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
Tax ruling on real estate at ports and airports
On 10 September 2012, the Belgian Ruling Commission published an interesting tax ruling on real estate situated at airports. It is the first official publication on the subject-matter. The ruling concerns both airport operators, real estate investors and end-users (handlers, forwarders, logistics, etc. …) at airports. In essence the ruling confirms that real estate (old or new,
Belgian VAT changes – Pharma sector
1. Fees paid to ethical committees: same VAT treatment as clinical trials Research work (including but not limited to clinical trials) performed by Belgian doctors and / or hospitals for consideration for Belgian pharmaceutical companies is, as a general rule, subject to Belgian VAT unless the doctor/hospital can apply the VAT exemption for “small businesses”.
VAT Flash: Political agreement – Ecofin Council – B2C
We are happy to announce that the Ecofin Council (“ECOFIN”) reached political agreement on the proposal for a VAT Implementing Regulation as regards the place of supply of services (including B2C 2015) in a meeting in Luxembourg last Friday 21 June. Furthermore, a package of two anti-VAT fraud measures was adopted without discussion: a Quick
VAT on Advance Invoices
Further to a recent answer by the Minister of Finance, Mr. Koen Geens, to a parliamentary question raised by Miss Veerle Wouters, published on 24 of April 2013, the Minister has stated that its administration will soon be publishing the final rules on when Belgian VAT will fall due on, and how companies in Belgium
Guidance from the Belgian VAT Authorities with respect to the new rules on invoicing
Further to our ITX Newsflash of 21 December 2012, we are pleased to inform you that the Belgian VAT authorities have published further guidance on the new invoicing rules. Practice note 2/2013 provides further insight on the changes to the Belgian VAT Code as a result of the Act of 17 December 2012. It combines the explanatory memorandum to the
