Essentia Global Services Ltd

So, the 2024 Essentia Secret Santa pressies have shipped to the orphaned and hospitalised children of Kharkiv region in Ukraine. We managed two big shipments this year, compared to one last, so huge thanks to the team for all their efforts. Also thanks to Spaces Brighton for their support and our friends at Clearline Recruitment, Engineering Recruitment Partners Ltd and Dapper Labs who joined us in this effort 😊 🎁 🎅 🎊

Essentia Global Services November 2024 VAT Newsletter: Please find a link below to access your informative and insightful bi-monthly international VAT newsletter covering all the latest news from across the globe. Please go to the Essentia Global Services website should you wish to subscribe at: essentiaglobalservices.com Enjoy! 🙂 News Letter Link: https://lnkd.in/eEaTmhAF

Ukraine Help Required: Christmas is coming to Ukraine, and Essentia is launching its annual Secret Santa appeal for orphaned and injured children in the Kharkiv region. Sadly, with no end to the tragedy, it's more necessary than ever; this year we have a huge list of children with broken bodies and lives to whom we'll be trying bring at least a small smile at Christmas. Can you help help? We need small gifts that can be brought or sent (or ordered for delivery) to central Brighton (UK) by the 23rd of November, when we'll be shipping them out for Ukraine. You can pick a child on the list and personalise your gift if you wish. Please contact our team if you would like to help on: contact@essentiaglobalservices.com 😊

VAT Reform In Belgium The Belgian Ministry of Finance has issued a Royal Decree that outlines changes to the country’s VAT rules. The changes will take effect as of 1 January 2025 and deal with a wide range of procedural aspects of the VAT system. Specifically: Direct debit payments will be offered as an option to tax payers that are VAT registered in Belgium; Failure to file a VAT return will trigger an automated assessment which will estimate the VAT due. Failing to file a VAT return will attract a penalty that can range from EUR 500 to EUR 5,000 per return. Currently a fixed penalty of EUR 1,000 is applicable. Taxpayers filing monthly VAT returns will now be able to receive a VAT refund of their credit on a monthly basis. The VAT current account system currently in use will be replaced by the VAT provision account system. The new system will allow taxpayers to manage their VAT refunds and credits directly from their account as well as settle other tax liabilities. Filing deadlines for special and quarterly VAT returns will be aligned to provide more consistency to the filing process. The deadline will be the 25th of the month following the relevant reporting period. If you have any questions on the proposed changes please reach out to us on: contact@essentiaglobalservices.com 😊

Slovak Republic- 2025 VAT Rate Changes: On 3 October the Slovak Republic parliament approved legislation to increase the standard VAT rate from 20% to 23%. A new 'reduced' VAT rate of 19% will replace the current 10% reduced rate. The 5% rate remains unchanged but with new supplies being included in this lower rate. The rate changes will take effect on 1 January 2025. Below is a summary of the supplies which fall under the new reduced rates: 19% VAT rate - electricity - food which is not covered by the 5% rate - restaurant and catering services consisting of the provision of drinks except alcoholic drinks with an alcohol content of more than 0.5% by volume 5% VAT rate - Goods - basic foodstuffs (meat, milk, sour cream, potatoes, bakery products and similar), medicines, pharmaceutical products, medical supplies, books and similar printed products - Services - accommodation, e-books, services of fitness facilities, sports facility operation services, restaurant and catering services consisting of the provision of prepared or unprepared food intended for human consumption - Goods and services which are supplied as part of social economy activities and are supplied by a registered social enterprise which uses 100% of the profit after tax to achieve its main goal - A reduced VAT rate of 5% is still valid for rental housing supported by state under the conditions defined by the VAT Act Please get in touch should you require clarification on VAT rates concerning supplies made or received in Slovakia. contact@essentiaglobalservices.com 🙂