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Umsatzsteuer Newsletter 13/2018
A look across the border
AUSTRALIA introduces distance sales regime +++ BULGARIA clarifies treatment of supplies via consignment stocks +++ FRANCE reduces interest rates for tax arrears +++ GREAT BRITAIN defers Brexit and demands electronic transfer of VAT details +++ ITALY obliges companies to invoice electronically and eases regulations regarding input VAT deduction +++ SWITZERLAND obliges registered companies to declare worldwide turnover and shifts to electronic customs assessments
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Umsatzsteuer Newsletter 12/2018
Insolvency administrators keep tabs on rebate settlements
Unusual constellation – the plaintiff, a taxable person, assumed that it would be liable for undue VAT shown on debit notes. The tax office, however, denied the VAT liability. The Tax Court of Baden-Wurttemberg agreed with the plaintiff (see decision of 11.12.2017 file ref. 9 K 2646/16). It granted approval to cancel the undue VAT shown in the debit notes, a prerequisite for claiming the VAT amount from the tax office. The decision creates significant uncertainty for other taxable persons.
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Umsatzsteuer Newsletter 11/2018
Notification from German Ministry of Finance regarding VAT treatment of Bitcoin
On 27.02.2018 the German Ministry of Finance issued its very first notification regarding the VAT treatment of Bitcoin. Accordingly, the use of Bitcoin is to be treated the same as traditional currencies. Payments with Bitcoin are therefore not taxable. The exchange of Bitcoin into traditional currencies is tax exempt. However, VAT risks arise for online platforms, which allow virtual currencies to be traded via their platform. The tax exemption does not apply to the services provided by the platform. Additional VAT payments might be due.
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