VAT News - Jan 2009

Belgium: to offer deferred VAT payments for companies in difficulties

Bulgaria: scope for electronic invoices; new Intrastat threshold

Czech: compulsory electronic filing for Intrastat if large volume of entries

Estonia: reduced VAT increased from 5% to 9%; many items now on standard rate

EU: more proof required for VAT import exemptions for onward supply relief

EU: monthly EC Sales lists and electronic VAT returns scheduled for 2010

India: 4% VAT (central excise tax) cut as part of economic stimulus package

India: 2 tier Federal and Central VAT system April 2010; combined rate will be 20%

Italy: starting trials for cash-accounting VAT reporting

Kazakhstan: cuts VAT rate by 1% to 12% and switches to quarterly returns

Kosovo: increases VAT by 1% to 16% to fund personal taxes cut

Latvia: increases VAT from 18% to 21% from Jan; reduced rate doubles to 10%

Lithuania: last month’s 2% VAT increase now reduced to 1% (19% standard rate)

Poland: New VAT return form from Jan 09

Russia: relief on import VAT for certain technological components

Slovakia: adoption of Euro brings in new VAT return form

Syria: introduction of a VAT system delayed again till 2010

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