The MIT VAT Practitioners’ Forum brings together professionals who work in the field of VAT to discuss select topical VAT issues from a technical and practical perspective. It is an opportunity for dialogue amongst practitioners as well as with representatives of the Office of the CfR.
The first MIT VAT Practitioners’ Forum was held on 22 March 2023 at the Notch Conference Centre, Urban Valley Resort. The event, brought by the MIT’s Indirect Tax Technical Committee, featured two panel discussions as well as an opportunity for Q&A.
At the March 2023 VAT Practitioners’ Forum…
Panel Discussion 1: A Spotlight on…The VAT in The Digital Age Package
The panellists discussed select aspects of the proposals and there the possible implications. How feasible is the timing under the new digital reporting requirements proposal? how will the proposed new definition of short-term accommodation impact the way property leasing is taxed? Do we agree with the proposed ‘facilitation’ service under the new rules for the platform economy? – were some of the aspects of the ViDA proposals that were discussed at the Forum.
Panel Discussion 2: Reflecting on Pitfalls & Obstacles
During this session the panellists discussed some common uncertainties and practical difficulties encountered. Issues arising around correcting a VAT return, the Tax In Danger provision, refund of input tax and the content of a VAT return were some of the many practical aspects of VAT discussed.
