VAT Tax Evasion. Measures undertaken by the Portuguese Government. The Brussels Tax Forum th of November, 2013
|
|
- Estella Hodges
- 6 years ago
- Views:
Transcription
1 VAT Tax Evasion Measures undertaken by the Portuguese Government The Brussels Tax Forum th of November, 2013
2 Agenda European context Measures undertaken by the Portuguese Government to curb tax fraud and evasion Results of VAT monitoring database
3 European context
4 European context European efforts to fight tax fraud and evasion Action Plan Areas of Member-State cooperation Exchange of Information EU legal framework and instruments Global promotion of good governance Specific legal framework Financial support within the Fiscalis 2020 program Automatic exchange of information mechanisms EU wide electronic exchange of information formats Savings directive Agreements with Switzerland, Liechtenstein, Monaco, Andorra and San Marino Administrative cooperation on direct taxation (2015) Administrative cooperation on VAT (2012) Mutual assistance on tax collection Leadership regarding the promotion of international tax good governance International automatic exchange of information Assistance to developing countries Integration of EU information systems with other international systems. VAT quick reaction directives Commission action plan
5 European context European efforts to fight tax fraud and evasion Action Plan National recommendations Apply specific recommendations made to each Member- State Develop strategies with other Member-States to increase efforts against tax evasion What should be done at a national level Increase the scope of use of third party information Pre-filing of tax returns Efforts to reduce weight of shadow economy Apply Commission recommendations regarding tax havens
6 European context European efforts to fight tax fraud and evasion Study on alternative methods for improving collection of VAT VAT compliance issues VAT legal framework is being abusively used to allow situations of tax evasion and fraud Alternative methods of VAT collection Analysis of various assessment and control methods In depth analysis is made of 4 alternative models Green paper made by Commission COM issues a report (Dec2010) on the future of VAT All 4 methods have a positive cost-benefit ratio, although the cost of implementation of the methods varies
7 European context European efforts to fight tax fraud and evasion Study on alternative methods for improving collection of VAT Model 1 Split payment model 2 Central monitoring database model Description Bank splits the payment The taxable amount is paid to the supplier The VAT amount transferred directly to the tax authority Invoice data is sent in real time to a central VAT monitoring database. In favour Against Eliminates missing trader fraud Substantial changes in the way all businesses and tax administrations handle VAT Faster information; possible abolishment of VAT obligations More effective if e-invoicing is used for all B2B transactions. Costs of implementing system Data management Protection of confidential personal data.
8 European context European efforts to fight tax fraud and evasion Study on alternative methods for improving collection of VAT Model 3 Data warehouse model 4 Certified taxable person model Description Company uploads predefined transaction data into a secure VAT data warehouse Company maintains the database and accessible to the tax authority VAT compliance process and internal controls are certified. In favour This model allows quicker detection of missing trader fraud Increase trust between tax authorities and taxpayers. Against Does not prevent missing trader fraud; if the trader goes missing, VAT data warehouse disappears too Time-consuming Requires substantial investment by tax authorities in human resources.
9 Measures undertaken by the Portuguese Government to curb tax fraud and evasion
10 Measures undertaken by the Portuguese Government to curb tax fraud and evasion Implementation of Green paper - VAT measures Model 3 - Implementation of the Standard Auditing File system Measure OECD recommendation implemented in 2009 Computer file that allows the easy export of a predefined set of accounting records [SAF-T (PT)]. Scope Corporate income tax (CIT) taxpayers VAT taxpayers with turnovers above Objective Easier for taxpayers to provide their electronic records Easier for auditors to review accounting records. Advantages SAF-T provides tool to meet the requirements of other Government or Non-Government bodies Easier to switch from one accounting package to another
11 Measures undertaken by the Portuguese Government to curb tax fraud and evasion Implementation of Green paper - VAT measures Model 4 Certified Invoicing Software Measure All invoicing software be previously certified by the tax authorities Scope Corporate income tax (CIT) taxpayers VAT taxpayers with turnovers above Objective Information contained in the SAF-T file is accurate Reduce the risk of non registration of taxable transactions Advantages Standard for invoicing software with full integration with SAF-T Not time/resource consuming
