VAT News


VAT News 14/2014
Malaysia is implementing a Goods and Service Tax which is comparable to the European VAT system. The predominant issue within the EU remains the fight against VAT fraud. Switzerland, which is well-known for its entrepreneur-friendly VAT law, will shortly tighten its formal requirements. Italy, Romania and Kosovo, however, have, meanwhile, implemented provisions which offer some relief. Increases in VAT rates are about to come into force in Luxemburg and Portugal. Hence, VAT remains multifaceted in the various countries.
As of 17 May 2014 Ausgangsvermerke include this watermark if the export procedure is connected with a transit procedure, which is terminated by specific German customs offices of destination. In these cases, taxable persons now need to furnish a valid alternative proof in the sense of the German VAT Implementation Code for the export of the goods. However, in general, the Ausgangsvermerk is still valid proof of export supplies.
The Federal Ministry of Finance has again responded to the issue of construction work and has touched up on areas such as legitimate expectations, supplies for private purposes and VAT groups. The fiscal authorities have commented on the question of taxation for advance and final invoices exceeding the deadline of 14 February 2014. This regulation requires significant manual effort for successful technical imple-mentation