Russia considers implementation of split payments for e-service transactions

28 July 2017

In an effort to prevent VAT fraud, Russia is considering introducing a VAT split payments regime on the sales of e-services.

If introduced the split payment procedure would require online market places (such as Amazon and E-bay) to collect the VAT at 18%, which is due on these types of sales, directly from the consumer. The online market place would then pay these VAT amounts directly to the Russian tax authorities before passing the remainder of the sales amount back to the service provider.

LATEST NEWS

Bahrain increases VAT rate to 10%

From 1 January 2022, Bahrain has announced that it will increase its VAT rate from 5% to 10%. This VAT rate increase is being introduced to re-stabilise the...

SEE MORE
LATEST NEWS

UPDATE: Bulgaria extends the VAT rate reduction to 9%...

The Bulgarian tax authorities have confirmed that the VAT rate applicable on the following goods and services will remain at 9% until after the COVID-19...

SEE MORE
LATEST NEWS

New German coalition government announces intention to...

The German government has announced that it intends to implement a mandatory B2B e-invoicing regime in the country.     The new voluntary regime will allow...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.