12 Measures undertaken by the Portuguese Government to curb tax fraud and evasion Implementation of Green paper - VAT measures Model 2 Central VAT monitoring database Measure All taxpayers to communicate in real time (or via a monthly export from the SAF-T file) all invoices issued Scope All corporate income tax (CIT) taxpayers VAT taxpayers with turnover above send invoice information electronically (remaining have a simplified regime) Objective Tax authorities receive invoicing information as soon as possible, reducing risk of VAT fraud and evasion, namely through missing trader practices Advantages Reduces costs for taxpayers and tax authorities Certification of invoice software ensures compatibility Information filters avoids reception of personal/private information
13 Measures undertaken by the Portuguese Government to curb tax fraud and evasion Implementation of Green paper - VAT measures Two additional measures to improve Central VAT monitoring database effectiveness Mandatory invoices Tax benefit for requesting invoices Measure All VAT taxable transactions must be documented by an invoice, Invoice issued entitled to a 15% refund of VAT paid against PIT assessed in the following year (up to 250 per household). Scope All VAT taxpayers, regardless of turnover (some small exceptions apply) Incentive covers restaurants, hotels, car repairs and hairdressers. Objective Ensure that all transactions are properly invoiced Information is sent to the tax authorities Increase incentive of asking for an invoice in hard-to-tax sectors Advantages Change of cultural behavior Consumers can control businesses
14 Main results achieved
15 Main results achieved The VAT reform has been considered a success, due to the implementation of the central monitoring database model (1/2): The cost for the tax authority was lower than expected, The cost for taxpayers was limited, as the system uses already existing electronic standards The system has had an expressive positive impact on VAT revenue, especially in the hard to tax sectors covered by the tax incentive Detection of thousands of situations involving errors in tax returns regarding deductible VAT
16 Main results achieved The VAT reform has been considered a success, due to the implementation of the central monitoring database model (2/2): Over 3,1 Bi invoices sent to the tax authorities (360 M per month) - over 540 M invoices in the restaurant sector Total VAT assessed of more than 32 Bi Estimated 140% increase in VAT revenue from restaurant sector (250M to 600M ) between 2011 and % resulting from the implementation of the VAT reform and other set of measures Roughly 17 M in tax benefit given to ca. 2,5 M taxpayers companies invoiced and did not submitted the VAT form companies assessed less or deducted more VAT than due Overall, companies detected with irregularities - 40% of these companies voluntarily corrected their tax return.
17 Conclusions Innovative model in Europe to curb shadow economy Results above expectations in the first year of application Good acceptance by the business community and overall society Major changes in cultural behavior are already observable Effective communication and close cooperation with stakeholders is key
18 VAT Tax Evasion Measures undertaken by the Portuguese Government The Brussels Tax Forum th of November, 2013
How to cope with tax havens? Michel Aujean Former Director of Tax Policy EU Commission, Associé Taj, France
How to cope with tax havens? Michel Aujean Former Director of Tax Policy EU Commission, Associé Taj, France What is a tax haven? A non transparent, non cooperative place? A zero tax place (which taxes?)
More informationAn Over view of K or ea s V AT system
2010. 10. 21 Agenda. Assessment of Korea s VAT regime. Success factors. Korea s policy direction of VAT regime . Assessment of Korea s VAT regime An overview of Korea s VAT The purpose of introducing VAT
More informationProposal for a COUNCIL DIRECTIVE
EUROPEAN COMMISSION Brussels, 25.5.2018 COM(2018) 298 final 2018/0150 (CNS) Proposal for a COUNCIL DIRECTIVE amending Directive 2006/112/EC on the common system of value added tax as regards the period
More informationEUROPEAN COUNCIL - CONCLUSIONS. Brussels, 22/05/2013
EUROPEAN COMMISSION SECRETARIAT-GENERAL D/13/4 Brussels, 22/05/2013 EUROPEAN COUNCIL - CONCLUSIONS Brussels, 22/05/2013 EUCO 75/13 EN Delegations will find attached the conclusions of the European Council
More informationUsing VAT as a fiscal consolidation tool in Portugal José A. de Azevedo Pereira. J. Azevedo Pereira 1
Using VAT as a fiscal consolidation tool in Portugal José A. de Azevedo Pereira J. Azevedo Pereira 1 Decomposition of tax revenue (2006 2012) J. Azevedo Pereira 2 VAT Revenue Source: Eurostat J. Azevedo
More informationCouncil of the European Union Brussels, 22 June 2015 (OR. en)
Council of the European Union Brussels, 22 June 2015 (OR. en) 10162/15 FISC 82 ECOFIN 530 CO EUR-PREP 30 NOTE From: To: Subject: General Secretariat of the Council Delegations Report by Finance Ministers
More informationSummary Report Responses to the public consultation on the special scheme for small enterprises under the VAT Directive
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value added tax Brussels, 11 Apr. 17 taxud.c.1(2017) 2171823 Summary Report Responses to the
More informationNOTE General Secretariat of the Council Delegations ECOFIN report to the European Council on Tax issues
COUNCIL OF THE EUROPEAN UNION Brussels, 12 December 2013 (OR. en) 17674/13 FISC 259 ECOFIN 1147 CO EUR-PREP 50 NOTE From: To: Subject: General Secretariat of the Council Delegations ECOFIN report to the
More information2. International taxation: Tax sovereignty. International double taxation: economic and legal. Methods to avoid double taxation.
