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

UPDATE: Greece makes VAT rate reduction permanent on...

Ministry of Finance has announced that the reduced VAT rate of 13% on public transport, coffee supplies, takeaways, and deliveries of non-alcoholic drinks will...

SEE MORE
VAT news
LATEST NEWS

Latvia to introduce mandatory e-invoicing for B2B and...

Latvia’s Ministry of Finance is proposing to introduce a mandatory electronic invoicing regime for business to business (B2B) and business to government...

SEE MORE
VAT news
LATEST NEWS

Colombia issues changes to Significant Economic...

At the beginning of this year Colombia implemented changes to its Significant Economic Presence (SEP) rules for foreign companies. These rules allow for...

SEE MORE
VAT news

Gated Content

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