30 July 2018
The UK tax authorities have published a proposal for a change in the Value Added Tax (VAT) treatment of vouchers. This will affect retailers with promotional or loyalty programs and if accepted the new legislation will be introduced from 1 January 2019.
The UK proposal follows the EU Voucher Directive which will take effect from 1 January 2019 and will harmonise the VAT treatment of vouchers across the EU. Our previous article from July 2016 gives further explanation of how this will work.
LATEST NEWS
E-invoicing hub
Navigating complexity and preparing for the digitalisation of VAT and the future of tax Following compromises and modifications to the original proposal, the...
SEE MORE
LATEST NEWS
EU finance ministers agree to introduce new customs...
In November, the Economic and Financial Affairs Council (ECOFIN) agreed to introduce a customs charge on low-value parcels valued below €150. The charge...
SEE MORE
LATEST NEWS
UPDATE: Swiss government confirms likely delay for the...
The Swiss tax authorities have confirmed that the increase in the standard VAT rate from 8.1% to 8.8% will now be postponed until 2028. This VAT rate increase...
SEE MORE