UK: Making Tax Digital for VAT: what is it and how does it affect you?
Making Tax Digital for VAT, also known as MTD for VAT, is a set of rules that apply to VAT registered businesses in the UK, and that govern the way they keep their records. In this article, we’ll look into the exact implications of MTD for VAT.
VAT for events: what are the most important things to consider?
With many people returning to the office after a prolonged absence, most companies are starting to question whether it would be best to resume in-person meetings and corporate events, and are also looking for ways to tackle VAT on events. Learn more.
AliExpress expects to see a decrease in EU sales after the July 1 VAT reform
Alibaba, the company behind AliExpress, the hugely popular Chinese eCommerce platform which sells to customers from the whole world, expects to see a decline in their EU sales in the next months. Find out more in our article.
France: Online marketplaces’ VAT responsibilities might be different in France than the rest of the EU
With the EU VAT reform, which was rolled out on July 1, 2021, online marketplaces, such as Amazon, Wish, Cdiscount and eBay, became the deemed supplier in the EU for a big part of the sales transactions they facilitate.
The EU VAT reform: invoicing for online marketplaces
The EU VAT reform, in force since July 1, 2021, has a profound impact on the eCommerce industry, including online marketplaces. In this article, we’ll look into the invoicing obligations and VAT liability of online marketplaces.
Australia: Mandatory reporting for online sharing platforms
Online sharing economy platforms, which enable both businesses and consumers to sell goods or services to other consumers, have been flourishing in the past few years, but the taxation of those transactions has remained a gray territory.
Poland: The rollout of the KSeF e-invoicing system is in its next phase
Poland has begun the gradual rollout process of its Krajowy System of e-Faktur, or the KSeF e-invoicing system. In this article, we’ll look into the latest developments of the KSeF system and the accompanying legislation necessary for its rollout.
EU: VAT on the trade of services between EU countries
One of the core principles of the European Union is the free flow of goods and services. In this article, we’ll look into your VAT responsibilities as an EU service provider, as well as into the new OSS scheme designed to streamline tax compliance.
The EU VAT reform: OSS, IOSS and MOSS
Three key terms define the EU VAT reform: OSS, IOSS and MOSS. In this article, we’ll look into what each one of those terms means, what impact it can have on your business, and explain how you can benefit from the scheme that is right for you.
Non-EU B2C sellers: do you need an IOSS intermediary in the EU?
If you’re operating a business that sells goods to EU customers and aren’t located in the EU, you’d need to consider registering for the IOSS (Import One-Stop-Shop) scheme, and appoint an intermediary. Find out more in our article.
EU: Can you register for IOSS in the EU after July 1, 2021?
The EU VAT reform is now in force since July 1, 2021, but not all foreign businesses that are concerned have already registered for IOSS (Import One-Stop-Shop). Can you still register for IOSS or not? Answers are available in our article.
San Marino: E-Invoice rules for San Marino companies trading with Italian customers are evolving
Italian and San Marino tax authorities settled on a new e-invoicing agreement for B2B transactions between the two companies earlier this year. As of 2022, San Marino and Italian companies will need to use e-invoices for trade between each other.
VAT fraud on EU cross-border trade: €14.2 million seized in Hungary
In June 2021, the National Tax and Customs Administration in Hungary, in cooperation with Europol, stopped a crime group involved in cross-border VAT fraud (including carousel fraud). It seized assets of a total value of €14.2 million. Read more.
Canada: eCommerce businesses are subject to new GST/HST rules
As of July 1, 2021, eCommerce businesses who operate in Canada are subject to new tax rules. The goal of the new regulations is to make competition between Canadian and non-Canadian businesses fairer. Find out more in our article.
VAT registration exemption thresholds in the EU in 2021
In the EU, small businesses have the possibility to not register for VAT, if their annual turnover is under a certain limit. In this article, we’ll look at the different VAT thresholds per country, and see the rationale behind the existence of limits
Cross-border invoicing and reporting in Italy
Italy has introduced mandatory e-invoicing between Italian taxpayers in 2019, but cross-border transactions weren’t in the system’s scope. At the moment, Italy is looking to introduce an expanded CTC for cross-border transactions. Find out more now.
