With the second edition of the WTS Global VAT Newsletter in 2021 we want to share with you insights on the latest developments in terms of VAT and GST across the globe.
From Denmark we learn that foreign businesses may need more than a VAT number to be properly registered. Germany intends to apply modified rules for work deliveries as of July, and in parallel German fiscal administration needs to consider the “Danske bank” ruling form the ECJ. Hungary provides a chance to reduce the VAT burden for residential property. Poland keeps up with its digital agenda and is about to implement e-invoicing via a national invoicing system. Portugal specifies the rights and obligations under the reverse-charge mechanism. Positive side-effects of data collection by the fiscal authorities can be seen in Spain providing pre-completed tax returns.
Beyond Europe we are reminded about the VAT treatment of digital services in Chile. The Kingdom of Saudi Arabia aims to foster economic development by implementing VAT relief for specific economic zones.
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