FISCAL LAW IN THE EU TIMES: Monday, 8:45-10:00 Tuesday, 8:45-10:00 Thursday, 8:45-10:00 I. GENERAL SECTION 1. Introduction to taxation: Direct and indirect taxes. Structure of each tax. Fiscal jurisdiction
More information5. Ireland is Countering Aggressive Tax Planning
CONTENTS 1. Foreword by the Minister for Finance 2. Introduction 3. Ireland s International Tax Charter 4. Ireland s Corporate Tax Strategy 5. Ireland is Countering Aggressive Tax Planning 6. Conclusion
More information18th General Assembly IOTA
18th General Assembly IOTA Tax compliance strategy and other on-going projects in Portugal o AT s NEW MISSION o TAX RETURNS o E-INVOICE WORKFLOW o OTHER COMPLIANCE PROJECTS o ELECTRONIC STATEMENTS o E-TAX
More informationTAX EVASION AND AVOIDANCE: Questions and Answers
EUROPEAN COMMISSION MEMO Brussels, 6 December 2012 TAX EVASION AND AVOIDANCE: Questions and Answers See also IP/12/1325 Tax Evasion Why has the Commission presented an Action Plan on Tax fraud and evasion?
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value added tax GFV N O 064 MINUTES
Ref. Ares(2018)443243-25/01/2018 EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value added tax Group on the Future of VAT 19 th meeting 22
More information11/12/ Eyes Ltd. The VAT package. Major changes to VAT from 1 January 2010
The VAT package Major changes to VAT from 1 January 2010 The European Council has published a new package of measures (known as the VAT Package) setting out significant changes to the rules on the place
More informationCouncil of the European Union Brussels, 22 October 2015 (OR. en) Mr Jeppe TRANHOLM-MIKKELSEN, Secretary-General of the Council of the European Union
Council of the European Union Brussels, 22 October 2015 (OR. en) Interinstitutional File: 2015/0244 (NLE) 13299/15 PROPOSAL From: date of receipt: 21 October 2015 To: No. Cion doc.: Subject: FISC 133 ECOFIN
More informationReport by Finance Ministers of the Euro Plus Pact on Tax Policy Coordination. European Council (comments by Nouwen)
Highlights & Insights on European Taxation, Report by Finance Ministers of the Euro Plus Pact on Tax Policy Coordination. European Council (comments by Nouwen) Vindplaats H&I 2012/2.2 Bijgewerkt tot 01-01-2012
More informationEuropean Commission issues detailed technical proposal for definitive VAT system
Tax Alert 11 June 2018 In this issue: European Commission issues detailed technical proposal for definitive VAT system On 25 May 2018, the European Commission released a proposal containing detailed technical
More informationA FAIR SHARE. Taxation in the EU for the 21st century
A FAIR SHARE Taxation in the EU for the 21st century CONTENT I want Europeans to wake up to a Europe where we have managed to agree on a strong pillar of social standards. Where companies profits will
More informationDelegations will find attached the abovementioned opinion. Please note that other language versions should be available at :
Council of the European Union Brussels, 17 October 2017 (OR. en) 13306/17 FISC 227 COVER NOTE From: To: Subject: General Secretariat of the Council Delegations OPINION of the European Economic and Social
More informationCOLLABORATION WITH TAX SERVICE PROVIDERS IN THE E- INVOICE SYSTEM MARTA ANDRADE PÓVOA TAX AND CUSTOMS AUTHORITY OF PORTUGAL.
