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  • ECJ decision about penalties on reverse charged VAT

    Following the opinion of the advocate general published last November , the ECJ gave its decision in Farkas case (C-564/15) .  This judgement has reduced the powers of Member States to impose penalties on reverse charge transactions that are incorrectly reported. This case is important for non-established companies registered for VAT in other EU countries, as these businesses are often involved in reverse charge transactions.

    In summary, the ECJ position is as follows

    • If a business is charged VAT where it should have received an invoice under the reverse charge mechanism, the tax authorities cannot...

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    By Marosa EU VAT European Union Published 16/05/2017 20:04

    Fiscal representative changes in France

    France has revised the list of non-EU countries not requiring a fiscal representative when their local businesses registered for VAT purposes in France.

    As a general rule, foreign non-EU businesses registering for VAT in France are required to appoint a fiscal representative. This representative is jointly and severally liable for the tax debts of the represented business. There is an exception to this rule for businesses from certain countries listed by the French tax authorities. This list has now been updated and includes the following territories  

    • Argentina
    • Aruba
    • Australia
    • Azerbaijan
    • Curacao...

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    By Marosa EU VAT France Published 16/05/2017 19:56

    Reverse charged import VAT in Finland

    Finland announced the introduction of reverse charged import VAT as from 1 January 2018. This simplification allows businesses to report import VAT in the VAT return as input and output VAT instead of having to pay import VAT to the customs authorities. Reverse charge import VAT is usually referred as ´postponed import VAT accounting´. 

    The changes will bring a significant cash-flow advantage to businesses importing goods in Finland. There will also require changes in the tax administration, as import VAT will be monitored by the tax authorities (Vero) as opposed to the customs authorities...

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    By Marosa EU VAT Finland Published 15/05/2017 17:51

    Icelandic VAT rates reduced

    The Icelandic government announced its intention to reduce the standard VAT rate from 24 to 22.5 from 1 January 2019.

    Ever since the start of the financial crisis in 2007, almost all Member States have opted to increase their VAT rates to compensate the decrease on tax revenues. Iceland opted for this solution as during the financial crisis its standard VAT rated was increased to 25.5 in 2010, and then cut to 24 in 2015.

    Furthermore, tourism services will be charged at the standard VAT rate temporarily in order to help fund a cut in employer taxes.




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    By Marosa EU VAT Iceland Published 15/05/2017 17:39

    Italian statute of limitations reduced

    Following the publication of Manouvrina decree , the statute of limitations for VAT deduction in Italy has been reduced. Going forward, VAT deduction will only by allowed by 30 of April of the following year. This date is the due date for the Annual VAT return, hence a purchase invoice will only be deductible until the last day in which the Annual VAT return for the period in which the invoice was incurred can be submitted.

    Before these changes, the statute of limitations covered a much longer period, as VAT could be deducted until the 31 December of the fourth year following the year in which VAT was incurred.


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    By Marosa EU VAT Italy Published 15/05/2017 17:37
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