9 July 2019
The German tax authorities have recently written to non-EU businesses informing them that they must now declare a specific payment reference with their VAT payments going forward.
This is because of the German tax authorities facing issues in allocating VAT payments received from these types of businesses, which cause delays in updating VAT accounts and often leads to unnecessary administration work in chasing VAT debts that are already paid.
The German tax authorities warn that companies who fail to comply with this new request face penalties because the VAT payments will not immediately be allocated to their VAT account, and this will be the case regardless of whether the payment is made within the deadline.
LATEST NEWS
Belgium approves draft law for near-real-time...
July saw the Belgian Council of Ministers approve a preliminary draft law to introduce near-real-time electronic reporting of certain invoice data to the tax...
SEE MORE
LATEST NEWS
Luxembourg proposes the introduction of electronic...
This month Luxembourg’s Government approved a draft law to introduce mandatory structured business-to-business (B2B) e-invoicing for domestic transactions...
SEE MORE
LATEST NEWS
Germany's action plan signals move toward...
Germany has announced a 26-point “Action Plan” against tax and financial crime, which aims to increase detection risk, strengthen enforcement, and improve...
SEE MORE