World VAT/GST News May 2018

Russia

The Russian Ministry of Finance has proposed significantly lowering its import VAT and duty exemption threshold for goods imported into the country (“low value consignment relief”).

Currently foreign suppliers can use this relief to import goods with a value under €1,000 VAT and custom duty free. However, if introduced the threshold will be reduced to €500 from 1 July 2018, with a further reduction to €200 on 1 January 2019.

The above information was kindly provided by Fiscal Solutions (UK), www.fiscalsolutions.co.uk; contact: contact@fiscalsolutions.co.uk.

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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.

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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.