COLLABORATION WITH TAX SERVICE PROVIDERS IN THE E- INVOICE SYSTEM MARTA ANDRADE PÓVOA TAX AND CUSTOMS AUTHORITY OF PORTUGAL January COLLABORATION WITH TAX SERVICE PROVIDERS IN THE E-INVOICE SYSTEM By Marta
More informationCouncil of the European Union Brussels, 20 June 2018 (OR. en)
Council of the European Union Brussels, 20 June 2018 (OR. en) Interinstitutional Files: 2017/0251 (CNS) 2017/0249 (NLE) 2017/0248 (CNS) 10335/18 FISC 266 ECOFIN 638 NOTE From: To: No. Cion doc.: Subject:
More informationCouncil of the European Union Brussels, 10 April 2017 (OR. en) Mr Jeppe TRANHOLM-MIKKELSEN, Secretary-General of the Council of the European Union
Council of the European Union Brussels, 10 April 2017 (OR. en) Interinstitutional File: 2017/0078 (NLE) 8066/17 FISC 74 ECOFIN 269 PROPOSAL From: date of receipt: 7 April 2017 To: No. Cion doc.: Subject:
More information12033/18 EVI/JP/fh ECOMP.2.B
Council of the European Union Brussels, 24 September 2018 (OR. en) Interinstitutional File: 2018/0150 (CNS) 12033/18 FISC 351 ECOFIN 813 LEGISLATIVE ACTS AND OTHER INSTRUMTS Subject: COUNCIL DIRECTIVE
More informationExecutive summary 20 September 2010
Study on the feasibility of alternative methods for improving and simplifying the collection of VAT through the means of modern technologies and/or financial intermediaries Executive summary 20 September
More informationCross-border VAT changes January changes to EC Sales Lists (ESLs) HMRC guidance
Cross-border VAT changes 2010 1 January changes to EC Sales Lists (ESLs) HMRC guidance Introduction This HMRC guidance document sets out how the new regime and procedures for ESLs (or recapitulative statements
More informationCOMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE
EUROPEAN COMMISSION Brussels, 4.10.2017 COM(2017) 566 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE On the follow-up to
More information28/06/2018-TAX3 HEARING ON VAT FRAUD WRITTEN REPLIES TO QUESTIONS
28/06/2018-TAX3 HEARING ON VAT FRAUD WRITTEN REPLIES TO QUESTIONS Presentation by the European Commission, Ms Maite Fabregas Fernandez, Director Indirect Taxation and Tax Administration in the Directorate
More informationVAT FRAUD a concern for Tax Administrations but also for Taxpayers
VAT FRAUD a concern for Tax Administrations but also for Taxpayers Donato Raponi European Commission 2014 CESI Conference Brussels, 9-10 October 2014 1 Présentation Powerpoint In this world nothing is
More information- ReportbyFinance MinistersonTaxPolicyCoordination
ConseilUE COUNCILOF THEEUROPEANUNION Brussels,17November2011 17084/1 PUBLIC LIMITE FISC 145 ECOFIN 783 NOTE from: to: Subject: GeneralSecretariat Delegations EuroPlusPact - ReportbyFinance MinistersonTaxPolicyCoordination
More informationACTIVITIES OF THE EUROPEAN UNION (EU) IN THE TAX FIELD IN 2009
European Commission Taxation and Customs Union ACTIVITIES OF THE EUROPEAN UNION (EU) IN THE TAX FIELD IN 2009 3/03/2010/ Taxation and Customs Union DG/ TAXUD A1 - David Boublil -+32 22965573-1 - TABLE
More information6266/18 JVB/JU/fh DGG 2B
Council of the European Union Brussels, 6 March 2018 (OR. en) Interinstitutional File: 2018/0021 (NLE) 6266/18 FISC 72 ECOFIN 127 LEGISLATIVE ACTS AND OTHER INSTRUMTS Subject: COUNCIL IMPLEMTING DECISION
More informationThe External Strategy sets out a three-step process for developing a common EU list:
ROOM DOCUMENT # 1 Code of Conduct Group (business taxation) - Subgroup on third countries 15 July 2016 ORIGIN: Commission Services ETERNAL STRATEGY COMMON EU APPROACH TO LISTING THIRD COUNTRY JURISDICTIONS:
More informationVAT in the European Community APPLICATION IN THE MEMBER STATES, FACTS FOR USE BY ADMINISTRATIONS/TRADERS INFORMATION NETWORKS ETC.
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration VAT and other turnover taxes Brussels, October 2010 TAXUD/C/1 VAT in the European Community APPLICATION
More informationMaking Tax Digital for VAT. Main issues for consideration
Making Tax Digital for VAT Main issues for consideration Businesses whose taxable turnover exceeds the VAT registration threshold will need to keep their records digitally, using MTD functional compatible
More informationEU VAT FORUM WORKING DOCUMENT DOCUMENT ELABORATED BY THE BUSINESS EXPERT GROUP (BEGV): DOING BUSINESS IN PAST AND PRESENT TIMES
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Tax administration and fight against tax fraud Brussels, 15.1.2013 EU VAT FORUM WORKING DOCUMENT
More informationTaxation Vietnam (VNM)(F6) June & December 2017
Taxation Vietnam (VNM)(F6) June & December 2017 This syllabus and study guide is designed to help with planning study and to provide detailed information on what could be assessed in any examination session.
