The latest issue of Meridian Global Service’s VT Magazine which covers VAT insights for global businesses is now available, see. As always it provides updates on VAT regulations in all the major countries that came into force in January 2017 in Europe and in Rest of World: China, Egypt, and New Zealand.
It also has articles on:
- Do UK Sellers Need To Pay Us Tax On FBA Stored In The USA?
- EBAY Announcement About Vat Compliance For Overseas Sellers.
The report on the Europe Commission includes items on:
- The plans to publish a “common eu list of non- cooperative tax jurisdictions”
- How they plan to simplify VAT rules for small businesses selling online
- The proposed VAT exemptions for large transactions by firms. Meridian report that “This proposal, if implemented, would only be temporary and in countries willing to implement it. This new measure has been brought forward in order to tackle widespread fraud causing losses for national treasuries estimated at €160 billion every year. The EC’s proposal would allow sales between businesses of more than €10,000 to be VAT-free, with only the final consumer being liable for the full VAT costs.”
CTMfile take: The VT Magazine is essential reading for anyone involved in managing VAT world-wide.
2016 VAT rate and threshold changes
Meridian Global Services report on new rates and thresholds for Europe
China VAT consolidating filing
China's Ministry of Finance (MOF) and the State of Administration of Taxation (SAT) jointly issued a circular Caishui No. 84, "Provisional Measures for the VAT Calculations and Reporting of Pilot Taxpayers with HQ a