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  • Maltese VAT refunds to SEPA accounts

    Last May the Maltese tax authorities announced that they will no longer repay VAT using cheques. The new system will allow bank transfers into taxpayers´ bank accounts opened in a SEPA country.

    The process will not be automatic. Businesses entitled to a refund will receive a PIN number and instructions via letter to login the system and process the VAT refund application. Once approved, the money will be transferred to the SEPA bank account abroad.

    These changes will simplify VAT refunds and paper work to those businesses filing VAT returns in Malta.

    The process to recover VAT when your VAT return is...

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    By Marosa EU VAT Malta Published 19/06/2017 18:33

    Swiss VAT rates reduced

    Switzerland will reduce VAT rates as from 1 January 2018. Current VAT rates are based on a temporary regime that ends on 31 December 2017, when the new reduced rates will apply.

    These rates are expected to be reduced as follows

    • Standard VAT rate will be reduced from 8 to 7.7
    • VAT rate on accommodation will be reduced from 3.8 to 3.7
    • Reduced VAT rates applicable on foodstuff, water and other basic supplies will remain at 2.5

    These changes may be overturned in the last week of September by a popular vote.

    Switzerland has a unique VAT rate structure in Europe. Swiss standard VAT rates are low but the basket of goods subject...

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    By Marosa EU VAT Switzerland Published 19/06/2017 18:32

    Spain drops the SII due date extension

    The Spanish SII will enter into force on 1 July 2017 for all taxpayers irrespective of individual circumstances.

    Despite unofficial announcements of the Spanish tax authorities, there will be no individual extensions granted to those taxpayers who are late adapting their ERP system to the IT requirements of the Spanish SII. All businesses should start reporting their invoice listings electronically within eight days from the moment the invoice is issued (accounts receivable) or the invoice is booked (accounts payable). As from 2018, this period is reduced to four days.

    Last 26 May the authorities published...

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    By Marosa EU VAT Spain Published 13/06/2017 09:15

    Polish automatic deregistrations


    The Polish tax authorities have de-registered from VAT over 35,000 businesses in the last few months. These changes are part of an anti-VAT fraud initiative that is expected to continue in the coming months.

    If you are VAT registered in Poland, we recommend checking your VAT registration to make sure that you are still actively registered in the authorities’ database. This is important for all businesses often submitting nil VAT returns.

    This initiative from the tax authorities has also triggered new best practices on VAT compliance. In Marosa, we have started submitting nil ESL returns even...

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    By Marosa EU VAT Poland Published 16/05/2017 20:09

    Mandatory electronic VAT returns in Cyprus


    All Cypriot VAT returns must be submitted electronically since 2 May 2017. Prior to these changes, paper VAT returns were still accepted even from non-established companies only registered for VAT purposes in Cyprus.

    If your business is currently submitting paper returns in Cyprus, you should register in the website TaxisNET to get a username and password allowing electronic submission of all future returns. This website also allows to complete electronically additional forms required when your VAT return is in a VAT repayment position. VAT payments, however, are still required as a bank transfer...

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    By Marosa EU VAT Cyprus Published 16/05/2017 20:06
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