Here you will find the latest articles and news in the Tax world. Enjoy your read!
VATUpdate- Webinar - E-Invoicing in Germany: a guide to compliance - Slides & Recorded Session
https://lnkd.in/e7reqGQh
Alex Baulf - #Germany - Big update from the German Tax Authorities today- the guidance on the e-invoicing mandate and what this means in practice on 1 January 2025.
"...it is sufficient if the invoice recipient provides an e-mail mailbox. It is not absolutely necessary that this is a separate e-mail mailbox just for receiving e-invoices. The parties can agree on other permissible transmission methods instead"
"E-invoicing platforms will be important for the exchange of invoice data within the framework of the reporting system to be introduced at a later date"
For XRechnung there is ready Interoperability and a network of service providers to exchange compliant e-invoices via Peppol (will we see German businesses register in next few months?).
Expect ZUGFeRD (hybrid PDF) to be popular vis email or dedicated email inboxes/ file download links/ portals.
https://lnkd.in/gwiuE7e2
#France - DGFIP has announced in a press release that the PPF (the public portal) will now focus on serving as a Directory and to faciliate tax reporting and will not be an option for the actual exchange of e-invoices.
"... the state is fully confident in the ability of the PDPs to guarantee quality, secure services and to offer sufficiently expanded offers to cover the current and future needs of ALL companies"
"... the project will be continued by favouring the construction of a directory of recipients, essential for exchanges between platforms, and a data concentrator allowing them to be transmitted to the tax administration".
This now means that EVERY business in France (c. 4m companies) will need to appoint a PDP - an accredited service provider.
https://lnkd.in/gu6fK2-V
European Council - Taxation: Council agrees on VAT in the digital age package
The Council today reached an agreement on new measures that will bring the EU’s value added tax (VAT) rules into the digital age. With new rules on electronic invoices and real-time data reporting, as well as business carried out through digital platforms, this package of legislation will fight tax fraud, support businesses and promote digitalisation.
The agreement covers three acts – a directive, a regulation and an implementing regulation – which taken together bring about changes to three different aspects of the VAT system. The new rules will:
More info on the European Council website : Taxation: Council agrees on VAT in the digital age package - Consilium
Alex Baulf - The European Commission has launched a web portal this week dedicated to the new VAT regime for SMEs applicable from 1 January 2025.
This provides some great insights on the new rules including some FAQs.
View the web portal here: https://lnkd.in/eTzQBRXa
HMRC - Do you receive income from abroad? 🌍
UK residents will generally be taxed on all foreign income. You may find this income is also taxed in the country in which it arises.
The UK has double taxation agreements with most countries around the world to prevent you paying tax twice. To learn more, watch HMRC's video:
https://lnkd.in/eVcqnPwm
Egypt - Guide on how to get your Unique Identification Number https://www.eta.gov.eg/sites/default/files/2024-09/user_guide_on_how_to_get_the_unique_identification_number.pdf
HMRC - There’s been a lot of speculation about new rules requiring online marketplaces to share certain details with us and what this means for taxpayers.
The reality? There are no changes to tax rules for people who use online marketplaces.
Click below for more information. 👇
https://lnkd.in/d4647ZJf
VATCalc - Whilst Spanish e-invoicing delayed, 2026 certified e-invoicing software obligations go ahead for some; test portal & spec's released https://lnkd.in/e_p-bnVp
KPMG - The Philippines is the latest jurisdiction implementing VAT remote seller rules! 🌍💼
📜 A bill (Republic Act No. 12023) imposing VAT on the cross-border provision of digital services was signed into law on October 2, 2024. The law imposes a 12% VAT on digital services consumed in the Philippines. 💻📲
“Digital services” refer to any service provided over the internet or other electronic networks using information technology when the transaction is essentially automated. 🌐🤖
Nonresident providers of these services are required to register if their gross sales exceed PHP 3 million and to charge and collect VAT for their services made to final consumers (B2C sales). 💸🛒
📅 The law was published on October 3, 2024, and is effective 15 days after publication. However, nonresident providers of digital services will only be subject to VAT after 120 days from the effectivity of the Implementing Rules and Regulations, which need to be issued within 90 days from the law’s effectivity. 📆📝.
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