Directive proposal for a common EU standard VAT return
We are pleased to inform you that the European Commission adopted the proposal for a Directive introducing a standard VAT return. The adopted proposal is based on the PwC expert study on the feasibility and impact of a standard VAT return, published on the website of the European Commission and being referred to in the proposal
Transitional regime extended for the year 2014 & Opening of infrindgement procedure against Italy
Belgian VAT Tax point rules: extension of the transitional regime by one year Based on the implementation of the Invoicing Directive 2010/45/EU in Belgium, the issuance of an invoice prior to a taxable event is no longer considered as a tax point for Belgian VAT purposes as of 1st January 2013. As a result thereof,
All lawyer fees subject to VAT as of 1 January 2014 – New practice note published
The Act of 30 July 2013 (NL/FR) confirmed the removal of the Belgian VAT exemption for services of lawyers with effect from 1 January 2014. As a result, VAT has to be applied to all fees and costs charged for lawyer services rendered as of 1 January 2014. To do so, in principle, all Belgian-based
Intra-Community supplies – required proof for VAT exemption
The application of the VAT exemption for intra-Community supplies is, among other things, subject to the provision by the supplier of the VAT identification number of his customer. However, following the CJEU case VSTR (C-587/10), the Belgian VAT authorities have adjusted their point of view and decided that the grant of the VAT exemption cannot
Recent VAT developments in Italy & Germany
Italy: Increase in the standard VAT rate from 21% to 22% As from 1st October 2013, the standard VAT rate in Italy has increased from 21% to 22%. The new VAT rate of 22% is applicable to transactions for which the tax point occurs as of 1st October 2013. Transactions for which the tax point
Global tax accounting October – December 2012
Accounting and reporting related updates Hedge accounting Revenue recognition Unrealised losses on debt instruments Netherlands audit rotation Recent and upcoming major tax law changes and the tax accounting implications Some tax rate changes Other important considerations in tax law changes Tax accounting refresher Outside basis differences Download the pdf: Global tax accounting October – December 2012
New FAQ on company cars published on the tax authorities’ web site
Context When a company car is put at the disposal of an employee, its private use triggers taxation as a benefit in kind (BIK). Private use includes all uses other than the business use. In other words, private use refers to use during evenings, weekends and holidays as well as commuting between home and
