Following public consultation the UK government has announced that the VAT Retail Export Scheme and airside tax-free sales concession will be withdrawn in Great Britain. Overseas visitors will no longer be able to obtain a VAT refund on items they buy in GB and take home with them in their luggage.
New EU VAT rules on e-commerce come into effect on 1 July 2021. Here we summarise the changes and the actions business should take to prepare for them.
7 November 2020| CATEGORIES: e-Commerce, VAT
Ireland has unveiled a Stimulus Plan of tax, loan and spending measures designed to boost the country’s economic recovery from the COVID-19 crisis. The Plan includes a temporary reduction in the Irish standard rate of VAT from 23% to 21%.
5 August 2020| CATEGORIES: Covid measures, VAT rates
The UK has implemented a temporary VAT rate cut from 20% to 5% for the hospitality and tourism sectors following the coronavirus crisis, to apply until 12 January 2021. UPDATE: Since this VAT alert was published, the 5% temporary VAT rate was extended to 30 September 2021. In addition, from 1 October 2021 a new temporary reduced VAT rate of 12.5% was introduced (see our blog article "New VAT rate for hospitality and tourism with effect from 1 October 2021" for further information).
15 July 2020| CATEGORIES: Covid measures, VAT rates
Germany has unveiled a €130bn package of tax and spending measures designed to boost the country’s economic recovery from the coronavirus crisis. The package includes a plan to temporarily reduce German VAT rates.
5 June 2020| CATEGORIES: VAT rates
In April 2020, the VAT exemption for imported goods costing NOK 350 or less (approximately EUR 30 / USD 35) supplied by foreign businesses to consumers in Norway was abolished. Most B2C imported goods with a value below NOK 3,000 (approximately EUR 270/ USD 300) are now liable for Norwegian VAT, payable by the supplier.
9 April 2020| CATEGORIES: GST, Low value imported goods
From 1 December 2019, low value goods costing NZD 1,000 or less supplied by overseas businesses to New Zealand consumers (known as “distantly taxable goods”) will be treated as supplied in New Zealand and subject to New Zealand Goods and Services Tax (GST). Read our tax alert for a summary of the changes.
22 October 2019| CATEGORIES: GST, Low value imported goods
The EU “quick fixes” package relating to cross-border trade will come into effect from 1 January 2020. Here we provide an overview of the chain transaction quick fix and highlight what businesses need to be doing to prepare for the new rules.
10 October 2019| CATEGORIES: 2020 Quick Fixes, VAT
The EU “quick fixes” package relating to cross-border trade will come into effect from 1 January 2020. Here we provide an overview of the call-off stock quick fix and highlight what businesses need to be doing to prepare for the new rules.
7 October 2019| CATEGORIES: 2020 Quick Fixes, VAT
The EU “quick fixes” package relating to cross-border trade will come into effect from 1 January 2020. Here we provide an overview of the quick fix relating to the requirement to obtain a customer’s VAT identification number.
7 October 2019| CATEGORIES: 2020 Quick Fixes, VAT
