The French Tax Authorities have published a new tax bulletin on 6 November 2020, with retroactive effect from 1 November, which affects the way VAT on short term charters is calculated depending on time spent within/outside EU waters. Read more
France: Simplification of formalities related to distance sales (B2C) of excise products from January 1, 2020
Finance Law No. 2019-1479 of December 28, 2019 for 2020 has simplified the formalities relating to distance sales of products subject to excise duty.
This provision covers the sales of excise products already released for consumption in a Member State of the European Union and sent directly or indirectly by a supplier not established in France to be delivered to individuals residing in France (B2C). Read more
How non UK suppliers will account for VAT on sales to English end consumers (B2C) post 31 December 2020: Brexit effects
The UK will opt for a mechanism similar to the One Stop Shop (OSS) coming in on mainland Europe from 1 July 2021, but in the case of the UK this will be introduced when transition period for the UK to exit the European Union ends. Read more
New “Taxes in Europe database”
The EU Commission has just published the new “Taxes in Europe database”, collecting all information on standard, reduced and zero VAT rates on all goods and services in EU Member States.
Read more
Irish VAT rate change to become effective on September 1st
The Irish Government has announced a change to Irish VAT rate under the July Jobs Stimulus Package, a set of measures designed to support businesses.
As part of these measures, there will be a six-month reduction in the standard rate of VAT from 23% to 21%, from 1 September 2020 to 28 February 2021.
Read more
RECENT VAT CHANGES IN CYPRUS
Since the beginning of 2020, some important VAT changes enacted in Cyprus. The main ones are following.
COVID-19 VAT RELATED MEASURES
New measures (“Quick fixes”) effective January 1, 2020 (B2B)
The finance law for 2020 has transposed the so-called “quick fixes” measures provided for by Directive 2018/1910/EU of December 4, 2018 concerning intra-Community traffic in goods between taxable persons (B2B), with effect as of January 1, 2020.
Yacht charter services: calculation of the taxable base
About yacht charters, the ordinary Italian VAT rate for the rent is 22%, but the effective rate is lower due to the particular calculation of the taxable base. Yacht charter services carried out in the territory of the European Union are totally subject to VAT (at the rate of 22%).
Read more
TRA – Tax Representative Alliance Annual Meeting 2019 in Budapest
The TRA Annual Meeting took place at the Sofitel Budapest Chains Bridge on June 7 and 8.
The event was masterfully organized this year by our Board Member Alessandro Farina and his ITL Group team, and saw TRA members participating also to the annual Budapest Business Party. Read more
Reduced VAT rate applicable to the supply of electronic publications in Belgium
Since 1 April 2019, the reduced VAT rate of 6%, which already applies to “printed” books and other publications on physical media as referred in the Royal Decree No. 20, also applies to books and publications which are made available to the reader “by electronic way “. Read more
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