by stefanie | May 27, 2021 | World Focus
On the 1st July 2021 the previous VAT exemption limit of €22 ($26) for the import of goods into the EU will cease to apply. This means that every product that is sold from a non-EU country (e.g. USA, Great Britain, China), will now be liable to import taxes. The EU...
by stefanie | Apr 15, 2021 | World Focus
The new rules will come into force on 1 July 2021 and are designed to make life simpler and fairer for all and close a €7 billion ($8.38 billion) tax loss, the EU says. The European Commission reports that EU member states are losing out on an estimated €7...
by stefanie | Jan 12, 2021 | World Focus
UK tax authorities (HMRC) have closed a VAT loophole that will see Chinese products sold on online marketplaces like Amazon and eBay rise by 20%. Effective from the 1st January 2021, online marketplaces now have to account for the VAT paid on products, sold to UK...
by stefanie | Sep 18, 2020 | World Focus
EU estimates a potential loss of €164 billion ($194 billion) VAT revenue due to the effect of the coronavirus on the European and global economy, poor tax compliance, fraud, avoidance, bankruptcies, insolvencies and tax administration. This year’s VAT Gap report...
by stefanie | Jun 8, 2020 | Around the Industry
The UK tax authority changes their guidance and VAT will now apply to Go Cardless transaction fees. Companies accepting invoice payments via the GoCardless payment service will now be required to pay Value Added Tax (VAT) across all of the fees charged by Go Cardless....
