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VAT News N° 1 2017

Welcome to our monthly VAT News intended for companies having activities across the 28 Member States.

You will find here below updated information and schemes on a country-by-country basis.

Belgium, France, Finland, Hungary, Latvian Poland, Romania & Spain.

EUROPEAN COMMISSION – E-COMMERCE

The European Commission has published a legislative proposal to significantly change VAT rules for online sales of goods and services in Europe between 2018 and 2021.

Check our last news on VAT and E-Commerce here or request our E-Commerce check list by This email address is being protected from spambots. You need JavaScript enabled to view it. .

 

EORI NUMBER – SINGLE ADMINISTRATIVE DOCUMENT

Since January 7, 2017, it has been mandatory to use an EORI number for the proper completion of the Single Administrative Document (import/export). Foreign companies need to ensure that their EORI number is linked to all VAT numbers. This can be done through the local customs authorities which issued the EORI number.

It appears that several administrations are not ready system-wise to implement the above. Should you need any assistance, please contact Alain Soriano (This email address is being protected from spambots. You need JavaScript enabled to view it. ).

 

BELGIUM

End of prepayments for taxpayers filing quarterly VAT returns

The Ministry of Finance announced the abolition of monthly prepayments for taxpayers filing quarterly VAT returns. The legislation (not yet published) should enter into force on 01/04/2017:

  • Down payments for February and March remain mandatory
  • A December prepayment will be mandatory (same as for monthly VAT payers)

 

Intra-EU delivery of goods – “Certificate of entry”

The Belgian VAT authorities have published a decision authorizing to replace under specific conditions the transport document by a “destination document” as proof of intra-EU delivery of goods.

Should you wish more information on the Certificate of entry, please contact Alain Soriano (This email address is being protected from spambots. You need JavaScript enabled to view it. ).

 

FRANCE

Deferred payment on import

Since 01/01/2017, it has become possible for all EU companies and non-EU companies to request the deferred payment through a formal authorization provided several conditions are met.

Do you want to verify with us if your company meets the condition and to file a request, please feel free to contact Bernard Ickowicz (This email address is being protected from spambots. You need JavaScript enabled to view it. ).

 

VAT on petrol

Up to now, only VAT on diesel fuel was partially recoverable [80%]. VAT on petrol was not recoverable.  Since 01/01/2017, companies have been able to recover 10% of VAT on petrol. This percentage will gradually increase in the coming five years.

 

FINLAND

Tax period – Threshold upgraded

Your company has to report its VAT position by filing periodical VAT returns on a monthly basis [standard tax period]. Quarterly reporting period can be opted for if your annual turnover of the preceding calendar year is under € 100.000 [previously € 50.000]. Yearly reporting period is also possible provided your annual turnover does not exceed € 30.000 [previously € 25.000]. 

 

HUNGARY

New real-time reporting

As from 01/07/2017, foreign companies VAT registered in Hungary will be required to report their sales invoices data in real-time for all B2B sales in which at least HUF 100.000 (+/- € 300) VAT is charged. The Hungarian VAT authorities have not yet published the details of the exact real time reporting process and the specification of the real time communication. Under one of the scenarios currently being discussed, foreign companies will need to upload their draft invoice data first, wait for approval of the Tax Authority servers and then issue the invoice with the received verification ID noted. Failure to comply with this new regulation may result in a penalty up to HUF 500.000 (+/- € 1.700).


LATVIA

Abolition of bi-annual VAT return

Your company has to report its VAT position by filing periodical VAT returns on a monthly basis provided your annual turnover of the preceding year exceeds LVL 35.000 [+/- € 50.000] or if you have intra-EU transactions. Other tax periods [quarterly or bi-yearly] were also available under specific conditions. Bi-yearly return has now been abolished since 01/01/2017.


POLAND

Automatic VAT deregistration

Since 01/01/2017, Polish VAT number of foreign companies having no transactions in Poland during six months or two consecutive quarters will be automatically unregistered by the Polish VAT authorities.

 

ROMANIA

VAT rate

Romania has reduced its standard VAT rate from 20% to 19% since 01/01/2017.

 

SPAIN

Real-time data reporting

Introduction of real-time data reporting [“Suministro Inmediato de Información”] initially set for 01/01/2017 has been postponed to 01/07/2017.

 

INTRASTAT

New Intrastat thresholds for 2017 can be found here.

 

See also our lasts VAT news: 

VAT News N° 4 2016

VAT News N° 3 2016

VAT News N° 2 2016

VAT News N° 1 2016

VAT News 08

VAT News 07

VAT News 06

VAT News 05

VAT News 04

 

Are you interested to receive more information about this topic or to discuss your specific case with a VAT expert? Do not hesitate to send us an email or set up a free conference call with us.

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