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax Administration Value Added Tax VEG N O 069
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax Administration Value Added Tax VAT Expert Group 18 th meeting 5 February 2018 taxud.c.1(2018)589590 EN Brussels,
More informationVAT REFUND FOR FOREIGN TAXABLE PERSONS
VAT REFUND FOR FOREIGN TAXABLE PERSONS CONTENT I. VAT REFUND FOR TAXABLE PERSONS ESTABLISHED IN ANOTHER EU MEMBER STATE... 2 1. Which legal acts apply with regard to VAT refund for foreign taxable persons?...
More informationAnalysis of the impact of the split payment mechanism as an alternative VAT collection method. Final Report Executive Summary. Written by Deloitte
Analysis of the impact of the split payment mechanism as an alternative VAT collection method Final Report Executive Summary Written by Deloitte December 2017 EUROPEAN COMMISSION Directorate-General for
More informationPublic Revenue Department. VAT Awareness Session: Free Zone Companies
VAT Awareness Session: Free Zone Companies 0 Introduction 1 1 Update on current progress Successful roll out of general VAT awareness sessions took place in March - May 2017 Phase 2 of the awareness sessions,
More informationQuestions and Answers: Value Added Tax (VAT)
MEMO/11/874 Brussels, 6 December 2011 Questions and Answers: Value Added Tax (VAT) 1. General background What is VAT? VAT is a consumption tax, charged on most goods and services traded for use or consumption
More informationFEDERAL INLAND REVENUE SERVICE
FEDERAL INLAND REVENUE SERVICE INFORMATION NO: 2005/01 CIRCULAR Date: February, 2006 SUBJECT: TAX INVOICE AND ITS RELEVANCE TO VAT OPERATION, This Information Circular is published as a guide to all registered
More informationTaxation Vietnam (TX-VNM) (F6)
June and December 2018 Taxation Vietnam (TX-VNM) (F6) Syllabus and study guide Guide to structure of the syllabus and study guide Overall aim of the syllabus This explains briefly the overall objective
More informationEuropean Economic and Social Committee OPINION. European Economic and Social Committee
European Economic and Social Committee ECO/442 VAT reform package (I) OPINION European Economic and Social Committee Communication from the Commission to the European Parliament, the Council and the European
More informationThe Start-up Brief. This FAQ sheet specifically sets out to answer the following questions:
The Start-up Brief Tax Issues This FAQ sheet forms part of a series prepared by postgraduate students from the University of Manchester s School of Law, in conjunction with the Legal Advice Centre. They
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Direct taxation, Tax Coordination, Economic Analysis and Evaluation Direct Tax Policy & Cooperation Brussels, 3 September 2014 TAXUD.D.2
More informationCOMMISSION OF THE EUROPEAN COMMUNITIES. Amended proposal for a COUNCIL DIRECTIVE
COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, 8.7.2004 COM(2004) 468 final 2003/0091 (CNS) Amended proposal for a COUNCIL DIRECTIVE amending Directive 77/388/EEC as regards value added tax on services
More informationStéphane Buydens VAT Policy Advisory Consumption Taxes Unit OECD 2, rue André Pascal Paris France. 24 September 2012
Stéphane Buydens VAT Policy Advisory Consumption Taxes Unit OECD 2, rue André Pascal 75775 Paris France 24 September 2012 Comments on OECD International VAT/GST Guidelines Draft Commentary on the International
More informationCommittee on Economic and Monetary Affairs
European Parliament 2014-2019 Committee on Economic and Monetary Affairs 2015/0065(CNS) 17.9.2015 * DRAFT REPORT on the proposal for a Council directive repealing Council Directive 2003/48/EC (COM(2015)0129
More informationEU VAT. Anticipating the changing indirect tax landscape. 14 November 2018
EU VAT Anticipating the changing indirect tax landscape 14 November 2018 EU VAT: Anticipating the changing indirect tax landscape Speakers Martin Morawski Senior Associate Amsterdam Mirko Marinc Partner
More informationGuide to the VAT mini One Stop Shop
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration VAT Brussels, 23 October 2013 Guide to the VAT mini One Stop Shop (REV 1 applicable from 1 January
More informationPublic Consultation on the Definitive VAT system for Business to Business (B2B) intra-eu transactions on goods.
