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  • Latvian new VAT return and registration changes

    Latvia updated the VAT return form as from the second quarter of 2017 reporting period. Following these changes, a new box has been added to appendix PVN1-I where taxpayers must report local purchases, intra-Community acquisitions from non-VAT registered businesses and certain imports. In addition, new rules were published regarding data requirements in appendix PNV1-III. This appendix includes a listing of all invoices issued and received for an amount above a certain threshold. This threshold has now been reduced from €1,430...
    • By Marosa VAT
    • Published 08/09/2017 13:07
  • Greek reverse charge on IT equipment

    Greek domestic reverse charge has been extended to supplies of IT equipment. Last 1 August 2017 the Greek government amended the current VAT law to introduce reverse charge on supplies of laptops, mobile phones, tablets, game consoles and personal computers. Greece is the latest country in Europe to introduce this widely extended reverse charge on these products. The Directive allows Members States to apply reverse charge on certain products that are often used for carrousel fraud purposes. This type of...
    • By Marosa VAT
    • Published 08/09/2017 13:02
  • FAQ on new VAT return available on Italian authorities’ website

    Following the Italian VAT return changes published recently, the Italian tax authorities published a set of FAQs on their website. These are several questions and answers regarding the preparation of quarterly VAT returns due in Italy as from 2017. We are providing below a summary of the most relevant FAQ answered by the authorities: Obligation to carry forward in Q1 the VAT credit from previous year: Taxpayers have the option to carry forward their VAT credit from previous year by reporting...
    • By Marosa VAT
    • Published 08/09/2017 13:01
  • New split VAT payment mechanism in Romania

    Romania will introduce the split VAT payment regime as from 1 October 2017. This mechanism will be optional until 1 January 2018, when it will become mandatory for all businesses in Romania. What is the split VAT payment mechanism? The split VAT payment is a deviation from the general rules on VAT. Under the usual rules of VAT, the supplier issues an invoice for the net and VAT amount to the customer. The customer will pay the gross amount (net...
    • By Marosa VAT
    • Published 08/09/2017 12:08
  • Poland postpones retails sales tax

    Following the challenges of the European Commisssion, Poland postponed the implementation date of the new Retail Sales Tax to 2019. This initiative consisted on a turnover tax levied on established and non-established businesses in Poland. The applicable rates would increase according to the turnover of each company. Businesses with a turnover below PLN 17 million are not required to pay Polish Retail Sales Tax. This exemption was challenged by the European Commission on the grounds of State Aid rules. The...
    • By Marosa VAT
    • Published 08/09/2017 11:57