EU: VAT registrations for eCommerce businesses after July 1, 2021
Since July 1, 2021, new rules apply to EU VAT registration obligations for businesses. The new EU VAT reform is centered around two main objectives, to simplify tax compliance for suppliers, and to progressively eliminate VAT fraud. Find out more.
E-invoicing in the Scandinavian countries: Sweden, Norway, Denmark, Finland
Scandinavian countries have been making rapid progress towards electronic invoicing. In this article, we’ll look into the current state of e-invoicing in Sweden, Norway, Denmark and Finland. Find out more in our article.
E-invoicing in Saudi Arabia: timeline, requirements, and technical details
E-invoicing will become mandatory for businesses operating in Saudi Arabia, making the Kingdom the first Middle Eastern country to implement an e-invoicing reform. Find out more in our article.
E-invoicing in the Middle East
Although transactions and payment processes in the Middle East are still mostly paper-based in many countries, local governments are preparing to introduce e-invoicing procedures in the near future. Find out more.
Serbia: the new fiscal system and its impact on retailers
The existing fiscal system in Serbia requires using additional hardware, and retailers who operate in Serbia are well familiar with it. It was first introduced in 2004, but a new model is now being implemented. Find out more.
E-invoicing becomes mandatory for B2B transactions between San Marino and Italy
Companies from San Marino will use the Italian e-invoicing system, Sistema di Interscambio (SdI), when issuing invoices to Italian business customers. Find out more information about this change in our article.
EU: How the EU VAT reform impacted Amazon pan-EU FBA sellers?
The past year has been very successful for eCommerce businesses, as demand was further fueled by the pandemic. However, the EU VAT reform, which came into effect on July 1, 2021, has a profound impact on eCommerce in the EU. Find out how.
EU: If you’re selling on Etsy and have EU customers, here’s what’s changed in July 2021
If you’re an Etsy seller and have buyers from the EU, VAT collection now looks different, after the EU VAT reform (effective from July 1, 2021). In this article, we’ll look at the things you need to consider and to do. Learn more.
EU: B2B E-Invoicing in the EU
Across the European Union, countries are trying to reduce VAT gaps and increase VAT revenue by modernizing their invoicing and VAT collection processes. In this article, you can learn more about e-invoicing regulations in some European countries.
Dropshipping from China into the EU, IOSS, and the new EU VAT rules
The European Union has introduced a major VAT reform that impacts all eCommerce sellers who ship to EU customers. Let's look at the things that change for you if you have a dropshipping business and are shipping items from China into the EU.
EU: VAT on goods sold via Amazon, eBay, AliExpress, Etsy, Wish and other online marketplaces
Since July 1, 2021, online marketplaces are the deemed supplier for goods of a value of less than €150 imported into the European Union, and will be responsible for charging and remitting VAT. Find out more in our article.
EU: When are online marketplaces liable for VAT on B2C transactions in the EU?
With the EU VAT reform that entered into force as of July 1, 2021, online marketplaces that facilitate B2C sales in the European Union need to deal with a new administrative burden: charging and remitting VAT on some transactions. Learn more.
The new EU VAT reform on B2C retailers entered into force
As of today, July 1, 2021, EU VAT reform came into effect. That reform will significantly affect B2C retailers who have customers in the EU. Besides that, the administrative and tax burden will shift from sellers to online marketplaces in some cases.
EU: Do you need to register for the OSS (One-Stop-Shop) system?
The EU VAT reform will profoundly affect VAT declaration and remittance for eCommerce retailers who have customers in the EU. Learn more and prepare your business for all changes that are coming in the upcoming weeks.
EU & UK: New VAT rules for online retailers
Brexit brought many changes to how online retailers in the EU and in the UK need to handle VAT. EU distance selling rules no longer apply in the UK, and shipments between the UK and the EU are now subject to import duties and other fees. Learn more.
EU: VAT on sales facilitated by online marketplaces
Online marketplaces, such as Amazon, eBay or Cdiscount will be considered as the deemed supplier for some transactions in the EU, and, as a result, will be liable for collecting and remitting VAT on those sales. Find out more in our article.