Contribution ID: f9885e24-630d-46d3-9e3f-c0658d9e11a5 Date: 20/03/2017 11:31:41 Public Consultation on the Definitive VAT system for Business to Business (B2B) intra-eu transactions on goods. Fields marked
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax Administration Value Added Tax VEG N O 057
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax Administration Value Added Tax VAT Expert Group 14 th meeting 19 September 2016 taxud.c.1(2016)5532134 EN Brussels,
More informationHouse Bill 49 Testimony Robert Wright, City of Bowling Green June 6, 2017
House Bill 49 Testimony Robert Wright, City of Bowling Green June 6, 2017 Chairman Oelslager, Ranking Member Skindell and members of the Senate Finance Committee, my name is Robert Wright. I am the Tax
More informationNational practices for AUSTRIA
AUSTRIA Case reference Court Level (L= lower, S= supreme) Does the case involve (alleged) fraud? Invoice VAT ID International consignment notes (CMR) Commonly accepted evidence by the courts and tribunals
More informationProposal for a COUNCIL IMPLEMENTING DECISION
EUROPEAN COMMISSION Brussels, 9.2.2018 COM(2018) 59 final 2018/0024 (NLE) Proposal for a COUNCIL IMPLEMENTING DECISION authorising the Republic of Latvia to introduce a special measure derogating from
More informationGST & YOU. Tally Solutions Pvt. Ltd. All Rights Reserved 2. Tally Solutions Pvt. Ltd. All Rights Reserved Business Presentation
WELCOME 1 GST & YOU Tally Solutions Pvt. Ltd. All Rights Reserved 2 Tally Solutions Pvt. Ltd. All Rights Reserved Business Presentation Presentation Agenda GST Basics What is GST Why GST GST concepts How
More informationVAT in the European Community APPLICATION IN THE MEMBER STATES, FACTS FOR USE BY ADMINISTRATIONS/TRADERS INFORMATION NETWORKS ETC...
VAT in the European Community APPLICATION IN THE MEMBER STATES, FACTS FOR USE BY ADMINISTRATIONS/TRADERS INFORMATION NETWORKS ETC... Note This document collates a range of basic information on the application
More informationAlternative method of VAT collection Response by the Chartered Institute of Taxation
Alternative method of VAT collection Response by the Chartered Institute of Taxation 1 Introduction 1.1 The Chartered Institute of Taxation (CIOT) is pleased to set out its comments in relation to the
More informationQuestions and answers: GST on low-value imported goods an offshore supplier registration system
October 2018 Questions and answers: GST on low-value imported goods an offshore supplier registration system Summary of the proposals From 1 October 2019: Offshore suppliers would be required to register,
More informationSpeech: Priorities for EU tax policy
EUROPEAN COMMISSION Algirdas Šemeta Commissioner responsible for Taxation and Customs Union, Audit and Anti-fraud Speech: Priorities for EU tax policy Irish Parliament Committee on Finance / Dublin 10
More informationProposal for a COUNCIL IMPLEMENTING DECISION
EUROPEAN COMMISSION Brussels, 25.9.2017 COM(2017) 543 final 2017/0233 (NLE) Proposal for a COUNCIL IMPLEMENTING DECISION amending Implementing Decision 2012/232/EU authorising Romania to apply measures
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value Added Tax VEG N O 042
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value Added Tax VAT Expert Group 10 th meeting 31 March 2015 taxud.c.1(2015)1342130 EN Brussels,
More informationGLOBAL INDIRECT TAX. Sweden. Country VAT/GST Essentials. kpmg.com TAX
GLOBAL INDIRECT TAX Sweden Country VAT/GST Essentials kpmg.com TAX b Sweden: Country VAT/GST Essentials Sweden: Country VAT/GST Essentials Contents Scope and Rates 2 What supplies are liable to VAT? 2
More informationMANUAL ON THE IMPLEMENTATION OF EXCHANGE OF INFORMATION PROVISIONS FOR TAX PURPOSES UNCLASSIFIED MODULE 2 ON SPONTANEOUS EXCHANGE OF INFORMATION
MANUAL ON THE IMPLEMENTATION OF EXCHANGE OF INFORMATION PROVISIONS FOR TAX PURPOSES Approved by the OECD Committee on Fiscal Affairs on 23 January 2006 UNCLASSIFIED MODULE 2 ON SPONTANEOUS EXCHANGE OF
More informationGuide to Making Tax Digital
Guide to Making Tax Digital Making Tax Digital - what does it mean for you? Making Tax Digital is a government initiative that sets out a bold vision for a digital tax system to make it easier for individuals
More informationThe guide to starting your own business
Ltd Chartered Certified Accountants & Registered Auditors The guide to starting your own business Written By: Roger Poulter FCCA Table of contents 1. The Overview 2. How to trade 3. Keep the Tax people
More informationAPA/ATR-practice In The Netherlands. Visit TAXE special committee May
APA/ATR-practice In The Netherlands Visit TAXE special committee May. 29. 2015 1 Rulings general remarks Right for every taxpayer in our society to get certainty about the tax consequences of the legislation
More informationClient Relationship Agreement for Products
Client Relationship Agreement for Products This Client Relationship for Products (CRA) and applicable Attachments and Transaction Documents (TDs) are the complete agreement regarding transactions under
More informationCouncil of the European Union Brussels, 22 June 2015 (OR. en)
Council of the European Union Brussels, 22 June 2015 (OR. en) 10161/15 FISC 81 ECOFIN 529 CO EUR-PREP 29 NOTE From: To: Subject: General Secretariat of the Council Delegations ECOFIN Report to the European
More informationA Guide for Businesses. Making Tax Digital. Your Questions Answered.
