5 February 2019
During January 2019, the Czech Republic requested to be the first EU member state to introduce the generalised reverse charge mechanism (GRCM) on domestic supplies undertaken in the country.
The GRCM was introduced by the European Union in an effort to combat VAT fraud and allows EU member states most severely affected by fraud to apply a GRCM to transactions above a value of €17,500. For full detail of how the GRCM works please refer to our previous article here.
LATEST NEWS
Reminder: Finland standard VAT rate increase from...
A reminder that the Finnish standard VAT rate will increase from 24% to 25.5% on 1 September 2024. This increase will make the Finnish standard VAT rate the...
SEE MORE
LATEST NEWS
Estonia to end Covid-related reduced VAT rate cuts...
Estonia will increase the VAT rate on the following supplies from 1 January 2025: Accommodation services from 9% to the 13% reduced VAT rate. Newspapers both...
SEE MORE
LATEST NEWS
South Africa scraps low value import VAT exemption
On 1 September 2024 the South African Revenue Service (SARS) will scrap its current import VAT exemption on low value goods. This import VAT exemption allows...
SEE MORE