. Both, the APS and CETA now require, in certain cases, the status of a registered exporter (REX)...

23 January 2018
Spain – SII (Immediate Information System)

Although never acknowledged officially, it has been understood that up to 31st December 2017 the Tax Authorities did not intend to apply penalties for the failures in the compliance with the SII obligations.

23 January 2018
Romania – Split VAT

Split VAT system in Romania starting with January 2018

22 January 2018
Germany - VAT Changes around the end of the year 2017/2018

Although the turn of the year 2017/2018 has not resulted in any major VAT changes, some action may, nevertheless, be required. On one hand, certain transitional arrangements expired on 31.12.2107. On the other hand, taxable persons need to act during the course of 2018 in order to ensure that necessary measures and amendments are implemented prior to the expiration of other transitional arrangements on 31.12.2018.

12 December 2017
UK – To extend the scope of joint & several VAT liability for online marketplaces

The UK government has confirmed that from 30 June 2018, in an effort to prevent VAT fraud all UK-based businesses that are involved with fulfilling orders of imported goods for third party businesses will need to apply to join a new approved fulfilment house register.

12 December 2017
Germany – ECJ: Postal address on invoice is sufficient

In its decision of 15.11.2017 in the legal cases Geissel and Butin – C-374/16 and C-375/16, the ECJ held that the address, where the issuer of an invoice carries out its economic activity, does not have to be specified in the invoice for the purpose of input VAT deduction. In the ECJ’s view, it is sufficient that the postal address used in the invoices is an address at which the supplier is contactable. This is a clear rejection by the ECJ of the rather narrow German point of view. The decision is also important as regards the recipient’s address.

12 December 2017
ECOFIN reach an agreement on E-Commerce VAT regime reform

The EU’s Economic and Financial Affairs Council (ECOFIN), which is a council consisting of economic and finance ministers from all EU member states that are responsible for setting economic and taxation policies within the EU, reached an agreement on the proposed 2022 E-Commerce VAT regime reforms.

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News from the Board

IVA Meeting with the Portuguese Tax Authorities

The International VAT Association (IVA), represented by its President, Stephen Dale, and Board Member, Fátima Gouveia, met with the representatives of the Portuguese Secretary of State for Tax Affairs and of the Portuguese VAT Authority on the 9th of July 2019, in Lisbon. The IVA thanked the authorities for meeting with us at short notice.

Download the full Communique soon available.

News from IVA members

Update from the GST Council Meeting – India

In the 35th Meeting of GST Council under the able leadership of Chairperson and Union Finance...

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News from EC

News from Accountancy Europe - July 2019

Johan's latest contribution to Tax Journal on what's been going on recently in Brussels...

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Disclaimer:  The information contained in the present page is general and does not constitute legal advice. Before taking any decision or action on the above information you should take the appropriate professional advice.