Accordance

Luxembourg – VAT rates to remain unchanged

accadmin — Wed, 16 May 2012 08:35:53 +0000

The Prime Minister of Luxembourg has declared that the VAT rates in Luxembourg will remain unchanged during this legislative period (thought to be the end of 2014). The current VAT rates are 3%, 6%, 12% and 15%.

Luxembourg – VAT rates to remain unchanged

Latvia – VAT Increase Proposal

accadmin — Fri, 11 May 2012 09:07:59 +0000

The Latvian Finance Minister, Andris Vilks, has announced a proposal to decrease the VAT rate to 21% (by one percentage point) starting from 1st July 2012.

At this time, the Vat rate change is in the proposal stage only, and we will update you if the decrease is approved and goes ahead.

Latvia – VAT Increase Proposal

UK – Intrastat Declarations Reminder

accadmin — Wed, 09 May 2012 14:02:59 +0000

HMRC have issued a reminder about changes to Intrastat declarations from 1st April 2012.

From 1s April 2012 Intrastat declarations must be submitted by the 21st day of the month following the month in which there are declarations. So for March 2012 Intrastat declarations the declaration must be submitted by 21st April.

Also from 1st April HMRC will not accept Intrastat declarations on paper forms. Declarations must be made electronically.

The current Intrastat exemption thresholds are £600,000 for arrivals and £250,000 for dispatches.

UK – Intrastat Declarations Reminder

Spain – VAT Rate Increase

accadmin — Tue, 01 May 2012 11:03:18 +0000

Economy Minister Luis de Guindos has announced that Spain will increase VAT rate and other indirect taxes in 2013, as part of their austerity measures, in order to raise 8 billion Euros.

There has been no official announcement as to what the increase will be; we will provide further details when more information is known.

Spain – VAT Rate Increase

The Netherlands – VAT rate change

accadmin — Mon, 30 Apr 2012 10:59:20 +0000

The Netherlands Parliament has announced a new package of austerity proposals to take effect from 1st October 2012. The VAT measures include an increase in the standard rate of VAT to 21% (from 19%).

Also from 1st October 2012 the VAT rate on theatre and concert tickets and solar panels will be reduced from 19% to 6%.

Taxpayers need to think about system changes that will be necessary to effect the rate changes.

The Netherlands – VAT rate change

Webinar – Cross-border VAT for Accountants

accadmin — Fri, 20 Apr 2012 11:05:03 +0000

As an accountancy firm, you may get clients coming to you with their VAT issues. You may be happy and perfectly able to deal with their domestic VAT but what happens if your client has a foreign VAT concern when they begin to trade internationally as they expand?

Accordance answers the top 10 FAQs that relate to international, and more importantly cross-border, VAT.

Title: Cross-Border VAT for Accountants
Date: Thursday, May 3, 2012
Time: 12:00 PM – 12:45 PM BST

Space is limited.
Reserve your Webinar seat now at:
https://www4.gotomeeting.com/register/171591983

Webinar – Cross-border VAT for Accountants

Italy: Tax Authorities to Deregister Businesses Not Trading

accadmin — Wed, 18 Apr 2012 08:27:06 +0000

The Italian Tax Authorities have announced that they will be contacting taxpayers who no longer meet the VAT registration criteria and have failed to deregister. That is taxable persons who have not carried out business activities over the last three years or who have not filed VAT returns over the last three years.

The authorities have announced that they may levy penalties where appropriate.

Italy: Tax Authorities to Deregister Businesses Not Trading

Romania – VAT Registration Threshold Exemption

accadmin — Wed, 11 Apr 2012 10:23:59 +0000

The EU Commission has authorised Romania to exempt from VAT established persons whose taxable turnover is less that EUR 65,000. The measure will apply until 31st December 2014.

The threshold for non-established taxable persons is nil.

Romania – VAT Registration Threshold Exemption

Cyrpus – Zero Rate of VAT extended

accadmin — Wed, 11 Apr 2012 10:16:12 +0000

The Cypriot Ministry of Finance has announced that the zero rate of VAT will apply to the supply of services for the construction, alteration, demolition and maintenance of buildings and civil engineering work. The provisions are applicable from 9th March 2012.

Cyrpus – Zero Rate of VAT extended

Italy – Time of Supply of International Services Changes

accadmin — Tue, 10 Apr 2012 14:44:03 +0000

The time of supply of international services has changed from the date of payment to the date of completion of the service. This change is effective from 17th March 2012. This change is to bring Italian VAT law into line with the VAT Directive.

For continuous supplies of services the tax point remains the date of payment.

Italy – Time of Supply of International Services Changes