Spain proposes to relax bank rules for VAT credits

31 May 2016

A proposal to drop the requirement for foreign businesses to have a Spanish bank account for the purpose of VAT refunds has been announced by the Spanish government.

The current requirement, which states that companies must have a Spanish bank account to receive these refunds, is deemed as prejudicing the operation of the EU Single Market by placing unnecessary administrative requirements on the free movement of goods and services.

LATEST NEWS

Does a UK e-commerce business need an IOSS...

From 1 July 2021, the EU’s new e-commerce VAT reforms will be introduced allowing sellers to no longer pay import VAT at clearance on low-value consignments...

SEE MORE
LATEST NEWS

Lithuania cuts hospitality VAT to 9% until 31 December...

Lithuania will cut the VAT rate applicable to hospitality, sporting, and cultural services from the standard VAT rate of 21% to the reduced rate of 9%. To...

SEE MORE
LATEST NEWS

Belgium to cut e-book VAT rate from 1 January 2022

From 1 January 2022, the Belgium tax authorities have confirmed that the VAT rate on the sale of e-books, e-manuals, e-newspapers, and e-magazines sold online...

SEE MORE

Gated Content

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