A Guide for Businesses Making Tax Digital Your Questions Answered. A Guide for Businesses Making Tax Digital Your Questions Answered. Contents 1. What is Making Tax Digital? 2. What does this mean for
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration EU VAT FORUM
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Tax Tax administration administration and and fight fight against against tax tax fraud fraud
More informationCOMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT. Accompanying the document. Proposal for a Council Directive
EUROPEAN COMMISSION Brussels, 23.10.2013 SWD(2013) 426 final COMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT Accompanying the document Proposal for a Council Directive amending
More informationAMENDMENTS TO THE VALUE ADDED TAX ACT IN FORCE AS OF 1 JANUARY 2014
AMENDMENTS TO THE VALUE ADDED TAX ACT IN FORCE AS OF 1 JANUARY 2014 As of 1 January 2014 in the Value Added Tax Act (VAT Act) are in force changes that can be summarized as follows: 1. Supply of goods
More informationFinance Ministry Highlights 2009 Tax Inspection Objectives
Volume 54, Number 2 April 13, 2009 Finance Ministry Highlights 2009 Tax Inspection Objectives by Michal Tarka Finance Ministry Highlights 2009 Tax Inspection Objectives The Polish Ministry of Finance on
More informationExaminer s report F6 (CHN) Taxation June 2017
Examiner s report F6 (CHN) Taxation June 2017 General Comments There were two sections to the examination paper and all of the questions were compulsory. Section A consisted of 15 multiple choice questions
More informationCouncil of the European Union Brussels, 22 December 2015 (OR. en)
Conseil UE Council of the European Union Brussels, 22 December 2015 (OR. en) PUBLIC 15517/15 LIMITE FISC 198 ECOFIN 1002 NOTE From: To: Subject: Incoming Dutch Presidency Permanent Representatives Committee/Council
More informationPROCOLOMBIA.CO GUIDE FOR EXPORTING SERVICES FROM COLOMBIA
PROCOLOMBIA.CO GUIDE FOR EXPORTING SERVICES FROM COLOMBIA HOW TO EXPORT SERVICES FROM COLOMBIA? 1. IDENTIFY YOUR SERVICE SUPPLY MODE The first thing you should do is to understand the essential elements
More informationSection 1: General Definitions and Provisions Section 2: Supplies within Tax Scope Section 3: Place of Supply Chapter 1: Place of Goods Supply
GCC VAT Framework 1 Contents Section 1: General Definitions and Provisions... 6 Article 1: Definitions... 6 Article 2: Tax Scope... 8 Article 3: The Calculation of Tax Periods... 8 Article 4: Tax Group...
