Raymonds Accountants’ Post

EU set to adopt e-invoicing for VAT In a sweeping change to EU VAT rules, the European council has agreed to go ahead with electronic invoicing and real-time data reporting After two years of debate and negotiations, the European Council has reached an agreement on new measures that will overhaul and modernise the EU’s VAT rules. The key reforms will introduce a requirement for electronic invoices and real-time data reporting, and new rules on VAT liability for bookings for online accommodation rental and passenger transport services carried out through digital platforms, such as Airbnb and Uber. #VAT #EU #DataReporting #Tax #Budget #E-Invoicing #Invoices

The EU’s new VAT regulations will require platforms like Airbnb and Uber to handle VAT collection by 2030, marking a major shift in digital economy compliance. #VAT #EURegulations #DigitalEconomy #VATReform #EUUpdate #DigitalServices #PlatformEconomy #TaxPolicy #Compliance #SharingEconomy #TechRegulation #AirbnbTax #UberTax #EUFinance #BusinessUpdates #GigEconomy

🛡️ Estonia VAT: What You Should Know! Estonia offers a 9% reduced VAT rate on items like books and medicine, with a zero rate for exports. Interestingly, digital services are taxed based on the customer's location, vital for e-commerce businesses. The VAT gap in Estonia is among the lowest in Europe, reflecting high compliance. Local businesses registering late face backdated liabilities—an important detail to watch! 👉 Explore more facts: https://lnkd.in/dExTNuXJ #VAT #Estonia #TaxFacts #DigitalEconomy #BusinessTips

💡Did you know that VAT registration can be mandatory or voluntary in Estonia? For e-residents, there are recent updates about the requirement to register VAT in Estonia as well as a new proposal for declaring small invoices for Estonian companies. 👉 Learn more about these VAT updates and how they might affect your business operations. Check out our blog post for detailed insights: https://lnkd.in/dTMDiwSF #Estonia #VATUpdate #eResidency #TaxCompliance #Unicount

🚖 GST Notices issued to Tourist Taxi Owners: A Wake-Up Call for Compliance: The Department of Commercial Taxes has recently issued notices to nearly 250 tourist taxi owners for not having GST registration. Operators with over 4 taxis are in the spotlight, with one case revealing a single owner holding 14 taxis! 🔑 Key Highlights: - Owners must register for GST once their annual income exceeds ₹20 lakh. - With just 5 taxis, the income threshold can easily be surpassed. - The GST department is now collaborating with the Transport Department and Income tax department to monitor compliance more effectively. Why should this matter to you? For many small businesses and service providers, GST compliance is often overlooked—but it’s crucial. This move by the department highlights the importance of proper registration and record-keeping for businesses of all sizes. If you’re a taxi operator or know someone who is, make sure your business stays compliant and avoid future penalties. #GST #GSTregistration #TaxCompliance #Tourism #Taxation #Business #GSTnews #Incometax #Transport #Taxiowners

📢 EU VAT Guide: Bulgaria 🇧🇬 Today, we're focusing on Bulgaria! The standard VAT rate here is 20%, with a reduced rate of 9% for tourism services. There are exemptions for certain goods and services. Bulgaria has no VAT registration threshold for resident or non-resident businesses, making it crucial to stay informed on VAT compliance. Our comprehensive guide offers all the details you need to ensure your business meets the VAT requirements in Bulgaria seamlessly. #EUVATGuide #BulgariaVAT #TaxCompliance #1stopVAT

📢 New Guide: VAT in Croatia Discover everything you need to know about VAT in Croatia! From the registration thresholds and types of taxable activities to the penalties for non-compliance, this guide has it all. Whether you're a domestic business, a foreign entity, or engaged in e-commerce, understanding Croatia's VAT system is crucial to staying compliant and optimizing your operations. 🔍 Key Highlights: Standard VAT rate: 25% Registration threshold for domestic businesses: €40,000 Monthly/Quarterly VAT returns 👉 Read the full guide: https://lnkd.in/dr5q4Zix #VAT #Croatia #TaxCompliance #Ecommerce #BusinessGrowth

The EU amends proposed VAT rules for the digital age ViDA was not approved by the EU Finance Ministers on 14 May 2024 because one Member State did not support new rules for passenger transport and short-term accommodation platforms. ECOFIN aims to reattempt agreement on ViDA on 21 June 2024. This article provides an overview of amended EU “VAT in the Digital Age” (ViDA) proposal which was made public on 8 May 2024. If adopted, it will mean the major overhaul of EU VAT system in coming years. #vat #grantthornton #vatcompliance #eu #compliance #business #EuropeanUnion #tax #internationaltrade

🇵🇹 Today's spotlight in our EU VAT Guide series is on Portugal! Discover the ins and outs of Portugal's VAT system, including the standard rate of 23% and reduced rates for certain goods and services. Stay informed about VAT registration thresholds and compliance requirements to keep your business running smoothly. 🚀 #1stopVAT #PortugalVAT #TaxCompliance #EU #VATGuide

📢 EU VAT Guide: Spain 🇪🇸 Today's focus is on Spain! The standard VAT rate here is 21%, with reduced rates of 10% for food and accommodation, and 4% for essentials like books and medicines. Some supplies are even VAT exempt. Spain's VAT registration has no threshold for resident or non-resident businesses, making it crucial to understand the rules and stay compliant. Our guide covers everything you need to know, ensuring your business operations run smoothly in Spain. #EUVATGuide #SpainVAT #TaxCompliance #1stopVAT