EU: VAT rules for dropshipping in the EU
B2C dropshipping businesses who sell to EU customers need to adapt to the EU VAT reform that has been introduced on July 1, 2021. Find out more in our article.
Portugal: ATCUD and QR codes on invoices become mandatory from January 2022
Portugal is introducing mandatory ATCUD (document identification number) and QR codes on invoices, starting from January 2022. This is a part of a bigger effort by the Portuguese government to simplify and modernize tax compliance and VAT. Learn more
Poland introduces its e-invoicing system, the KSeF, in October 2021
Starting from October 1, 2021, Polish businesses will be able to use the official e-invoicing system to issue electronic invoices for B2B transactions. Find out more what it is all about in our article.
EU: Online Marketplaces Will Need to Collect VAT on Some B2C Transactions After July 1, 2021
The EU VAT reform scheduled for July 1, 2021, will have a profound impact on online marketplaces. After that date, they’ll be considered the deemed supplier for third-party B2C intra-EU transactions that they facilitate. Learn more in our article.
EU: Imports from China after the VAT Reform on July 1, 2021
The EU VAT Reform scheduled for July 1, 2021 will have a big impact on imports from non-EU countries, such as China. Learn how will new regulations impact international buyers who usually use Aliexpress, Wish, and eBay for online shopping.
EU: The One-Stop-Shop (OSS) Scheme is not Adapted to Fulfillment by Amazon
From July 1, 2021, the new EU VAT reform will affect cross-border trade in the EU (including imports from abroad). VAT legislation in the EU was outdated and not adapted to the realities of online trade, especially at its current scale. Learn more.
Russia: Electronic Invoicing Becomes Mandatory for Some Goods After July 1, 2021
In Russia, after July 1, 2021 electronic invoicing will become mandatory for a number of traceable products. This is a part of a bigger reform, aiming to make electronic invoicing mandatory for all sectors and all goods and services by 2024.
Greece: Mandatory Electronic Invoicing Postponed to July 2021
After being postponed a few times, electronic invoicing will finally become mandatory in Greece, starting from July 1, 2021. This follows the example of several other EU countries who have already introduced mandatory e-invoicing.
UK: How to Import Goods into the UK
If you’re in the UK and are buying goods from outside the UK (f.e. to sell to British customers), or if you’re a foreign company exporting from your own country and importing into the UK, then you need to know how to handle imports into the UK.
UK & EU: The Principle of Use and Enjoyment for VAT
Use and enjoyment for VAТ purposes is a principle that determines where a specific service is used, and where it should be taxed. It is used to prevent tax avoidance and non-taxation, as well to avoid double taxation. Find out more in this article.
EU: EC Sales List (ESL) Obligations for Intra-Community Trade
If you’re operating an EU VAT-registered business and are selling goods and services to other VAT-registered businesses in the EU, you need to submit EC Sales List (ESL) returns on a regular basis (monthly, quarterly, or annually). Find out more.
EU: Charging and Deducting VAT in the European Union
If you’re operating an EU business, you need to comply with EU tax rules, and charge and deduct VAT accordingly. In this article, we’ll give you a brief overview on charging and deducting VAT in the EU. Find out more in our new article.
Digital taxes on online courses: key factors to consider
If you’re an online course creator and sell your courses on Teachable or Udemy, you need to know what digital taxes you need to pay. In this article, we’ll look at consumption taxes on digital products and services, and how they affect you.
EU: IOSS and VAT rules for non-EU businesses who import to the EU
The EU VAT reform scheduled for July 1, 2021, will bring lots of changes to how B2C businesses operate in the EU. This reform will also affect non-EU businesses importing into the EU. Find out more about what is coming as of July 1 in our article.
UK: When Should You Pay Taxes on Income Generated from Your Hobby?
If your hobby or side hustle starts generating income, congratulations! Making money from your hobby or a small side business also means that you need to start declaring it and pay taxes on it. Learn more in our article.
EU: One-Stop-Shop for E-Commerce Explained: IOSS or OSS?
As already discussed - with the EU VAT reform scheduled for July 1, 2021, e-commerce business owners who have cross-border transactions within the EU or who import goods from outside the EU will be impacted.
