A number of VAT compliance changes were introduced at the start of 2015. These include: Cash-based accounting so businesses can pay or charge VAT when their invoices are settled, although this only applies to companies with an annual turnover below HRK 3 million. In order to be more in line with the EU VAT directive,… Read More
The new government has announced a range of VAT reform measures: A proposed new VAT rate on luxury goods (this includes high-value cars, boats, aircraft, helicopters, swimming pools, watches and perfumes). This may not be permitted by the European Union as Member States are normally only permitted a standard and two reduced VAT rates under… Read More
The distance selling registration threshold has changed from LTL 125K to €35K as of 1st January 2015 following the change to the euro as the Lithuanian currency.
From the 1st January 2015 the following VAT rate increases have taken effect: The standard rate increased from 15% to 17% The intermediate rate increased from 12% to 14% The reduced rate increased from 6% to 8% The super-reduced rate remains unchanged at 3%
Air Passenger Duty (“APD”) is a duty of Excise which is levied on the carriage, from a UK airport, of chargeable passengers on chargeable aircraft. It becomes due when a flight with chargeable passengers occurs and is payable by the operator of the aircraft. The Chancellor of the Exchequer has announced in the Autumn Statement… Read More
According to a judgement made by the Austrian Federal Financial court, a CMR document, which is a consignment note that travels with goods being delivered to customers by road within the EU, can be used as evidence for an intra-Community supply even if it is not signed by the recipient of the goods.
A new import VAT scheme is scheduled to be implemented in 2015 and will allow for import VAT postponement for large traders making annual sales above € 6 million. This scheme will allow the importer of the goods to delay the payment of Spanish import VAT until the time of the next VAT return and… Read More
From 1 January 2015, the domestic reverse charge mechanism will be extended to the supply of certain iron and steel products.
The VAT exemption on plastic surgery will be abolished in 2015. Supplies in this sector will be subject to the full 21% standard VAT rate.
The place of supply and install contracts will be amended in Spain. If the installation element is about 15% of the value of the contract then the place of supply will be Spain. This change in treatment means that more non resident contractors will find they have to register for VAT in Spain.