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

Romania to introduce mandatory business to government...

The Romanian tax authorities have confirmed that businesses that sell to government departments will be required to issue e-invoices from 1 July 2022. Since...

SEE MORE
VAT news
LATEST NEWS

New EU e-commerce packages – EU confirms initial...

The European Union (EU) has released statistics showing that the introduction of the EU e-commerce packages in July last year, has been a success. The figures...

SEE MORE
VAT news
LATEST NEWS

Australia raises AUS$760 million in GST after...

The Australian Board of Taxation has announced that since the removal of the Low Value Imported Goods (LVIG) regime in July 2018, it has collected GST on low...

SEE MORE
VAT news

Gated Content

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