EU: Distance Sales Tax Rules for E-commerce After July 2021
EU distance sales thresholds and VAT rules for e-commerce in the EU will change with the EU VAT reform that the European Commission has scheduled for July 1, 2021. Find out more in our article.
DAC7: New Reporting Obligations for Online Platforms in the EU
DAC7, short for the 7th Directive on Administrative Cooperation, is an initiative aiming to improve tax cooperation between EU member states. Find out how it will affect online platforms in the EU in our article.
UK: Tax Obligations for Freelancers and the Self-Employed
Freelancers and self-employed who are registered as sole traders must declare their income and pay taxes on it each year, and contrary to employees, they must take care of the whole admin process themselves. Learn more in our article.
New Reporting Obligations for Digital Platform Operators in 2021
Tax authorities in many countries impose additional reporting obligations to digital platforms in order to increase transparency, reduce tax fraud, and tax transactions that are often under-reported or untracked. Learn more in our article.
France: Obligatory e-invoicing for B2B transactions, starting from 2023
France will progressively move towards implementing online invoicing and reporting for B2B transactions. The transition is scheduled to happen gradually between 2023 and 2025, first for large, and then for mid-size and small companies. Find out more.
EU 2021 VAT Package: VAT on Goods Sold via Online Stores like Amazon, AliExpress and eBay
Starting from July 1, 2021, EU customers will be charged VAT for products they order on online stores and marketplaces (such as Amazon, AliExpress, eBay), regardless of the order’s value. Find out more in our article.
UK & EU: eBay Sellers’ VAT Obligations
In 2021, both the UK and the EU have rolled out important changes to the way VAT on online purchases is handled. These affect eBay sellers who trade with end customers in the EU and UK. Find out how to adapt to new changes in this article.
EU: Amazon FBA & Your VAT Obligations in the EU after July 1, 2021
Many companies sell products on Amazon, but not all of them know how this affects their VAT obligations in the different countries where they sell, and how to remain VAT-compliant. Here is what you need to know.
UK: Taxes on Earnings from Twitch
If you’re earning money on the streaming platform Twitch as an affiliate, a partner, or via donations, you’ll need to pay income taxes. Find out more in our article.
UK: Tax Obligations for Streamers on YouTube and Twitch
If you’re making money from streaming on Twitch or on YouTube, you might need to pay taxes on that income, regardless of whether it’s donations, ad revenue, or affiliate fees. What is all about, find out in our new article.
Turkey: E-invoicing Rules and Regulations
Turkey introduced mandatory e-invoicing for some taxpayers. Starting from July 1, 2020, companies who had generated gross revenue of over 5 million Turkish lira in 2018 and 2019 were required to transition to e-invoicing. Find out more.
Argentina: E-invoicing Rules and Regulations
The mandatory e-invoicing in Argentina went through several waves of adoption, but as of 2019, it is mandatory for all entities in Argentina. Find out more about e-invoicing rules and regulations in Argentina in this article.
The rise of businesses acquiring Amazon 3rd party sellers: How to centralize tax compliance?
The past months have seen a surge in funding towards startups that are operating essentially as a PE shop, acquiring third-party sellers in the Amazon FBA ecosystem with a goal of revamping their operations. Read more in our article.
India: New Rules for E-Invoicing in 2021
On January 1, 2021, e-invoicing became mandatory for businesses in India whose turnover exceeds Rs 100 crore per year (about 13,7 million USD), but as of April 1, 2021, e-invoicing became obligatory for all B2B transactions. Find out more.
Italy: Changes to E-Invoicing Rules for B2B Cross-Border Transactions, Starting from 2022
As the most advanced country in Europe in terms of electronic invoicing, Italy is introducing new e-invoicing rules for B2B cross-border transactions. Find out more about the upcoming changes in this article.
Portugal: Changes to E-invoicing Rules in 2021-2022
Portugal is continuously developing and expanding the mandate of its electronic invoicing system. Some changes are already implemented, and some will be in the upcoming months. Find out more in this article.
