The year 2022 is already up and running, which also holds true for the world of VAT and GST, as you can see from the insights collected from various countries in our first edition of the WTS Global VAT Newsletter 2022.
Austria is facing new regulatory requirements because of a recent ECJ decision which has led to a new treatment of rental turnover of foreign investors. Belgium clarified requirements for guarantees to be provided when foreign taxpayers register via a fiscal representative. Changed reporting obligations and an upfront collection of VAT for advance payments is the New Year’s message coming from France. Amended reporting requirements for Intrastat purposes will have to be observed in Germany and also in other EU Member States. The scope of application for the reverse-charge procedure has been extended in Hungary but new VAT exemptions have been implemented too. Italy will continue with its routines for e-invoicing but will postpone the extension on cross-border supplies. VAT grouping is well-known in the Netherlands but as of when a VAT group may begin to exist seems to be under dispute. Besides electronic invoices, taxpayers in Poland may take advantage of structured invoices, e.g. allowing faster refunds.
Beyond Europe we can see China specifying the application of surcharges on specific VAT debts. The Kingdom of Saudi Arabia allows e-invoicing and provides refunds in re-export cases. In turn, Singapore tries to make its GST system more robust by expanding its scope of application. The recovery of input VAT will have to be applied for within a shorter deadline in Ukraine, potentially accompanied by a rising number of VAT audits.
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