UK – MTD UPDATE: Lords Request MTD Delay

The House of Lords, which is the Upper House of UK Parliament, have called for a minimum of 1-year delay to the implementation of Making Tax Digital (MTD). They claim that HMRC have neglected their responsibility to small businesses and that the costs to implement the new system will exceed those outlined in HMRC’s impact… Read More

Poland to cut VAT on e-books to 5%

From 1 April 2019, Poland will cut the VAT rate applicable on e-books to 5% from 23%. This follows the EU Councils proposal to allow EU member states to cut rates on electronic publications to match their printed equivalents, please click here for the full article.

Malaysia to apply SST on digital imports

From 1 January 2019, the Malaysian tax authorities confirmed that it will amend its current Sales and Service Tax (SST) legislation in order to apply SST to online services supplied by non-resident (foreign) companies. At present, foreign businesses providing digital services in Malaysia do not have to charge VAT on their sales. However, in an… Read More

Malta to harmonise VAT rate on digital books and online journals at 5%

From 1 January 2019, Malta is to harmonise its VAT rate on digital books and online journals with their reduced-rated paper equivalents at 5%. This follows the EU Councils proposal to allow EU member states to cut rates on electronic publications to match their printed equivalents, please click here for the full article.

Germany new decree for call-off stock

From 1 January 2019, the German Ministry of Finance will allow foreign companies holding call-off stock in Germany to avoid VAT registering in the country. Call-off stocks are goods held in a country by a non-resident seller that are under the full control of one of their customers. These goods can then only be used… Read More

EU commission take action against split payment regime in Romania

The European Commission (EC) recently sent a letter of formal notice to Romania requesting that they withdraw the new value added tax (VAT) split payment regime introduced in January 2018. Currently, the split payment procedure requires Romanian VAT registered businesses with an overdue VAT debt to open special, secure bank accounts which are specifically used… Read More

Slovakia hotel VAT cut to 10%

From 1 January 2019, Slovakia will reduce the VAT rate for hotels and similar accommodation services from 20% to 10%. This decrease is aimed at boosting the tourism sector and mirrors the VAT subsidies that most EU countries give to their travel and hospitality sectors.

Fiscal Solutions to release compliant MTD solution in 2019

In preparation for MTD, Fiscal Solutions will release its very own HMRC approved MTD compliant bridging solution at the beginning of 2019. This cloud-based solution is easy to use, competitively priced and will enable businesses to meet the demands of MTD in order to submit their UK VAT returns after the potential April 2019 deadline…. Read More