Understanding VAT Obligations for Dropshipping in the EU
Dropshipping, as one of the easiest retail models, comes with its own tax challenges related to the VAT requirements that businesses must fulfill in the EU and elsewhere. Find out more about your VAT obligations in this article.
The Grace Period For The Adoption Of Real-time Invoice Reporting In Hungary Expired Today
In January 2021, the Hungarian government introduced mandatory real-time invoice reporting with a 3-month grace period. Today, on April 1st, 2021, that grace period expired, and as of today, all businesses are obliged to comply with new regulations.
Is EU E-commerce Moving Towards VAT Exclusive Pricing?
After July 1st, 2021, a new VAT scheme called One-Stop-Shop (OSS) will be introduced. It will further simplify tax reporting and compliance for B2C sellers who provide goods or services to customers in the EU. Learn how will this impact merchants.
UK Sellers Exporting Goods to the EU: What You Need to Know
If you’re a UK company exporting to the EU, you need to follow some steps to ensure that you're complying with EU tax regulations and charging and remitting VAT correctly. Find out more.
A Growing Number of Countries Impose VAT on Online Transactions and Digital Services
The taxation of digital services and online transactions is challenging, and a growing number of countries in the world are trying to solve it by imposing VAT on transactions that were previously not taxed. Find out more in this article.
UK VAT Rules and Obligations for Online Marketplaces: Do Sellers Still Need to Register for VAT?
Online marketplaces (OMPs) facilitating sales need to comply with new VAT rules in the UK. The new regulations concern the collection, reporting and remittance of VAT, and have come into effect since January 1, 2021. Learn more.
Sales Of Goods Between The EU And UK After Brexit
Since January 1, 2021, Brexit has redefined the trade relationships between the EU and the UK. This carries important implications for taxation, and especially for VAT. Find out more in our article.
Dropshipping In The EU: Your VAT Obligations
Over the past decade, dropshipping is one of the fastest-growing ways to run your online business. But, when it comes to taxes, things might be complex. You can find an overview of your VAT obligations in this article.
VAT, The Gig Economy and The Sharing Economy
Governments are looking for ways to tax the gig and sharing economies, and fear that tax legislation is lagging behind the growth of these new economic models. In this article, we’ll look at how VAT is handled in the gig economy. Read more.
B2B E-Invoicing in Poland (KSeF)
Poland will introduce an e-invoicing solution for B2B transactions in October 2021. The new digitalized system is known as KSeF (Krajowy System e-Faktur, or National e-Invoicing System) and its use will be voluntary for businesses for the time being.
One Stop Shop (OSS) and Import OSS Explained
As of July 1, 2021, the EU will introduce its new VAT package for e-commerce, which means that businesses will have to switch to the One Stop Shop (OSS) reporting in the EU. Find out more in this article.
The Digital Levy: The Taxation of the Digital Economy in the EU
The taxation of the digital economy didn’t pass below the radar of governments within the European Union. Find out in our new article which principles and rules you should follow to stay tax-compliant. p.s. we have a solution for you.
Hungary Introduced Real-Time Invoice Reporting For All Transactions
As of January 1st, 2021, all B2B and B2C transactions must be reported to Hungarian tax authorities in real-time, regardless of the transaction amount. Fonoa can help you automate your invoicing compliance in Hungary. Find out more.
VAT and US Sales Tax: Key Similarities and Differences
You've heard hundreds of times about VAT and US Sales Tax, but what are the differences and similarities between these two types of tax? When and to whom do they apply? You can find answers to these and many more questions in this article.
VAT Rules for E-commerce B2C Sales in the UK After Brexit
On December 31, 2020, the UK has left the EU VAT system. As a result, starting from January 1, 2021, the VAT rules and obligations for e-commerce marketplaces and sellers that import products to the UK have changed. Find out more in this article.
Post-Brexit B2C Distance Selling and VAT Regulations in Northern Ireland
As of January 1st, 2021, the UK left European Union. Although Northern Ireland is a part of the UK, under the Northern Ireland Protocol, EU VAT rules will continue to apply after the end of the transition period. Find out more about new tax rules.
