European Union
Spain did not transpose EU VAT rules for SMEs or works of art; in other news, an increased VAT threshold came into force in South Africa
While some advisers praised the ruling’s definition of a ‘voucher’ for VAT purposes, a UK partner said the case left unanswered questions
While all options presented ‘drawbacks’, European Commission tax leader Wopke Hoekstra said the controversial US carve-out deal has ‘many benefits’
A 120-plus-day delay to refunds would cost taxpayers almost $3bn in additional interest, the Cato Institute warned; plus indirect tax updates from February
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Sponsored by Morais Leitão, Galvão Teles, Soares da Silva & AssociadosSofia Araújo Alves of Morais Leitão, Galvão Teles, Soares da Silva & Associados explains the Carbon Border Adjustment Mechanism’s transition to its definitive phase, highlighting new compliance requirements, thresholds, and regulatory simplifications
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Sponsored by Spanish VAT ServicesFernando Matesanz of Spanish VAT Services welcomes a CJEU ruling clarifying how tax authorities should verify cross-border movement of goods to apply the VAT exemption
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Sponsored by Spanish VAT ServicesFernando Matesanz of Spanish VAT Services explains how the General Court has clarified the application of triangular transaction rules in intra-EU supply chains involving four parties
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