VAT on currency importation
The Office of the CfR has issued a clarification on the manner in which the importation of currency is to be reported by a declarant under the National Import System (NIS)...
27 May 2022
CFE Opinion Statement on the EU Commission VAT in the Digital Age Consultation
CFE Tax Advisers Europe issued an Opinion Statement on the EU VAT in the Digital Age Consultation on 5 May 2022. On Digital Reporting Requirements, the CFE is of the view that if Member States will be required to implement such measures, it is highly desirable that the systems should...
18 May 2022
Intra-EC acquisition of goods for use by MS armed forces
The definition of 'intra-community acquisition' has been revised by LN 140 of 2022 to include the application by the armed forces of a Member State taking part in a defence effort carried out for the implementation of a European Union activity under the common security and...
16 May 2022
VAT – zero rating of supplies and imports intended for the armed forces
LN 138 of 2022 has revised item 14 of part 1 and item 9 of part 4 of the fifth Schedule to the VAT Act, adding to the list of exempt with credit supplies and imports, certain supplies of goods and services and imports intended...
16 May 2022
Repayments under the COVID Tax Deferral Scheme – MFE Press Release
The Ministry for Finance and Employment has released a Press Release in relation to the repayment of taxes that were eligible under the Tax Deferral Scheme launched in March 2020 (See MIT News 20 March 2020). It has been announced that beneficiaries under the scheme will...
12 May 2022
Commission recommendations to improve VAT revenue collection
The European Commission has published its Screening and Diagnostic Report of Value-Added Tax (VAT) Administration in the EU containing a series of recommendations to help Member States improve their VAT revenue collection, control procedures and processes. source: ec.europa.eu...
10 April 2022
Central Electronic System of Payment Information (CESOP)
With effect from 1 January 2024 payment service providers who are established or provide payment services in the European Union are to keep certain records of cross-border payments originating from payers within Member States and certain information of the payees, and transmit those records to...
10 April 2022
VAT Rates Directive published
COUNCIL DIRECTIVE (EU) 2022/542 of 5 April 2022 amending Directives 2006/112/EC and 2020/285 as regards rates of value added tax has been published. The Directive, which reflects the rules agreed to in December 2021, introduces amendments to the VAT Directive and the Directive relating to the special scheme for small...
10 April 2022
Council adopts conclusions on VAT e-commerce package
The EU Council has welcomed the preliminary results presented by the Commission of the successful application of the new EU VAT rules for e-commerce, and the Commission’s intentions to propose further simplification in the EU cross-border trade, reduction of administrative burdens for businesses as well...
21 March 2022