EU VAT Rules for B2C Transactions Are Changing After July 1, 2021
After July 1, 2021, the VAT rules for B2C sales in the European Union will change. The new VAT package will affect marketplaces, sellers of goods and services and postal couriers. Find out more in this article.
VAT Rules for Online Marketplaces in the UK after Brexit
As of January 1st, 2021, online marketplaces are subject to new VAT rules in the UK, as the UK left European Union. In this article, you can find out what changed and what was to impact of Brexit on marketplaces (and sellers) in the UK.
What Is A VAT Number, What Is Used For, And How To Check It?
Besides the contact information of companies you are working with, there is always one additional number. What that number represents, and why is it always displayed on invoices and other official documents? Find out answers in our new article.
Tax Registration Thresholds: What Are They and What Are Your Obligations?
If you reach the specific sales threshold, you need to register for VAT purposes and start charging VAT on your sales transactions. If you fail to comply with tax registration requirements, you'll most likely pay fines. Find out more and avoid fines.
What Is A Credit Note And When To Issue it?
You've probably heard about credit notes tens or hundreds of times, but what is it actually, when to issue it, and what information a credit note must contain? Find answers to these and many more questions in our new article.
EU Reverse Charge: What Is It And Who Is It For?
If you are selling your products and services to customers in another EU country, you need to follow special VAT rules that differ from the ones if you were selling to customers domestically. EU reverse charge is one of them. Find out more here.
What Is The EU Distance Selling Threshold And Why Is It Important?
Every EU Member State has a VAT distance selling threshold. If your sales in the particular Member States exceed that threshold, you are obliged to register for VAT purposes in that Member State, which means you need to collect taxes differently.
What Is A GST And Which Countries Have It?
GST, or Goods and Services Tax, is a type of indirect tax that is aimed at consumption. Many similar consumption taxes around the world are roughly based on the same principles. In some EU Member States, this tax type is called a VAT. Find out more.
No More Distance Selling Thresholds And 2 Other Big Changes Coming To e-Commerce In July 2021
After significant changes caused by the UK leaving the EU, the European Commission released the "EU VAT package 2021," which will significantly impact e-commerce businesses. Does it mean the end of e-commerce in the EU, as we know? Find out here.
EU VAT Number Formats
All EU member states have a fixed format for their VAT numbers, which includes a two-letter code of the country and a string of digits. You can find a full list of the Member States and their formats of the VAT number in this article.
EU VAT Rates
Besides the standard VAT rate, almost all EU Member States have reduced VAT rates. Find a list of VAT rates applied in the Member States of the European Union in our article.
How to obtain the EU VAT number if your business is not located in the EU?
If you are dealing with EU customers, you must obtain the EU VAT number, but the question is - how to do that? The easiest way to find out the answer to that question, and many more, is to read our article.
MOSS Explained: What Is It and Who Can Use It?
Selling digital services to non-taxable EU customers may be complicated, especially because of the EU principle that goods and services should be taxed in the EU Member State in which they are consumed. Find out more about MOSS in our article.
Digital Services Tax
Despite the strong opposition of the world’s tech giants, some countries already introduced a digital service tax, and many others already put that topic on their roadmap. Find out what it’s all about.
What does DAC7 Mean for Online Platforms
DAC7, according to many, will cause tectonic changes in the way how global digital platforms operate. In short, under DAC7 online platforms will need to report income earned by sellers in the EU, which means additional compliance responsibilities.
What is VIES?
If you operate in or have customers in the EU, you’ve probably heard about VIES, an online system developed to check the VAT ID of a VAT-registered business in the EU. Find out more about this project of the European Commission in our article.
Checking Your Customers’ Tax ID
If selling digital services, the chances you have customers in every corner of the world are high. To apply the right taxation principles, you should check your customer’s tax ID. That’s very important but very difficult. Find out more in our article
Tax on Digital Services
With the rise of a global economy, we are also witnessing a rise of businesses selling digital services in the online universe. It may sound easy, but it’s not—especially when it comes to the taxation of such services. Find out more in our article.
What Should A Tax Invoice Look Like?
In some countries, besides containing the compulsory information, a tax invoice must be issued in a specific layout, prescribed by the local authorities. Find out more in this article.
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