More informationDefinitive VAT-system for Cross-Border Trade
POSITION PAPER 21 December 2017 Definitive VAT-system for Cross-Border Trade KEY MESSAGES 1 2 3 We welcome the European Commission s commitment to the creation of a single VAT-area based on maximum simplicity,
More informationINTER- AMERICAN CENTER OF TAX ADMINISTRATIONS 48ª. GENERAL ASSEMBLY
INTER- AMERICAN CENTER OF TAX ADMINISTRATIONS 48ª. GENERAL ASSEMBLY THE USE OF INFORMATION AND COMMUNICATION TECHNOLOGIES IN THE TAX ADMINISTRATION Subtopic 1.1 ELECTRONIC DOCUMENTS. SOLUTIONS FOR SMALL
More informationReview on Transparency and Disclosure: From the perspective of Bangladesh and other developing countries
Review on Transparency and Disclosure: From the perspective of Bangladesh and other developing countries (BEPS Action Item-13) * Read with Transparency and Disclosure by Diane Ring SYED MOHAMMAD ABU DAUD
More informationMaking Tax Digital: Explained
Making Tax Digital: Explained Presented by Mark Purdue, ATT Product Manager Tax Products Thomson Reuters 22 September 2016 Agenda Making Tax Digital Re-cap what is it? Consultation Process Consultation
More informationContact: David Holmes, Tel: +33 (0) ; Fax: +33 (0)
For Official Use DAFFE/CFA(2003)43/ANN5 DAFFE/CFA(2003)43/ANN5 For Official Use Organisation de Coopération et de Développement Economiques Organisation for Economic Co-operation and Development 12-Jun-2003
More informationCHINA EXPANDS VAT REFORM TO NEW SECTORS
CHINA EXPANDS VAT REFORM TO NEW SECTORS By Daniel Chan, Doris Ho and Tina Xia, DLA Piper China's Premier Li Keqiang has announced, in the Annual Government Working Report to the National People's Congress,
More informationEU VAT FORUM INTERIM REPORT OF THE SUB-GROUP ON CROSS- BORDER RULINGS (CBR) DECISIONS OF THE EU VAT FORUM ON THE
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Tax administration and fight against tax fraud Brussels 27 June 2014 taxud.c.4/(2014)2061860rev
More informationUHY ECA TAX NEWSLETTER VALUE ADDED TAX An independent member of UHY International
UHY ECA TAX NEWSLETTER VALUE ADDED TAX 22.02.2018 An independent member of UHY International TABLE OF CONTENTS 1. Mechanism of split payment 3 2. Standard audit file for tax ( Saf-T ) obligatory for all
More informationNational Institute of Public Finance and Policy
National Institute of Public Finance and Policy VAT coordination in federations and common markets: lessons for India Sijbren Cnossen VATs in federations and common markets: from good to bad to ugly 1.
More informationAppendix 11 Overview of cost data
Appendix 11 Overview of cost data 1. In this appendix, an overview is given of the quantitative data provided by the Member States in scope with which a follow-up interview was performed to validate the
More informationVALUE ADDED TAX COMMITTEE (ARTICLE 398 OF DIRECTIVE 2006/112/EC) WORKING PAPER NO 906
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value added tax taxud.c.1(2016)3297911 EN Brussels, 6 June 2016 VALUE ADDED TAX COMMITTEE (ARTICLE
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value Added Tax
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value Added Tax UPDATED MARCH 2015 VAT IN THE EUROPEAN COMMUNITY VADEMECUM FOR THE ELECTRONIC
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax Administration Value Added Tax VEG N O 073
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax Administration Value Added Tax VAT Expert Group 19 th meeting 26 February 2018 taxud.c.1(2018)1061246 EN Brussels,
More informationVAT guide for small businesses. VAT guide
VAT guide 1 Contents... What is VAT? Contents What is VAT? VAT or, Value Added Tax, is a tax that is charged on most goods and services that VAT registered businesses provide in the UK. Introduction to
More informationThe Immediate Information System" (SII) (Note)
The Immediate Information System" (SII) (Note) General description The "Immediate Information System" (SII) involves the obligation for certain taxable persons to inform the tax administration electronically
More informationEY Slovenia. Tax News - Oktober
10 November 2017 EY Slovenia Tax News Tax News - Oktober In this edition of EY Tax News, we inform you about the proposed tax law changes in Slovenia in relation to: Personal Income Tax Act Corporate Income
More informationVAT listings implementation in EU Member States
EUROPEAN COMMISSION DG TAXUD VAT listings implementation in EU Member States Report by Fiscalis Project Group 074 26/01/2017 This report compiles information of Member States' experience with implementations
More informationVAT reclaim Don t leave money on the table
VAT reclaim Don t leave money on the table Don t leave money on the table Infographic: You re leaving money on the table.......... 3 Introduction: Foreign VAT: The elusive savings opportunity... 4 The
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value added tax VEG NO 072
Ref. Ares(2018)856264-14/02/2018 EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value added tax VAT Expert Group 18 th meeting 5 February 2018
More information10472/18 JC/NC/jk ECOMP.2.B. Council of the European Union Brussels, 14 September 2018 (OR. en) 10472/18. Interinstitutional File: 2017/0248 (CNS)
Council of the European Union Brussels, 14 September 2018 (OR. en) Interinstitutional File: 2017/0248 (CNS) 10472/18 FISC 276 ECOFIN 667 LEGISLATIVE ACTS AND OTHER INSTRUMTS Subject: COUNCIL REGULATION
More informationA New Approach of Implementing a Single Tax Invoice System within Value Added Tax Administration in Indonesia
A New Approach of Implementing a Single Tax Invoice System within Value Added Tax Administration in Indonesia Titi Muswati Putranti Universitas Indonesia the 13 th The International Conference on Tax Administration
More information